Capillary Blood Collection Devices, the equipment used to collect the blood samplings for diagnosis and test purposes are integral to obtain high-quality clinical results. These devices are vastly preferred among clinicians and patients due to its simple and painless blood collection technique.
Growing prevalence of chronic diseases and disorders such as vascular, diabetes, and heart diseases drive the market growth, increasing the demand for diagnosis and the uptake of these devices. Resultantly, the global capillary blood collection devices market is garnering huge traction, growing pervasively.
Acknowledging the impressive growth records, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global Capillary Blood Collection Devices market will register a staggering CAGR of 10% from 2017-2023, witnessing the accruals of approx. 778.38 Mn. USD by 2023.
Undoubtedly, technological advancements transpired in the field of medical devices as a foray to bring more innovations in these devices are boosting the market growth, escalating the market to the exceeding heights.
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Conversely, high prices of these devices is a predominant factor impeding the market growth. Also, the risk associated with the blood collection techniques and contaminations are hampering the market growth of the capillary blood collection devices market. Nevertheless, recent betterments taken place in these devices as a result of forays of the market players are increasing the demand for these devices by the physicians and patients, contributing to the market growth to a great extent, in turn.
The global market appears to be highly competitive and diversified with the presence of giant manufacturers of the devices, playing on the global level. These players are heavily investing in R&D, global expansion, advanced technologies and product Launch to gain the competitive edge in the market.
Capillary Blood Collection Devices Market – Regional Analysis:
North America Capillary Blood Collection Devices market backed by the presence of well-established players & investments, accounts for the leading market, globally, holding the largest market share. Companies involved in the manufacturing of these devices are well capable of delivering a range of customized solutions. Furthermore, augmented uptake of software solutions for healthcare administration and availability of complimenting resources drive the market growth in the region.
Factors substantiating the market growth include growing number of patients suffering from chronic diseases & disorders that consecutively augments the demand for diagnosis, increasing demand for technologically advanced diagnosis and treatment, rising government support and high per capita health care expenditures in the region. The market value is estimated to settle at US$ 292.96 Mn. by 2023.
The Europe market stands the second largest market for capillary blood collection devices, globally, owing to the technological advancement and the augmented adoption of these devices among the healthcare providers mainly in the UK, Germany, and France coupled with the resurging economy in the region which is improving the consumers’ quality of life by increasing their purchasing power.
The market is expected to demonstrate a healthy growth during the forecast period owing to the factors such as public & private funding for R&D, the presence of leading market players and increasing prevalence of diabetes, in the region.
Additional factors such as the availability of advent & advanced treatment facilities & healthcare expenditures along with the growing demand for better healthcare infrastructure are fuelling the market growth in the region. Also, factors such as the ever increasing population that is increasingly adopting the sedentary lifestyle are driving the growth of the Europe market.
The Asia Pacific market stands the third position emerging as one of the promising markets for Capillary Blood Collection Devices. Factors such as, availability of new diagnosis and treatment methods, increasing prevalence of chronic diseases like diabetes and the growing population that is increasingly gaining awareness towards the benefits of health management, foster the market growth in the region. The APAC market is estimated to grow at 10.6% CAGR during 2017–2023.
The Middle East & Africa region, on the other hand, is expected to experience a plateau phase in the growth primarily due to the African market where lack of awareness, limited access and availability of treatment facilities are some of the factors responsible for the restricted growth. While the Middle East region is expected to a steady growth owing to the well-developed healthcare sector that is increasingly availing specialty care centers. UAE among other MEA countries draws the largest market share in the region.
Capillary Blood Collection Devices Market – Segmentation:
The MRFR analysis is segmented into four key dynamics for the convenience of the report and enhanced understanding;
By Material: Comprises Glass, Plastic, and Stainless Steel, among others.
By Types of Devices: Warming Devices, Blood Collecting Tubes & Collector, and Lancets, among others.
By End-Users: Hospitals, Clinics, Diagnostic Centers, Home Diagnostics, and Pathology Laboratories, among others.
By Regions: North America, Europe, APAC and Rest-of-the-World.
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