europe blood collection devices Market

The Europe blood collection devices market is expected to reach US$ 4,089.33 million by 2027 from US$ 2,662.12 million in 2019; it is estimated to grow at a CAGR of 5.6% from 2020 to 2027.

The blood collection devices marketis growing primarily due to growing number of accidents and trauma cases, rising incidence of infectious diseases, and risingcancer ratein the Europe region. Factors such as risks associated with the blood collection devices damage the growth of the market. Additionally, technological developments in blood collection techniques and productsandincreasing government initiatives for blood safetyare likely to fuel the growth of the blood collection devices marketduring the forecast period.

Blood collection devices help in safe withdrawal of blood from the donor to perform various diagnostic tests. Needles & syringes, lancets, and other devices are used for arterial and venous blood collection. Arterial blood collection has various advantages such as arterial blood gas sampling, and intraoperative blood salvage.
In the UK,there are four national blood services namely NBS, SNBTS, NIBTS, and WBS. The regulations retain the term blood bank for the laboratories within hospitals that hold, match, and supply blood components to individual patients. Working toward universal access to safe blood and blood products is a part of WHO's cooperation with governments to ensure people-centered health systems that are universal, equitable, sustainable, of high quality, and one of the four policy priorities as of Health 2020, the European health policy framework. WHO/Europe works with national health authorities and international stakeholders and partners for blood-service reform, the development of national donor programmes, quality management of services and products, evidence-based transfusion therapy, enhanced information sharing and the dissemination of WHO guidelines and recommendations promoting the health-system approach. As a participant in the WHO global database on blood safety, WHO/Europe collects data on blood services in the European region to document achievements and reassess strategic directions. These safety strategies implemented by government drives the blood collection devices market in Europe.

TheCOVID-19 outbreak has badly affected the countries such as Italy, Spain, Germany, France, and the UK. Blood donation saves lives and it is majorly required by European countries amidst the COVID-19 pandemic. Majority of the healthcare research institutes and pharmaceutical companies are stepping forward to discover a therapeutic solution for the disease. Companies are now focusing on the development of the antibody-specific COVID-19 blood test. The rising number of blood tests performed for COVID-19 diagnosis is likely to boost the demand for blood collection devices in the region.

Based on product, the blood collection devices market is segmented into blood collection tubes, blood collection needles/holders, blood collection sets, and others. In 2019, the blood collection needles/holders segment accounted for the largest share of the blood collection devices market. The growth of this segment attributes to the high adoption of the products in various medical diagnostic and treatment procedures. On the other hand, blood collection tubes are anticipated to witness fastest growth in the market owing to rising number of diseases that demands multiple blood-testing methods and technological advancements in blood collection tubes.

World Health Organization (WHO), National Institute of Health (NHS), National Blood Authority (NBA), World Bank, and European Liquid Biopsy Society (ELBS) are a few of the significant secondary sources associated with the Europe blood collection devices market.