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Blood Collection Market Size
Blood collection market size was valued at around USD 10.9 billion in 2023 and is estimated to grow at 6.9% CAGR from 2024 to 2032. Blood collection is a key process in healthcare, used for diagnosis, treatment, and research. It usually involves drawing blood from a vein (venipuncture), a capillary (fingerstick), or an artery, depending on the sample's purpose. This procedure is essential in medical practice, helping to diagnose diseases, monitor health, give treatments, and conduct research.
The rising incidence of chronic diseases such as cardiovascular diseases, diabetes, respiratory diseases, and cancer is a significant driver for the market. For instance, according to the National Institutes of Health (NIH), in 2021, an estimated 529 million individuals were affected with type 2 diabetes, predominantly driving approximately 96% of diabetes cases globally. Thus, this underscores the increasing demand for blood collection products and services to facilitate ongoing diagnosis, monitoring, and treatment of these chronic conditions.
Blood Collection Market Report Attributes
| Report Attribute |
Details |
| Base Year: | 2023 |
|---|
| Blood Collection Market Size in 2023: | USD 10.9 Billion |
|---|
| Forecast Period: | 2024-2032 |
|---|
| Forecast Period 2024-2032 CAGR: | 6.9% |
|---|
| 2032 Value Projection: | USD 19.6 Billion |
|---|
| Historical Data for: | 2021-2023 |
|---|
| No. of Pages: | 309 |
|---|
| Tables, Charts & Figures: | 532 |
| Segments covered: | Product Type, Method, Application, End-use, and Region |
|---|
| Growth Drivers: | - Rising incidence of chronic and infectious diseases
- Advancements in blood collection technologies
- Increasing number of surgical procedures
- Rising geriatric population
|
|---|
| Pitfalls & Challenges: | - High cost of blood collection equipment
- Risks associated with blood transfusions
|
|---|
Furthermore, advancements in blood collection technologies, increasing number of surgical procedures, and rising geriatric population are the promoting factors advancing the growth of the market.
