Rising demand for blood testing samples with lancet is driving the revenue growth of the market.
Rising demand for blood testing samples with lancet is driving the revenue growth of the market
Market Size – USD 1.40 Billion in 2020, Market Growth – at a CAGR of 5.3%, Market Trends – Growing number of diabetes patients globally
The global capillary blood collection market size is expected to reach USD 2.10 billion by 2028 at a CAGR of 5.3%, according to the latest report by Reports and Data. Rising prevalence of chronic diseases has resulted in increasing demand for capillary blood collection devices, which is one of the prominent factors fueling the revenue growth of the market. Additionally, easily available point of care diagnostics and increasing awareness about newly developed capillary blood collection products are further fueling the revenue growth of the market.
The technique to draw blood through capillary devices is extensively used for pediatric patients as it is complicated to collect venous blood from artery in infants. Moreover, drawing blood using capillary devices is favored in several ICU settings, as patients lose considerable quantity of blood during surgeries. Ease of usage and effectiveness major factors promoting the use of these devices for home care diagnosis as well as testing, typically in case of diabetics, which is accelerating the market revenue growth.
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Further key findings in the report
- By material, plastic segment dominated other segments in terms of revenue share in the global market in 2020 owing to its cost-effective, lightweight, and bio-compatible nature with the human body. Moreover, growing adoption of plastic, especially in healthcare due to its flexibility, chemical stability, durability, safety, transparency, and clarity is further contributing to the segment’s revenue growth.
- Growing number of diabetes patients and increasing demand for blood testing samples with a lancet are some of the major factors expected to propel the capillary blood collection devices market revenue growth during the forecast period.
- The hospitals and clinical laboratories segment registered highest revenue share in the market in 2020 owing to rising number of blood testing done there.
- Asia Pacific market revenue is predicted to increase at a significant CAGR in the global market going ahead. Rising population and rising prevalence of various chronic diseases including cancer and diabetes are some of the major factors boosting to the revenue growth of the regional market.
- Leading companies operating in the capillary blood collection market include Becton, Dickinson and Company (U.S.), Thermofisher Scientific (U.S.), Terumo Corporation (U.S.) B. Braun Melsungen AG (Germany), Ypsomed Holding AG (Switzerland), Bio-Rad (U.S.), and Sarstedt AG & Co (Germany).
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For the purpose of this report, Reports and Data has segmented the global capillary blood collection market on the basis of device type, source, application, end user, and region:
Device Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Lancing Devices
- Puncture Devices
- Incision Devices
- Microcontainer tubes
- Microhematocrit tubes
- Sealants
- Warming devices
- Others (if any)
Source Outlook (Revenue, USD Billion, 2018 - 2028)
- Infants and Young Children
- Elderly Patients (with Fragile Veins)
- Severely Burned Patients
- Point-of-Care Testing
Application Outlook (Revenue, USD Billion, 2018 - 2028)
- Point-of-Care Testing
- Blood Glucose Monitoring
- Neonatal Screening
- Blood Gases Testing
- Bilirubin
- Dried blood spot testing (DBS)
- Blood Examination
- Others (if any)
End User Outlook (Revenue, USD Billion, 2018 – 2028)
- Blood Banks
- Hospitals
- Diagnostic Centers
- Others (if any)
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Regional Outlook (Revenue, USD Billion, 2018 - 2028)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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