Arterial Blood Collection Devices Market Size To Expand at a Notable CAGR Of 9.1% During 2018 - 2023

Pune, India, January 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Arterial Blood Collection Devices Market. 

Overview:

Arterial blood collection devices are used to collect an arterial blood sample for the determination of arterial blood gases. The global arterial blood collection devices market is poised to exhibit a splendid CAGR of 9.1% and reach USD 1,624.6 Mn by the end of the forecast period of 2017-2023, projects Market Research Future (MRFR) in a minutely analyzed report.

Arterial blood collection helps to evaluate the adequacy of various parameters such as oxygenation status, oxygen-carrying capacity of blood, and ventilatory acid base. Arterial blood collection helps in monitoring the severity and progression of a documented disease process. The rise in the incidence of chronic diseases such as asthma, kidney diseases, diabetes, and others on a global scale generates massive demand for diagnostic testing which has driven the market for arterial blood collection devices.

The availability of a wide range of advanced products for blood collection is also set to augur the Growth of the global arterial blood collection devices market. Other driving factors include the rising number of surgical procedures and technological advancements in arterial blood collection devices.

On the contrary, the growth of the global arterial blood collection devices market might be impeded by the risk of transfusion-transmissible infection, complications related to arterial blood sampling, and growing inclination towards robotic surgery. Other risks include the possibility of needlestick injuries through syringes.

Segmentation

The global arterial blood collection devices market has been segmented based on type, application, and end-user.

By type, the global arterial blood collection devices market has been segmented into blood collection tubes, lancet, needles, vacuum blood collection system, microfluidic system, and other devices. The other devices segment has been further segmented into arterial cannula, and blood bags. The blood collection tubes segment has been further segmented into plasma separation tube, heparin tube, serum separating tube, EDTA tube, and others.  The lancet segment has been further segmented into push button safety lancet; pressure activated safety lancet and other lancets. The blood collection tubes segment held the largest market share in 2016 and was valued at USD 359.4 Mn.

By application, the global arterial blood collection devices market has been segmented into arterial blood gas sampling and intraoperative blood salvage. The arterial blood gas sampling segment has been further segmented into diagnosis of disease and acid-base status monitoring. The arterial blood gas sampling segment accounted for the largest market share of USD 25.6 Mn in 2016.

By end user, the global arterial blood collection devices market has been segmented into hospitals & clinics, laboratories, blood banks, and others.

Regional Analysis

The Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA) are the key markets for arterial blood collection devices.

The Americas commanded the highest position in the global arterial blood collection devices market and held the largest share of the market in 2016. Surging prevalence of chronic diseases, the presence of key players in the region, and extensive demand for diagnostic services propel the market growth in the Americas. Also, a growing focus on safe blood transfusion process coupled with high healthcare expenditure can also be credited for the market growth.

Europe follows the Americas closely and accounts for the second largest share of the global market. Availability of advanced treatment facilities, skilled healthcare professionals and rapid adop[tion of new therapies drive the market in Europe. High government support in the form of funds for R&D activities also contributes to the growth of the market.

APAC is expected to capture the highest CAGR of 11.6% over the forecast period. Increasing awareness regarding the use of sterile blood collection devices and growing number if surgeries in the region promote the growth of the APAc arterial blood collection devices market. China and India store lucrative growth opportunities.

The MEA market is expected to exhibit steady growth over the forecast period due to the rising prevalence of transfusion transmissible infections and high demand for diagnostics. The governments in the region have endeavored towards raising awareness regarding safe blood transfusion procedures which have further driven the growth of the market.

Competitive Landscape

The key players in the global arterial blood collection devices market include Terumo Medical Corporation (U.S), Qiagen (Netherlands), Bio-Rad Laboratories, Inc. (U.S), Becton, Dickinson, and Company (U.S), Thermo Fisher Scientific, Inc. (U.S), NIPRO Medical Corporation (Japan), and F. Hoffmann-La Roche Ltd (Switzerland).

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