Blood collection devices are medical tools used to collect blood samples from patients or donors for diagnostic or therapeutic purposes. Common blood collection devices include needles and syringes, vials, blood bags, blood lancets, and other tools. These devices help clinicians obtain blood samples safely and efficiently for laboratory testing and enable proper storage and transportation of blood for transfusion purposes. Rising burden of chronic diseases such as cancer, diabetes and cardiovascular diseases along with growing demand for donated blood is driving the need for reliable blood collection devices.

The global Blood Collection Devices market size is estimated to be valued at US$ 9,244.72 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period of 2023 to 2030.

Key Takeaways:
Key players operating in the Blood Collection Devices market are Becton Dickinson and Co, Terumo Corp, Cardinal Health Inc, SARSTEDT AG & Co KG, Nipro Corp, Thermo Fisher Scientific Inc, Sekisui Chemical Co Ltd, Greiner Bio-One International GmbH, FL Medical SRL, and IntervacTechnology OU.
The increasing prevalence of chronic and infectious diseases is a major driver of growth for the blood collection devices market. As per statistics, chronic diseases account for over 60% of global deaths and 43% of the global burden of disease. This growing disease burden is increasing demand for laboratory testing which involves collection of blood samples regularly.
Technological advancements are also supporting the market growth. Manufacturers are focusing on developing integrated blood collection systems, needleless collection devices and wearable blood collection devices for ease of use and collection of accurate samples. This is improving efficiency and safety in blood collection processes.

Market Trends:
1. Rising preference for safety-engineered blood collection devices to prevent needlestick injuries: Safety-engineered blood collection devices help prevent needlestick injuries which can expose healthcare workers to infectious diseases. This has increased demand for safety blood collection devices in hospitals and diagnostic centers.
2. Growing adoption of microsampling techniques: Microsampling techniques enable collection of small volume blood samples, as low as few microliters, especially useful for pediatric and geriatric patients and clinical trials. This trend is expected to continue over the forecast period.

Market Opportunities:
1. Emergence of wearable blood collection devices: Wearable blood collection devices offer pain-free and continuous blood collection without using needles. This presents an opportunity for development and commercialization of accurate and reliable wearable blood collection systems.
2. Potential in developing economies: Developing nations in Asia Pacific and Middle East regions are expected to offer lucrative growth opportunities driven by increasing healthcare investments, rising awareness and expanding patient pool.

Impact of COVID-19 on Blood Collection Devices Market growth

The COVID-19 pandemic severely impacted the growth of the blood collection devices market globally in the initial months. Lockdowns imposed worldwide led to the postponement of non-emergency surgical procedures and elective surgeries to focus medical resources on COVID-19 treatment. This reduced the demand for blood collection products. However, the need for blood collection increased significantly to test samples for SARS-CoV-2 infection and facilitate plasma therapy research. Manufacturers faced challenges in terms of procuring raw materials and maintaining workforce safety. Supply chain disruptions hampered production levels. With the resumption of medical services and focus on accelerating vaccination programs post lockdowns, the demand is recovering steadily. Market players are focusing on strengthening production capabilities and distribution networks. In the coming years, advancements in self-collection blood sampling technologies and growing demand for biological sample collection for infectious disease research will support market growth.

Geographical regions with high concentration in Blood Collection Devices market in terms of value

North America dominates the blood collection devices market, accounting for the largest share in terms of revenue. This can be attributed to the increasing prevalence of lifestyle diseases, growing geriatric population susceptible to chronic illnesses, and rising healthcare expenditure in the region. The availability of advanced healthcare facilities, well-established distribution channels of leading manufacturers, and presence of major players further support market growth. Asia Pacific is identified as the fastest growing regional market for blood collection devices. Factors such as the improving healthcare infrastructure, rising medical tourism, increasing healthcare expenditure, and growing prevalence of infectious diseases and cancer are driving regional market growth. China, Japan, and India are the major countries contributing to the high growth rate in Asia Pacific.

Fastest growing region in Blood Collection Devices market

Asia Pacific is expected to grow at the fastest rate in the coming years. Rapid economic development, improving access to healthcare services across rural and urban areas, rising medical tourism, increasing healthcare expenditure, expanding base of private healthcare facilities, and escalating incidence of non-communicable and infectious diseases are some key factors accelerating market growth. Further, growing public awareness and increased government initiatives for mandatory blood donation programs will boost demand. In addition, as international players focus on tapping opportunities in emerging Asia Pacific countries, technology advancements and introduction of new product lines suited for local requirements will contribute to regional market expansion. The presence of a large patient pool and rising disposable incomes also supported product adoption. Development activities are further expected to strengthen across China, India, Japan, and other Association of Southeast Asian Nations (ASEAN).