It is anticipated that the Vacuum blood collection tube Market size will reach USD 13.92 Billion by 2032 at 6.5% CAGR during the forecast period of 2023-2032. The vacuum blood collection tube market is a dynamic and evolving sector influenced by various market factors that shape its growth and trends, with technological advances in healthcare being one of the most crucial among them. In addition, the rising incidence of chronic diseases is another important market factor. With a growing global burden of diseases such as diabetes, cardiovascular disorders, and infectious diseases, there is a heightened need for diagnostic procedures, driving the demand for vacuum blood collection tubes. Regulatory compliance occupies an important position in the vacuum blood collection tube market. The manufacturing, distribution, and use of these tubes are regulated by stringent regulations and standards set by health authorities and regulatory bodies. For quality assurance purposes, it is mandatory to comply with quality requirements that ensure safe usage of vacuum blood collection tubes so as to build the confidence level between healthcare providers and users.
Continued research activities within the healthcare industry also shape market dynamics. This has resulted in the production of improved products due to continuous efforts aimed at improving the performance capabilities of vacuum blood collection tubes. Economic factors like healthcare expenditure and budget allocations also influence this global market, which is further impacted by government initiatives, funding support, and reimbursement policies; this substantially affects adoption rates for vacuum blood collection tubes. On their part, economic stability alongside investment in healthcare infrastructure facilitates access to advanced medical technologies, hence contributing to overall market growth.
Geographical variations in terms of disease prevalence plus variations in regional healthcare infrastructure affect market trends across different locations worldwide. As such, demand for vacuum blood collection tubes can differ based on local healthcare settings, population demographics, or specific regional health priorities being considered too closely associated with relevant illnesses appearing within such regions - all leading to different amounts required locally depending upon where one lives! Competitive factors have an impact on market dynamics concerning vacuum blood collection tubes. The availability of key players, their market share, and strategic alliances dictate pricing, product development, and distribution. Furthermore, awareness and education initiatives impact market growth. This, in turn, increases the rate at which such healthcare providers, as well as end users, are adopting vacuum blood collection tubes after gaining knowledge about their benefits. The inclusion of educational programs, in addition to promotional efforts, therefore, creates a conducive environment for the market by highlighting its importance when used during diagnostic procedures.
Report Attribute/Metric | Details |
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Market Size Value In 2022 | USD 7.9 Billion |
Market Size Value In 2023 | USD 8.41 Billion |
Growth Rate | 6.50% (2023-2032) |
Vacuum blood collection tube Market Size was valued at USD 8.41 Billion in 2023. The Vacuum blood collection tube market industry is projected to grow from USD 8.95 Billion in 2024 to USD 13.92 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.67% during the projected timeframe (2024 - 2032).Blood-collecting devices are becoming more popular due to the rise in blood transfusions, and increasing spending on vacuum blood-collecting equipment are the key market drivers contributing to the market’s growth and revenue.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for vacuum blood collection is driven by the rising spending on vacuum blood collecting equipment. Higher blood transfusions, frequent specimen testing, and a rise in innovative blood-gathering equipment in healthcare facilities are driving the market. The increased use of transfusions of blood in operations and disaster situations propels the industry forward. As the frequency of cardiac, liver, kidney, pulmonary, and other chronic illnesses have climbed, the number of procedures conducted yearly increased.
Additionally, blood tests are necessary to differentiate between disorders utilizing blood samples. A vacuum blood collection device serves to gather and store blood for analysis. This industry's progress is dependent on the demands and options for blood preservation. End-user interest in Vacuum Blood Collection devices has expanded due to government initiatives encouraging health and medical facilities. Government operations and hospitals are driving the need for vacuum blood collection tubes, which is projected to boost the market. Furthermore, according to research released in the National Library of Medicine in April 2022, blood centers should concentrate on creating initiatives and regulations to enhance their country’s blood supply because the virus poses no immediate threat to blood security. Initiatives like raising new products such as blood collection household tubes will likely boost market growth throughout the projected timeframe.
COVID-19 harmed several business areas; the vacuum blood collection tube market, on the other hand, showed a rise in sales. The pandemic's emergence is predicted to generate a rise in demand. Because of the epidemic, there is a natural need for Vacuum blood-collecting tubes. Because of mass testing efforts, the industry is experiencing a record-breaking need during the pandemic phase implying that revenue and earnings in this sector have increased. Indeed, demand will stay high for the foreseeable future.
For instance, Cancer was the most prevalent cause of mortality in the world in 2020, accounting for 10 million fatalities, according to the World Health Organization (WHO). Furthermore, these tests are typically conducted before surgery in cases of chronic edema, blood clots, inexplicable discomfort, and rigidity. Furthermore, they provide improved awareness of the effects of inherited illnesses such as Hemophilia A & B. These variables will likely help this market generate money. Therefore, demand for Vacuum blood collection is expected to increase throughout the projection period due to the rising spending on vacuum blood-collecting equipment. Thus, driving the Vacuum blood collection tube market revenue.
The vacuum blood collection tube market segmentation, based on type, includes gel & clot activator tube, heparin tubes, and serum separating tubes. The serum separating tubes dominated the market, accounting for 37% of market revenue (USD 2.92 billion) in 2022. This is due to the benefits of separation tubes, such as the sharp division of serum coming from cells components of the bloodstream, the elimination of the necessity of dividing serum, the reduction of dangerous substance aerosolization, which is the reduction of pre-analytical restructuring time, as well as the ease of transit.
The vacuum blood collection tube market segmentation, based on application, includes blood routine examinations, biochemical tests, and blood coagulation testing. The blood routine examination category generated the most income of about 42% (USD 3.3 billion) in 2022 because of its wide range of uses of vessels in illness diagnostics. Regular blood tests assess the number of cells, protein molecules, and other components in the circulatory system. Furthermore, the findings of these tests may be available within hours, allowing for prompt treatment in extreme situations. Blood coagulation testing is anticipated to expand significantly during the projected timeframe.
Figure 1: Vacuum blood collection tube Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The vacuum blood collection tube market segmentation is based on end-user includes hospitals, clinics, and pathological laboratories. The pathological laboratories dominated the market, accounting for 49% of market revenue (USD 3.87 Billion) in 2022, due to the high frequency of many diseases, including hepatitis B virus, HIV, AIDS, Cancer, diabetes, and cardiovascular disease, which necessitate a variety of blood tests to determine the severity of the disease in pathology labs.
By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Vacuum blood collection tube market area is anticipated to grow and expand rapidly during the projected period, owing to cutting-edge medical infrastructure, renowned vacutainer vendors, and considerable government backing. In addition, the rising number of established health facilities will boost market growth in this region.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Vacuum Blood Collection Tube Market Share by Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe region’s Vacuum blood collection tube market accounts for the second-highest market share due to Growing public and private knowledge of donating blood and safe transfer processes due to favorable official and corporate campaigns that will boost market growth during the projected timeframe. Further, the German Vacuum blood collection tube market holds the largest market share, and the UK Vacuum blood collection tube market will expand steadily in the European region during the projected timeframe.
The Asia-Pacific Vacuum blood collection tube Market will dominate this market during the projected timeframe. This is due to rising demographics and illness epidemics are spreading. Furthermore, the increased frequency of chronic conditions that include Cancer and heart disease contributes to the APAC region’s rise. Moreover, China’s Vacuum blood collection tube market dominates the market share, and the Indian Vacuum blood collection tube market is anticipated to expand significantly at a fast CAGR in the Asia-Pacific region.
Vacuum blood collection tube Key Market Players & Competitive Insights
Leading market players invested heavily in research and development (R&D) to scale up their manufacturing units and product lines, which will help the Vacuum blood collection tube market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with important market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Vacuum blood collection tube industry must offer cost-effective and sustainable options to survive in a fragmented and dynamic market climate.
Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the key business strategies organizations use in the Vacuum blood collection tube industry to benefit customers and capture untapped market share and revenue. The Vacuum blood collection tube industry has recently offered significant advantages to the medicine and service industry. Moreover, more industry participants are utilizing and adopting these techniques, and cutting-edge technology has grown substantially. Major players in the Vacuum blood collection tube market, including Becton, Dickinson and Company, Sunphoria Co. Ltd., Narang Medical Limited, CML Biotech, Bio – X, Labtech Disposables, Hebei Xinle Sci &Tech Co., Ltd., Greiner Bio-One International, Biosigma, Medtronic plc., Terumo, are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.
Immunexpress Pty Ltd is a molecular diagnostic firm that creates tests for clinical use to treat immunological illnesses. It is driving an evolution in sepsis detection by quantifying the immune system's reaction to a pathogen to identify a causal infection. They announced SeptiCyte RAPID EDTA blood-compatible syringes would reach the European marketplace in August 2022. In hospitals, EDTA tubes for collecting blood are utilized for hematology tests.
Abacus Dx, founded in 1966, offers diagnostics pathology, clinical studies, and testing instruments to the healthcare industry. Its clients include commercial and governmental labs, blood donation facilities, and academic research units. They introduced RNA Complete BCT, the latest addition to Streck's renowned blood collection tube range, in February 2022.
Key Companies in the Vacuum blood collection tube market include
Vacuum blood collection tube Industry Developments
August 2022:Immunexpress, Pty Ltd. announced SeptiCyte RAPID EDTA blood-compatible syringes would reach the European marketplace in August 2022. In hospitals, EDTA tubes for collecting blood are utilized for hematology tests.
May 2022:Tethis SpA introduced See.d, the first blood specimen for fluid biopsy analysis. This cutting-edge technology entirely automates and standardizes the setup of a blood specimen during collection. The cellular portion is gradually stabilized on patented, nanocoated SBS slides to identify uncommon cells, whereas plasma is made accessible for cell-free content analysis. See.d analyses new blood samples taken in EDTA tubes between 4-6 hours of collection, ensuring optimal sample integrity.
February 2022:Abacus dx introduced RNA Complete BCT, the latest addition to Streck's renowned blood collection tube range, in February 2022.
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