Blood Collection Needles Market Strategies, Trends, and Forecast - 2031
The Blood Collection Needles Market is expected to register a CAGR of 5.6% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented By Type (Safety Blood Collection Needles, Standard Blood Collection Needles); End-User (Hospitals, Clinics, Ambulatory Surgical Centers). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Blood Collection Needles Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Blood Collection Needles Market Segmentation
Type- Safety Blood Collection Needles
- Standard Blood Collection Needles
- Hospitals
- Clinics
- Ambulatory Surgical Centers
Strategic Insights
Blood Collection Needles Market Growth Drivers- Rising Prevalence of Chronic Diseases: An increase in the prevalence of chronic diseases such as diabetes, heart disorders, and malignancies is one of the primary factors fuelling the growth of the blood collection needles market. Blood tests, especially in the monitoring of glucose or cancer biomarkers, for a chronic disease management plan is often a short-term intensive strategy. This increased requirement for such diagnostic examination promotes the use of safe and efficient blood collection needles and thus increases the growth of the market.
- Advancements in Needle Technology: Market growth can be attributed to technological developments in the design of blood collection needles, for instance, smaller sharper and less painful needles. Devices like safety-engineered needles which help in preventing needle-stick injuries and cross-contamination are in demand in the healthcare system as well as laboratory environments. These developments in the devices are increasing their uptake by healthcare personnel hence increasing the market.
- Increase in Blood Donation and Transfusion Activities: The increasing quantity of blood donation programs and the increasing requirements for blood transfusions especially in the underdeveloped areas, is one of the major factors contributing to the blood collection needles market. With the growing number of health systems that have concentration on blood banks so as to be ready during emergencies or surgeries, the market for blood collection needles has expanded in both medical and related activities.
- Shift Towards Safety-Engineered Needles: One of the major trends in the blood collection needles market is demand for safety engineered tools. These types of needles are designed with additional mechanisms that protect healthcare personnel from accidental needle-stick injuries by either retracting the needle after use or covering it up. There are better technologies and concern within the work environment owing to the safety policies and has therefore resulted in the introduction of more of these technologies in the hospitals and clinics which in turn has increased the demand of the market.
- Growth in Home Healthcare Testing: The increase in providing health care services and self-monitoring of patients especially for long term conditions like diabetes has invigorated the need for blood collection needles that are suited for use at home. These needles are usually short in size, easy to operate and have in most cases self protective features. With patients becoming more active participants in their well being, the trend for these products of blood collection at home continues to grow.
- Integration of Advanced Materials for Comfort: Yet another growing trend is the use of smart materials in the design of blood collection needles for the comfort of the patients. Needles of this kind have been modified in terms of attachments where by the users are offered silicone coated and also hydrophilic polymer coated needles that cause less pain and discomfort when drawing blood. As more and more patients demand for pain free and non-invasive procedures, such measures are being adopted in the primary care sector as well as in specialized clinics.
- Expansion of Point-of-Care Testing: The rising acceptance of POC diagnostic testing is also likely to open more avenues for the blood collection needles market. In light of the fact that point of care tests are being increasingly implemented in clinics and pharmacies, and even at home, there is also an increased demand for plastic, easily operable blood collection needles. These products offer quicker results and more convenient use of the test thereby enhancing the growth of the market especially in the emerging healthcare market.
- Emerging Markets and Healthcare Access: Developing healthcare structures in the other parts of the world presents a huge advantage as facilitated access to healthcare would mean an increase in the consumption of blood collection needles. As Asia, Africa, and Latin America progress into the developing world and more advanced healthcare becomes available, there is an increasing need for diagnostic as well as blood collection equipment. There is also a growing emphasis on - and hence need for - blood collection needles in primary healthcare due to services provision such as preventative care, maternal services and infectious disease outbreaks.
- Personalized Medicine and Genetic Testing: Growth of a trend such as individualized medicine and genetic tests provides the blood collection needles market with additional windows of opportunity. With the increase of genomic testing in cases previously diagnosed as ‘waiting conditions’, new methods of blood sampling that are minimally invasive and precise have emerged. What is more, as the personalized healthcare advances, these blood collection needles which have specific design features for genetic tests such as DNA extraction are likely to be in greater demand.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Blood Collection Needles Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Blood Collection Needles Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The market is expected to grow at a CAGR of 5.6%
Rising prevalence of chronic diseases and advancements in needle technology is the major factors boosting the blood collection needles market growth
The North America region accounts for highest revenue share blood collection needles market
The final report will duly include market size and projection estimates for all the segments from 2021 to 2031, along with a revenue share and compound annual growth rate (%) for the regional
/
country-wise market wherein 2021-2022 are the historic years, 2023 is considered to be the base year, and the forecast will be provided till 2031, along with CAGR (%)
Asia Pacific is estimated to grow at the highest CAGR over the forecast year (2023 - 2031)
Medsurg, NIPRO Medical, Argon Medical Devices, B. Braun Melsungen AG, Medtronic, Boston Scientific, BD Medical, Terumo Corporation, Novo Nordisk, Smith Medical are the some of the key market players operating in the blood collection needles market
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Blood Collection Needles Market - By Type
1.3.2Blood Collection Needles Market - By End-User
1.3.3Blood Collection Needles Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.BLOOD COLLECTION NEEDLES MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PORTERâ™S FIVE FORCES ANALYSIS
4.2.1Bargaining Power of Buyers
4.2.1Bargaining Power of Suppliers
4.2.1Threat of Substitute
4.2.1Threat of New Entrants
4.2.1Competitive Rivalry
4.3.EXPERT OPINIONS
5.BLOOD COLLECTION NEEDLES MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.BLOOD COLLECTION NEEDLES MARKET - GLOBAL MARKET ANALYSIS
6.1.BLOOD COLLECTION NEEDLES - GLOBAL MARKET OVERVIEW
6.2.BLOOD COLLECTION NEEDLES - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.BLOOD COLLECTION NEEDLES MARKET - REVENUE AND FORECASTS TO 2028 â" TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.SAFETY BLOOD COLLECTION NEEDLES
7.3.1.Overview
7.3.2.Safety Blood Collection Needles Market Forecast and Analysis
7.4.STANDARD BLOOD COLLECTION NEEDLES
7.4.1.Overview
7.4.2.Standard Blood Collection Needles Market Forecast and Analysis
8.BLOOD COLLECTION NEEDLES MARKET - REVENUE AND FORECASTS TO 2028 â" END-USER
8.1.OVERVIEW
8.2.END-USER MARKET FORECASTS AND ANALYSIS
8.3.HOSPITALS
8.3.1.Overview
8.3.2.Hospitals Market Forecast and Analysis
8.4.CLINICS
8.4.1.Overview
8.4.2.Clinics Market Forecast and Analysis
8.5.AMBULATORY SURGICAL CENTERS
8.5.1.Overview
8.5.2.Ambulatory Surgical Centers Market Forecast and Analysis
9.BLOOD COLLECTION NEEDLES MARKET REVENUE AND FORECASTS TO 2028 â" GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Blood Collection Needles Market Overview
9.1.2North America Blood Collection Needles Market Forecasts and Analysis
9.1.3North America Blood Collection Needles Market Forecasts and Analysis - By Type
9.1.4North America Blood Collection Needles Market Forecasts and Analysis - By End-User
9.1.5North America Blood Collection Needles Market Forecasts and Analysis - By Countries
9.1.5.1United States Blood Collection Needles Market
9.1.5.1.1United States Blood Collection Needles Market by Type
9.1.5.1.2United States Blood Collection Needles Market by End-User
9.1.5.2Canada Blood Collection Needles Market
9.1.5.2.1Canada Blood Collection Needles Market by Type
9.1.5.2.2Canada Blood Collection Needles Market by End-User
9.1.5.3Mexico Blood Collection Needles Market
9.1.5.3.1Mexico Blood Collection Needles Market by Type
9.1.5.3.2Mexico Blood Collection Needles Market by End-User
9.2.EUROPE
9.2.1Europe Blood Collection Needles Market Overview
9.2.2Europe Blood Collection Needles Market Forecasts and Analysis
9.2.3Europe Blood Collection Needles Market Forecasts and Analysis - By Type
9.2.4Europe Blood Collection Needles Market Forecasts and Analysis - By End-User
9.2.5Europe Blood Collection Needles Market Forecasts and Analysis - By Countries
9.2.5.1Germany Blood Collection Needles Market
9.2.5.1.1Germany Blood Collection Needles Market by Type
9.2.5.1.2Germany Blood Collection Needles Market by End-User
9.2.5.2France Blood Collection Needles Market
9.2.5.2.1France Blood Collection Needles Market by Type
9.2.5.2.2France Blood Collection Needles Market by End-User
9.2.5.3Italy Blood Collection Needles Market
9.2.5.3.1Italy Blood Collection Needles Market by Type
9.2.5.3.2Italy Blood Collection Needles Market by End-User
9.2.5.4Spain Blood Collection Needles Market
9.2.5.4.1Spain Blood Collection Needles Market by Type
9.2.5.4.2Spain Blood Collection Needles Market by End-User
9.2.5.5United Kingdom Blood Collection Needles Market
9.2.5.5.1United Kingdom Blood Collection Needles Market by Type
9.2.5.5.2United Kingdom Blood Collection Needles Market by End-User
9.2.5.6Russia Blood Collection Needles Market
9.2.5.6.1Russia Blood Collection Needles Market by Type
9.2.5.6.2Russia Blood Collection Needles Market by End-User
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Blood Collection Needles Market Overview
9.3.2Asia-Pacific Blood Collection Needles Market Forecasts and Analysis
9.3.3Asia-Pacific Blood Collection Needles Market Forecasts and Analysis - By Type
9.3.4Asia-Pacific Blood Collection Needles Market Forecasts and Analysis - By End-User
9.3.5Asia-Pacific Blood Collection Needles Market Forecasts and Analysis - By Countries
9.3.5.1Australia Blood Collection Needles Market
9.3.5.1.1Australia Blood Collection Needles Market by Type
9.3.5.1.2Australia Blood Collection Needles Market by End-User
9.3.5.2China Blood Collection Needles Market
9.3.5.2.1China Blood Collection Needles Market by Type
9.3.5.2.2China Blood Collection Needles Market by End-User
9.3.5.3India Blood Collection Needles Market
9.3.5.3.1India Blood Collection Needles Market by Type
9.3.5.3.2India Blood Collection Needles Market by End-User
9.3.5.4Japan Blood Collection Needles Market
9.3.5.4.1Japan Blood Collection Needles Market by Type
9.3.5.4.2Japan Blood Collection Needles Market by End-User
9.3.5.5South Korea Blood Collection Needles Market
9.3.5.5.1South Korea Blood Collection Needles Market by Type
9.3.5.5.2South Korea Blood Collection Needles Market by End-User
9.3.5.6Rest of Asia-Pacific Blood Collection Needles Market
9.3.5.6.1Rest of Asia-Pacific Blood Collection Needles Market by Type
9.3.5.6.2Rest of Asia-Pacific Blood Collection Needles Market by End-User
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Blood Collection Needles Market Overview
9.4.2Middle East and Africa Blood Collection Needles Market Forecasts and Analysis
9.4.3Middle East and Africa Blood Collection Needles Market Forecasts and Analysis - By Type
9.4.4Middle East and Africa Blood Collection Needles Market Forecasts and Analysis - By End-User
9.4.5Middle East and Africa Blood Collection Needles Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Blood Collection Needles Market
9.4.5.1.1South Africa Blood Collection Needles Market by Type
9.4.5.1.2South Africa Blood Collection Needles Market by End-User
9.4.5.2Saudi Arabia Blood Collection Needles Market
9.4.5.2.1Saudi Arabia Blood Collection Needles Market by Type
9.4.5.2.2Saudi Arabia Blood Collection Needles Market by End-User
9.4.5.3U.A.E Blood Collection Needles Market
9.4.5.3.1U.A.E Blood Collection Needles Market by Type
9.4.5.3.2U.A.E Blood Collection Needles Market by End-User
9.4.5.4Rest of Middle East and Africa Blood Collection Needles Market
9.4.5.4.1Rest of Middle East and Africa Blood Collection Needles Market by Type
9.4.5.4.2Rest of Middle East and Africa Blood Collection Needles Market by End-User
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Blood Collection Needles Market Overview
9.5.2South and Central America Blood Collection Needles Market Forecasts and Analysis
9.5.3South and Central America Blood Collection Needles Market Forecasts and Analysis - By Type
9.5.4South and Central America Blood Collection Needles Market Forecasts and Analysis - By End-User
9.5.5South and Central America Blood Collection Needles Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Blood Collection Needles Market
9.5.5.1.1Brazil Blood Collection Needles Market by Type
9.5.5.1.2Brazil Blood Collection Needles Market by End-User
9.5.5.2Argentina Blood Collection Needles Market
9.5.5.2.1Argentina Blood Collection Needles Market by Type
9.5.5.2.2Argentina Blood Collection Needles Market by End-User
9.5.5.3Rest of South and Central America Blood Collection Needles Market
9.5.5.3.1Rest of South and Central America Blood Collection Needles Market by Type
9.5.5.3.2Rest of South and Central America Blood Collection Needles Market by End-User
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.BLOOD COLLECTION NEEDLES MARKET, KEY COMPANY PROFILES
11.1.MEDSURG
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.NIPRO MEDICAL
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.ARGON MEDICAL DEVICES
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.B. BRAUN MELSUNGEN AG
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.MEDTRONIC
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.BOSTON SCIENTIFIC
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.BD MEDICAL
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.TERUMO CORPORATION
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.NOVO NORDISK
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.SMITH MEDICAL
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1. Medsurg
2. NIPRO Medical
3. Argon Medical Devices
4. B. Braun Melsungen AG
5. Medtronic
6. Boston Scientific
7. BD Medical
8. Terumo Corporation
9. Novo Nordisk
10. Smith Medical
11. Hamilton Syringes & Needles
12. Hi-Tech Medicare Devices
13. AdvaCare Pharma
14. McKesson Corporation
15. Henry Schein Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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