At 6.0% CAGR, Europe Blood Collection Devices Market is Projected to be Worth US$ 3,827.75 Million by 2030, says Business Market Insights

According to Business Market Insights research, the Europe blood collection devices market was valued at US$ 2,401.04 million in 2022 and is expected to reach US$ 3,827.75 million by 2030, registering a CAGR of 6.0% from 2022 to 2030. Rising incidences of chronic diseases and increase in prevalence of cancer worldwide are among the critical factor attributed to the Europe blood collection devices market expansion.        

Blood collection devices are used for drawing blood from the veins. According to the World Health Organization, the most noncommunicable disease-related deaths are cardiovascular diseases, accounting for ∼17 million people each year, followed by cancers, chronic respiratory diseases, and diabetes (including deaths associated with the kidney). Furthermore, the needles are used for drawing blood for cholesterol testing as high cholesterol can cause heart stroke and heart attack. According to the World Heart Federation, high cholesterol causes 4.4 million deaths yearly, and ∼24% of cardiovascular-related deaths are attributable to high low-density lipoprotein (LDL) cholesterol. Further, diabetes is a life-threatening chronic disease with no practical cure. Diabetes can lead to several complications in different body parts and increase the probability of premature death. Heart attack, kidney failure, stroke, vision loss, leg amputation, and nerve damage are the major complications associated with diabetes. As per the International Diabetes Federation (IDF), in 2021, ∼537 million adults suffered from diabetes worldwide. The number is anticipated to reach 643 million and 783 million by 2030 and 2045, respectively. The treatment of chronic diseases requires blood tests and long-term medications; hence, the growing incidence of chronic diseases is anticipated to create numerous growth opportunities for the market players in the coming years.

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

Based on product type, the Europe 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 Europe blood collection devices market in 2022, amassing US$ 791.84 million. It is projected to garner US$ 1,337.68 million by 2030 to expand at 6.8% CAGR during 2022–2030. 

In terms of methods, the Europe blood collection devices market is bifurcated into manual blood collection and automated blood collection. The manual blood collection segment held 83.4% share of Europe blood collection devices market in 2022, amassing US$ 2,002.70 million. It is projected to garner US$ 3,167.45 million by 2030 to expand at 5.9% CAGR during 2022–2030.

By end user, the Europe 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 Europe blood collection devices market in 2022, amassing US$ 1,401.19 million. It is projected to garner US$ 2,260.26 million by 2030 to expand at 6.2% CAGR during 2022–2030.

Based on country, the Europe blood collection devices market has been categorized into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 23.9% share of Europe blood collection devices market in 2022. It was assessed at US$ 574.89 million in 2022 and is likely to hit US$ 956.71 million by 2030, exhibiting a CAGR of 6.6% during 2022–2030.

Key players operating in the Europe 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, Greiner Bio One International GmBH, FL Medical SRL, and IntervacTechnology, among others.

• In January 2023, Thermo Fisher Scientific Partners with AstraZeneca to Develop Solid Tissue and Blood-Based Companion Diagnostic Test for Tagrisso.
• In April 2021, Greiner Bio-One launched VACUETTE line, the innovative evoprotect safety Blood Collection Set. It meets the requirements of the EU Directive 2010/32. It is an innovative safety mechanism that can be conveniently activated while the needle is in the vein protects blood collection staff against potential injuries.

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