Global Blood Collection Tubes Market is anticipated to rise at a value CAGR of 8.1% over 2019-2028. According to a study published by Insure Insights on the Global Blood Collection Tubes Market. Blood Collection Tubes are tubes used to collect blood. They are either made up of cleaned glass or plastic tubes and have a close end to make a vacuum inside the tube to empower the suction. Blood collection tubes have been used in diagnostics, in various medical procedures, blood transfusion and also for blood donation. Increasing demand of serum separation tubes & rapid serum tubes in clinics & laboratories so as to reduce time and to increase efficiency is expected to drive the blood collection tube market.
Top Driver: The rise in the incidences of Chronic Diseases around the globe have escalated the demand of the market
The surge in the population and the increase in the incidences of Chronic Diseases are the primary factors driving the blood collection tubes market. The rise in the geriatric population and the increase in blood donors globally and government initiatives for blood donations have escalated the overall market growth. The surge in complex surgeries and the need for blood transfusion are fueling the market growth
Serum Separating Tubes have made the highest segmental growth in the Global Blood Collection Tubes Market
Based on the Product Type, Serum Separating Tubes segment have dominated the segmental growth due to the rise in the R&D activities in the healthcare sector, and the rising prevalence of chronic diseases has further propelled the demand for serum and thus have improved the segmental growth. The surge in the geriatric population has further escalated the segmental growth. The rise in the number of diagnostic tests, blood typing, and the use of serum in obtaining the therapeutic index of a drug candidate in a clinical trial have further driven the growth of the market.
In terms of the End User, diagnostic tests segment has obtained the most significant market growth owing to the rise in the incidences of various chronic diseases, increase in the number of various infections and disorders have further contributed actively to the market growth.
Asia Pacific boosts the regional market due to an increase in the population growth
Asia Pacific has witnessed a surge in population growth, and the growth in the geriatric population has escalated regional growth. The increase in healthcare spending and governmental initiatives for better health of the individuals have boosted the demand for blood collection tube market. The increase in the prevalence of lifestyle diseases has led to a rise in blood testing and has improved the overall regional growth. The use of vacuum blood collection tubes for blood culture for detecting bacteria present in the blood and technological advancements in the healthcare facility has improved the overall regional market revenue.
Strategic Collaborations, Mergers, and Acquisition, are the major strategies of the competitors
The Players of the Global Blood Collection Tubes Market is fragmented. Collaborations, Mergers, and acquisitions are strategies used by competitors. The key competitors of the Global Blood Collection Tubes Market are Abbott, Biosigma, IMPROVE MEDICAL INSTRUMENTS Co. Ltd., Greiner Group AG, Cardinal Health, QIAGEN, SARSTEDT AG & Co. KG, Sunphoria Co., Ltd., Medtronic, and TERUMO CORPORATION.
Cardinal Health: Cardinal Health, is one of the key competitors of the Global Blood Collection Tubes Market; for instance, In July 2017, Cardinal Health had announced the acquisition of Medtronic’s Patient Recovery Business. The deal was done for USD 6.1 billion. The acquisition was made by Cardinal Health to strengthen its product portfolio
Abbott: Abbott is a popular competitor in the Global Blood Collection Tubes Market. In January 2017, Abbott had announced the acquisition of ST. JUDE MEDICAL; they are a medical device company. The acquisition was made by Abbott to strengthen its product portfolio with innovative medical devices.
Scope of the Report
By Product Type
By End User
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