Blood Collection Market worth of $10.59 Billion by 2022 at a CAGR of 5.5% in Healthcare

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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.
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.
Blood collection devices segment is expected to grow at the highest growth rate during the forecast period.
The blood collection devices segment is projected to register the highest during the forecast period. The growth of this market segment is driven by the rising prevalence of blood disorders, increasing demand for plasma from biopharmaceutical companies for plasma fractionation, and rising demand for apheresis & whole blood collection devices from blood banks in the emerging countries.
Automated blood collection segment to record the highest CAGR during the forecast period.
Automated blood collection segment is projected to register a higher CAGR during the forecast period. The growth of the automated blood collection segment can be attributed to the increasing demand for safer procedures to withdraw and separate blood components for transfusion; availability of advanced blood collecting products such as blood bags with inbuilt filters, blood collection monitors, and tube sealers; and the rising demand for plasma by biopharmaceutical companies.
Hospitals and pathology laboratories segment to record the highest CAGR during the forecast period.
Clinics, big hospitals, multi-specialty hospitals, pathology laboratories, and in-house blood banks is projected to register a higher CAGR during the forecast period. The growth of the this segment can be attributed to the increasing prevalence of diseases for which blood diagnosis is essential. Moreover, the number of organ transplant surgeries has increased over the last decade. Growth in the number of organ transplant surgeries is also expected to drive the market for blood collection in hospitals and pathology laboratories, as patients are prone to blood loss during these procedures.
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.
Leading Companies
Becton, Dickinson and Company, Medtronic, Terumo Corporation, Haemonetics, Fresenius, Nipro Medical Corporation, F.L. Medical, Greiner Holding, Smiths Group, Grifols, Kawasumi Laboratories, Quest Diagnostics, Sarstedt, Retractable Technologies, Ab Medical.

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