Capillary and Venous Blood Collection Devices Market

COVID-19 Impact AnalysiS

COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020. 

Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for vaccines and treatment drugs for COVID-19. 

With COVID-19, the supply chain of the material required to manufacture capillary and venous blood collection devices has been disrupted in many countries. In addition, the market growth of capillary and venous blood collection devices is declining, as the manufacturers of these devices have slowed down their production due to the pandemic. Therefore, COVID 19 is expected to have a significant impact on the capillary and venous blood collection devices market.

Top Impacting Factors

• Increasing incidence of many chronic infections in humans is the major factor driving the growth of the capillary and venous blood collection devices market. Thus, the number of blood tests done every year globally is rising, which, in turn, is contributing toward the market growth. 
• Capillary blood drawing techniques are minimally invasive, and blood is not required in the process. They are mostly used in hospitals for checking the level of glucose in the blood. The minimally invasive nature of such blood collection devices has boosted the market growth.
• In addition, many people get routine work done every year for a complete body check-up. In such tests, capillary and venous blood collection devices are often used. Hence, this factor has is expected to propel the growth of the market.
• However, lack of awareness regarding the safe use of capillary and venous blood collection devices in medical professionals is one of the factors that impede the market growth.

Key Market Trends

In 2017, VacutteEspana and Vacuette Portula were acquired by Greiner Bio-One International GmbH. This acquisition was done to strengthen the distribution and commercial network of Greiner Bio-One International’s blood collection products.

The hospital segment holds the major share of the capillary and venous blood collection devices market, owing to increasing number of diagnostic testing and surgical procedures done there. Blood work is often done before any major surgery. 

North America dominates the capillary and venous blood collection devices market. This can be attributed to the region's increasing diabetic population who gets multiple blood tests done throughout the year.
Asia-Pacific is expected to show lucrative growth during the forecast period, owing to rise in the number of surgical procedures done in this region, as these procedures create a demand for blood sampling, which requires capillary and venous blood collection devices.
 

Key Benefits of the Report

• This study presents the analytical depiction of the capillary and venous blood collection devices industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the capillary and venous blood collection devices market share.
• The current market is quantitatively analyzed to highlight the capillary and venous blood collection devices market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Capillary and Venous Blood Collection Devices Market Report

• Which are the leading players active in the capillary and venous blood collection devices market?
• How is each segment of the market expected to grow during the forecast period?
• What are the adoption trends for the capillary and venous blood collection devices market in emerging economies and established economies across the world?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What future projections would help in taking further strategic steps in the market?
• What are the impacts of COVID-19 on the industry?
• What are capillary and venous blood collection devices?