Latest News- Blood Collection Market: Diagnostics is expected to lead the Application segment during 2025-2029

The Blood Collection Market is being driven by Rising prevalence of chronic diseases

The Blood Collection Market is expected to grow at a CAGR of 8.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1774.8 million. The global blood collection market is experiencing robust growth due to the introduction of innovative products from key vendors. One such recent launch is the BD Vacutainer UltraTouch Push Button Blood Collection Set by Becton, Dickinson and Company (BD), unveiled in India on March 28, 2024. Designed to improve patient comfort and streamline blood collection procedures, this new product incorporates BD RightGauge technology, featuring a thinner needle for reduced patient discomfort during insertion. Furthermore, BD PentaPoint technology is integrated to ensure a less invasive and smoother puncture process. These advancements aim to enhance the overall patient experience and contribute to the market's continued growth. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Diagnostics
  • Treatment
• Product Type
  • Needles and syringes
  • Vacutainer tubes
  • Blood bags
  • Lancets
  • Centrifuges
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
    • France
    • Spain
  • Asia
    • China
    • India
    • Japan
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising prevalence of chronic diseases
• Growing number of blood donation drives
• Aging population

However, the market also witnesses some limitations, which are as follows:

• Concerns for vendors over product recalls
• Regulatory compliance
• Safety issues and needle-stick injuries

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Market Scope in Blood Collection Market Research Report

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Research Analysis Overview

The Blood Collection Market encompasses various aspects including blood product supply and demand, management of blood banks, and regulation of blood products. Key areas of focus are blood product safety, preservation, and transportation. Blood donation and inventory management are crucial for preventing shortages, while compliance with standards and guidelines ensures product quality. Innovation in blood product development and technology, as well as education and awareness, are essential for reducing wastage and complications from transfusions. Regulations and legislation govern the processing, labeling, and distribution of blood products to ensure patient identification and safety. Immune-related reactions and transfusion complications necessitate rigorous compatibility testing and meticulous management. Blood storage guidelines, expiration, and traceability are also vital components of the market. Laboratory testing and analysis play a significant role in ensuring blood product safety and identifying potential risks. Overall, the Blood Collection Market prioritizes patient safety, efficiency, and innovation to meet the ever-evolving needs of the healthcare industry.

Market Research Overview

The global life sciences tools and services market encompasses the industry sector dedicated to research and development (R&D) of various product categories, including capital equipment, instruments, accessories, and consumables. This market also covers life sciences-related services such as contract research, manufacturing, and sales. According to Technavio, the healthcare market size is determined by the consolidated revenue generated by manufacturers of medical equipment, supplies, pharmaceuticals, biotechnology, and life science tools and services. Factors driving the expansion of the global life sciences tools and services market include the rising elderly population, necessitating increased health monitoring and medication management. Additionally, advancements in technology for refrigeration, lung injury prevention, and infectious disease diagnosis are significant growth catalysts. Furthermore, the market will be influenced by the increasing prevalence of chronic diseases, climate change, and the need for temperature-controlled transportation to maintain product efficacy.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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Website: www.technavio.com/