The Arterial Blood Collection Devices Market is expected to grow at a CAGR of 9.1% during the forecast period and is estimated to reach USD 1,624.6 million by 2023.
The Global Arterial Blood Collection Devices Market report on the basis of end user, the arterial blood collection devices market is segmented into hospitals & clinics, laboratories, blood banks and others. Arterial blood collection devices are used to collect blood samples from the artery which is used of arterial gas sampling.
Some of the key players in this market are Becton, Dickinson and Company (U.S), Bio-Rad Laboratories, Inc. (U.S), NIPRO Medical Corporation (Japan), Qiagen (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), Terumo Medical Corporation (U.S), Thermo Fisher Scientific, Inc. (U.S) and others.
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The most common site for arterial puncture is the radial artery at the wrist. Other sites for arterial puncture include brachial artery, femoral artery, and dorsalis pedis artery. Femoral and radial artery puncture is commonly performed to obtain arterial blood sampling for gas analysis. In arterial blood sampling, devices for arterial blood collection help to measure the gas exchange, and oxygenation in the blood. Rising incidence of chronic diseases such as diabetes, asthma, kidney diseases, etc. and availability of a wide range of products for blood collection storage have driven the growth of the global arterial blood collection devices market. Furthermore, rising demand of safe blood collection devices, and increasing awareness about transfusion transmissible infection favor the growth of the market.
Regional Analysis of the Global Arterial Blood Collection Devices Market
Considering the global scenario of the market, the Americas accounted for a significant market share in 2016, as a result of increasing prevalence of chronic diseases, growing emphasis on safe blood transfusion procedure, concentration of major market players manufacturing blood collection devices, and extensive demand for diagnostic services.
Europe is the second largest market and holds a noticeable share in the global arterial blood collection devices market. The European market is expected to grow significantly during the forecast period owing to availability of advanced treatment facilities, skilled medical professionals, and adoption of new therapies. Availability of funds from the government for research and development also contributes to the growth of the market. According to the European parliament, various initiative have been undertaken for collection, storage, and processing of blood.
Huge demand for diagnostic services in Asia Pacific region is the key factor for the market growth. Rising awareness about the use of sterile blood collection devices and rising number of surgical procedures drive the market in Asia Pacific region. In Asia Pacific, the market shows growth opportunities in China and India. China is expected to be the fastest growing market with the CAGR of 11.6% during the forecasted period.
The Middle East & Africa is expected to show steady growth in this market due to increasing prevalence of transfusion transmissible infections and demand for medical devices for diagnostics. Government has undertaken awareness programs for safe blood transfusion procedures which is further improving the health conditions in under developed regions of Africa.
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Major TOC for Arterial Blood Collection Devices Market:
1 Report Prologue
2.1 Scope Of Study
2.2 Research Objective
2.3 Assumptions & Limitations
2.4 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.3.1 Market Share Analysis
3.4 Market Pricing Approach
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