Wilmington, Delaware, United States, March 07, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The valuation of the global blood collection tube market was US $ 2.3 billion at the end of 2022. However, this valuation is forecasted to become US $ 3.6 billion by 2031. This advancement is reportedly at a CAGR of 5.4%, a moderate market growth rate.
The rising rate of accidents and chronic diseases is causing the requirement for human blood to increase. This demand can be fulfilled with the help of relevant tubes. Therefore, this acts as a fundamental driving force for the market. Also, the medical infrastructure permits hospitals to store blood in tubes, which gives rise to the demand for blood collection tubes.
Routine tests at the clinic that include hematological processes often require EDTA blood collection tubes. Consequently, the demand for such specialized tubes within the market increases, thereby giving a push to the market. Also, some of the key players in the market have been focusing on manufacturing tubes that can restrict extracellular vesicle release from blood cells.
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Technological advancement has helped medical professionals to diagnose and predict sepsis more authoritatively and accurately. Also, test results could be stored and treated more rapidly, which again spikes the market.
The collection, storage, and transportation of the sample collected from the patient become much easier with the help of these tubes. Apart from this, tubes are suitable for various non-laboratory situations.
Key Findings from the Market Report
- The global blood collection tube market segmentation is broadly made based on the product type. This includes plasma separation tubes. The main functionality of the tube is identified from viral load testing, which opens a different market opening for the specified market segment.
- On the other hand, serum-separating tubes find their niche by separating serum from cellular constituents. Due to different application points, these two market segments create various market openings.
- PP tubes are used, mainly due to their ability to remain unreacted with acids, used to store reactive acids. These tubes are classified according to their material. Similarly, PS tubes deliver better observational results due to their material.
- The healthcare sector uses tubes on a larger level, as these tubes find their application in the medical field on a much larger level. Also, diagnostic centers use test tubes heavily. This depicts the market segment based on the type of user.
Regional Profile
Increasing viral fever cases and other chronic diseases like thyroid, diabetes, etc., in India have fuelled the demand for blood collection tubes. Consequently, the country has been one of the significant contributors to the blood collection tube market. A similar case could be observed in the case of other Asian countries. Therefore, Asia-Pacific is the region that leads the market.
Also, they have been significant market shareholders due to excellently developed medical infrastructure in North America and Europe. Among all countries, the USA, Canada, Germany, Spain, and many more have been major contributors to the healthcare sector and, hence, substantial market shareholders for the subject market.
Key Trends for the Blood Collection Tubes Market
- Abacus dx has extended its product portfolio with the help of the addition of new blood collection tubes in February 2022. Due to this, the organization could make diverse use of these tubes.
- Restricted for the European market in August 2022, Immunexpress, Pty Ltd. has progressed with rapid EDTA blood-compatible cartridges. This is the significant growth in the context of the market expansion.
- In 2021, Terumo Corporation, a medical device-producing organization acquired Health Outcomes Sciences, which works to reduce the cost of medical assistance. The effect of this acquisition shall be reflected in the price of the concerned materials in the market.
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Competitive Landscape
The competitive landscape of the global blood collection tube market is highly competitive, with various players taking an active part in the competition. Their different products depict the vastness of the market. Terumo Corporation is one of these key players, and it produces in mainly four verticals, including hypodermics, veterinary, IV catheters, infusion, and blood collection.
- Greiner AG is profound in producing catheters, capillary blood collection, and many more such products.
- Qiagen is another important player in the market, which produces digital PCRs, TB testing units, medical automation systems, and so on.
Key Players
- BD
- Greiner AG
- Terumo Corporation
- Abbott
- Cardinal Health Inc.
- Qiagen
- Improve Medical
- Medtronic
- SARSTEDT AG & Co. KG
- Chengdu Rich Science Industry Co. Ltd.
Market Segmentation
Product Type
- Plasma Separation Tubes
- Serum Separating Tubes
- Heparin Tubes
- EDTA Tubes
- Others
Material Type
- Plastic
- PET
- PP
- PS
- Others
- Glass
End Use
- Healthcare Centers
- R&D Centers
- Diagnostic Centers
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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