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The Market Capillary Blood Collection Devices Market has witnessed a surge in demand, driven by the growing need for efficient and less invasive blood sampling methods. These devices play a crucial role in healthcare settings, enabling healthcare professionals to obtain small blood samples from capillaries, typically from a fingertip or heel. The market's growth can be attributed to the increasing prevalence of chronic diseases such as diabetes and cardiovascular disorders, where regular blood monitoring is essential for proper management. Additionally, the rise in point-of-care testing and the growing emphasis on home-based healthcare further contribute to the expansion of the market.
One of the key factors driving the adoption of capillary blood collection devices is the convenience they offer in comparison to traditional venous blood collection methods. Patients often prefer the less painful and quicker process of capillary blood sampling, making it an attractive option for routine monitoring and diagnostic purposes. This is particularly significant in pediatric and geriatric populations, where traditional venipuncture may pose challenges. As a result, the market has witnessed a shift towards the use of capillary blood collection devices, fostering a more patient-centric approach in healthcare.
Technological advancements have played a pivotal role in shaping the Market Capillary Blood Collection Devices Market. The development of innovative devices with features like one-touch operation, user-friendly interfaces, and safety mechanisms has enhanced their usability and reliability. Manufacturers are investing in research and development to introduce devices that provide accurate and consistent results while minimizing the risk of contamination. Furthermore, the integration of smart technologies, such as connectivity options for seamless data transfer to electronic health records, has positioned these devices at the forefront of modern healthcare practices.
The COVID-19 pandemic has also influenced the market dynamics of capillary blood collection devices. With an increased focus on decentralized testing and remote patient monitoring, the demand for these devices has experienced a notable upswing. The pandemic underscored the importance of rapid and accessible diagnostic tools, and capillary blood collection devices emerged as valuable tools in supporting efficient testing strategies, especially in resource-constrained settings.
Geographically, the market for capillary blood collection devices has witnessed significant growth in both developed and developing regions. North America and Europe have been early adopters of advanced healthcare technologies, contributing substantially to the market's expansion. Meanwhile, in developing regions, the market is driven by factors such as rising healthcare awareness, improving healthcare infrastructure, and government initiatives promoting point-of-care diagnostics.
However, challenges persist in the Market Capillary Blood Collection Devices Market, including concerns related to the accuracy of results obtained through capillary blood sampling and the potential for hematocrit interference. Additionally, stringent regulatory requirements for approval and the presence of alternative blood collection methods pose obstacles to market players. Nonetheless, ongoing research and development activities aim to address these challenges and further enhance the performance and reliability of capillary blood collection devices.
Capillary Blood Collection Devices Market Highlights:
Capillary Blood Collection Devices Market Overview
Capillary Blood Collection Devices Market Size was valued at USD 1.97 Billion in 2023. The Global Capillary Blood Collection Devices industry is projected to grow from USD 2.12 Billion in 2024 to USD 4.02 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.23% during the forecast period (2024 - 2032).
Impact of COVID-19
The outbreak of COVID-19 brought a significant impact on the capillary blood collection devices industry. The lockdown imposed during the pandemic hampered the production and supply chain owing to the temporary shutdown of the manufacturing units.
In December 2023, the Food and Drug Administration (FDA) approved the use of the BD MiniDraw™ Capillary Blood Collection System for obtaining high-quality blood samples from a patient's finger. The device comprises a capillary blood collection tube and a finger sleeve designed for use by a skilled healthcare professional, eliminating the requirement for a phlebotomist. The FDA clearance encompasses the collection of small amounts of blood for a lipid panel, certain chemical assays, and hemoglobin and hematocrit testing. A study was conducted to assess the effectiveness of the BD MiniDraw Collection System. The study involved 45 participants who received formal training on the system prior to performing simulated blood collections. The findings indicated that individuals without formal training in phlebotomy achieved comparable proficiency to those who received training in the utilization of the capillary blood collection device. Furthermore, a comparative investigation demonstrated that there were no significant changes, either statistically or clinically, when analyzing hemoglobin and hematocrit using capillary or venous blood samples.
In October 2023, European regulators granted Tasso Inc. permission to sell its Tasso+ device in the EU. This approval adds another option to the market for blood collection. Tasso has created the Tasso+, a disposable blood lancing device that gathers a little amount of blood from the upper arm. Tasso asserts that it is the inaugural device of its category to receive both the CE mark and U.S. FDA approval.
Capillary Blood Collection Devices Market Trends
Drivers
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Growing Incidence of Chronic Diseases to Boost the Market
The increasing incidence of chronic ailments among the expanding populace is predicted to be a notable factor that can develop the market during the forecast period. The growing demand for minimally invasive methods is anticipated to be another noteworthy factor that is likely to fuel the need for the device, thereby augmenting the capillary blood sampling devices. Besides, the rising application of the technique in conjugation with PoC diagnostics has become the most chosen method of testing in remote health settings, which is recognized to be another salient cause that may strengthen the capillary blood collection devices industry during the forecast tenure.
Opportunities
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Rising Requirement for Safe Blood Collection Technologies to Offer Significant Opportunities
The increasing demand for safe blood collection technologies is predicted to be a salient factor that is expected to offer a significant opportunity for market expansion during the review period.
Restraints
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Risks Associated with the Capillary Blood Assortment Technology to Hamper the Market
The high risks associated with the capillary blood collection devices and the capillary blood assortment technologies are expected to be a salient cause that can hamper the market growth during the assessment tenure.
Challenges
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Disadvantages of Micro-Collection of Blood to Pose a Significant Challenge
The disadvantages of micro-collection of blood and the scope of blood contaminations are anticipated to pose a significant challenge that is likely to obstruct the market expansion during the review tenure.
Cumulative Market Growth Analysis
MRFR asserts that the global capillary blood collection market is anticipated to experience significant market growth while thriving at a CAGR of 10% during the analysis timeframe. The expansion of the market can be attributed to the growing incidence of chronic illness.
Capillary Blood Collection Devices Market Segment Insights
Capillary Blood Collection Devices Material Insights
In the material segment of the global capillary blood collection devices market, the plastic devices segment is anticipated to dominate the market during the forecast period. The development of the segment can be attributed to the extensive application of plastic for the production of various medical equipment owing to its cost-effectiveness. On the other hand, the glass segment is also projected to acquire significant traction during the forecast period.
Capillary Blood Collection Devices End-User Insights
In the end-user segment of the global capillary blood collection devices market, the hospitals and clinics segment is anticipated to acquire significant traction during the forecast period. The segment had acquired a market value of USD 190.36 million in 2019.
Capillary Blood Collection Devices Type of Devices Insights
In the type of devices segment of the global capillary blood collection devices market, the lancets segment is anticipated to grow significantly during the forecast period. The expansion of the segment is projected to the rising demand for minimum invasiveness during blood collection.
Regional Analysis
North America to Lead the Global Market
North America is expected to dominate the market during the forecast period owing to the increasing demand for minimally invasive surgeries method. The rising incidences of chronic ailments among the rising populace are expected to further grow the need for the product, thereby developing the market growth. In addition, the substantial participation of established players in the region is likely to strengthen the market in the region. Among all, the US is anticipated to make the most crucial participation in developing the market during the forecast period.
Europe to Acquire the Second Largest Market Share
Europe is estimated to acquire the second largest market share during the forecast period. The expansion of the regional market can be attributed to the rising R&D and the growing prevalence of chronic illness among the expanding populace. In addition, the increasing initiatives of partnership among key players of the region are projected to play a salient role in developing the market in the region.
APAC to be the Fastest Growing Region
APAC is anticipated to be the fastest-growing region of the market during the projection tenure. The growing initiatives to develop the healthcare sector in the developing countries are expected to develop the market during the projection timeframe. In addition, the rising prevalence of chronic illnesses such as diabetes is recognized to be another salient cause that can augment the market in the region.
MEA to Acquire the Least Market Share
MEA is expected to acquire the least market share during the forecast period. The presence of underdeveloped countries is likely to be a significant cause that may hamper the market growth in the region.
Competitive Analysis
Various players of the market are adopting strategies such as partnerships, mergers, and acquisitions to gain higher impetus in the global market while also focusing on expanding their product portfolio. The growing incidence of chronic illness has led to a higher demand for innovative methods for which players are concentrating on the launch of new products, which has increased the competition among the players in the industry.
List of Key Players Covered in the Report
- F. Hoffmann-La Roche AG
- Danaher Corporation
- Abbott Laboratories
- Novo Nordisk AS
- Becton Dickinson and Company
- Medtronic PLC
- B. Braun Melsungen AG
- Thermo Fisher Scientific Inc.
- Terumo Corporation
- Ypsomed Holding AG
- HTL-STREFA SA
- Sarstedt AG & Co
- Owen Mumford Ltd
- Greiner Bio-One
- Improve Medical
- Chengdu Rich Science Industry Co., Ltd.
Recent Developments
January 2021- Becton Dickinson and Company, a renowned global medical technology company, announced Tom Polen, as the BD CEO and President.
January 2021- Medtronic has announced the first enrolment in its trial evaluating the safety of adaptive deep brain stimulation (aDBS) in patients with Parkinson’s disease.
Report Overview
The report on the global capillary blood collection devices market comprises primary challenges, opportunities, drivers, and restraints that bring a significant impact on the market. MRFR critically assess the market size, taking into account the base year and the projected year. The report also studies the impact of COVID-19. Apart from comprehensive market segmentation, the report also highlights the latest business scenario. In addition, the report also comprises well-known vendors and the top strategies followed by them to stay competitive in the industry.
Capillary Blood Collection Devices Market Segmentation
Capillary Blood Collection Devices Material Outlook
- Plastic
- Glass
- Stainless Steel
- Others
Capillary Blood Collection Devices End-User Outlook
- Hospitals & Clinics
- Diagnostic Centers and Pathology Laboratories
- Home Diagnostics
- Others
Capillary Blood Collection Devices Type of Devices Outlook
- Blood Collecting Tubes and Collector
- Lancets
- Warming Devices
- Others
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