The global blood collection market is forecast to achieve a revenue earning of US$9.8 bn by the completion of 2022 after progressing from a US$7.7 bn earned in 2017. During the forecast period 2017–2022, the market could rise at a 4.7% CAGR.
Albany, NY -- (SBWIRE) -- 11/15/2017 -- According to the latest findings, the global blood collection market is anticipated to expect promising growth opportunities arising from the surge in the number of a number of accidental cases and surgical procedures performed globally, including cancer and organ transplant surgeries. The application of blood collection in diagnostics could gain strength with the increasing cases of blood-related disorders which require blood for their treatment. To explore the future opportunities in the blood collection market, Market Research Hub (MRH) has freshly announced the inclusion of a new study to its vast repository which is titled as "Blood Collection Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2022". The research provides a holistic perspective on the market's growth throughout the above-mentioned forecast period in terms of volume and CAGR, across different geographies, including North America, Europe, Asia-Pacific excluding Japan, Middle East & Africa (MEA) and Latin America.
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Blood collection is needed for medical testing, transfusions, donations, and for research. In the present time, enriching prevalence of infectious diseases in developed regions such as North America spur the adoption of blood collection products, which consequently prompting blood collection market growth. Considering this, Analysts found that North America is predicted to take the lead in the international blood collection market while growing at a 4.9% CAGR between 2017 and 2022. End users such as hospitals and diagnostic centers could significantly add to the growth of the market with rising healthcare awareness to prevent and control infectious diseases. As per the key findings, the global blood collection market is prophesied to rise at a 4.7% CAGR to reach a valuation of US$9.8 bn by the end of 2022.
Initially, the report describes the scope of the analysis along with the current market overview of blood collection market. The subsequent section also includes five forces analysis and present details on market segmentation. Moreover, the study also highlights the drivers, restraints and opportunities expected to influence market's growth during the forecast period. Growing awareness about blood donation through various government initiatives is a prime factor impacting the market. This growth could be supported by the rise of emerging markets, increasing disposable income, rising count of hospitals, growing medical tourism, and advancing the development of healthcare infrastructure.
Further, the report fragments the global blood collection market on the basis of product type , end user and application. By product, the market could be divided into vials, blood bags, blood lancets, blood collection tubes, blood collection needles and syringes, and others. Of these, needles and syringes are the largest revenue generating segment in 2017 and is also proposed to maintain its dominance during the forecast period. End-user are hospitals and diagnostic centers, blood banks and others. Application-wise segmentation includes diagnostics and treatment. Apart from the growth factors, the demand for blood collection could be hampered by risks associated with blood transfusion, mostly in underdeveloped nations. However, there are several awareness plans and campaigns conducted by governments and foreign entities to tackle this issue.
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In order to provide users of this report with comprehensive view of the market, analysts have included detailed competitiveness analysis by profiling key players with their SWOT analysis and strategic overview. The worldwide blood collection market could be marked by leading companies such as Nipro Corporation, Abbott Laboratories, Inc., Medtronic Plc., Haemonetics Corporation, Becton, Dickinson and Company, Terumo Corporation, QIAGEN N.V., F.L. Medical SRL, Greiner Holding AG, and Sarstedt AG & Co.
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