Capillary Blood Collection Devices Market To Hit USD 3.4 Billion By 2032, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Capillary blood collection devices industry is projected to witness a CAGR of 7.7% during the period 2024-2032. This growth can be attributed to increasing prevalence of chronic diseases.

Selbyville, Delaware, Sept. 25, 2024 (GLOBE NEWSWIRE) --

Capillary Blood Collection Devices market size is estimated to be valued at USD 3.4 billion by the end of 2032 driven by the rising demand for minimally invasive and painless procedures in diagnostics. These devices are increasingly preferred for their convenience and lower risks compared to traditional venipuncture methods, especially in pediatric, geriatric, and homecare settings.

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The growing prevalence of chronic diseases, such as diabetes, which require regular blood testing, has also fueled the demand for capillary blood collection devices. As per reports, in June 2023, more than 529 million people globally were suffering from diabetes. Technological advancements have improved the accuracy and ease of these devices, further boosting their adoption in point-of-care testing and remote diagnostics.

As healthcare systems in countries across Asia Pacific, Latin America, and Africa improve, there is further a growing need for affordable and efficient blood collection methods. Capillary blood collection devices offer a cost-effective solution, particularly in resource-limited settings. Furthermore, increased awareness about preventive healthcare and early diagnosis has led to a higher demand for routine blood testing.

Rising adoption of warming devices

Based on product type, the capillary blood collection devices market from the warming devices segment is likely to accelerate at a robust pace between 2024 and 2032.These devices improve blood flow, making the collection process faster and more efficient, especially in cold environments or for patients with poor circulation. By gently warming the collection site, they enhance capillary blood flow, reducing the chances of hemolysis and improving sample quality. The increased use of warming devices in healthcare settings is also driving the demand for capillary blood collection devices due to their ability to improve patient comfort and sample accuracy.

Cholesterol testing to gain traction

In terms of application, the capillary blood collection devices market from the cholesterol testing segment is anticipated to witness substantial expansion from 2024 to 2032 due to the rising demand for quick, minimally invasive testing methods. Capillary blood collection offers a convenient alternative to traditional venous sampling, allowing rapid cholesterol testing, particularly in point-of-care and home-based settings. As more individuals seek regular monitoring of cholesterol levels to manage heart disease risks, the need for easy-to-use and reliable testing devices has increased. The ability to perform cholesterol tests with a simple fingerstick enhances patient compliance.

Asia Pacific to emerge as a lucrative market

Asia Pacific capillary blood collection devices market is estimated to attain substantial valuation by 2032 driven by the increasing prevalence of chronic diseases, such as diabetes and cardiovascular conditions, which require frequent blood testing. Rising healthcare awareness and government initiatives to improve diagnostic infrastructure in countries like China, India, and Southeast Asian nations are also boosting the product demand. The growing adoption of point-of-care testing and home healthcare, coupled with advancements in minimally invasive technologies, has also spurred the use of capillary blood collection devices in APAC.

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Capillary Blood Collection Devices Market Participants

Some of the prominent capillary blood collection devices industry players include Abbott Laboratories, Roche Diagnostics, Becton, Siemens Healthineers, Cardinal Health, Dickinson and Company, AG & Co., Terumo Corporation, Greiner Bio-One International GmbH, Medtronic plc, and Radiometer Medical ApS. These firms are working on collaborations, acquisitions, and mergers to widen their product portfolio.

For instance, in July 2022, Rhinostics unveiled the patent-pending VERIsticTM Collection Device, designed for small volume blood collection.

Partial Table of Contents (ToC) of the report:

Chapter 1 Methodology & Scope

1.1 Market scope & definitions

1.2 Base estimates & calculations

1.3 Data collection

1.4 Forecast parameters

1.5 Data validation

1.6 Data sources

1.6.1 Primary

1.6.2 Secondary

1.6.2.1 Paid sources

1.6.2.2 Unpaid sources

Chapter 2 Executive Summary

2.1 Industry 3600 synopsis

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis

3.2 Industry impact forces

3.2.1 Growth drivers

3.2.1.1 Increasing prevalence of chronic diseases

3.2.1.2 Growing emphasis on point-of-care testing (POCT)

3.2.1.3 Technological advancements and product innovations

3.2.1.4 Rise in home healthcare and self-monitoring

3.2.2 Industry pitfalls & challenges

3.2.2.1 Limited blood volume for testing

3.2.2.2 Concerns regarding pain and discomfort

3.3 Growth potential analysis

3.4 Technological landscape

3.5 Porter's analysis

3.5.1 Supplier power

3.5.2 Buyer power

3.5.3 Threat of new entrants

3.5.4 Threat of substitutes

3.5.5 Industry rivalry

3.6 PESTEL analysis

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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