Arterial Blood Collection Devices Market Scenario
Market Research Future (MRFR) speculates that the global arterial blood collection devices market is anticipated to garner USD 1,624.6 million, grabbing a CAGR of 9.1% throughout the forecast period (2018-2023). Augmenting incidences of chronic diseases like asthma, diabetes, etc. are highly favoring the market growth. Arterial blood collection devices are generally used to collect blood samples from the artery which is later used in the sampling of arterial gas. Radial artery at the wrist is considered as one of the most common sites for arterial puncture. Brachial artery, dorsalis pedis artery, and femoral artery are some of the other arterial puncture sites. Arterial blood collection devices aid in measuring the oxygenation in the blood and exchange of gas.
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Arterial Blood Collection Devices Market Potential and Pitfalls
With the augmenting prevalence of chronic diseases like asthma, diabetes, kidney diseases, and others, and high availability of some products for blood collection storage, the global market for arterial blood collection devices is estimated to flourish. The accelerating awareness regarding transfusion transmissible infection (TTI) and increasing demand for safe blood collection devices are further triggering the arterial blood collection devices market throughout the estimated period. The market is also driven by the high availability of advanced blood collection products. Additional factors promoting the market growth are the technological advancements in the arterial blood collection devices coupled with the growing number of surgical procedures. It has also been noticed that there has been a tremendous rise in the number of non-communicable and infectious diseases in the past few years owing to borderline poverty in the developing economies, rapid urbanization, incidences of food-borne diseases, and antimicrobial resistance. Such factors are stimulating the market growth to a great extent.
In contrast, the growth of the market can experience a slowdown in the coming years owing to the risk of transfusion-transmissible infection, inclination towards robotic surgery, and complications associated with arterial blood sampling. Additional risks such as the high possibility of needlestick injuries through syringes are estimated to impede the market growth over the estimated period.
Global Arterial Blood Collection Devices Market: Segmental Analysis
The global arterial blood collection devices market has been segmented on the basis of type, application, and end-user.
By mode of type, the global arterial blood collection devices market has been segmented into lancet, blood collection tubes, vacuum blood collection system, needles, microfluidic system, and other devices. Among these, the blood collection tubes occupied the largest market share in the year 2016 and were valued at USD 359.4 million.
By mode of application, the global arterial blood collection devices market has been segmented into intraoperative blood salvage and arterial blood gas sampling. Among these, the arterial blood gas sampling segment occupied the largest market share and was valued at USD 25.6 million in 2016.
By mode of end-users, the global arterial blood collection devices market has been segmented into laboratories, hospitals & clinics, blood banks, and others.
Arterial Blood Collection Devices Market Regional Insights
Geographically, the global arterial blood collection devices market spans across regions namely, America, Asia Pacific, Europe, and the Middle East & Africa.
Among these, the America region is considered to occupy a significant market share owing to the augmenting incidences of chronic diseases, a high concentration of major market giants manufacturing blood collection devices, rising emphasis on the procedure of safe blood transfusion, and accelerating demand for diagnostic services in this region.
The European region is presumed to occupy the second largest market share with a noticeable share in. The market in this region is likely to expand at a significant rate due to the high availability of advanced treatment facilities, increasing the adoption of new therapies, and skilled medical professionals. Additional factors influencing the market growth are the increasing availability of funds from the government sector for R&D activities.
The Asia Pacific is predicted to experience a significant growth rate and is likely to retain its dominance in the coming years. Extensive demand for diagnostic services is fueling the market growth in this region. With augmenting awareness regarding the use of sterile blood collection devices coupled with the accelerating number of surgical procedures, the market in this region is expected to experience an upthrust.
Arterial Blood Collection Devices Industry Updates
In March 2018, Seventh Sense Biosystems Inc., a company who develops and manufactures blood collection devices had announced their achievement of CE mark for its TAP. It is a one-step blood collection device. The device comprises tiny microneedles which are used to collect the blood without any pain. It makes blood collection easy, quick, and convenient.
Arterial Blood Collection Devices Market Competitive Dashboard
The key players operating the global arterial blood collection devices market are F. Hoffmann-La Roche Ltd (Switzerland), Becton, Qiagen (Netherlands), NIPRO Medical Corporation (Japan), Dickinson and Company (U.S), Terumo Medical Corporation (U.S), Bio-Rad Laboratories Inc. (U.S), Thermo Fisher Scientific Inc. (U.S), and others.
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