Asia Pacific Vacuum Blood Collection Tube Market

Market Introduction

A vacuum blood collection tube is a sterile glass or plastic test tube with a stopper that creates a vacuum inside the tube so that a preset volume of liquid can be depicted. The vacuum blood collection tube prevents needle stick damage by preventing needles from coming in human contact and thus, adulteration. A double-pointed needle is fitted to a plastic tubular adapter in the vacuum blood collecting tube. Double pointed needles are available in numerous gauge sizes. The needle's length varies from 1 to 1 1/2 inches. Additional elements may be present in vacuum blood collection tubes, which are used to preserve blood for treatment in a medical laboratory. The increasing government subsidiaries and health services are likely to drive the market. In addition, the rising awareness regarding benefits of sterilization among the developed and developing economies is expected to offer significant growth opportunities in the market during the forecast period.

Market Overview and Dynamics

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 key factors driving the growth of the market are the advancements in healthcare facilities and infrastructure, and technological developments in blood collection techniques and tubes. However, risks associated with blood transfusion hamper the market growth.

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.

Key Market Segments

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. In 2021, the serum separating tubes segment held the largest share of the market. Moreover, the EDTA tubes segment is expected to register the fastest CAGR during the forecast period.

Based on material, the Asia Pacific vacuum blood collection tube market is segmented into PET, polypropylene, and tempered glass. In 2021, the PET segment held the largest share of the market. Moreover, the same segment is also expected to register the highest CAGR during the forecast period.

Based on application, the Asia Pacific vacuum blood collection tube market is segmented into blood routine examination, biochemical test, and coagulation testing. In 2021, the blood routine examination segment held the largest share of the market. However, the coagulation testing segment is also expected to register the fastest CAGR during the forecast period.

Based on end user, the vacuum blood collection tube market is segmented into hospitals and clinics, ambulatory surgical centers, pathology labs, and blood banks. The blood banks segment held the largest share of the market in 2021. Moreover, the same segment is also estimated to register the highest CAGR of 9.1% in the market during the forecast period.

Major Sources and Companies Listed

A few of the primary and secondary sources associated with this report on the Asia Pacific vacuum blood collection tube market are the Indian Health Service (IHS), National Institute of Mental Health (NIMH), and China Food and Drug Administration (CFDA).

Reasons to buy the report

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ASIA PACIFIC VACUUM BLOOD COLLECTION TUBE MARKET SEGMENTATION

By Product

• Gel and Clot Activator Tubes
• Heparin Tubes
• EDTA Tubes
• Glucose Tubes
• Serum Separating Tubes
• ERS Tubes

By Material

• PET
• Polypropylene
• Tempered Glass

By Application

• Blood Routine Examination
• Biochemical Test
• Coagulation Testing

By End User

• Hospitals and Clinics
• Ambulatory Surgical Centers
• Pathology Labs
• Blood Banks

By Country

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Company Profiles

• BD
• Narang Medical Limited.
• Terumo Corporation
• Greiner AG
• FL MEDICAL s.r.l.
• GPC Medical LTD
• Vitrex Medical A/S
• ELITechGroup
• SEKISUI CHEMICAL CO. LTD
• SARSTEDT AG and Co. KG

Asia Pacific Vacuum Blood Collection Tube Market Strategic Insights

Asia Pacific Vacuum Blood Collection Tube Market Segmentation Analysis

Asia Pacific Vacuum Blood Collection Tube Market Report Highlights

Asia Pacific Vacuum Blood Collection Tube Report Scope

Asia Pacific Vacuum Blood Collection Tube Market Country and Regional Insights