Arterial Blood Collection Devices Market Broadening Over 2023 at CAGR of 9.1% Analysis by Type and Application

Arterial Blood Collection Devices Market
Market Research Future (MRFR) in its recently published study report asserts that the already booming market of Arterial Blood Collection Devices is expected to gain prominence over the forecast period. The market is forecasted to reach USD 1,624.6 Million by the end of 2023, growing at a CAGR of 9.1% during 2017-2023.

Arterial blood is oxygenated blood from arteries and pulmonary vein which appears bright red in colour. Arterial blood is collected either from femoral artery of thigh or radial artery of the wrist. Blood collected from arterial blood collection devices is used for arterial gas sampling. Arterial gas sampling or arterial-blood gas (ABG) test carries out the measurement of amount of blood oxygen or the gaseous exchange in the blood. Arterial blood collection devices include syringes, blood collection tubes, lancet, needles, vacuum blood collection system, microfluidic system and others. Arterial blood sampling is used for detection of chronic conditions like kidney failure, diabetes, heart disease, asthma, chronic pulmonary disease, haemorrhage, cystic fibrosis, and others.

The Global Arterial Blood Collection Devices Market is expected to grow at a CAGR of 9.1% during forecast period 2017-2023.

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Global Arterial Blood Collection Devices Market – Key Findings

  • Blood collection tubes segment in drug class held the largest market share in 2016, which was valued at USD 359.4 million in 2016.
  • Arterial blood gas sampling segment in application held the largest market share in 2016, which was valued at 25.6 million in 2016.
  • Asia Pacific region is expected to be the fastest growing market at the CAGR of 10.7% during the forecasted period.

Global Arterial Blood Collection Devices Market – Key Players

Some of the key players in this market are Becton, Dickinson and Company (U.S), Bio-Rad Laboratories, Inc. (U.S), NIPRO Medical Corporation (Japan), Qiagen (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), Terumo Medical Corporation (U.S), Thermo Fisher Scientific, Inc. (U.S) and others.

Global Arterial Blood Collection Devices Market – Competitive Analysis

There are various market players operating in well-established arterial blood collection devices market seems to be highly competitive. The market players include Medical device manufacturers, Medical device suppliers, Medical research laboratories, Research and Development (R&D) Companies, Market Research and Consulting Service Providers and Potential Investors. Some of the prominent market players are Becton, Dickinson and Company, Tasso Inc., Seventh Sense Biosystems, Inc. and Streck, Inc.

Founded in 1897, Becton, Dickinson and Company a medical technology company, headquartered in New Jersey, produces and markets medical devices, instruments and solutions. On receiving European CE marking (June 2016), the company launched a new safety blood collection set in the U.K, called the BD Vacutainer UltraTouch Push Button Blood. The blood collection set uses company’s patented technology PentaPoint during blood collection procedure. This technology allows needle penetration into the skin with great ease and reduces penetration pressure by 32% thus enhancing the entire blood collection procedure for patients and clinicians as well. In March 2016, the company received CE mark in Europe for its BD Vacutainer Barricor tube. These tubes are used to collect, separate and transport blood samples for diagnostic purposes. Thus broadening its product portfolio.

Founded in 2008, Seventh Sense Biosystems Inc., manufactures and develops blood collection devices. In March 2018, the company announced the achievement of CE mark for its TAP, one-step blood collection device. This blood collection device possesses tiny microneedles used to collect blood without any pain. This device makes blood collection easy, convenient and quick. This will enable the company to widen its geographical boundaries and enhance its product portfolio.

Furthermore, Streck Inc., a medical equipment company, headquartered in Nebraska, United States manufactures diagnostics products in hematology, chemistry, immunology, sed-rate instruments, blood collection tubes, and molecular biology for customers all round the world. In March 2018, the United States Patent Office granted patent to Streck, Inc. for its direct-draw blood collection tube for the stabilization of a patient blood sample.  With this patent, the company aims to focus on patient needs and increase its customer base.

Tasso Inc., located in Seattle United States, a bioengineering company, developed a blood-collection device called the HemoLink in 2015. The device has four small lancets and sticks on the upper arm, and collects blood by capillary action.the device is still being studied by Biomed Company and GHRI in order to under its working in larger and diverse population.

Global Arterial Blood Collection Devices Market – Segments

On the basis of type, the market is segmented into blood collection tubes, lancet, needles, vacuum blood collection system, microfluidic system, and other devices. Other devices includes arterial cannula, and blood bags. Blood collection tube is further sub-segmented into plasma separation tube, heparin tube, serum separating tube, EDTA tube, and others. Lancet is further sub-segmented into push button safety lancet, pressure activated safety lancet, and other lancets.

On the basis of application, the arterial blood collection market is segmented into arterial blood gas sampling and intraoperative blood salvage. Arterial blood gas sampling is further sub-segmented into diagnosis of disease and acid base status monitoring.

On the basis of end user, the arterial blood collection devices market is segmented into hospitals & clinics, laboratories, blood banks, and others.

Global Arterial Blood Collection Devices Market – Regional Analysis

Global arterial blood collection devices market is segmented on the basis of geographies or regions which mainly includes Americas, Europe, Asia Pacific, and Middle East & Africa.

Americas is the largest market for arterial blood collection devices. It comprises of two regions namely North America and South America. Important factors driving the growth of this market are demand of safe & reliable blood collection devices, concentration of major market players manufacturing blood collection devices, and extensive need of diagnostic services. Risk of blood transfusion transmissible infection may act as an obstacle for the growth of this market.

In 2016, North America accounted for the largest market share owing to an increase in demand of diagnostic procedures, awareness regarding use of sterile devices for blood collection, and technological advancement in the field of clinical diagnostics. Furthermore, increasing number of surgical procedures and high prevalence of lifestyle disease are also contributing to the growth of this market.

According to the America’s Blood Centers, one in every seven people entering the hospital needs blood. It also stated that in the U.S, more than 15 million pints of blood is transfused every year and more the 40 thousand pints of blood is transfused daily in the U.S and Canada.

Rapid population growth, and need of diagnostic devices & blood collection devices are important drivers of this market in South America.

Europe holds the second largest share of the global arterial blood collection devices market. Asia Pacific is the fastest growing arterial blood collection devices market across the globe. Demand of arterial blood collection devices mainly syringes and needles is increasing with an increase in incidence of lifestyle diseases such as diabetes and chronic heart diseases, aging population, as well as growing number of surgical procedures performed in hospitals. Increase in number of blood donations centers has been found in Asia Pacific due to rising awareness regarding the need of blood & blood products for live saving treatment & emergency care.

However, the Middle East & Africa holds the least share of the global market due to limited availability of medical facilities.

Major Table of Content

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

Continued….

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