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The Arterial
Blood Collection Market is projected to reach USD 1924.34 million by 2030
at 10.2% CAGR during the forecast period 2022-2030. The rise in diagnostic
procedures is shaping the demand for the arterial blood collection devices
market positively. Reports that evaluate the medical device industry have been
made accessible by Market Research Future, which creates reports on several industry
verticals that review the market development and prospects. The market is
poised to achieve a CAGR of 9.1% while amassing income worth USD 1,624.6
million by the conclusion of the forecast in 2023.
The expansion of the diagnostic sector is expected to create
momentum for the expansion of the market. Moreover, the increased detection
rate of chronic ailments is expected to encourage the progress of the arterial
blood collection devices market. The escalated investment being dedicated to
research and development in the arterial blood collection devices market is
estimated to benefit long-term growth.
Segmental Analysis
The segmental evaluation of the arterial blood collection
devices market is carried out on the basis of type, application, end user, and
region. Based on type, the market for arterial blood collection devices is
segmented into microfluidic system, lancet, needles, blood collection tubes,
vacuum blood collection system, and other devices. By application, the arterial
blood collection market is segmented into intraoperative blood salvage and
arterial blood gas sampling. The arterial blood gas sampling is further
sub-segmented into acid base status monitoring and diagnosis of disease. The
end-user based segmentation of the arterial blood collection devices market
comprises of hospitals & clinics, blood banks, laboratories, and others.
Based on the regions, the arterial blood collection devices market comprises of
Europe, the Americas, APAC, and the Middle East & Africa.
Detailed Regional Analysis
The regional assessment of the arterial blood collection
devices market includes regions such as Europe, the Americas, APAC, and the
Middle East & Africa. The Americas is responsible for a substantial market
share in 2016, as a result of growing prevalence of chronic diseases,
increasing emphasis on safe blood transfusion processes the concentration of
major market players producing blood collection devices, and widespread demand
for diagnostic services.The European region is the second principal
market and holds a significant share in the arterial blood collection devices
market. The availability of funds from the government for research and
development is anticipated to contribute to the development of the market. The
increased demand for diagnostic services in the Asia Pacific region is a
significant factor for market development. Increasing awareness about the use
of sterile blood collection devices and an escalating number of surgical
procedures are driving the market in the Asia Pacific region.The Middle
East and African region are anticipated to display steady growth in this market
owing to the growing prevalence of transmissible transfusion infections and the
demand for medical devices for diagnostics. The government has also commenced
awareness programs for safe blood transfusion procedure, which is additionally
improving the health conditions in the underdeveloped regions of Africa.
Competitive Analysis
Amplified investment in the market is likely to motivate the
positive changes in the market in the forecast period. The decrease in trade
restrictions is anticipated to create favorable opportunities for development
in the forecast period. The presence of favorable trade policies is anticipated
to improve the growth of the market in the impending period. Strong insights
into the market’s condition is motivating the expansion of the forecast period.
The offering in the market has also diversified considerably ensuring
availability of better-quality products in the market. The emergence of
specialization in production has also increasingly improved the growth
trajectory of the market. The efficiencies achieved in the allocation of
resources is expected to encourage the development of the market in the
approaching period. Moreover, increased cost efficiencies are projected to
positively impact the progress of the market in the coming years.
The chief contenders in the artificial blood collection
devices market are Terumo Medical Corporation (U.S), Bio-Rad Laboratories, Inc.
(U.S), Becton, Dickinson and Company (U.S), Qiagen (Netherlands), NIPRO Medical
Corporation (Japan), F. Hoffmann-La Roche Ltd (Switzerland), Thermo Fisher
Scientific, Inc. (U.S) and others.
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