Wednesday, 09 October 2024 09:30 AM
Company Update
The Northeast U.S. phlebotomy equipment market is set to grow at a 4.8% CAGR, reaching USD 1.2 billion in 2024. Key factors include renowned medical institutions and high demand from dense healthcare facilities.
NEWARK, DE / ACCESSWIRE / October 9, 2024 / As per latest analysis, the United States phlebotomy equipment industry is set to be valued at USD 4.2 billion in 2024. Overall sales of phlebotomy equipment in the nation will likely rise at 3.3% CAGR during the forecast period, totaling USD 5.8 billion by 2034.
Demand for phlebotomy supplies is expected to grow at a higher CAGR of 3.9% during the forecast period. This is due to their indispensable role in facilitating safe, efficient, and standardized blood collection procedures essential for diagnostic and therapeutic purposes in healthcare settings.
Multiple factors are expected to drive growth of the phlebotomy equipment industry in the United States during the next ten years. These include rising prevalence of chronic diseases, increasing demand for blood tests, and innovation in phlebotomy devices.
Amid rising incidence of chronic diseases like diabetes across the United States, there is a surging demand for blood tests for diagnostic and treatment purposes. This will likely create a need for reliable and efficient phlebotomy equipment nationwide.
Growing interest in preventive healthcare is another key factor expected to boost phlebotomy equipment sales in the United States through 2034. Similarly, rise in blood donation camps will likely propel phlebotomy equipment demand during the assessment period.
Significant trends, including automation and the integration of medical devices, are propelling the industry into a maturity phase. Automation, particularly in blood collection processes, streamlines procedures, mitigates manual errors and reduces variability and sample loss.
Innovative technologies such as robotic venipuncture systems contribute to increased efficiency by standardizing protocols and shortening the time required for blood collection. This heightened efficiency enhances patient throughput and optimizes resource utilization within healthcare facilities.
The integration of phlebotomy equipment with digital health platforms and Electronic Health Record (EHR) systems marks a pivotal development. By capturing patient data in real-time, healthcare providers ensure the availability of accurate and up-to-date information for authorized professionals.
Key Takeaways from the Report:
The phlebotomy equipment industry revenue in the United States is set to total USD 5.8 billion in 2034.
Based on product, the phlebotomy supplies segment is expected to grow at a CAGR of 3.9% through 2034.
In terms of usage, the disposable devices segment will likely account for a value share of 66.1% in 2024.
By end-users, the hospitals segment is estimated to hold 25% of the United States phlebotomy equipment industry share in 2024.
Northeast United States is expected to remain the most lucrative pocket for phlebotomy equipment manufacturers, exhibiting a CAGR of 4.8%.
"Rising awareness regarding the advantages of monitoring blood profile regularly and surge in blood donation across the United States are anticipated to uplift demand for phlebotomy equipment during the forecast period," opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Who is Winning?
Cardinal Health, BD, Terumo Corporation, SARSTEDT AG & Co. KG, Medline Industries, LP., Heathrow Scientific, Marketlab, Kawasumi Laboratories America, United Metal Fabricators, Inc., Hill Laboratories Company, Clinton Industries, Inc., Brandt Industries, B. Braun Medical Inc., NIPRO, and STRECK are few leading phlebotomy equipment manufacturers listed in the report.
Key players are constantly innovating to develop safe and efficient phlebotomy products. They are also showing inclination towards employing strategies like partnerships, collaborations, acquisitions, and distribution agreements to stay ahead of the competition.
Recent Development:
In December 2023, Becton, Dickinson, and Company (BD) received 510(k) clearances from the US Food and Drug Administration (FDA) for its latest fingertip blood collection tool, the BD MiniDraw Capillary Blood Collection System.
Accelerated Market Demand: Find Comprehensive Insights and Trends in Our Full Report!
https://www.futuremarketinsights.com/reports/phlebotomy-equipment-industry-analysis-in-the-united-states
United States Phlebotomy Equipment Industry Segmentation:
By Product:
Phlebotomy Supplies
Syringes
Blood Collection Needles
Blood Draw Trays
Evacuated Collection Tubes
Tourniquets
Non-sterile Gloves
Scrubs
Gauze or Bandages
Blood Safety Lancets
Alcohol Pads
Phlebotomy Carts
Phlebotomy Cabinets
Phlebotomy Chairs
Phlebotomy Tables
By Usage:
Disposable Devices
Reusable Devices
By End-user:
Hospitals
Ambulatory Surgical Centers
Diagnostic Laboratories
Skilled Nursing Facilities
Long Term Care Centers
Specialty Clinics
Blood Banks
Home Healthcare Providers
Others
By Region:
Northeast United States
Midwest United States
Southeast United States
Southwest United States
West United States
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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