Vacuum Blood Collection Tube Market Size ($4,507.70Mn by 2028) Led by Serum Separating Tubes (8.2% CAGR) Impact of Coronavirus Outbreak and Global Analysis & Forecast by TheInsightPartners.com
The Insight Partners
7 min read
The vacuum blood collection tube market size to reach $4,507.70 million by 2028 from $2,598.78 million in 2021 to grow at a CAGR of 8.2% from 2021 to 2028; while in 2021, serum separating tubes held largest market share and EDTA tubes segment expected to grow at the fastest rate in the coming years.
New York, Nov. 29, 2021 (GLOBE NEWSWIRE) -- According to our new research study on Vacuum Blood Collection Tube Market Size, Share, Revenue, Growth, Trends, Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Serum Separating Tubes, EDTA Tubes, Heparin Tubes, ESR Tubes, and Glucose Tubes), Material (PET, Polypropylene, and Tempered Glass), Application (Blood Routine Examination, Biochemical Test, and Coagulation Testing), and End User (Hospitals and Clinics, Ambulatory Surgical Centers, Pathology Labs, and Blood Banks), and Geography with COVID-19 Impact and Global Analysis available at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00006202
Report Coverage
Details
Market Size Value in
US$ 2,598.78 million in 2021
Market Size Value by
US$ 4,507.70 million by 2028
Growth Rate
CAGR of 8.2% from 2021 to 2028
Forecast Period
2021-2028
Base Year
2021
No. of Pages
183
No. Tables
109
No. of Charts & Figures
78
Historical Data Available
Yes
Segments Covered
Product, Material, Application, and End User, and Geography
Regional Scope
North America; Europe; Asia Pacific; Latin America; MEA
Country Scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report Coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Vacuum Blood Collection Tube Market: Competition Landscape and Key Developments BD; Narang Medical Limited; Terumo Corporation; GPC Medical Ltd.; Vitrex Medical A/S; Medtronic; KALSTEIN FRANCE; ELITech Group; F.L. Medical; and STRECK, INC are among the key companies operating in the vacuum blood collection tube market. Leading market players are focusing on new product launch, expansion, diversification, and acquisition strategies, thereby tapping prevailing business opportunities.
In 2021, North America dominated the global vacuum blood collection tube market. The US held the largest share of the North American market in 2021. Favorable government programs and initiatives for blood donation, improved public awareness, rise in incidence of chronic diseases, upsurge in the research and development activities by the major key players, and advancements in vacuum blood collection tubes are a few factors propelling the market growth in North America.
The growing prevalence of behavioral disorders and increasing awareness of the available therapeutic options are major factors driving the growth of the vacuum blood collection tube market. The Anxiety and Depression Association of America (ADAA) states that anxiety disorders are the most common mental illness in the US, affecting 40 million adults of age 18 and above, i.e., 18.1% of the population each year..
Robust Advancements in Healthcare Facilities and Infrastructure Drive Vacuum Blood Collection Tube Market Growth: The prevalence of blood transfusion in major orthopedic and cardiovascular will spur the demand for vacuum blood collection tubes in North America. Also, a higher preference of people for contactless blood collection to avoid the risk of infection and contamination is driving the vacuum blood collection tube market. This will also lead to the demand for advanced healthcare infrastructure with improved facilities in the hospitals. Countries in North America are focusing on introducing advanced healthcare facilities and services to overcome critical health issues. Many pathology laboratories and diagnostic centers have initiated blood collection from home. Companies have launched home blood collection devices. Home blood collection has become popular during the pandemic due to movement restrictions and social distancing norms. For instance, in November 2020, a Seattle-based start-up, Tasso, launched a device to help patients painlessly collect their blood at home. According to the American Clinical Laboratory Association, 4,000 diagnostic tests are run 7 billion times a year in the US, so they figured the impact of such as product could be huge. The Casavant and Berthier duo created Hemolink, a wearable, minimally invasive device that lets patients collect blood samples from the comfort of their own homes.
Moreover, the six major government healthcare programs—Medicare, Medicaid, the State Children's Health Insurance Program (SCHIP), the Department of Defense TRICARE and TRICARE for Life programs (DOD TRICARE), the Veterans Health Administration (VHA) program, and the Indian Health Service (IHS) program—provide healthcare services to about one-third of Americans. The federal government has the principal responsibility to ensure that ~US$ 500 billion invested annually in these programs are used wisely to reduce the burden of illness, injury, and disability and improve the population's health and functioning. The federal government must exercise strong leadership in addressing serious shortcomings in the US's safety and quality of health care. These government initiatives are likely to provide a lucrative opportunity for market players to introduce advanced technologies in vacuum blood collection tubes, which, in turn, will add to the growth of the vacuum blood collection tube market during the forecast period.
Vacuum Blood Collection Tube Market: Segmental Overview The global vacuum blood collection tube market, based on the product, is segmented into heparin tubes, EDTA tubes, glucose tubes, serum separating tubes, and ERS tubes. In 2021, the serum separating tubes segment held the largest share of the market. Moreover, the market for the EDTA tubes segment is expected to grow at the fastest rate during in the coming years.
The global vacuum blood collection tube market, based on the material, is segmented into PET, polypropylene, and tempered glass. In 2021, the PET segment held the largest share of the market. Moreover, the market for the same segment is also expected to grow at the fastest rate during in the coming years.
The global vacuum blood collection tube market, based on the application, is segmented into blood routine examination, biochemical test, and coagulation testing. In 2021, the blood routine examination segment held the largest share of the market. However, the market for the coagulation testing segment is also expected to grow at the fastest rate during in the coming years.
Based on end user, the vacuum blood collection tube market is segmented into hospitals and clinics, ambulatory surgical centers, pathology labs, and blood banks. The blood banks segment held the largest share of the market in 2021. Moreover, the same segment also is estimated to register the highest CAGR of 8.8% in the market during the forecast period.
COVID Impacts: The North American economy is severely affected due to the exponential growth of COVID-19 cases in the region. The COVID-19 pandemic is expected to have an imperceptibly negative impact on the market. The COVID-19 pandemic and the subsequent economic downturn have had a detrimental effect on people's mental wellness and built new barriers for those who already have a mental illness or behavioral disorders. About 4 in 10 adults in the US have reported anxiety or depressive disorder signs during the pandemic, a number that has remained mostly steady, up from one in ten adults who had related symptoms from January to June 2019. Many adults are reporting specific adverse effects on their mental health and well-being as a result of worry and stress about the coronavirus, such as difficulty sleeping (36%), eating (32%), increasing alcohol consumption or substance use (12%), and worsening chronic conditions (12%), according to the KFF Health Tracking Poll from July 2020. As the epidemic progresses, continuing and required public health actions expose many people to scenarios connected to poor mental health outcomes, such as isolation and job loss.
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