How COVID-19 is impacting the Blood Collection Market ?

Pune, India, 2020-Apr-06 — /EPR Network/ — According to the new market research report “Global Blood Collection Market by Product (Serum Tube, Plasma Tube, EDTA, Heparin, Coagulation, Glucose, Needle, Lancet, ESR, Syringe, Blood Bag), Method (Manual, Automated), End User (Hospital, Blood Bank Center, Academics, Home Care) — Global Forecast to 2022”, published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities.

Blood collection is the process of acquiring blood samples from the donor for performing laboratory diagnostic tests and treating patients. This is an integral part of the blood management procedure in hospitals and blood banks centers.

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The global blood collection market is expected to reach USD 10.59 Billion by 2022 from USD 8.10 Billion in 2017, at a CAGR of 5.5% during forecast period. The increasing prevalence of various diseases, rising number of surgeries, and growing number of accidental and trauma cases are fueling the demand for blood collection products.

The increasing prevalence of various diseases, rising number of surgeries, and growing number of accidental and trauma cases are fueling the demand for blood collection products. Blood collection is the process of acquiring blood samples from the donor for performing laboratory diagnostic tests and treating patients. This is an integral part of the blood management procedure in hospitals and blood banks centers.

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The blood collection market is segmented into product, method, end user, and region. Based on product, the market is further divided by blood collection tubes, needles and syringes, blood bags, blood collection devices, and lancets. The blood collection tubes segment is expected to dominate the market in 2017. Blood collection tubes enable the easy collection and multiple sample collection from a single venipuncture; this is driving its adoption in a wide range of applications.

Based on method, the blood collection market is segmented into manual blood collection and automated blood collection. The manual blood collection segment is expected to account for the largest share of the market in 2017. Lower costs (as compared to automated blood collection), high demand for whole blood transfusions, and the availability of a wide range of products for this method are the major factors driving market growth in this segment.

North America to account for the largest market size during the forecast period.

North America is expected to account for the largest share of this market. Government initiatives for blood safety, increasing prevalence of lifestyle diseases, the presence of key players in the region, and increasing adoption of automated blood collection devices are the key growth drivers of the North American market.