Global Capillary Blood Collection Devices Market is expected to register a CAGR of 10.3%and is anticipated to reach USD 778.38 Million by 2027. Capillary blood collection devices are well-known technology within blood collection devices. Formerly, these capillary blood collection devices were used for diagnosis of the chronic disease, but nowadays, these capillary devices have wide-range applications. Despite the saturation in developed countries, the market for capillary blood collection devices in healthcare and life science is anticipated to grow.

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The increasing prevalence of diabetes, leading to high demand for lancets, favorable medical device regulation, and increasing geriatric population are the major drivers propelling the market growth. However, the risk associated with capillary blood assortment techniques and blood contaminations constrains the growth of the market.

Market Dynamics

The increase in the geriatric population expected to drive the growth of the market. For instance, according to the population reference bureau, the number of Americans aging 65 and older is projected to be more than double from 46 million in 2015 to over 98 million by 2060. Due to the damage or weakening of blood vessels in the geriatric population, capillary blood sampling devices are used so that minimal damage occurs.

Moreover, increasing prevalence of diabetes and growing demand for lancets has fueled the growth of the market. Additionally, favorable medical device regulations are likely to support market growth. On the other hand, the risks related to contamination due to the capillary blood assortment techniques is anticipated to hamper the market growth.

Segmentation

The global capillary blood collection devices market has been segmented into material, type of devices, and end-user. By material, the market has been segregated into plastic, glass, stainless steel, and others.

Based on the type of devices, the market has been divided into blood collecting tubes and collectors, lancets, warming devices, and others.

By end-user, the market has been classified as hospitals & clinics, diagnostic centers and pathology laboratories, home diagnostics, and others. The hospitals & clinics segment accounted for a market value of USD 190.36 million in 2019.

Key Players

The prominent players in the global Capillary Blood Collection Devices market are F. Hoffmann-La Roche AG, Danaher Corporation, Abbott Laboratories, Novo Nordisk AS, Becton Dickinson and Company, Medtronic PLC, B. Braun Melsungen AG, Thermo Fisher Scientific Inc., Terumo Corporation, Ypsomed Holding AG, HTL-STREFA SA, Sarstedt AG & Co, Owen Mumford Ltd, Greiner Bio-One, Improve Medical, and Chengdu Rich Science Industry Co., Ltd.

Some of the key strategies followed by the players operating in the global capillary blood collection devices market were innovation, product development, acquisition, and expansion.

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