Report : Asia Pacific Vacuum Blood Collection Tube Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Serum Separating Tubes, EDTA Tubes, Heparin Tubes, ESR Tubes, and Glucose Tubes), Material (PET, Polypropylene, and Tempered Glass), Application (Blood Routine Examination, Biochemical Test, and Coagulation Testing), and End User (Hospitals and Clinics, Ambulatory Surgical Centers, Pathology Labs, and Blood Banks)
The EDTA tubes segment by product is estimated to lead the market growth during the forecast period.
According to a new market research study of “Asia Pacific vacuum blood collection tube market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Material, Application, End User and Country.” The Asia Pacific vacuum blood collection tube market is expected to grow from US$ 491.17 million in 2021 to US$ 885.76 million in 2028; it is estimated to register a CAGR of 8.8% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific vacuum blood collection tube market and the factors driving market along with those that act as hindrances.
The prevalence of blood transfusion in major orthopedic and cardiovascular spurs the demand for vacuum blood collection tubes in Asia Pacific. People prefer contactless blood collection to avoid infections and contamination risks. This will also lead to the demand for advanced healthcare infrastructure with improved facilities in the hospitals. Asia-Pacific countries are focusing on introducing advanced healthcare facilities and services to overcome critical health issues. Many pathology laboratories and diagnostic centers-initiated home visits for blood collection, and companies have launched devices to collect blood. Blood collection at home has become popular during the pandemic due to travel restrictions and social distancing norms. Moreover, Medicare, Medicaid, the State Children's Health Insurance Program (SCHIP), the Department of Defense TRICARE and TRICARE for Life program (DOD TRICARE), the Veterans Health Administration (VHA) program, and the Indian Health Service (IHS) program, six major government healthcare programs, provide healthcare services. The federal government has the principal responsibility of ensuring that ~US$ 500 billion invested annually through these programs are used wisely to reduce the burden of illness, injury, and disability; and improve the population's health and functioning. These government initiatives are likely to provide lucrative opportunities for the vacuum blood collection tube market players to introduce advanced products.
Asia-Pacific countries are expected to witness huge challenges due to the growing cases of COVID-19. Considering economic operations and geographic conditions, the outbreak of COVID-19 affected medical tourism, diagnostic kit and drug manufacturers, supply chains, and distributors. The shortage of healthcare infrastructure in low-income countries also posed serious problems. Restrictive measures are taken in countries such as India, South Korea, Singapore, Malaysia, and the Philippines to prevent the spread of COVID-19. According to the WHO, any additional health measures implemented in countries affected by the COVID-19 pandemic are likely to significantly interfere with international travel and trade. Asia-Pacific countries have large geriatric populations, which are known to be more susceptible to COVID-19. The health conditions of elderly COVID-19 patients are generally critical due to other chronic comorbidities such as diabetes and high blood pressure. Hence, the use of vacuum blood collection tubes in hospitals and diagnostic centers has increased substantially during the pandemic.
Based on product, the Asia Pacific vacuum blood collection tube market is segmented into heparin tubes, EDTA tubes, glucose tubes, serum separating tubes, and ERS tubes. Based on material, the Asia Pacific vacuum blood collection tube market is segmented into PET, polypropylene, and tempered glass. Based on application, the Asia Pacific vacuum blood collection tube market is segmented into blood routine examination, biochemical test, and coagulation testing. Based on end user, the Asia Pacific vacuum blood collection tube market is segmented into hospitals and clinics, ambulatory surgical centers, pathology labs, and blood banks. Geographically, the Asia Pacific vacuum blood collection tube market is sub-segmented into China, Japan, India, Australia, South Korea and Rest of Asia Pacific.
BD, Narang Medical Limited., Terumo Corporation, Greiner AG, FL MEDICAL s.r.l., GPC Medical LTD, ELITechGroup, SEKISUI CHEMICAL CO. LTD and SARSTEDT AG and Co. KG are among the leading companies operating in the Asia Pacific vacuum blood collection tube market.
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