Market Trends of Blood Collection Industry
Needles and Syringes are Expected to Hold a Significant Market Share Over the Forecast Period
Blood collection needles and syringes are poised to experience significant growth in the market due to a surge in surgical procedures, an increase in injury cases, and the launch of new products. Additionally, the prevalence of various infectious diseases has resulted in a rise in the demand for blood specimen collection and diagnosis, thereby boosting the demand for needles and syringes for blood collection.
The rise in surgical cases necessitates the use of various syringes and needles during the procedure. For instance, according to 2024 data published by Statistics Austria, about 32.4% of the 76,939 live births in Austria in 2023 were delivered by cesarean section. Styria had the highest rate of cesarean sections at 36.8%, followed by Burgenland at 34.5%. In addition to the above context, Vorarlberg had the lowest cesarean section rate at 29.2%, followed by Upper Austria at 29.3% in 2023. Over the last three decades, the proportion of these surgical interventions has doubled. Since cesarean sections in hospitals require various types of needles for collecting cord blood from the umbilical cord, hospitals are likely to utilize needles and syringes, propelling the segment growth.
Moreover, advancements in blood collection needles and their launches are expected to increase the availability of these advanced products in the market, which is likely to contribute to the segment's growth. For instance, in May 2022, Dutch medical robotics company Vitestro unveiled an advanced autonomous blood-drawing device. The venipuncture device empowers patients to be self-efficacious during blood collection procedures.
As a result, due to the increase in surgical procedures and the rise in product launches, coupled with advancements, the segment is anticipated to witness growth over the forecast period.
North America Anticipated to Hold a Significant Market Share Over the Forecast Period
North America is anticipated to hold a significant market share of the market studied over the forecast period, primarily due to several factors, including the rising demand for blood collection products, increased injuries, and a growing prevalence of chronic diseases requiring regular blood sample collection. The market’s growth is expected to be further fueled by the surge in diabetes prevalence and the corresponding rise in healthcare spending.
For instance, data published by the International Diabetes Federation in 2022 reported that about 36 million people in the United States were expected to suffer from diabetes by 2045. Similarly, according to the Diabetes Canada 2023 report, approximately 58.8 million people in Canada were expected to be diagnosed with diabetes, and this number is anticipated to reach 74.7 million by 2032. The routine blood drawing required for monitoring blood sugar levels in diabetic patients is expected to drive market growth.
Furthermore, the increase in surgical procedures, which typically require blood transfusion, is anticipated to drive market growth over the forecast period. For example, according to the 2023 published data from Statistics Canada, approximately 110,659 c-sections were performed in 2023 in Canada.
Moreover, the implementation of various strategies by key market players in the region is anticipated to contribute to market growth. For instance, in December 2023, Becton, Dickinson and Company (BD) secured 510(k) clearances from the US Food and Drug Administration for its innovative blood collection device. The device allows for fingerstick blood samples, delivering high-quality results for frequently requested blood tests. Similarly, in February 2022, BD (Becton, Dickinson and Company) released UltraSafe Plus 2.25 ml, a new needle-guard solution that enhances the delivery of drugs and other biologic solutions.
Therefore, the growth of the North American blood collection market is anticipated to be driven by an increase in surgical procedures and the prevalence of chronic diseases, such as diabetes, along with the implementation of various strategies by key market players in the region.
