Capillary Blood Collection Devices Market

Capillary Blood Collection Devices Market Outlook (2022-2027)

Expanding at a CAGR of 6%, the global capillary blood collection devices market is expected to increase from a valuation of US$ 1.8 billion in 2022 to US$ 2.4 billion by the end of 2027.

Sales of plastic capillary blood collection devices are predicted to accelerate at a higher CAGR of 6.2% due to their widespread utilization, ease of use & disposal, and affordability.

Report Attributes	Details
Capillary Blood Collection Devices Market Size (2022)	US$ 1.8 Billion
Projected Market Value (2027)	US$ 2.4 Billion
Global Market Growth Rate (2022-2027)	6% CAGR
Market Share of Plastic Capillary Blood Collection Devices	40%
Share in Blood Collection Devices Market (2022)	20%
Key Companies Profiled	Abbott Laboratories Improve Medical Cardinal Health Medtronic PLC Novo Nordisk AS Owen Mumford Ltd. SARSTEDT AG & Co. KG Terumo Corporation B. Braun Melsungen AG Becton Dickinson and Company Chengdu Rich Science Industry Co. Ltd. Danaher Corporation

Revenue Analysis of Capillary Blood Collection Devices (2017-2021) Vs. Market Estimations (2022-2027)

“Constant Innovations in Automated Hematology Analyzers Driving Market Growth”

According to Fact.MR, a market research and competitive intelligence provider, demand for capillary blood collection devices is projected to increase at a CAGR of 6% from 2022 to 2027.

Capillary blood collection is being used more often all over the world to help with patient diagnosis, therapy, and management. Point-of-care testing's expanding accessibility has increased the demand for cutting-edge medical equipment, particularly capillary blood collection systems.

Moreover, because it minimizes discomfort, the capillary blood sampling technique is widely employed to gather tiny blood volumes for laboratory testing. This process can also affect the sample's quality and the accuracy of the test results, which is another element influencing market growth.

The rising prevalence of chronic diseases among the growing population and the rising demand for minimally-invasive procedures are the key factors propelling market growth. Market expansion is accelerated by the constant innovations in automated hematology analyzers and rising demand for blood collection tubes for liquid biopsy.

Which Market Determinants are Inducing Demand for Capillary Blood Collection Devices?

“Rapid Acceptance of PoC Diagnostics Driving Demand for Capillary Blood Collection Devices”

The field of point-of-care diagnostics has experienced great expansion recently due to the development of technologies and various supplementary research methods. Advanced molecular diagnostics have allowed for quicker diagnosis at more affordable and convenient prices.

Capillary blood collection equipment supports PoC diagnostics for quick hematological assays. Capillary blood collection systems are less intrusive and less expensive than arterial blood sampling systems.

In ambulatory and remote healthcare settings, this technology has evolved into the go-to testing method when combined with PoC diagnostics. The most prevalent dietary deficit in adult women is anemia. They are employed for a variety of hematological tests in both children and adults because of their advantages. Therefore, it is predicted that the use of capillary blood collection devices would rise over the coming years along with the rapid acceptance of PoC diagnostics.

“Rising Need for Enhanced Blood Collection & Sample Equipment in Laboratories”

The widespread testing of infants for certain dangerous or potentially deadly illnesses has given rise to neonatal genetic screening tests. Early detection enables treatment, which manages to avoid chronic illnesses or serious health issues. Due to its quick identification and treatment, the capillary blood collection procedure helps prevent or lessen several life-threatening health issues, serious lifelong disabilities, and mental retardation, which is a significant factor supporting market growth.

The market for capillary blood collection devices is anticipated to be driven by an increase in the demand for enhanced blood collection and sample equipment in laboratories. Recent innovations in technology are elevating the standard of care without necessitating a significant investment in training programs. As a result, this element serves as the main driver for capillary blood collection devices. Recent FDA approvals for blood collection devices, including tubes, vial systems, and serum separators are fostering market expansion.

What Could Possibly Hinder Demand Growth for Capillary Blood Collection Systems?

“High Cost & Availability of Substitutes Hindering Market Expansion”

One of the main issues impeding market revenue to some extent is the risk of contamination owing to the capillary blood assortment approach leading to patient transfer of serious infectious diseases.

Sometimes, capillary blood samples might show unreliable results, such as erroneously high blood cell counts, electrolyte levels, and blood sugar levels. As a result, these factors lead to physicians using various alternative ways of blood draw to increase diagnosis and accuracy, which restrains market expansion. Another factor that is anticipated to limit the overall market growth during the projected period is the high cost of capillary blood collection equipment.

How Can Start-ups Carve a Space for Themselves in This Industry?

“New Entrants Investing in Research to Create Efficient Devices for Finest Diagnostic Experience”

New companies are investing more in research to create devices that allow pharmaceutical firms to provide an engaging, efficient, and decentralized blood collection option that enables quicker and easier clinical trials.

Leading medical institutions and government healthcare facilities favor using these instruments to provide patients with the finest possible diagnostic experience.

• Babson Diagnostics, a start-up based in the U.S. strives to improve the health of customers by making diagnostic blood testing more practical and approachable. The CLIA-certified clinical laboratory uses this patented technology to examine tiny capillary samples obtained at accessible retail locations and generate precise diagnostic results.

What Makes North America a Leading Regional Market for Capillary Blood Collection Devices?

“Presence of Major Clinical Diagnostic Companies in North America”

North America accounts for the highest share of the capillary blood collection devices market. The market is growing as a result of the well-developed healthcare infrastructure, presence of major clinical diagnostic companies, expanding use of innovative technologies, and greater emphasis on clinical research.

Rapid integration of automated blood collection techniques, growing surgical operations, rising accident and trauma cases, and the growing prevalence of infectious and non-communicable diseases are driving market value in the region.

Country-wise Insights

Why is the U.S. Market Expected to Be Highly Lucrative?

“Government Activities for Development of PoC Testing Devices”

The market in the U.S. is expanding significantly as a result of rising health concerns, improved healthcare systems, and government activities for the development of PoC testing devices.

Rising investments in the healthcare industry, favorable reimbursement policies, and growing public awareness about the benefits of blood testing devices are all factors contributing to market expansion.

The presence of top capillary blood collection device manufacturers, the rising demand for rapid test cassette devices, and the rising incidence of diabetes mellitus are fostering market expansion in the United States.

How is the Market for Capillary Blood Collection Devices Progressing in China?

“Rising Demand for Accurate & Speedy Detection of Chronic Diseases”

The capillary blood collection devices market in China is expected to increase at a CAGR of 9% from 2022 to 2027.

Some of the key drivers driving market expansion include the increasing geriatric population, increased investments by various multinational businesses in the healthcare infrastructure, and rising demand for accurate and speedy detection of chronic diseases.

Market expansion is driven by the growing usage of wearable capillary blood collection devices, an increase in government initiatives for medical research, and a large network of hospitals & other associated institutions.

Category-wise Insights

Why are Plastic Capillary Blood Collection Devices High in Demand?

“Growing Usage of Plastic Capillary Blood Collection Devices in Healthcare Industry”

Based on material, the capillary blood collection devices market is classified into plastic, glass, stainless steel, ceramic, and others. Plastic capillary blood collection devices account for 40% share of the global market because they are affordable, light, and adaptable to the human body.

Plastic devices are widely utilized in the healthcare industry due to their adaptability, robustness, safety, chemical resistance, transparency, and clarity and they are comfortable to use for treatment and disposal.

Which Product is Forecast to Gain the Highest Market Share?

“Rising Adoption of Lancets in Blood Collection Techniques”

The capillary blood collection devices market is segmented into warming devices, micro-container tubes, micro-hematocrit tubes, lancets, and others, based on product.

Lancets have a little scalpel that is used to pierce the skin and draw blood. The growing usage of lancets in blood collection techniques and the growing prevalence of infectious diseases are the factors boosting demand for lancets. Reusable lancets are used in home care settings for regular hemoglobin and glucose testing in diabetic and anemic patients.

Which End User is Predicted to Generate High Revenue for Market Players?

“High Availability of Advanced Blood Collection Equipment in Hospitals & Clinics”

By end user, the capillary blood collection devices market is divided into home diagnosis, blood donation centers, diagnostic centers, hospitals & clinics, and pathology laboratories.

Hospitals and clinics are dominating the capillary blood collection devices market because they conduct several diagnostic tests. Blood transfusion diagnostics are now much more common in hospitals due to a rise in surgical operations as well as an increase in trauma cases.

Rise in the prevalence of infectious diseases and the number of trauma cases, together with C-sections and organ transplants, have ensured the demand for advanced blood collection equipment in hospital facilities, which has contributed to the segment expansion.

Blood samples taken in capillary blood collection tubes are frequently checked at hospital laboratories and the results are updated with patient information, making it simple and convenient to send patients to medical specialists.

Competitive Landscape

Key companies in the capillary blood collection devices market are creating new products and technologies to fulfil the rapidly increasing market demand and expand their commercial presence around the world.

Top capillary blood collection device providers have implemented several tactics, such as product announcements, innovation, partnerships, and expansions, to keep their top positions in the healthcare industry.

For instance :

• Retail pharmacies can now obtain lab-quality, small-volume blood samples thanks to a partnership between Babson Diagnostics, a game-changing diagnostic blood testing startup, and Becton, Dickinson & Company, in 2020.

Capillary Blood Collection Devices Industry Research Segments

• By Product :

  • Lancets
  • Micro-container Tubes
  • Micro-hematocrit Tubes
  • Warming Devices
  • Others

• By Material :

  • Plastic
  • Glass
  • Stainless Steel
  • Ceramic
  • Others

• By Application :

  • Whole Blood
  • Comprehensive Metabolic Panel (CMP) Tests
  • Liver Panel / Liver Profile / Liver Function Tests
  • Plasma / Serum Protein Tests
  • Dried Blood Spot Tests

• By End User :

  • Hospitals & Clinics
  • Blood Donation Centers
  • Diagnostic Centers
  • Home Diagnosis
  • Pathology Laboratories

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa