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In blood donation process, blood is collected as whole blood, and later it is separated into various components by a process called apheresis. The drawn blood volume varies, and its amount should not be more than 1% of the donor's bodyweight. This collection is done with automated equipment that collects only specific components of blood, or blood can also be collected manually.
The global blood collection market is expected to reach 6.5 billion USD by 2025 from 4.9 billion USD in 2020 at a growth rate of 6% between 2020 and 2025. The blood collection market growth is driven by the rise in the incidence of trauma and accidents and an increase in surgical procedures carried out across the world. Moreover, rising awareness and government initiatives about blood donation are expected to boost blood collection products' demand.
Across the world, chronic diseases are increasing rapidly. This is true, as almost half of the total chronic deaths are due to cardiovascular disease (CVD). Across the globe, lifestyle diseases are prevalent, particularly in developing countries. This has resulted in greater adherence to health checkups and the increasing importance of markers to find disease conditions, especially employing blood collection. Moreover, health checkups are gaining popularity both at the corporate and personal levels for the well-being of the individual. As a result of this, there will be growth in the blood collection market, and it will be a significant contributor to the blood collection market as blood tests are a primary mode of treating such diseases. The capital investments in automated blood collection in blood banks are very high as compared to whole blood collection. Also, therapeutic apheresis cost is also very high since it includes the additional cost of disposables, which is between USD 1500 to USD 3000 per patient. Thus, due to their high costs, the adoption of these automated blood collection products is very low compared to manual blood collection products in countries such as China and India. All of this limit the overall growth of the blood collection market.
A major concern is a cost of providing apheresis therapy, as estimates of cost of individual apheresis treatments are very much available but vary widely. The blood samples begin to change within hours of collection if not refrigerated or frozen. And this one of the characteristics of the blood samples as maintaining their stability is essential since blood components begin to degrade immediately. Moreover, extended exposure to ambient temperature can dramatically affect the outcome of any analysis on such samples. In a blood transfusion, there are risks, especially in underdeveloped countries, and this impedes the growth of the blood collection market.
Key Regional Insights
North America accounted for largest market share in global blood collection market in 2019. In the United States, the prevalence of CVD is expected to increase from 36.9% in 2010 to 38.7% by 2020 and 40.5% by 2030. Diabetes and Obesity are also increasing because they already affect a large proportion of the population and because they have started to affect at a young age. Moreover, the presence of developed healthcare infrastructure is anticipated to positively impact the growth of the market.
Asia Pacific market is anticipated to witness the highest growth during the forecast period. This can be attributed to the increasing presence of manufacturers in the Asia Pacific.
Key Market Players
The key market players are:
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The report offers a comprehensive insight on the Blood Collection Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
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