Vacuum Blood Collection Market Introduction
Vacuum blood collection tube has gained significant valuation in the last few decades. Emergence of this technology has led to significant drop in overall blood contamination; while offering ease-of-use and accuracy in blood to additive ratios. As a result, many laboratories are well characterized by presence of vacuum blood collection tubes. Vacuum blood collection gained major market share at start of 1970’s wherein many leading players along with new entrants emerged in the market. Since then, the growth was however staggering before making major leap at start of 21st century. This blood collection tube industry is expected to create significant market opportunity over the forecast period 2016-2023. Vacuum blood collection system is a double pointed needle with a plastic holder and series of vacuum tubes with stoppers at the end.
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Technological advancement towards offering better therapeutic results with single drop blood along with rising pharmaceutical R&D spending to create good market prospects for the industry leaders
Rising incidences of diseases, changing lifestyle, increasing surgical and transfusion procedures and emergence of many new diagnostic centers in developing regions is expected to create substantial market opportunities for the players.
Moreover, the system has its added advantage over other blood collection technique. It is light weight, close loop, safety protection cap and easy to handle making it preferable choice among end-users. High shelf life also makes it one of the key products available in the market. It has a long shelf life of as high as 16 months.
China based players are gaining significant market traction and are expected to capture major chunk of the market in developing regions.
Some of the key players in the vacuum blood collection system market include
Terumo, Shandong Wego, Hebei Xinle Sci&Tech Co.,LTD, Dickinson and Company (US), Sunphoria Co., Ltd., Narang Medical Limited, CML Biotech, Bio – X, Labtech Disposables, Becton
Major companies in the vacuum blood collection market are focused on expanding their business in untapped regions. For instance, in July 2019, Terumo BCT, a company that develops and provides blood component and cellular technologies expanded its business in sub-Saharan Africa. The company started its first regional office in the region in Nairobi that is expected to focus on providing access to an adequate, safe and sustainable blood supply.
Furthermore, players in the market are also focused on upgrading and launching new products to expand their product portfolio. For instance, in its financial year 2018, Greiner Bio-One extended its range of safety products with an additional safety blood collection set: The VACUETTE SAFETY Winged Set. The company also launched the VACUETTE Serum Fast Tube and VACUETTE SAFELINK tube holder with integrated Luer Lock connector.
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Major companies are also focused on adopting acquisition strategies to expand their product portfolio. For instance, in April 2018, Sekisui Chemical Co., Ltd., a company that offers disposable clinical examination materials including plastic vacuum blood collection tubes, acquired all of the shares in Veredus Laboratories Pte. Ltd., a company that develops, manufactures and sells molecular analyzers and diagnostic reagents.
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