Vacutainer is a blood collection tube that uses vacuum pressure to collect the blood from the vein. The tube is available in the form of a glass tube and plastic tube. The tube has various color codes corresponding to their uses. For instance, light blue color code tube is used for activated partial thromboplastin time, prothrombin time, fibrinogen thrombin time and other blood coagulation tests. Rising health awareness across the globe leads to regular body checkup. Blood testing is the primary testing in the body checkup. Hence, rising health awareness results in increasing use of vacutainer for blood testing such as blood coagulation testing. Additionally, increasing blood sugar testing due to the increasing geriatric population across the globe is boosting the overall growth of the market. There are some limiting factors for the market such as to cause pain during withdrawal of the needle from the vein, high initial investment and high entry barriers in the operating market. Moreover, increasing use of yellow colored code vacutainer for research and blood bank studies and government initiatives for developing healthcare infrastructure has been supplementing the overall growth of the vacutainer market.According to AMA, the market for Vacutainer is expected to register a CAGR of 3.02% during the forecast period to 2024. This growth is primarily driven by Rising Health Awareness results in an Increasing use of Vacutainer for Blood Testing such as blood Coagulation Testing and Increasing Blood Sugar Testing due to Increasing Geriatric Population across the Globe.
Globally, a noticeable market trend is evident Increasing Use of Yellow Colored Code Vacutainer for Research and Blood Bank Studies. Major Players, such as Becton, Dickinson and Company (United States), Terumo Corporation (Japan), Medtronic (Ireland), Sekisui Chemical Co., Ltd. (Japan), SARSTEDT AG & Co. KG (Germany), FL medical (Italy), Narang Medical Limited (India), Improve Medical (China), Hongyu Medical (China) and Sanli (Singapore) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On December 2017, Becton, Dickinson, and Company (the global leader in a medical technology company) had acquired C. R. Bard, Inc. in about USD 16 billion. The main aim of the acquisition is to improve both the treatment of disease for patients and the process of care for health care providers
According to FDA Regulation of Blood and Blood Components in the United States, Within the Office of Blood, several NDA applications are reviewed each year, mostly involving solutions used for the collection of blood, such as anticoagulants and red cell nutritive solutions.
- Rising Health Awareness results in an Increasing use of Vacutainer for Blood Testing such as blood Coagulation Testing
- Increasing Blood Sugar Testing due to Increasing Geriatric Population across the Globe
- Increasing Use of Yellow Colored Code Vacutainer for Research and Blood Bank Studies
- High Initial Investment and High Entry Barriers in the Operating Market
An Upsurge in Number of Blood Transfusion Activities and Government Initiatives for Developing Healthcare Infrastructure
Causes Pain during Withdrawal of Needle from the Vein and Intense Competition among Established Players
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