Capillary Blood Collection Devices Market Trend, Opportunity, and Forecast Analysis, 2024-2032

Capillary Blood Collection Devices Market Highlights

The global capillary blood collection devices market is expected to cross a value of USD 4.30 billion by the end of 2032. The market was valued at USD 1.92 billion in 2023 and is expected to expand at a CAGR of 9.7% between 2024-2032.

• Over the mid-term, the growing availability of PoC diagnostics is the primary factor anticipated to drive the global capillary blood collection devices market.
• The concern for inaccurate results is a major factor to challenge the market growth.
• The North America capillary blood collection devices market is projected to dominate the global market.

Capillary Blood Collection Devices Market Outlook

The medical tools that are used to obtain small blood samples from capillaries in the human body is known as capillary blood collection device. These devices collect blood through a minimally invasive procedure and the drawn blood is collected in a container, such as capillary tube or a collection pad.

According to our researchers at KD Market Insights, one of the primary factors associated with the growth of the global capillary blood collection devices market is the growing availability of point-of-care (PoC) diagnostics worldwide. Our researchers have found that the revenue generated from the point of care diagnostics is expected to grow with a CAGR of about 9% during the forecast period, and generate a revenue of about USD 50 Billion in the year 2023. The preference for point-of-care testing in various healthcare settings is therefore expected to drive the demand for capillary blood collection devices, further contributing to the market growth. Becton, Dickinson and Company (BD), Greiner Bio-One International GmbH, SARSTEDT AG & Co. KG are some of the significant parties in the global market for capillary blood collection devices.

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Capillary Blood Collection Devices Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the global capillary blood collection devices market are:

• Growing Prevalence of Chronic Diseases: The prevalence of chronic diseases, such as, diabetes, cardiovascular diseases, and infectious diseases are increasing worldwide. According to the statistics by the World Health Organization (WHO), 17 million people died from a noncommunicable diseases (NCDs) before the age of 70 years. With the increasing prevalence of chronic diseases globally, the demand for capillary blood collection devices for convenient and minimally invasive sample collection would grow, which is projected to drive the growth of the global capillary blood collection devices market during the forecast period.
• Expanding Healthcare Infrastructure Globally: Supported by a growing healthcare expenditure worldwide, the healthcare infrastructure is developing at a rapid pace. Emerging economies are witnessing an increasing adoption of advanced medical equipment and devices, such as capillary blood collection devices, to promote the affordability and access to healthcare diagnostic services and other healthcare solutions. This focus of the government of countries globally in the expansion of their healthcare infrastructure is therefore expected to contribute to the growth of the market during the forecast period.

Which Probable Factors Could Hamper the Growing Capillary Blood Collection Devices Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of capillary blood collection devices are:

• Lower Sample Volume Collection Capabilities: The sample collection capability of capillary blood collection devices is usually very less when compared to venous blood collection methods. This, as a result, limits the types of tests that can be performed using the same sample. Due to this factor, the phlebotomists often prefers using venous method of blood collection, which is anticipated to hamper the market growth.
• Concern for Inaccurate Results: It has been observed that by utilizing capillary blood collection devices, the reliability on the test results were concerning. This was majorly due to inadequate training or improper techniques in blood collection procedures that resulted in variability in sample quality, and thus, the inaccurate test results. Such concerns are therefore expected to restrict the market growth.

How is the Global Capillary Blood Collection Devices Market Segmented?

Our experts at KD Market Insights have segmented the global capillary blood collection devices market as:

What are the Probable Factors Influencing the North America Capillary Blood Collection Devices Market Forecast?

The North America capillary blood collection devices market is majorly driven by the expanding geriatric population in the region, and the presence of several capillary blood collection devices manufacturers. The elderly population in the region often require frequent blood testing for monitoring chronic conditions and age-related health issues, in turn, driving the market growth in the region. Further, the availability of a strong healthcare network in the region, supported by supportive regulatory policies, are some of the additional factors projected to create numerous opportunities for the market growth during the forecast period.

As per our analysts at KD Market Insights, the following five players lead the North America capillary blood collection devices market growth:

• Abbott Laboratories
• Becton, Dickinson and Company (BD)
• Roche Diagnostics
• Terumo Corporation
• QIAGEN

Which Key Players Top the Global Capillary Blood Collection Devices Market Share?

As per our analysts at KD Market Insights, the competitive landscape of global capillary blood collection devices market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with capillary blood collection devices market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global capillary blood collection devices market share:

• Becton, Dickinson and Company (BD)
• Greiner Bio-One International GmbH
• SARSTEDT AG & Co. KG
• Terumo Medical Corp.
• B. Braun Melsungen AG
• Improve Medical
• Abbott Laboratories
• Cardinal Health

What are the Recent Developments Observed in the Capillary Blood Collection Devices Market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with global capillary blood collection devices market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaboration.

• Abbott stated that it has announced its next generation capillary blood collection device that would improve patient experience and sample quality. The new device includes new features such as enhanced safety mechanisms and user friendly design, reinforcing Abbott’s promise to advancing healthcare solutions.
• Becton, Dickinson and Company (BD) stated that it has received governing approval for its latest capillary blood collection system aiming a significant step in the company’s efforts to enhance patient care and diagnostic capabilities