Blood Collection Market : Industry Outlook and Trend Analysis
The Blood Collection Market was worth USD 7.06 billion in 2014 and is expected to reach approximately USD 11.35 billion by 2023, while registering itself at a compound annual growth rate CAGR of 5.42% during the forecast period. Expanding prevalence of infectious and non-communicable sicknesses, rising number of trauma and accident cases are the main considerations contributing toward the development. Expanding number of surgeries is another main consideration significantly advancing the development of the market. As indicated by the WHO, in 2012, around 266.2 to 359.5 million surgeries were performed all inclusive and this number is anticipated to increase sooner rather than later. The expansion in the quantity of surgeries, for example, organ transplant and cancer surgeries that require blood transfusion is foreseen to drive the development of the market.
Product Outlook and Trend Analysis
In 2015, needles and syringes was the biggest income producing fragment and are additionally anticipated to maintain its strength amid the estimate time frame. The increasing demand for syringes and needles in illnesses conclusion and surgeries is the main consideration adding to the development of this portion. Also, these products are economical and easy to use. These variables drive its application for diagnostics and therapeutic purposes.
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Application Outlook and Trend Analysis
The diagnostics application portion represented significant income share of the market in 2015. Different conditions, for example, cancer, infectious diseases, anemia, diabetes, and sickle cell require blood testing frequently. Therefore, the interest for blood collection products for diagnostics application is high and is anticipated to stay on the ascent all through the examination time frame.
End User Outlook and Trend Analysis
The hospitals portion is foreseen to develop at speediest rate over the figure time frame. The developing awareness regarding healthcare and additionally activities by the administration and nongovernment associations, to control and forestall infectious illnesses is a main factor in charge of the market development. For example, the CDC has started to team up with the legislature of South Africa to create national HIV clinical and research rules, lead the study of disease transmission preparing, and bolster HIV and TB programs.
Regional Outlook and Trend Analysis
The North America ruled the overall market in 2015. The existence of highly developed healthcare infrastructure and high per capita healthcare expense drive the development in this region. In addition, quick implementation of advanced products in the U.S. boosts the requirement for target products. Asia Pacific is anticipated to develop at the highest rate over the forecast period.
The leading players in the market are Qiagen, Becton Dickinson, Abbott Laboratories, Medtronic, FL MEDICAL, Becton Dickinson, Terumo Corporation and Nipro. The leading companies are adopting several organic as well as inorganic methodologies, for example, acquisitions, collaborations, new product development, and regional extension to increase greatest share in the business. For example, in March 2015, Becton, Dickinson and Company procured CareFusion Corp. to extend its product portfolio and topographical reach over the globe.
The Blood Collection Market is segmented as follows-
Needles and Syringes
By End User
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
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