Visiongain Publishes Capillary Blood Collection Devices Market Report 2020-2030
02 August 2020
Visiongain has launched a new pharma report Capillary Blood Collection Devices Market Report 2020-2030: Prospects by Material (Ceramic, Glass, Plastic, Stainless Steel), Product (Lancets, Micro-Container Tubes, Micro-Hematocrit Tubes, Warming Devices, Others), Applications (Comprehensive Metabolic Panel (CMP) Tests, Dried Blood Spot Tests, Liver Panel/Liver Profile/Liver Function Test, Plasma/Serum Protein Tests, Whole Blood Tests), End Users (Blood Donation Centers, Diagnostic Centers, Home Diagnosis, Hospitals and Clinics, Pathology Laboratories), and Geography.
The global capillary blood collection devices market is projected to grow at a lucrative CAGR of ~xx% and anticipated to surpass USD xx billion by 2030.
The increasing number of surgeries, rising incidences, growing prevalence of various diseases & advancing technology are some of the major factors driving the growth of the global capillary blood collection market. Chronic diseases are a major healthcare issue with more than half of the U.S. adult population suffering from chronic conditions, contributing to over 75% of the nation's overall healthcare costs. As a result, increasing numbers of chronic & infectious diseases are creating a significant revenue generation opportunity for diagnostic testing methods.
The number of non-communicable & infectious diseases has risen tremendously over the past few decades. Rapid urbanization, growing poverty in most developing and underdeveloped economies, antimicrobial resistance, and rising food-borne disease prevalence are some of the factors that are leading to their increased prevalence. Due to the introduction of innovations such as bioanalytical tools, biosensors, novel assay formats, and other complementary testing techniques, Point of Care (PoC) diagnostics has seen tremendous growth in the recent past. Also, the development of molecular diagnostics has allowed rapid diagnosis at a lower cost.
Capillary blood facilitates the collection of devices through the use of PoC diagnostics to allow rapid hematology tests. This form of sample collection is less invasive, cheaper than venous and arterial blood collection, and does not require trained blood drawing professionals. This approach has become the preferred mode of testing in remote & ambulatory healthcare settings, in combination with PoC diagnostics. Also, owing to several advantages, these are used in the pediatric and adult population for different hematology tests. Therefore, the use of capillary blood collection tools is expected to increase shortly with the growing adoption of rapid POC diagnostics.
In the year 2018, the North American capillary blood collection devices market dominated the global market with maximum share. The factors responsible for its dominance are high use of advanced technology & growing investment in healthcare. Also, growing reimbursement programs & growing awareness of the benefits of capillary blood collection is anticipated to fuel market growth further over the forecast period.
However, the Asia Pacific region is anticipated to grow with the highest CAGR over the forecast period. India, Japan & China are the major countries where demand for capillary blood collection devices is high, as the government is spending heavily on the healthcare sector in these regions. Also, technological advancement and increased medical research in Japan have widened the demand for capillary blood collection devices in the Asia Pacific.
Some of the major players operating in this industry are Abbott Laboratories, B. Braun Melsungen AG, Becton, Dickinson and Company (BD), Bio-Rad, Cardinal Health, Danaher Coproration, F. Hoffmann-La Roche AG, Greiner Bio One International GmbH, Haemonetics, HLT-STREFA S.A., Improve Medical, KABE LABORTECHNIK GmbH, Medtronic PLC, Novo Nordisk, Nipro Europe NV, Owen Mumford Ltd., SARSTEDT AG & Co. KG, Terumo Medical Corp., Thermo Fisher Scientific, Inc., Ypsomed Holding AG among other prominent players.
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