At 6.4% CAGR, Asia Pacific Blood Collection Devices Market is Projected to be Worth US$ 3,312.87 Million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific blood collection devices market was valued at US$ 2,023.18 million in 2022 and is expected to reach US$ 3,312.87 million by 2030, registering a CAGR of 6.4% from 2022 to 2030. Surge in demand for minimally invasive diagnostic tests and rising incidences of chronic diseases are among the critical factor attributed to the Asia Pacific blood collection devices market expansion.        

Minimally invasive sampling techniques, such as capillary blood sampling, are routinely used for point-of-care testing in the home healthcare setting and clinical settings, such as the ICU, providing less pain and wounding than conventional venipuncture. There is a growing preference for minimally or noninvasive tests among patients for diagnostic purposes. Early cancer detection, tumor monitoring throughout treatment, mutation detection, and recurrence monitoring are possible using liquid biopsy and capillary blood sampling, which uses a noninvasive blood sample. Researchers can trace all genetic changes and epigenetics in solid tumors with a blood test, which is a simple and noninvasive technique. Patients select minimally invasive procedures for the advanced instruments used in the procedures, which allow for more complex and delicate work to be executed with less pain, lower risk, and less scarring. Due to the advancements in technology in terms of feasibility and processing times, the blood collection procedure has recently attracted considerable interest as a noninvasive alternative. A blood test is a painless and noninvasive procedure that also reduces the cost and time it takes to diagnose a problem. A blood test is a simple alternative to surgical biopsies that allows doctors to discover information about tumors from a simple blood sample. Hence, the surge in demand for minimally invasive or noninvasive diagnostic tests fuels the Asia Pacific blood collection devices market growth.

On the contrary, risk associated with needlestick injuries hampers the growth of Asia Pacific blood collection devices market.  

Based on product type, the Asia Pacific blood collection devices market is segmented into blood collection tubes, blood collection needles/holders, blood collection set, and others. The blood collection tubes segment held 33.0% share of Asia Pacific blood collection devices market in 2022, amassing US$ 667.23 million. It is projected to garner US$ 1,157.75 million by 2030 to expand at 7.1% CAGR during 2022–2030. 

In terms of methods, the Asia Pacific blood collection devices market is bifurcated into manual blood collection and automated blood collection. The manual blood collection segment held 83.4% share of Asia Pacific blood collection devices market in 2022, amassing US$ 1,687.21 million. It is projected to garner US$ 2,739.10 million by 2030 to expand at 6.2% CAGR during 2022–2030.

By end user, the Asia Pacific blood collection devices market is segmented into hospitals and pathology laboratories, blood bank, and others. The hospitals and pathology laboratories segment held 58.4% share of Asia Pacific blood collection devices market in 2022, amassing US$ 1,180.61 million. It is projected to garner US$ 1,955.66 million by 2030 to expand at 6.5% CAGR during 2022–2030.

Based on country, the Asia Pacific blood collection devices market has been categorized into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 33.1% share of Asia Pacific blood collection devices market in 2022. It was assessed at US$ 668.73 million in 2022 and is likely to hit US$ 1,128.11 million by 2030, exhibiting a CAGR of 6.8% during 2022–2030.

Key players operating in the Asia Pacific blood collection devices market are Becton Dickenson and Co, Terumo Corp, Cardinal Health, SARSTEDT AG & Co. KG, NIPRO, Thermo Fisher Scientific Inc, Sekisui Chemical Co Ltd, and Greiner Bio One International GmBH, among others.

• In June 2022, Cardinal Health announced the acquisition of ScalaMed, a HIPAA-compliant smart platform that transmits medicines directly to patients via a secure mobile app. ScalaMed's technology and assets are being transferred to Outcomes, a Cardinal Health firm, as part of the transaction. ScalaMed shifts prescription management from the provider to the patient, allowing patients to transfer prescriptions issued by their clinician to any pharmacy for the initial fill. The platform provides patients with increased freedom, easier access, and price comparison when choosing a pharmacy.

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