Blood collection devices are medical products used for collecting blood samples from the body for diagnostic purposes or blood donation purposes. Some common types of blood collection devices include needles, blood bags, blood collection tubes, and lancets. These devices find widespread applications during diagnosis of chronic diseases like cancer, diabetes, cardiovascular diseases as well as infectious diseases. Growing prevalence of such diseases across the globe has significantly increased demand for blood collection for diagnostic testing purposes. Furthermore, rising number of blood donations and growing awareness regarding voluntary blood donations is also fueling market growth.

The Global Blood Collection Devices Market 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 2023 to 2030.

Key Takeaways
Key players operating in the Blood Collection Devices are  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. These players are focusing on new product launches, expansion of manufacturing facilities and partnerships & collaborations to strengthen their market position.

The rising prevalence of infectious and chronic diseases is generating significant demand for diagnostic tests which is creating lucrative opportunities for blood collection devices market players. Additionally, growing number of blood donation camps organized by governments and NGOs is also boosting the demand.

The key players in the market are focusing on expanding their presence in emerging markets of Asia Pacific, Latin America, and Middle East & Africa to tap the high growth opportunities offered by these regions. Favorable government policies supporting healthcare infrastructure development along with rising medical expenditures are supporting market growth in these regions.

Market Drivers
- Rising prevalence of chronic and infectious diseases requiring diagnostic blood tests is a major growth driver
- Increasing number of blood donation camps and growing awareness about voluntary blood donations are also fueling market growth

Market Restraints
- Stringent regulatory framework and time-consuming approval process hinder new product launches
- Healthcare cost containment efforts by various governments limit market growth to some extent

Segment Analysis
The blood collection devices market can be segmented by product type and end user. By product type, the needles and syringes segment dominates the market owing to its high demand. Needles and syringes are essential for drawing as well as injecting fluids from and into the body veins. Within this segment, safety needles and syringes are experiencing high growth as they reduce the risk of needlestick injuries to both patients and healthcare workers.

By end user, the diagnostic centers segment accounts for a significant share of the blood collection devices market. Diagnostic centers utilize blood collection devices on a large scale for diagnostic purposes such as blood chemistries, blood counts, disease screening, and other tests. This segment is growing owing to the increasing number of diagnostic tests performed each year for the diagnosis and management of various acute and chronic diseases.

Global Analysis
Regionally, North America holds the largest share of the global blood collection devices market owing to the increasing prevalence of lifestyle diseases, rising number of surgical procedures performed, growing diagnosis rates, and advanced healthcare infrastructure in the region. However, Asia Pacific is showing the fastest growth due to improving access to healthcare, rising healthcare expenditure, increasing demand for safer blood collection methods, growing patient population, and expansion of private-sector hospitals and clinics in emerging countries such as India and China.