Venous Blood Collection Market by Application and Geography - Forecast and Analysis 2022-2026

The venous blood collection market share is expected to increase to USD 868.11 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.73%.

The report extensively covers venous blood collection market segmentations by the following:

• Application - Vein blood gas sampling and intraoperative blood salvage
• Geography - North America, Asia, Europe, and Rest of World (ROW)

The venous blood collection market report offers information on several market vendors, including Aptaca Spa, Becton Dickinson and Co., Bio Rad Laboratories Inc., Cardinal Health Inc., DBO Preanalytical System, FL MEDICAL srl Unipersonale, Fresenius Kabi AG, Greiner Bio One International GmbH, ICU Medical Inc., Jiangsu KANGJIAN Medical Apparatus Co. Ltd., Medtronic Plc, Narang Medical Ltd., Nipro Pharma Packaging International NV, Owen Mumford Ltd., PreQ Systems, Retractable Technologies Inc., SARSTEDT AG and Co. KG, Sekisui Chemical Co. Ltd., Terumo Medical Corp., and Thermo Fisher Scientific Inc. among others.

This venous blood collection market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.

What will the Venous Blood Collection Market Size be During the Forecast Period?

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Venous Blood Collection Market: Key Drivers, Trends, and Challenges

The increasing prevalence of chronic conditions is notably driving the venous blood collection market growth, although factors such as lack of trained professionals may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the venous blood collection industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Venous Blood Collection Market Driver

• The increasing prevalence of chronic conditions is one of the key factors fueling the venous blood collection market growth.
• The prevalence of cancer and cardiovascular diseases is increasing across the world. For instance, according to the International Agency for Research on Cancer, in 2020, the age-adjusted rate of new cancer cases was 19.3 million.
• According to the Centers for Disease Control and Prevention (CDC), around nine million adults in the US will be diagnosed with chronic bronchitis in 2020. The CDC also reported that approximately 16 million people in the US were diagnosed with COPD, which was the third-leading cause of death in the country in 2020.
• The prevalence of various types of cancers is increasing. Globally, the number of diagnosed cancer cases is expected to increase from around 16.5 million to 21.3 million between 2017 and 2025. 
• The high incidence of cancer is increasing the demand for cancer screening and diagnoses, which is expected to drive the growth of the global venous blood collection market during the forecast period.

Key Venous Blood Collection Market Trend

• The growing number of strategic developments is one of the key venous blood collection market trends supporting the market growth.
• Most vendors are coming up with new products to sustain the competition in the market.
• In February 2022, The FDA awarded regulatory approval to Roche's Foundation Medicine for an assay that identifies circulatory tumor DNA (CTDNA) in plasma, making it one of the most recent FDA breakthrough designations. The FDA has granted the test breakthrough status for identifying molecular residual disease (MRD) in primary cancer patients after curative treatment.
• In July 2020, Magnolia Medical announced a new Steripath Gen2 Initial Specimen Diversion equipment with an integrated syringe. This equipment allows healthcare practitioners to obtain blood samples from individuals with damaged vasculature with pinpoint accuracy.

Such new developments are expected to support the venous blood collection market growth during the forecast period.

Key Venous Blood Collection Market Challenge

• The lack of trained professionals is one of the key factors impeding the venous blood collection market growth.
• Processes involved in blood testing require accurate interpretation of results, and laboratory technicians must be aware of what analysis to carry out and how to correlate it with the overall objective of the testing. Therefore, the process of blood collection must be performed by highly skilled personnel.
• The adoption of critical experiments is relatively new in the developing countries of Asia, Africa, and South America. Most laboratory technicians have not been trained adequately on the latest technology in laboratory equipment and its benefits.
• There is a shortage of trained professionals who can handle technologically advanced diagnostic devices, which increases the probability of wrong diagnoses. Hence, the shortage of trained professionals will affect the growth of the venous blood collection market during the forecast period.

This venous blood collection market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Venous Blood Collection Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Aptaca Spa
• Becton Dickinson and Co.
• Bio Rad Laboratories Inc.
• Cardinal Health Inc.
• DBO Preanalytical System
• FL MEDICAL srl Unipersonale
• Fresenius Kabi AG
• Greiner Bio One International GmbH
• ICU Medical Inc.
• Jiangsu KANGJIAN Medical Apparatus Co. Ltd.
• Medtronic Plc
• Narang Medical Ltd.
• Nipro Pharma Packaging International NV
• Owen Mumford Ltd.
• PreQ Systems
• Retractable Technologies Inc.
• SARSTEDT AG and Co. KG
• Sekisui Chemical Co. Ltd.
• Terumo Medical Corp.
• Thermo Fisher Scientific Inc.

 

This statistical study of the venous blood collection market encompasses successful business strategies deployed by the key vendors. The venous blood collection market is fragmented and the vendors are deploying growth strategies such as quality, pricing, market reach, and financial resources to compete in the market.

Product Insights and News

• Bd.com - The company offers the BD Vacutainer for venous blood collection, the portfolio includes blood collection tubes, needles, holders, and other devices for collecting blood samples.
• Bio-rad.com - The company offers Hemoglobin Capillary Collection System (HCCS) to collect adult capillary blood, additionally adult venous blood, and others.
• Flmedical.com - The company offers VACUMED blood collection system for venous blood collection.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The venous blood collection market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Venous Blood Collection Market?

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37% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the venous blood collection market in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).

 An increase in the number of road accidents and the rising prevalence of chronic diseases will facilitate the venous blood collection market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 had a positive impact on the regional market growth.  For the treatment of COVID-19 patients who are getting admitted to the ICU, several types of venous blood collection, such as plasma separation tubes, micro-hematocrit tubes, and several others, were used for treatment purposes. Hence, the rise in the venous blood collection by healthcare facilities for treating COVID-19 patients has, in turn, increased their demand significantly. This is expected to drive the growth of the regional venous blood collection market during the forecast period.

What are the Revenue-generating Application Segments in the Venous Blood Collection Market?

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The venous blood collection market share growth by the vein blood gas sampling segment will be significant during the forecast period. The vein blood gas sampling segment is expected to witness significant growth in terms of market revenue when compared to the intraoperative blood salvage segment due to the rising geriatric population, which requires frequent blood gas sampling and Point-of-Care (POC) diagnostic assessment, which is likely to fuel growth in the blood gas sampling segment. Furthermore, the growing number of patients treated in the intensive care units (ICUs) and emergency departments is likely to fuel the growth of the blood gas sampling segment. Thus, it is expected the demand for blood gas sampling will increase and significantly fuel the growth of the global venous blood collection market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the venous blood collection market size and actionable market insights on post COVID-19 impact on each segment.

Parent Market Analysis

Technavio categorizes the global venous blood collection market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the venous blood collection market during the forecast period.

Venous Blood Collection Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the venous blood collection market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Venous Blood Collection Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 7.73%
Market growth 2022-2026	$ 868.11 million
Market structure	Fragmented
YoY growth (%)	5.3
Regional analysis	North America, Asia, Europe, and Rest of World (ROW)
Performing market contribution	North America at 37%
Key consumer countries	US, Canada, Germany, China, and India
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Aptaca Spa, Becton Dickinson and Co., Bio Rad Laboratories Inc., Cardinal Health Inc., DBO Preanalytical System, FL MEDICAL srl Unipersonale, Fresenius Kabi AG, Greiner Bio One International GmbH, ICU Medical Inc., Jiangsu KANGJIAN Medical Apparatus Co. Ltd., Medtronic Plc, Narang Medical Ltd., Nipro Pharma Packaging International NV, Owen Mumford Ltd., PreQ Systems, Retractable Technologies Inc., SARSTEDT AG and Co. KG, Sekisui Chemical Co. Ltd., Terumo Medical Corp., and Thermo Fisher Scientific Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Venous Blood Collection Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive venous blood collection market growth during the next five years
• Precise estimation of the venous blood collection market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the venous blood collection industry across North America, Asia, Europe, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of venous blood collection market vendors

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