Market Research Future (MRFR), in the recently published report on the Capillary Blood Collection Devices Market, claimed that the said market could achieve 10% CAGR over the forecast period (2017-2023). In the process, it can cross the expected valuation of USD 778.38 million by the end of 2023. Capillary blood collection is a method to obtain blood from infants or newborns for genetic screening. In adults, it is done by pricking fingers, and in infants, by pricking their heel. The specimen is then collected by a microsampling device which is then to measure glucose measurement. The device needed for this testing is different from the typical venipuncture equipment. These devices include lancets, microcontainer tubes, microhematocrit tubes and sealants, and warming devices. MRFR in their report includes segments of the market with detailed analysis, factors that can ensure growth, and competitive analysis of major market players.
The capillary blood collection devices market is gaining favorable wind from the regulations supporting the production of medical devices. Also, the rise in chronic diseases has led to the demand for constant check-ups. One such chronic disease, diabetes is influencing the market in an unprecedented way. The sale of such devices has grown multifold in the last few years owing to the growing awareness regarding the disease. The technology has also come a long way due to which the painful procedure has just become a prick. However, the risk associated with capillary blood assortment techniques can hinder the expected market growth.
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Capillary Blood Collection Devices Market Segmentation:
MRFR report on the global capillary blood collection devices market is founded on the segmentation by material, type of devices, and end-user.
Based on the material, the capillary blood collection devices market can be segmented into plastic, glass, stainless steel, and others. The plastic segment has control over 42.3% of the market share and can exhibit a CAGR of 104% during the forecast period.
Based on the type of devices, the capillary blood collection devices market includes blood collecting tubes and collector, lancets, and warming devices. Tubes and collector have the maximum market share of 48.4%, whereas lancets are fast becoming popular.
Based on the end-user, the capillary blood collection devices market comprises home diagnostics, hospitals, clinics, diagnostic centers and pathology laboratories, and others. Home diagnostics segment is fast grabbing eyeballs owing to the awareness growing among the commoners and its user-friendly application nature.
Capillary Blood Collection Devices Market Regional Analysis:
MRFR report segments the capillary blood collection devices market geographically into the Americas, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).
The Americas has the lion’s share in the capillary blood collection devices market owing to a hike in the healthcare expenditure, robust infrastructure, and knowledge about such devices. Researches to counter contagious diseases across the world is also a major reason that is spurring the regional market growth.
Europe follows the lead of the Americas in terms of generating revenues from the regional market. The region is profiting more from the government initiatives taken to help innovate products and bring down the price.
The APAC region is expected to register the fastest growth rate during the forecast period. The revamped healthcare sector in several countries and government initiatives can provide the thrust for the market to gallop forward.
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Capillary Blood Collection Devices Market Competitive Landscape:
Notable players in the capillary blood collection devices market as reported by MRFR are Danaher Corporation, F. Hoffmann-La Roche AG, Abbott Laboratories, Novo Nordisk A S, Becton Dickinson and Company, Ypsomed Holding AG, HTL-STREFA S.A., Medtronic PLC, Thermo Fisher Scientific Inc., B. Braun Melsungen AG, Terumo Corporation, Sarstedt AG & Co, Chengdu Rich Science Industry Co., Ltd., Owen Mumford Ltd., Greiner Bio-One, Improve Medical, Nipro, Medigard, Weigao Group, Weihai Hongyu Medical Devices, and others.
Recently, Seventh Sense’s introduced TAPdevice, which can collect 100 microliters capillary blood into a vacuum chamber. The process requires firing an array of 30 microneedles into the upper arm. They are now planning to launch one which can collect up to 250 microliters.
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This post was originally published on The Market Plan