Blood Collection Tubes Market: Snapshot
Growing need for performing blood tests owing to instances of numerous types of diseases is one of the key reasons boosting the global blood collection tubes market. As the name suggests, the main purpose of blood collection tubes is to collect blood specimens for testing. Generally, these tubes are manufactured using plastic or glass materials. The evacuated structure of blood collection tubes helps in collecting the exact volume of patient’s blood specimen.
While manufacturing blood collection tubes, companies engaged in the global blood collection tubes market employ color-coding system. The closures of these tubes are given different colors according to the additive present in the tubes. Thus, this color-coding system helps paramedical staff to select the apt test tube according to the diagnostic test to be carried out on the blood sample.
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Before taking patients for any surgical procedures, it is mandatory to perform some important blood tests of that patient. In recent times, there is surge in the surgical procedures performed worldwide. This includes various critical surgeries such as organ transplants, heart surgeries, and many more. Thus, rise in the number of surgeries in the world is projected to stimulate the growth of the global blood collection tubes market is the upcoming period.
Besides, growing health awareness among a wide range of worldwide population is pegged to increased number of preventive healthcare tests. This trend is fueling the growth of the global blood collection tubes market in recent times.
The global market for Blood collection tubes was valued at US$ 1,569.8 million in 2017. The market is forecast to expand at a CAGR of 6.5% during the forecast period, 2018-2026.
Blood collection tubes are plastic or glass tubes used to collect blood specimens for testing. These tubes have closure, which is evacuated in order to build a vacuum in the interior of the tube, which in turn enables drawing an exact volume from the patient. The closures of Blood Collection tubes are color coded which makes the laboratory staff to distinguish between different tests. Blood Collection Tubes are useful diagnostic tools in the practice of laboratory testing. Blood Collection Tubes provide accuracy and precision, safety, ease-of-use and speed of diagnostic process. Blood Collection Tubes contain clot activators coated with water soluble polymer or anticoagulant. Blood collection tubes include Plasma Separating Tube, Serum Separating Tube, Heparin Tubes and EDTA tubes.
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The global market for Blood Collection Tubes market is segmented as per product type, material type and end use. The growing demand for accuracy and precision in the medical tests is acknowledged as a key factor driving the Blood Collection Tubes market. Blood Collection tubes are the standard means of collecting blood specimen throughout healthcare & medical research to this day as they provide greater accuracy in blood-to-additive ratios. The IR sterilization of these tubes provide enhanced precision. The growing number of advanced surgeries requiring blood transfusion fuels the blood collection tubes market. End users such as Hospitals, Blood banks and pathology labs could significantly add to the growth of blood collection tubes. Blood collection using these tubes consumes less time as there is single needle penetration for an amount of blood sample to be collected. With the help of the advanced technology and high quality additives in blood collection tubes, the blood collection is done only once and used for multiple tests. The additives preserve the blood constituents in the Blood Collection tubes and the clot activators present clots the blood quickly for the serum separation. High preference for plastic blood collection tubes is expected to boost the growth of the blood collection tubes. The manufacturers are now moving towards the production of plastic blood collection tubes as they are not only inexpensive but also safer than glass. Growth of geriatric population in North America and China to fuel the blood collection tubes market.
Blood Collection tubes Market
Serum separating tube segment of blood collection tubes market was valued at US$ 722.7 million in 2017 and is projected to expand at a CAGR of 7.1% over the forecast period 2018-2026. On the basis of plastic material type, blood collection tubes market is estimated to create incremental $ opportunity of US$ 790.1 Mn, during the forecast period. The Healthcare centers segment was valued at US$ 744.8 Million in 2017 and is forecast to reach US$ 1,371.5 Mn, by the end of the forecast period (2016). Glass Material type segment is forecast to register a CAGR of 5.8%, during the forecast period.
Drivers and Restraints
Blood Collection tubes are the standard means of collecting blood specimen throughout healthcare & medical research to this day. Blood Collection Tubes provide greater accuracy in blood-to-additive ratios. Sterilization by Irradiation method provides an enhanced precision. The global blood collection market embraces spurred growth opportunities arising from the surge in the number of surgical procedures performed globally, including cancer and organ transplant surgeries. End users such as hospitals and diagnostic centers could significantly add to the growth of the blood collection tubes market with the rising health care awareness among people to prevent and control infectious diseases. Blood Collection Tubes provide the ease of blood collection by single penetration of the needle.
Blood collection tubes are sterilized using IR technology which eliminates the steps of washing of syringes and tubes. Less time is consumed in the single penetration and collection of the blood. Plastic Blood Collection tubes to boost the growth of blood collection tubes. Change in preference for plastic Blood collection Tubes instead of glass provided several practical operational advantages, such as reduced centrifugation time, ability to use primary collection of tubes, decreased breakage hazard and decreased weight. Plastic blood collection tubes have been widely shown to be suitable for routine clinical chemistry analysis, hormone analysis and therapeutic drug monitoring. Over the past few years there has been a dramatic rise in the population of people more than 65 years of age in North America, therefore stoking the growth of blood collection tubes market. The rapid growth of geriatric population will fuel the growth of blood collection tubes market.
Competitive Landscape
Key players operating in the global market for Blood Collection Tubes include Beckton Dickinson & Co. Greiner Group AG, Terumo Corporation, Abbott Laboratories, Cardinal Health Inc, Qiagen N.V, Improve Medical Instruments., Medtronic PLC, Chengdu Rich Science Industry, and Sarstedt AG & Co.
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