Self-administered Blood Collection Devices Help Monitor Chronic Diseases amidst COVID-19 Scare
The concept of self-administered blood collection is becoming increasingly mainstream in the wake of the COVID-19 pandemic. For instance, Tasso Inc.- a medical equipment manufacturer in Seattle, has been successful in acquiring a funding of US$ 17 Mn to innovate in a push-button blood sampling device that does not require any training. Thus, companies in the capillary and venous blood sampling devices market are taking cues from such innovations to increase the availability of home blood testing devices. As such, home-based capillary and venous blood sampling devices are being used by individuals to administer any chronic or infectious diseases, as the COVID-19 scare continues to surge worldwide. This is driving the capillary and venous blood sampling devices market.
Small-volume Blood Collection Devices Create Incremental Opportunities for Med-tech Companies
Innovative sample handling and analytical technologies are being used in clinical studies in order to make diagnostic blood testing more accessible and convenient. Hence, companies in the capillary and venous blood sampling devices market are entering into strategic partnerships to improve clinical outcomes. For instance, the medical technology company, BD (Becton, Dickinson and Company), announced collaboration with transformative diagnostic blood testing company Babson Diagnostics to increase the availability of less expensive laboratory testing in a customer-friendly manner.
The development of innovative capillary and venous blood sampling devices is in the pipeline for med-tech companies. The goal is to increase the availability of laboratory-quality diagnostic testing through retail pharmacies. Hence, companies in the capillary and venous blood sampling devices market are increasing their R&D activities to innovate in small-volume blood collection devices that can be made available in urgent care centers and skilled nursing facilities.
Push-button Blood Collection Devices Overcome Limitations of Fingersticks
Companies in the capillary and venous blood sampling devices market are developing disposable blood collection devices that use capillary action that help to draw blood from tiny channels. A fingerstick is among the list of popular disposable blood collection devices found to show good results in HIV (Human Immunodeficiency Virus) clinical trials. However, the potential variation between droplets of blood during HIV viral load tests acts as a restraining factor, thus affecting the sales of fingersticks. Hence, companies are overcoming these obstacles by focusing on technologies that collect microliters of capillary blood.
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Seventh Sense Biosystems gained global recognition for its TAP device, which is a novel push-button blood collection device that uses a vacuum chamber to collect up to several microliters of capillary blood. Manufacturers in the capillary and venous blood sampling devices market are increasing efforts to develop devices with large volume capacities.
Moisture-tight Designs of Non-biohazardous Devices Improve Patient Outcomes
The demand for non-biohazard devices is surging in the diagnostic testing landscape. Hence, San Francisco-based med-tech company Spot On Sciences has introduced HemaSpot HF, which is an FDA-(Food & Drug Association) pending Class 2 Device, which, after the collection and transportation of blood microsamples becomes non-biohazardous after drying. Such innovations are bolstering the growth of the capillary and venous blood sampling devices market, which is estimated to reach a value of US$ 2.4 Bn by 2030.
Med-tech companies in the capillary and venous blood sampling devices market are increasing their research efforts to introduce unique absorbent collection matrixes in the cartridges of devices to prevent risks of bio-hazardous incidences. They are increasing focus in moisture-tight designs for capillary and venous blood sampling devices with tamper-evident latches so that the sample results remain uncompromised.
Finger-prick Devices Allow Self-management of Diabetes
Self-management is becoming increasingly important in the healthcare sector, especially for chronic diabetic patients. Self-diagnosis and patient empowerment has led to decline in costs for both doctors as well as patients, whilst improving patient independence. As such, the growing number of diabetic patients worldwide has been a key driver for growth of the capillary and venous blood sampling devices market, which is predicted to expand at a healthy CAGR of ~7% during the forecast period. Thus, unfavorable health outcomes due to diabetes such as kidney impairment and peripheral neuropathy have increased the demand for blood draws in laboratory settings.
Regular doctor visits and frequent lab tests can be potentially inconvenient for diabetic patients. Hence, manufacturers in the capillary and venous blood sampling devices market are increasing their production capabilities to develop finger-prick devices that help patients to draw blood by themselves.
Cost & Time Efficiency of Microsampling Techniques Enhance Patient Quality of Life
Microsampling is a prominent trend in the capillary and venous blood sampling devices market. Its minimally invasive attributes are catalyzing the demand for innovative capillary and venous blood sampling devices. Positive growth factors such as advancements in molecular detection techniques have further popularized microsampling. Thus, microsampling is becoming increasingly commonplace in point-of-care (POC) devices.
Companies in the capillary and venous blood sampling devices market are becoming increasingly aware about the limitations of conventional blood sampling approaches such as biomarker detection. Hence, manufacturers are turning toward microsampling techniques to improve patient quality of life. Since conventional blood collection techniques, such as phlebotomy involve the use of invasive needles and catheters, healthcare professionals have raised a demand for non-invasive techniques including microsampling. Though phlebotomy is considered as the gold standard for blood sampling, manufacturers are focusing on microsampling to reduce the cost and time-consuming efforts associated with phlebotomy capillary and venous blood sampling devices.
Manufacturers in the capillary and venous blood sampling devices market are increasing their focus to develop COVID-19 rapid test kits that are suitable for qualitative detection of the novel coronavirus using finger-prick samples. Companies are increasing efforts to innovate in small volume blood collection devices that are being made available for retail pharmacies. However, conventional blood sampling techniques such as phlebotomy are potentially time-consuming and costly for healthcare facilities. Hence, companies should develop capillary blood microsampling systems to help overcome the obstacles of traditional blood sampling techniques. They should also gain proficiency in the development of non-biohazardous devices that deliver uncompromised results.
Capillary and Venous Blood Sampling Devices Market: Overview
Capillary blood collection is a useful technique to collect blood in children and infants. Capillary blood collection requires a very small amount of blood for disease diagnosis. Capillary blood collection is simple and relatively painless.
Venous blood (venipuncture) is the specimen of choice for most routine laboratory tests; most laboratory reference ranges are based on venous blood. The benefits of these venous blood collection devices are that they offer the exact filling volume.
The global capillary and venous blood sampling devices market has experienced significant expansion in the last decade due to rise in demand for blood collection & transfusions and an increase in prevalence of diabetes
Different types of devices are utilized in capillary blood sampling, including microsampler devices, lancets, blood collection strips, and tubes. Venous blood sampling devices include vacutainer system and tubes.
Capillary and Venous Blood Sampling Devices: Market Drivers
Rise in demand for blood collection and transfusions drives the demand for capillary and venous blood sampling devices. Large number of patients undergo surgical procedures and suffer from chronic diseases such as aplastic anemia, sickle cell anemia, leukemia, and traumatic injuries each year. Therefore, demand for collection, grouping, and transfusion of blood and blood components is high globally. According to the American Cancer Society, an estimated 61,780 new cases of leukemia were reported in the U.S. alone in 2019.
Increase in prevalence of diabetes is expected to drive the global capillary and venous blood sampling devices market during the forecast period. Diabetes is a major chronic disease in the world and blood glucose test is the primary mode of diagnosis of this disease. According to the International Diabetes Federation, 422 million people worldwide were living with diabetes in 2016, and it is projected that over 10% of the world’s adult population (642 million) would have diabetes by 2040.
Market Segmentation: Capillary and Venous Blood Sampling Devices Market
In terms of product type, the global capillary and venous blood sampling devices market has been divided into capillary blood collection devices and venous blood collection devices. The capillary blood collection devices segment has been further sub-segmented into microsampler devices, lancets, blood collection strips, and tubes. The venous blood collection devices segment has been further classified into vacutainer system and tubes. The venous blood collection devices segment is likely to dominate the global capillary and venous blood sampling devices market during the forecast period.
Based on application, the global capillary and venous blood sampling devices market has been classified into capillary blood collection devices, which has been sub-segmented into point-of-care testing and central laboratory testing, and venous blood collection devices, which has been further bifurcated into point-of-care testing and central laboratory testing.
In terms of end user, the global capillary and venous blood sampling devices market has been categorized into hospitals, clinics, diagnostics laboratories, blood banks, and home care. The hospitals segment dominated the global capillary and venous blood sampling devices market, in terms of revenue, in 2019.
Each of the segments has been analyzed in detail for market trends, recent trends, and developments, drivers, restraints, opportunities, and useful insights. The report provides current and expected revenue (US$ Mn) for each of these segments from 2018 to 2030, considering 2019 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2020 to 2030, along with market size estimations.
Regional Overview: Capillary and Venous Blood Sampling Devices Market
In terms of region, the global capillary and venous blood sampling devices market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been further divided into major countries and sub-regions.
The current and expected market value (US$ Mn) of these regional markets and their major countries have been provided in the report from 2018 to 2030, with their CAGRs from 2020 to 2030
The study also offers a list of recommendations, highlights, and useful insights of the global capillary and venous blood sampling devices market, which would help new companies willing to enter the market and existing companies to increase market shares, and help in the decision-making process
The capillary and venous blood sampling devices market report concludes with the company profiles section, which includes key information about major players in the global capillary and venous blood sampling devices market
Leading players analyzed in the capillary and venous blood sampling devices market report include
Each of these players has been profiled in the capillary and venous blood sampling devices market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments
Key Questions Answered in Capillary and Venous Blood Sampling Devices Market Report
Capillary and Venous Blood Sampling Devices Market – Segmentation