Vacutainer Market Is Forecasted to Grow at A CAGR of Over 7% During 2021-2031

Rise in demand for serologic analysis and biopsy is evident due to high prevalence of numerous chronic diseases in the geriatric population. Changing demographics (ageing population) across developed regions is the requirement for medical equipment & devices at healthcare centres. Vacutainer manufacturers are concentrating on improving shelf life and production output to cater the growing market demand, globally. Increase in liquid biopsy analysis for non-invasive diagnostic applications and growing importance of pre-donation screening in blood transfusion are key enablers driving demand for vacutainers (vacuum-based blood collection tubes).
At present, North America holds the largest (over 50%) revenue in the global vacutainer market, owing to well-established healthcare facilities in the region since decades, especially in United States. As per the report published by Fact.MR, the global vacutainer market is anticipated to exceed a valuation of US$ 2.4 Bn by 2021, and is expected to expand at an impressive CAGR of more than 7% over the forecast period of 2021 to 2031.

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Key Takeaways from Market Study

• In 2020, one-half of market revenue was generated solely by North America.
• Vacutainers with additives account for more than 80% of global sales, and are utilised at large in North America.
• In 2020, North America and Europe together accounted for three-fourth global market share. The European market is expected to offer more than US$ 440 Mn absolute dollar opportunity over the next ten years.
• The market is highly concentrated in nature, with companies such as Becton, Dickinson & Company and Medtronic PLC holding around 33% of the global market share.
• In terms of buyer, hospitals and clinics held around 38% of overall market share in 2020.
• Application in venous blood collection amounts for over 65% overall demand.
• The market in East Asia is projected to expand at a CAGR of around 11% throughout 2021-2031, while that in China at 14.5%.

Key Market Segments Covered

By Additive
• Vacutainers Without/No Additives
• Vacutainers With Additives
• Sodium Citrate
• Gel+ BCA
• Sodium Heparin
• Lithium Heparin
• EDTA Tubes
• Fluoride Oxalate
• Acid-citrate-dextrose
• EDTA + Gel
• By Application
• Vacutainers for Venous Blood Collection
• Vacutainers for Capillary Blood Collection
By Buyer Type
• Vacutainers Used by Research Laboratories
• Vacutainers Used by Hospitals and Clinics
• Vacutainers Used by Diagnostic Chains
• By Material
• Plastic (PET) Vacutainers
• Glass Vacutainers
By Region
• North America
• Latin America
• Europe
• MEA
• East Asia
• South Asia
• Oceania

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Winning Strategy
Advancements in technology related to medication and new ways of drawing blood for biopsy are likely to impact the current medical equipment market in the near future. Devices such as Velano Vascular's PIVO, which provided a new approach to draw blood and made it easier to avoid acute pain through its needle-less blood drawing system, are the future of blood drawing systems. Owing to the needs of end users, innovation in vacutainers that allow an individual to collect blood (with less penetration of needles) without the support of doctors or clinical staff can be a key winning strategy for manufacturers.

Competitive Landscape

Majority of the companies discussed in the report have focused on establishing subsidiaries in developing regions. Strategies include product launches, collaborations with key players, partnerships, acquisitions, and strengthening of regional and global distribution networks. Some of the key development are:
• In February 2020, Becton, Dickinson, and Company announced a long-term strategic partnership with Babson Diagnostics to bring laboratory-quality, small-volume blood collection to retail pharmacies.
• In August 2020, Greiner Bio-One collaborated with Haematologic Technologies to provide complete development and manufacturing of customized blood collection tubes for IVD and clinical diagnostic device developers.
• In December 2019, Medtronic PLC and ChristianaCare collaborated to improve patient outcomes and reduce the cost of care in Delaware. The five-year agreement will focus on developing and deploying value-based healthcare initiatives with shared financial accountability.

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Report Summary
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of vacutainers across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of vacutainers during the forecast period. Price point comparison by region with global average price is also considered in the study.

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