Big Expectations for the future of Blood Collection Tubes Market

 Blood collection tube is a plastic or glass tube that is without any infection or contamination. These tubes also have a closure, which is evacuated in order to build a vacuum in the interior of the tube, which in turn enables drawing an exact liquid volume from the patient. These tubes are primarily used to collect blood samples. However, they can also be used to collect urine samples as well as serum separator tubes. The North American market for blood collection tubes is gaining traction from a number of factors including the escalating demand from aging population for blood products and increasing number of complex surgical procedures.

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The blood collection tubes market in North America was worth US$300.8 mn in 2014, which is estimated to reach a valuation of US$632.1 mn by 2023, expand at a robust CAGR of 8.6% during the forecast period of 2015 to 2023. The prosperity of this market can be attributed to the vast opportunities available for the players in the form of advanced screening tests, implementation of new blood collection techniques, and advent of automation in the process of collection of blood. These are some of the key factors anticipated to cater a significant demand in the North America market for blood collection tubes across North American countries such as the U.S. and Canada. On the other hand, stringent regulatory guidelines and healthcare policies will also reflect positively on the market during the forecast period as manufacturers are frequently coming up with new and safer technologies in order to collect blood. In addition to that, North America makes for a developed region, and thereby has high level of awareness among the consumers such as hospitals and diagnostic centers. This factor, as well as the subsidies offered by the government in the U.S. and Canada and advancements in blood collection technologies is expected to favor the market in a long-term.

Serum Separating Tubes In-Demand Segment

Based on product type, the global blood collection tubes market has been segmented into herapin tubes, plasma separation tube, EDTA tubes, serum separating tubes, rapid serum tubes, and others. Among these, the serum separating tubes segment accounted for 39.6% shares of the market in 2014, which was a result of utilization of diagnosis purposes across North America and utilization of diagnosis purposes across North America and increasing number of serum samples collected. Serum separating tubes utilize a particular gel that helps in separating blood cells from serum, and also contains particles that cause blood to clot easily. Serum is used to detect the presence of a particular antibody, antigen, hormone, and exogenous substances. Apart from that, the segment of rapid serum tubes is anticipated to increase at a higher rate during the forecast period, which is a result of advent of advanced technologies and incremented efficiency offered by the product.

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The U.S. Most Lucrative Market by a Country-mile

The U.S. is the most lucrative country in the North America blood collection tubes market, accounting for 84.6% of the demand, which is primarily a reflection of increasing geriatric population along with the prevalence of various diseases. In addition to that, the increasing government initiatives in the country of the U.S. is expected to drive this market further. For example, introduction of patient protection affordable care act (PPACA) in March 2010 provides healthcare coverage to more than 94% of Americans. Canada is the second most profitable country in the North America blood collection tubes market.

The North America blood collection tubes market is consolidated with a Becton Dickinson and Company being the pioneer and industry leader with 95% of the market in 2014. With a strong product portfolio of pre-analytical systems, BD is expected to maintain its stronghold in the near future. Terumo Corporation and Qiagen N.V. are some of the other prominent companies operating in this market.

Rising Need for Safe Blood Leads to North America Blood Collection Tubes Market

Transparency Market Research announces the publication of a new market research study titled “Blood Collection Tubes Market - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023.” The research study talks about the North America blood collection tubes market, its product segmentation, current trends, key growth drivers, restraints, major geographical segments, and vendor analysis. The study also covers the opportunities available for major players operating in the North America market for blood collection tubes.

As per the research study, in 2014, the North America market for blood collection tubes stood at US$300.8 mn and is predicted to reach US$632.1 mn by the end of 2023. The market is estimated to register a promising 8.60% CAGR between 2015 and 2023. The research study offers insightful inputs by industry experts along with projected figures to help decision-makers in formulating business strategies in an effective manner.

Blood is an important component of the human body and is widely used in hospital for diverse procedures. In addition, millions of blood units are donated across the globe to be used for accident victims, cancer therapies, organ transplantation, and other surgical procedures. Blood plays a crucial role in saving life; however, it can also prove to be fatal as it is considered as a potential vector for several infectious diseases.

The increasing geriatric population and growing prevalence of diseases in developed regions such as North America are some of the key factors expected to fuel the growth of the market throughout the forecast period. The increasing number of diseases affecting the general population is boosting the number of diagnostic blood tests, further driving the overall market. The availability of advanced medical infrastructure in North America is further estimated to augment the growth of the market in the next few years.

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The North America market for blood collection tubes has been categorized into rapid serum tubes, heparin tubes, EDTA tubes, serum separating tubes, plasma separation tube, and others. Among these segments, at present, the serum separating tubes segment holds a substantial share in the North America market for blood collection tubes. The North America market for blood collection tubes has been divided on the basis of geography into Canada and the U.S. The research study has included the market share, size, and projected figures of both the regions to give the readers a clear picture of the market.

Furthermore, the research study offers an in-depth vendor analysis of the North America market for blood collection tubes, including detailed company profiles, contact information, business policies, financial status, SWOT analysis, and recent news and developments if any. Some of the prominent players operating in the North America market for blood collection tubes are Terumo Corporation, Becton, Dickinson & Company, Sarstedt AG & Co., Greiner Group AG, QIAGEN N.V., and FL Medical srl.

The Future Shape of Blood Collection Tubes Market

No matter how large a leap we may take in diagnostics, even the best diagnostic tests fail to deliver accurate results if the biological sample isn’t well preserved. This especially applies to blood samples as blood analysis is still an important part of diagnostics. However, it wasn’t until the introduction of evacuated blood collection tubes market that several diagnostic processes became faster and more precise. In the years that followed, several improvements have been made to tube materials, the additives used to perform specific functions on blood samples, and the overall design of such tubes.

North America has been at the forefront of several new developments reported in the global blood collection tubes market. According to a Transparency Market Research report, the North America blood collection tubes market is on course to reach a valuation of US$632.1 mn by 2023. The market approximated US$300.8 mn in 2014, the report says.

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Here are the top five highlights of the blood collection tubes market in North America

• The volume of blood collected in North America every year for medical purposes is staggering. In the United States alone, estimates show that over 18 mn units of blood is transfused annually to treat hematologic diseases.
• Tests on blood samples are vital to the timely diagnosis of potentially life-threatening diseases such as dengue, thalassemia, and even certain types of cancer. This is causing an uptick in the demand of blood collection tubes.
• The coverage of several diseases and conditions under new reimbursement plans in the United States has caused a spurt in the number of diagnostic tests conducted here annually, subsequently leading to higher demand for blood collection tubes.
• By type, the blood collection tubes market can be divided into rapid serum tubes, plasma separating tubes, heparin tubes, serum separating tubes, and other tubes. Of these, North America sees the highest demand for serum separating tubes. Canada and the United States are the two key markets in North America, of which the United States blood collection tubes market generates the highest revenue.
• There is a growing demand for tubes that are compatible with automated blood collection processes and more advanced screening tests. This is prompting manufacturers to improve the design of their existing products and bring easy-to-use blood collection tubes to the market.

However, the growth of the market will likely be restricted by to some degree by the high cost of investing in sophisticated blood testing equipment. Since the safety mechanism of blood collection tubes is of utmost importance, products with the highest safety specifications will naturally hold a competitive advantage over their counterparts on the market. Some of the leading companies in the North America blood collection tubes market are Becton, Dickinson & Company (U.S.), Sarstedt AG & Co. (Germany), Greiner Group AG (Austria), Terumo Corporation (Japan), QIAGEN N.V. (Germany), and FL Medical srl (Italy).