PUBLISHER: The Business Research Company | PRODUCT CODE: 1414057
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414057
“Blood Collection Tubes Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on blood collection tubes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for blood collection tubes? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The blood collection tubes market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Blood collection tubes are specialized containers, typically made of sterile glass or plastic, equipped with colored rubber or plastic caps. These tubes serve the purpose of collecting and transporting blood specimens for subsequent laboratory analysis.
The primary product types in the realm of blood collection tubes encompass plasma separating tubes, serum separating tubes, heparin tubes, EDTA tubes, rapid serum tubes, and various others. Among these, a plasma separating tube, also referred to as a PST or plasma separator tube, is specifically designed to segregate plasma from whole blood samples. These tubes are crafted from materials such as glass and plastic and find extensive use across diverse healthcare settings including hospitals, clinics, ambulatory surgical centers, and other medical facilities for the collection and handling of blood specimens for diagnostic testing purposes.
The blood collection tubes market research report is one of a series of new reports from The Business Research Company that provides blood collection tubes optical components market statistics, including blood collection tubes optical components industry global market size, regional shares, competitors with a blood collection tubes optical components market share, detailed blood collection tubes optical components market segments, market trends and opportunities, and any further data you may need to thrive in the blood collection tubes optical components industry. This blood collection tubes optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The blood collection tubes market size has grown strongly in recent years. It will grow from $6.21 billion in 2023 to $6.68 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The expansion observed during the historic period can be attributed to several key factors, including the heightened prevalence of chronic diseases, the growing population of elderly individuals, an increase in blood donation and screening initiatives, and the rising global demand for blood transfusions. These elements collectively contributed to the growth and development within the domain of blood-related healthcare services.
The blood collection tubes market size is expected to see strong growth in the next few years. It will grow to $8.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The projected growth in the forecasted period is expected to stem from several significant factors, notably the escalating demand for point-of-care testing (POCT), broader applications within personalized medicine, rapid advancements in biotechnology and life sciences, the emergence of non-invasive diagnostics, and a heightened emphasis on global health crisis preparedness. Major trends anticipated during this period encompass innovations in tube design technology, advancements in healthcare technology applications, the integration of safety features into blood collection tubes, customization catering to specific testing needs, and the implementation of preanalytical automation. These trends are poised to shape and drive the evolution of blood collection tubes and related diagnostic processes in the forecasted period.
The surge in chronic diseases is a driving force behind the expanding blood collection tube market. Chronic illnesses, gradually progressing long-term conditions such as diabetes, cancer, and tuberculosis, often require blood tests for diagnosis. Lifestyle factors such as poor nutrition, inactivity, and exposure to risks such as tobacco use contribute to rising instances of infectious diseases, boosting the need for blood collection devices. As per the World Health Organization (WHO) in 2021, global tuberculosis infections reached an estimated 10.6 million, resulting in 1.6 million deaths, while HIV infections totaled 1.5 million with 650,000 associated deaths. Consequently, the increasing prevalence of chronic diseases is projected to elevate the demand for blood collection tubes in the foreseeable future.
The upsurge in blood donation initiatives is set to drive the growth of the blood collection tube market. These initiatives encompass programs aimed at bolstering voluntary blood donations, advocating for safe blood supplies, and supporting national transfusion services. Blood collection tubes play a pivotal role in these efforts, ensuring safe and efficient blood collection for various purposes, including testing and transfusion. According to the Red Cross Blood in 2023, around 6.8 million individuals donate blood annually, resulting in the collection of approximately 13.6 million units of whole blood and red blood cells. Therefore, the rise in blood donation initiatives constitutes a significant driver of the blood collection tube market.
Technological advancements stand out as a prominent trend shaping the blood collection tube market. Leading companies in this market are innovating to meet the burgeoning industry demand and expand their global presence. For instance, in June 2022, Rhinostics Inc. introduced an automated sample collection technology, the Veristic collection device, specifically designed for small-volume blood collection. This patent-pending device caters to at-home and clinician-assisted collection methods, significantly enhancing efficiency in various applications, including antibody detection, genetic testing, and clinical trials, using a simple finger prick collection method.
Major entities in the blood collection tube market are focused on developing innovative products such as hybrid plastic blood collection tubes to cater to customer needs. Hybrid plastic blood collection tubes offer advantages combining breakage resistance of plastic with a shelf life resembling that of glass. For instance, in February 2022, Streck unveiled the Fusion2 Hybrid Plastic Blood Collection Tubes incorporating cell stability technology. These tubes utilize a unique process to coat the interior plastic surface with a silica-such as barrier, ensuring stability for cells and extracellular vesicles in blood samples. Combining engineered plastic cyclic olefin polymers with a silicon dioxide-coated barrier layer, the Fusion2 tubes possess the benefits of glass while ensuring safety and convenience of plastic, providing an extended shelf life of 24 months from the manufacturing date.
In July 2021, Becton, Dickinson and Company (BD), a leading US-based medical technology company, acquired Velano Vascular for an undisclosed sum. Through this acquisition, BD aims to support healthcare professionals in eliminating multiple needlesticks during blood sample collection, thereby reducing patient discomfort and enhancing the quality of outcomes. Velano Vascular, based in the US, specializes in manufacturing needle-free blood collection devices.
Major companies operating in the blood collection tubes market report are Becton Dickinson and Company, Greiner AG, Qiagen NV, Sarstedt AG & Co. KG, Terumo Corporation, FL Medical SRL, AdvaCare Pharma, Cardinal Health Inc., Haematonics, Narang Medical Limited, Chengdu Rich Science Industry Co. Ltd., DWK Life Sciences, Fresenius Kabi AG, Grifols S.A., Hindustan Syringes & Medical Devices Ltd., Sekisui Chemical Co. Ltd., InterVacTechnology Inc., Advin Health Care, MB Plastic Industries, Biota, Nipro Medical Corporation, Bioscientifica Ltd., CML Biotech Pvt. Ltd., CDRICH Corporation, Biosigma Srl, VWR International LLC, Abbott Laboratories Inc., Danaher Corporation, Medline Industries Inc., Owens & Minor Inc.
North America was the largest region in the blood collection tube market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global blood collection tube market report during the forecast period. The regions covered in the blood collection tubes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the blood collection tubes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The blood collection tube market consists of sales of red blood collection tubes, green blood collection tubes, light green blood collection tubes, light blue blood collection tubes, and purple blood collection tubs. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.