The blood collection tubes market is projected to grow at a CAGR of 6.68 % to reach US$2.162 billion by 2025, from US$1.467 billion in 2019. Plastic or glass tubes that are used to collect blood specimens for testing are globally known as blood collection tubes. They are equipped with a vacuum space that is enables drawing of a blood to an exact volume from a patient. The closures are color coded for the convenience of the lab technicians who use it as distinguishing markers for various types of tests. They are one of the essential diagnostic tools that are ubiquitously used as a process for lab testing. Its ability to provide precision with accuracy a long with ease of use and safety enable the efficiency of the entire diagnostic prosses. Clot activators coated with water soluble polymer is what the blood collection tube coated with.
The process of acquiring blood samples from a patient for a myriad of reasons among which conducting pathological tests as prescribed the doctor in certain cases may out of one’s interests (for example a food allergen test is one that can be executed at one owns discretion) require the use of blood collection tube. Further, this is indispensable for in-patient care in a hospital due to constant monitoring of patients post any major surgeries for patients who are on the mend. Moreover, the rising number of diseases, gowning number of accidents that result from behavior risks, road accidents and cases that need urgent blood transfusion necessitates the profusion of blood collection tubes. Furthermore, from a regional perspective both the APAC and the MEA is becoming a hub of medical tourism during recent times. With respect to UAE, medical tourism has had a profound impact on healthcare. The main driving force behind such marked shift visible in the tourism sector, consequently the healthcare sector of UAE is the special emphasis on the same since 2014 when His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council approved the Dubai Health Tourism Strategy, with Dubai Health Authority (DHA) overseeing its execution.Thus, in order to position Dubai as a globally recognized destination for elective health and wellness treatments, the Health Tourism Council- DHA was formed. Furthermore, the number of overseas patients was 1,207 during the year of 2018. The UK sought overseas treatments by the highest proportion of patients (28.3%), followed by German (25.9%), then followed by Thailand (15.8%) Then USA (6.9%). In the first place, Oncology Treatments were sought by (25.4%) of the total overseas patients. Orthopedic surgery sought by (10.8%), after that, ophthalmology 7.6%, and neurology & neurosurgeries were responsible for 6.7% of cases treated overseas, respectively. The average cost was 274.3 thousand Dirhams per patient. [Source: Dubai Annual Health Statistical Report].Considering the growth of medical tourism thus the influx of patients from foreign countries, the need for efficient medical administration necessitates the upkeep of all the prerequisites for a sound debacle free experience. This among others blood collection tubes are of paramount importance and being an integral part, it is poised to witness a healthy growth during the forecast period. Further in the USA between 2016 to 2018 there were 1,938,098 deaths registered due to heart diseases followed by 1,796,420 death due to Malignant Neoplasms [National Center for Health Statistics (NCHS), National Vital Statistics System]. Further the below depiction gives birds eye view of the quantum of treatment required that necessitated the use of blood collection tube. In 2017, the number of deaths due to Enterocolitis from C. difficile which is often acquired in hospitals or other health care facilities with long-term patients or residents was 6,118.
Moreover, in 2018 number of cases pertaining to TB were9,025. In case of Hepatitis, the number of acute infections reported in 2017 were, 3366 for Hepatitis A, 3,409 for Hepatitis B, 3216 for Hepatitis c. Further with regards to National Health Expenditures, under current law, national health spending is projected to grow at an average rate of 5.5 percent per year for 2018-27 and to reach nearly $6.0 trillion by 2027. Health spending is projected to grow 0.8 percentage point faster than Gross Domestic Product (GDP) per year over the 2018-27 period; as a result, the health share of GDP is expected to rise from 17.9 percent in 2017 to 19.4 percent by 2027. As a result of comparatively higher projected enrollment growth, average annual spending growth in Medicare (7.4 percent) is expected to exceed that of Medicaid (5.5 percent) and private health insurance (4.8 percent). The Medicare enrollment impacts are the key reason the share of health care spending sponsored by federal, state, and local governments is expected to increase by 2 percentage points over the projection period, reaching 47 percent by 2027. Lastly the insured share of the population is expected to remain stable at around 90 percent throughout 2018-27 [Source: Centers for Medicare & Medicaid Services]. Thus, for the aforesaid clearly delineates the future prospects of medical expense as whole in the US. Therefore, with diagnostics covering a significant share of the medical treatment of the country, the demand for blood collection tube is certainly poised to surge during the forecast period.