MarketersMEDIA / Newsroom / Capillary Blood Collection Devices Market to Grow at a Superior CAGR of 10.0% till 2023 | by MRFR

Capillary Blood Collection Devices Market to Grow at a Superior CAGR of 10.0% till 2023 | by MRFR

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Complete Study of Capillary Blood Collection Devices Market Research Report is added on with Latest Advancement. Detail analysis on possible segments and sub segments of the Capillary Blood Collection Devices Market.

— Blood collection for diagnostic sampling is unavoidable and plays a crucial role in diagnostics and treatment. Capillary blood collection is one of the most minimally invasive methods to draw blood for medical purposes. Favorable government regulations have been an important driver for market growth. Changing regulations, ongoing research & development of medical technology, rising occurrence of diseases and an increasing global geriatric population are expected to fuel significant market growth during the forecast period.

Market Research Future's latest research report discloses an impressive CAGR of 10% during the forecast period of 2017 to 2023. MRFR thoroughly examines the global capillary blood collection devices market in its report and has estimated evaluation of USD 778.38 million by 2023.

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A major challenge for this market includes the risk of blood contamination or infection. However, due to capillary blood collection being the most preferred method of blood collection by both patients and medical professionals, this challenge is unlikely to restrain market growth.

Top Players

Key players in the global capillary blood collection devices market which have been featured in MRFR's competitive analysis include Weihai Hongyu Medical Devices, Abbot Laboratories, F. Hoffmann-La Roche AG, Danaher Corporation, Becton Dickinson, Novo Nordisk A S, Medtronic PLC, B. Braun Melsungen AG, Thermo Fisher Scentific Inc., Terumo Corporation, Ypsomed Holding AG, HTL-STREFA S.A., Owen Mumford Ltd., Sarstedt AG & Co, Greiner Bio-One, Improve Medical, Chengdu Rich Science Industry Co. Ltd., Weigao Group, Nipro, Medigard and others.

Market Segmentation

The Global Capillary Blood Collection Devices Market has been segmented by material, type of devices, end-user, and region.

By material, the market has been segmented into plastic, glass, stainless steel and others. The plastic segment is expected to possess the largest segment with a market share of 42.3% and a significant CAGR of 10.4% during the forecast period 2017-2023.

By type of device, the market has been segmented into blood collecting tubes & collector, lancets, and warming devices.

By end-user, the market is segmented into hospitals, clinics, diagnostic centers & pathology laboratories, home diagnostics and others. Blood collecting tubes & collector as a segment is expected to grow to a market share of 48.4% due to their common use on a global scale. However, lancets are the fastest growing segment at a CAGR of 10.4% during the forecast period 2017-2023. The growth of the lancet segment is due to the minimum invasiveness of blood collection devices that use lancets.

By region, the market has been segmented into the Americas, Europe, the Asia-Pacific and the Middle East & Africa.

Regional Analysis

The Americas possess the largest share of the global market with 37.4% in 2016. This is primarily attributable to the availability of a well-developed healthcare sector, increased healthcare spending and growing demand for appropriate diagnostic tests. In-vitro diagnostics such as capillary blood collection allows patients in the region to monitor diseases. Both infection and non-infectious diseases can be effectively monitored using these devices. The increasing occurrence of these diseases has driven the demand for advanced diagnostic techniques. MRFR's data experts predict the market to reach an evaluation of approximately USD 292.96 million by 2023.

Europe has the second largest share of the global market and is expected to maintain a steady yet significant growth during the forecast period. Government encouragement, increasing research & development by market leaders present in the region, and an increased occurrence of lifestyle diseases that require consistent monitoring such as diabetes are expected to drive growth in this region.

The Asia-Pacific is predicted to be the fastest growing region in the global capillary blood collection devices market. Emerging economies in this region have massive patient populations with an increased incidence of diabetes. There is also a strong demand for minimally invasive capillary blood collection devices which makes this region high promising.

Meanwhile, the Middle East and Africa, due to the region's inclusion of impoverished African countries, market growth is expected to be limited. Growth that will occur in this region is likely to come from the Middle East due to the prevalence of lifestyle diseases and a growing healthcare sector.

Latest Industry News

The Gibralter Health Authority has donated a new sophisticated Point of Care analyzer to the Accident and Emergency Department (A&E). The donation will allow easy and convenient capillary blood collection from pediatric patients. The new machine allows the test to be carried out and make results available in 3 minutes.

The Central Drugs Standard Control Organization has clarified that the new ISO requirements for capillary blood samples for glucose concentration measurement will be implemented by October of 2019.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Source: MarketersMedia

Release ID: 515596

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