Blood Collection Market Size And Statistics Forecasts Up To 2027

The global blood collection market USD 4.2 Billion in 2020 and is anticipated to grow at USD 6.44 Billion till 2027 recording a CAGR of  6.3% during the forecast period 2021-2027. The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.

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Blood collection process is carried out to collect one’s blood for the purpose of performing laboratory testing. It is a routine process in which blood of the person is collected from venous access devices or fingerstick. Generally, the blood is taken through venipuncture, process to puncture the peripheral vein. Diagnosis of different cases such as electrolytic imbalances, testing the risk factors such as LDL and HDL for examining the therapeutics efficiency is possible through collected blood specimens.

Huge transmission of illnesses through blood donation and blood transfusion is one of the crucial factors to drive the blood collection devices market. Furthermore, favorable government policies, growing surgical procedures and huge demand for blood products in aged population are the significant factors anticipated to impel the market over the forecast period. Nearly 266Mn -359 Mn surgical procedures were recorded in the year 2012 across the globe. In addition, increase in awareness among people about proper blood management during the transfusion and huge developments in technology used for the blood collection process is projected to propel the growth of the market. Furthermore, another important factor, which greatly affects the blood collection market, is growing research and development investment in regenerative medicine and cell therapies.

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There are several key players operating in the global blood collection Market, which include Grifols (Spain), Medtronic (U.S.), Becton, Fresenius (Germany), Terumo (Japan), Haemonetics (U.S.), Kawasumi Laboratories (Japan), Nipro Medical (U.S.), Greiner Holding (Austria) and F.L. Medical (Italy).

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