Vacuum Blood Collection Tube Market is Projected to Register a Healthy CAGR of 11.6% in the Forecast to 2027
Research Reports
Jan 18, 2022
Market Research Future (MRFR) expects the vacuum blood collection tube market capture a strong CAGR of around 11.6 ?tween 2018 and 2027 (evaluation period).The expeditious rise in the number of surgeries worldwide in the face of surging accidents as well as health conditions has been favorable for the vacuum blood collection tube industry. The chronic illnesses are rapidly surging among the geriatric population, which itself is expanding rapidly worldwide. The United Nations confirms that people aged above 80 years will almost triple, from 145 million in 2020 to 430 million in 2050. The jump in this number will also mean a significant increase in the number of chronic ailments, bolstering the demand for vacuum blood collection tubes in the process.
Another development witnessed in the market is the speedy growth of the blood donation rate across the globe. The World Health Organization (WHO) affirms that in 2015, 113.5 million blood donations took place worldwide with close to half of these reported in developed economies like the United States. On the other hand, in emerging economies including Bangladesh, China, and India, approximately 70% of blood transfusions involve children that are aged 5 or below; while developed countries report 70% of total blood transfusions involving patients aged above 65 years. Also, according to WHO, in 2015, the blood donation rate accounted for close to 35.1 per 1000 people in developed economies, 12.7 per 1000 people across middle-income nations like India and around 5.6 per 1000 people in low-income economies like Afghanistan. Simply put, the rapid escalation in the number of blood donations all over the world is bound to create a solid demand for vacuum blood collection tubes in the following years.
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Market Segmentation
The vacuum blood collection tube industry has been studied with respect to type, application, and end-user.
Different vacuum blood collection tube types are heparin tubes, gel and clot activator tube, serum separating tubes, EDTA tubes, and more.
Major applications discussed in the report are biochemical test, blood routine examination, blood segmentation testing, coagulation testing, and others.
The top end-users of vacuum blood collection tubes include outpatient centers, clinics, hospitals, blood banks, pathology laboratories, and others.
Regional Analysis
The vacuum blood collection tube industry can be regionally divided into APAC/Asia Pacific, MEA/Middle East & Africa, the Americas, along with Europe.
The Americas currently heads the vacuum blood collection tube industry, with predominant reasons being the well-developed healthcare system as well as the large-scale government spending on research activities. Technical advances, high adoption rate of the latest technologies in medical devices and escalating usage of blood tests to diagnose lifestyle disorders including diabetes also add to the market worth. High concentration of a large number of renowned manufacturers combined with the alarming rise in accidents and sports related injuries also benefit the American marker for vacuum blood collection tubes.
Europe has secured the second lead in the global market, generating substantial demand for advanced vacuum blood collection tubes as the number of road accidents and other injuries rise. It is believed that the strong support of the government with respect to research & development funds along with the surge in blood transfusion committees will create growth avenues for the European market in the future. The world health organization reveals that close to 92% of hospitals in the region have transfusion committees that carry out a huge number of blood transfusion procedures. Besides, the escalating number of chronic ailments affecting the expansive elderly population as well as the mounting number of surgical treatments in the region will further foster the market size.
The fastest growth is being experienced by the APAC market for vacuum blood collection tube, with significant backing from fast-developing countries like China, the Republic of Korea, Japan, Australia, and India. Majority of the countries in the region consist of thriving pharmaceutical and life science sectors, supported by high government funding. However, the fastest emerging markets in the region are India and China, two of the most densely populated countries with fast-advancing healthcare infrastructure, soaring number of hospitals, and the incredible growth of the medical tourism sector.
Leading Industry Contenders
Leading firms active in the global market for vacuum blood collection tube include Hebei Xinle Sci &Tech Co., Ltd., Bio – X, Sunphoria Co. Ltd., Greiner Bio-One International, Narang Medical Limited, Labtech Disposables, CML Biotech, Medtronic plc., Terumo, Biosigma, Becton, Dickinson and Company, and many more.
Many of these players allocate large-scale budgets for research and development (R&D) activities to support their focus on product innovation and new launches to bolster their worldwide presence. Some other competitive strategies employed by the vendors in the global industry include FDA approvals, acquisitions, joint ventures, collaborations, and expansions, to name a few.
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