Growing preference for arterial blood sampling systems for prevention of needle-stick injuries is expected to drive the market growth
Growing preference for arterial blood sampling systems for prevention of needle-stick injuries is expected to drive the market growth
As per a study by Fact.MR, the global arterial blood sampling systems market is expected to grow due to the increasing aged population suffering from chronic disease and high demand for diagnosis of these diseases.
According to Blood Centers in the U.S., over 15 million pints of blood are transfused annually in the U.S., as one out of every seven individuals entering the hospital needs blood. Furthermore, more than 43,000 pints of blood is transferred daily in the U.S. and Canada combined.
As per a report by World Health Organization (WHO), around 1.62 billion people are affected by anemia across the globe. As the incidence of anemia continues increasing, the demand for red blood cell transfusion for its treatment will rise. This will in turn fuel the growth of the arterial blood sampling systems market.
The U.S. accounts for the largest market share on the back of increasing demand for diagnostic procedures and technological advancement in the field of clinical diagnostics. Besides this, more than 4.5 million people need blood transfusion each year in the U.S., as per the Blood Centers. Thus, making the country, a center point for the expansion of the arterial blood sampling systems market.
“Key players operating in the market are currently focusing on introducing new products to enhance their portfolio. Furthermore, some of the key players are investing in product developments to minimize pre-analytical error and strengthen their footprint in the global market,” says the Fact.MR analyst.
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Key Takeaways
- The U.S leads in the global arterial blood sampling systems market. The increasing number of surgical procedures conducted in the country is creating a high demand for arterial blood sampling systems.
- The market in the U.K is expected to grow at a significant CAGR owing to rapid technological development and the presence of key players in the country.
- In China, more than 700 people die in road accidents every day, according to World Health Organization (WHO). The increasing number of accidents and the need for blood transfer will boost the market growth.
- Presence of a large population base suffering from severe blood disorders presents a lucrative growth opportunity for the market in Asia-Pacific.
- The Middle East countries are investing in advanced healthcare fueling the growth of arterial blood sampling systems market.
Key Drivers
- High demand for blood diagnostic testing and rising shift towards preventive healthcare are some of the primary factors fueling the growth of the arterial blood sampling systems market.
- Rising rate of blood transfusion will boost the arterial blood sampling systems market sales.
- Technological advancements in arterial blood sampling systems are expected to surge the growth of the market.
Key Restraints
- Growing preference towards robotic surgery may restrict the growth of the arterial blood sampling systems market.
- Lack of skilled professionals for arterial blood sampling is negatively affecting the growth of the market
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Competitive Landscape
Key players operating in the arterial blood sampling market profiled by Fact.MR includes Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Qiagen, Nipro Medical Corporation, F. Hoffmann-La Roche Ltd., Medtronic Plc., Terumo Medical Corporation, Becton Dickinson, Narang Medical Ltd., Radiometer India, Greiner Bio-One, SEKISUI Medical, Sarstedt, Improve-medical, F.L. Medical, Hongyu Medical, SANLI Medical & Health Service, Gong Dong, CDRICH, and SZBOON among others. Key players in the Arterial blood sampling systems market are introducing new products into the market and investing in its product developments to maintain their lead. For instance,
- Roche launched a new digital diagnostic solution named Roche v-TAC and also received the CE mark availability for it in the year 2020.
- In 2021, Varian Medical Systems has made a new investment in an Israel established company to that help doctors provide precise and rapid blood sampling.
More Insights on the Arterial Blood Sampling Systems Market
Fact.MR offers unbiased analysis of the arterial blood sampling systems market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (vacuum blood collection system, blood collection tubes, microfluidic system, blood collection tubes, lancet, and needles), indication (diseases of the lungs, kidney failure, severe infections, diabetes complications, heart failure, poisoning, and hemorrhage), end user (hospitals, clinics, blood banks, and others), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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