The blood collection tubes market share will post an incremental growth of USD 752.75 million, progressing at a CAGR of 6.32% during the forecast period. The increasing prevalence of chronic conditions will offer immense growth opportunities to market vendors. The blood collection tube market is fragmented, and the vendors are deploying growth strategies such as using low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Blood Collection Tubes Market by Product and Geography - Forecast and Analysis 2022-2026” provides a detailed market analysis of the prevalent market forces, trends, and challenges that are likely to impact the market in focus.
The blood collection tubes market is segmented by product (EDTA tubes, serum separating tubes, heparin tubes, ESR tubes, and glucose tubes) and geography (North America, Europe, Asia, and the Rest of World (ROW)).
The growth of the blood collection tubes market in the EDTA tubes segment will be significant during the forecast period. The significant increase in the demand for these tubes in hematological testing will facilitate market growth.
By geography, high demand for blood transfusion in countries such as the US and Canada leads to an increase in the requirement for blood donations which in turn drives the blood collection tube market size in North America. 48% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for blood collection tubes in North America.
The increasing prevalence of chronic conditions will directly influence the sales of the blood collection tube market. In addition, the growing number of strategic developments to new products is one of the major blood collection tube market trends that will have a positive impact on market growth. However, the lack of trained professionals will hamper the blood collection tube market growth.
Some of the major blood collection tube market vendors are AdvaCare Pharma, Becton Dickinson and Co., Biosigma SpA, Bio-x, Borolab Scientific Glass Pvt. Ltd., Cardinal Health Inc., CML Biotech Pvt. Ltd., FL MEDICAL srl Unipersonale, Greiner AG, Guangzhou Improve Medical Instruments Co. Ltd, Hebei Xinle Sci and Tech Co. Ltd., Hindustan Syringes and Medical Devices Ltd., Labtech Disposables, Medtronic Plc, Narang Medical Ltd., QIAGEN NV, and SARSTEDT AG and Co. KG
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the blood collection tubes market forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the blood collection tubes market share.
Prediction on the upcoming trends, drivers, and factors that challenge the growth of the blood collection tube market.
Blood collection tubes industry growth across North America, Europe, Asia, and Rest of World (ROW).
