Blood Collection Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 7.80 Billion |
| Market Size (2029) | USD 10.40 Billion |
| CAGR (2024 - 2029) | 5.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Blood Collection Market Analysis
The Blood Collection Market size is estimated at USD 7.80 billion in 2024, and is expected to reach USD 10.40 billion by 2029, growing at a CAGR of 5.80% during the forecast period (2024-2029).
The major factors driving market growth include the rising demand for early diagnosis of chronic conditions, increasing incidence of trauma and accidents, and a surge in the number of surgical procedures carried out worldwide. The volume of knee and hip replacement surgeries has increased worldwide in recent years, and this is expected to drive the demand in the blood collection market.
The growing sports or accidental injuries lead to blood loss, and this necessitates blood transfusion to replace the loss of blood and maintain adequate circulation, which is expected to boost market growth. For instance, according to the German Federal Statistics Office data published in May 2023, roughly 21,600 people were injured in road traffic accidents in Germany in February 2023. The number increased by approximately 900, or 5%, compared with the same month of the previous year. Thus, the increasing number of road accidents is expected to increase the demand for blood transfusion to recover the blood loss in the patient, propelling market growth over the forecast period.
Additionally, blood collection also witnessed a great demand due to an increased number of patients suffering from various diseases related to blood, kidney, metabolic diseases, and neurological disorders. For instance, according to 2024 data published by the American Cancer Society, 62.7 thousand leukemia cases have been reported in 2024 in the United States, an increase from 59.6 thousand cases in 2023, thus increasing the burden of blood cancers such as leukemia, which impact the production of blood and require frequent blood transfusions. This, in turn, is expected to increase demand for blood collection bags, thereby boosting the growth of the blood collection market.
Furthermore, the growing fundraising strategies of the key players are expected to drive market growth over the forecast period. For instance, in May 2024, Vitestro raised EUR 20 million (USD 21.47 million) to accelerate the commercialization of its autonomous blood sampling device. With this fund, Vitestro will expand its team and develop additional features for the blood sampling device.
Moreover, the rising product launches by the key players are expected to fuel the availability of blood collection products in the market. For instance, in February 2022, Abacus dx launched the newest addition to Streck's trusted blood collection tube portfolio, RNA Complete BCT. The rise in blood donation and transfusion requires blood collection kits and bags, which are expected to drive market growth over the forecast period.
Similarly, in October 2022, Q² Solutions, a global clinical trial laboratory services organization and a wholly owned subsidiary of IQVIA, launched its first self-collection safety lab panel for clinical trial participants in the United States, a significant achievement for a leading global clinical trial laboratory.
Thus, the growing burden of accidental injuries and blood disorders is expected to increase demand for blood collection products, thereby boosting market growth. However, blood contamination and other complications and injuries caused during blood collection are expected to restrain market growth over the forecast period.
Blood Collection Market Trends
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.
Blood Collection Industry Overview
The blood collection market is a highly competitive space, with several significant players competing for market share. Market players are adopting several strategies, such as the introduction of advanced products and fundraising initiatives, to expand their product offerings in the market and retain their market position. Some of the key players in the market are Becton, Dickinson and Company, Cardinal Health, Greiner Group AG (Greiner Bio-One International GmbH), Haemonetics Corporation, McKesson Corporation, Medline Industries Inc., and Qiagen.
Blood Collection Market Leaders
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Cardinal Health
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Becton Dickinson and Company
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Medline Industries, Inc.
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Greiner Group AG (Greiner Bio One International GmbH)
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Haemonetics Corporation
*Disclaimer: Major Players sorted in no particular order
Blood Collection Market News
- April 2024: Streck introduced Protein Plus BCT, a direct draw whole blood collection tube designed to stabilize plasma protein concentrations during storage at ambient temperatures. The Protein Plus BCT is intended for research purposes only and should not be used for diagnostic procedures.
- November 2023: Becton, Dickinson and Company introduced an innovative needle-free blood draw technology specifically designed to work seamlessly with integrated catheters. The PIVO Pro Needle-free Blood Collection Device received the coveted 510(k) clearance from the US Food and Drug Administration. Notably, the device is the first of its kind, offering exclusive compatibility with integrated and extended peripheral IV catheters.
Blood Collection Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumption and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Demand for Early Diagnosis of Chronic Conditions
- 4.2.2 Increasing Incidence of Trauma and Accidents
- 4.2.3 Surge in the Number of Surgical Procedures Carried Out Worldwide
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4.3 Market Restraints
- 4.3.1 Blood Contaminations and Other Complications
- 4.3.2 Injury Caused During Blood Collection
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Product
- 5.1.1 Needles and Syringes
- 5.1.2 Tubes
- 5.1.3 Lancets
- 5.1.4 Blood Bags
- 5.1.5 Other Products
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5.2 By Application
- 5.2.1 Diagnostics
- 5.2.2 Treatment
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5.3 By End User
- 5.3.1 Hospitals and Diagnostic Centers
- 5.3.2 Blood Banks
- 5.3.3 Other End Users
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5.4 By Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Becton, Dickinson and Company
- 6.1.2 Cardinal Health
- 6.1.3 Terumo Corporation
- 6.1.4 Fresenius Kabi AG
- 6.1.5 Haemonetics Corporation
- 6.1.6 Sol-Millennium
- 6.1.7 McKesson Corporation
- 6.1.8 Medline Industries Inc.
- 6.1.9 Greiner Group AG (Greiner Bio One International GmbH)
- 6.1.10 Qiagen
- 6.1.11 Grifols SA
- 6.1.12 ICU Medical (Smiths Medical)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityBlood Collection Industry Segmentation
As per the scope of the report, blood specimen collection is a routine procedure performed to obtain blood for various laboratory tests. Blood can be collected from venous access devices and occasionally by fingerstick. However, it is most frequently obtained via a peripheral vein puncture called venipuncture.
The blood collection market is segmented by product, application, end user, and geography. By product, the market is segmented as needles and syringes, tubes, lancets, blood bags, and other products. By application, the market is segmented as diagnostics and treatment. By end user, the market is segmented as hospitals and diagnostic centers, blood banks, and other end users. By geography, the market is segmented as North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the market size and forecasts in value (USD) for the above segments.
| By Product | Needles and Syringes | |
| Tubes | ||
| Lancets | ||
| Blood Bags | ||
| Other Products | ||
| By Application | Diagnostics | |
| Treatment | ||
| By End User | Hospitals and Diagnostic Centers | |
| Blood Banks | ||
| Other End Users | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Blood Collection Market Research FAQs
How big is the Blood Collection Market?
The Blood Collection Market size is expected to reach USD 7.80 billion in 2024 and grow at a CAGR of 5.80% to reach USD 10.40 billion by 2029.
What is the current Blood Collection Market size?
In 2024, the Blood Collection Market size is expected to reach USD 7.80 billion.
Who are the key players in Blood Collection Market?
Cardinal Health, Becton Dickinson and Company, Medline Industries, Inc., Greiner Group AG (Greiner Bio One International GmbH) and Haemonetics Corporation are the major companies operating in the Blood Collection Market.
Which is the fastest growing region in Blood Collection Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Blood Collection Market?
In 2024, the North America accounts for the largest market share in Blood Collection Market.
What years does this Blood Collection Market cover, and what was the market size in 2023?
In 2023, the Blood Collection Market size was estimated at USD 7.35 billion. The report covers the Blood Collection Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Blood Collection Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Blood Collection Industry Report
Statistics for the 2023 Blood Collection market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Blood Collection analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
