Vacuum Blood Collection Devices Market is Set to Experience a Significant Growth of 6.3% CAGR During the Forecast Period (2021 – 2031)
According to a recent study by Future Market Insights (FMI), the global vacuum blood collection devices market is expected to witness high growth during the forecast period. The market is expected to grow from US$ 2.2 Bn in 2020 to over US$ 2.3 Bn through 2021. It also is expected to register cumulative CAGR of around 6.3% over the forecast period (2021-2031).
Vacuum blood collection devices are closed tubes for blood collection and thus reduces the direct exposure of blood to the environment thus lowering risk of contamination. These tubes have improved sampling by allowing sample collection through single venipuncture. Ease in the process of blood collection, processing and the lowering risk of contamination to the patients are the major factor driving the market growth.
Global burden of chronic diseases such as, cardiovascular disorders, cancer, and diabetes has increased at a rapid pace. High prevalence of these diseases has enforced adherence to the regular health checkups and growing importance of markers for early diagnosis via blood tests.
As blood tests are primary mode of diagnosis for these diseases, the rise in number of chronic diseases will positively drive the demand for vacuum blood collection devices, augmenting the market growth.
Rising advancements in the field of biotechnology have enabled the establishment of several non-invasive approaches for disease diagnosis. Amongst other favorable diagnostic tools, liquid biopsy has emerged as a promising and versatile non-invasive cancer diagnostic tool. Liquid biopsy analysis based on circulating cell-free nucleic acids, circulating tumor cells or other diseased cells from organs, and exosomes or other micro vesicles in blood offer new means for non-invasive diagnostic applications.
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With growing number of stabilizing reagents and dedicated vacuum blood collection tubes available in the market, it has become possible to perform the post-collection preservation of circulating cell-free DNA (cfDNA) profiles in whole blood.
This has certainly increased the demand for non-invasive diagnostic procedures. Such advancements are expected to provide lucrative growth opportunities for the vacuum blood collection devices market.
Key Takeaways from Vacuum Blood Collection Devices Study
- By product, serum separator tubes will account for the largest share of 23.2% in 2021, and is expected to remain dominant throughout the forecast period.
- Based on material, plastic/PET material will hold mammoth’s share of 84.5% in 2021
- In terms of application, routine chemistry is expected to account for the largest share of 34.2% in 2021 of vacuum blood collection devices market and is expected to continue to grow at the same trend during the forecast period.
- Diagnostic laboratories are expected to be the primary end-user of vacuum blood collection devices, holding total market share of 46.6% in 2021
- The U.S. is expected to emerge as the most lucrative market across North America, capturing 87.3% of market share.
- India will lead the growth of South Asia’s vacuum blood collection devices market, contributing for over 74.6% of sales through 2031
“Growing awareness regarding health and increasing health checkups due rising prevalence of lifestyle & chronic disorders is expected to fuel the demand of vacuum blood collection devices over the decade,” says the FMI Analyst
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Who is Winning?
Some of the leading manufacturers of vacuum blood collection devices market are focusing on product launch collaboration and partnership strategies for global expansion objectives, thereby, enhancing their market presence.
- In February 2021, Greiner Bio-one introduced Vaccuate FC Mix Tube that provides effective glycolysis inhibition for precise determination of the in vivo blood sugar content.
- In November 2020, Intervactechonlogy OU introduced new packaging system for its blood collection devices set. This packaging sets are available for pack of 1, 2, and 5 tube pack.
- In June 2018, Poly Medicure acquired Plan 1 Health S.R.L., one of the prominent medical device player operating in Italy. This acquisition will help company to expand its geographical reach as well as enhance its portfolio in the medical device industry region. Further, as per agreement, Plan 1 Health S.R. L. will now operate as a subsidiary of Poly Medicure B.V, and indirect subsidiary of Poly Medicure Limited.
- In December 2017, Becton, Dickinson, and Company (BD) acquired C.R. Bard, Inc. As per the agreement, followed by acquisition C.R. Bard will operate as a wholly owned subsidiary of BD. Further, this acquisition, enabled company to expand their foot print I the global Life science, and medical devices segment.
The key market players covered by FMI include Becton, Dickinson, & Company, Greiner Bio-One GmbH, Guangzhou Improve Medical Instruments Co.,Ltd, AB Medical, Inc., SARSTEDT AG & Co. KG, Cardinal Health, Poly Medicure Ltd, FL Medical , InterVac Technology, CHENGDU RICH SCIENCE INDUSTRY CO., LTD., Zhejiang Gongdong Medical Technology Co., Ltd., Aptaca Spa., Hindustan syringes & Medical Devices.
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