The global capillary blood collection devices market is project worth $1.73 Billion by 2026 and the market is projected to showcase 5.2% CAGR during the forecast period. Increasing incidences of chronic, infectious, and autoimmune diseases worldwide and ease of usage, and various other favourable features of capillary blood collecting devices are expected to drive the global capillary blood collection devices market.
Increase in incidences of infectious, chronic, and autoimmune diseases are few of the major factors that encourage the demand leading to market growth owing to rising number of blood tests globally. The technique of drawing blood through capillary devices has been among the most widely used for haemoglobin and glucose testing in hospitals and clinics. Minimally invasive nature and ease of usage make it ideal for testing and home care diagnosis, thus boosting the global capillary blood collection devices market’s growth. The popularity of usage of this technique in conjugation with PoC diagnostics has turn out to be the preferred mode of testing in ambulatory and remote health settings.
Chronic diseases are global healthcare issues with over half of the adult population in the U.S. suffering from such diseases, which is recorded to contribute over 75% of the total healthcare cost in the nation. Thus, increasing number of chronic and infectious diseases create huge demand for diagnostic testing, thus encouraging growth of these collection devices.
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Plastic devices held the greater market share in 2017 due to their cost-effectiveness, lightweight, and biocompatible nature in addition to widespread usage in medical devices. Non-porous nature, durability, and impassable are few factors boosting the demand for glass devices in the global capillary blood collection devices market. Glass and plastic based collection devices are likely to dominate the global capillary blood collection devices market during the forecast period due to its extensive usage in the manufacture of medical devices and other related products.
North America capillary blood collection devices market is expected to lead the global market throughout the forecast period attributable to existence of prominent number of market players and high incidence of infectious and chronic diseases.
The Asia Pacific capillary blood collection devices market is expected to increase at the considerable CAGR during the forecast period. Dense population along with increasing incidences of chronic diseases such as diabetes and cancer are the major factors boosting to the growth of the regional market.
The key players catering to the global capillary blood collection devices market are Dickinson and Company; Becton, Sarstedt AG & Co; Thermo Fisher Scientific Inc.; NIPRO Europe Corporation; Terumo Medical Corporation; Cardinal Health; Kabe Labortechnik GmbH; B Braun Melsungen AG; Greiner Bio One International GmbH; and Owen Mumford Ltd. The global players are continuously investing in R&D and innovating new product portfolio to attract more and more business opportunity from the emerging nation such as India and China. Also, Increasing R&D investments coupled with technological advancements to commercialise highly efficient products are anticipated to offer lucrative opportunities for industry participants.