The new report by Expert Market Research titled, ‘Global Venipuncture Procedure Analysis Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global venipuncture procedure analysis market, assessing the market based on its segments like success rates, vein types, end users, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 864.2 Million
- Forecast CAGR (2021-2026): 5.66%
- Forecast Market Size (2026): USD 1,139.60 Million
The growth in the global market for venipuncture procedure analysis can be associated with the prevalence of blood sampling procedure for various purposes across numerous healthcare institutes. Blood collection is done for the detection of chronic diseases like cancer or diabetes, presence of viral fever like malaria or dengue fever, and to check the level of hemoglobin, red blood cells, and white blood cells in the blood. In addition to this, blood collection is the most fundamental step followed during a medical procedure which is a key driving factor for the growth of venipuncture procedure analysis. Furthermore, robust training sessions educating healthcare staff for the use of venipuncture procedure to reduce patient pain and anxiety and eliminate the risk of needlestick injury are further accentuating the market growth.
Industry Definition and Segmentation
Venipuncture refers to a procedure in which a needle is used to extract blood from a vein for laboratory testing and analysis. Venipuncture procedure analysis is usually the primary step for any medical procedure and the blood is usually collected with the help of needles which is then stored in a test tube for further analysis.
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The market, based on success rate, can be divided into:
- Total Venipuncture
- Successful Venipuncture
Based on vein type, the market can be categorised into:
- Median Cubital Vein
- Cephalic Vein
- Basilic Vein
On the basis of end user, the market can be segmented into:
- Hospital (Public and Private)
- Diagnostic Laboratories
- Physician Office/ Clinics
The regional markets for the product include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The market growth of venipuncture procedure analysis is projected to be augmented by the development of innovative technologies in venipuncture procedures to reduce patient pain and anxiety, eliminate the risk of needlestick injuries, reduce costs, and assist in enhanced decision making. Emphasis on prevention of injury and bloodborne pathogens is propelling leading market players to innovate technologies that ensure safe and pain free blood collection. As a result of robust research and development (R&D) in the medical and pharmaceutical sector, venous blood collection method is emerging as an optimal venipuncture procedure which is expected to drive the overall market growth over the forecast period.
Key Market Players
The major players in the market are AccuVein Inc., Smiths Medical, Inc., B. Braun Melsungen AG, Christie Medical Holdings, Inc, and TransLite LLC., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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