Phlebotomy Tubes Market: Global Sales, Ex-factory Price, Revenue, Gross Margin Analysis 2022
The procedure by which an incision is made in a vein is known as phlebotomy. The process is known as a venipuncture. Phlebotomist is a person who executes phlebotomy. However, doctors, medical laboratory scientists, and nurses often perform phlebotomy procedures as well. Phlebotomy is performed for various reasons such as medical testing, donations, research, and transfusions. The responsibility of a phlebotomist include identifying the patient, understanding the tests suggested by the physician, accurately identifying the site in the patient body, drawing blood into the proper tubes containing proper additives, correctly elucidating the process to the patients, preparing patients, working on the desired structures of asepsis, following customary and universal safety measures, reinstating hemostasis of the site, educate patients on post-prick care, fasten tubes with printed labels by electronic means, and making sure that the specimen is not contaminated before it reaches the laboratory.
Phlebotomy tubes market is likely to gain significant momentum in the near future, as the prevalence of diseases is increasing in addition to advancements in science and technology, diagnostic tests are the first choice of doctors before treating a patient. Therefore, patients undergo a number of tests before a treatment is started. The patient may or may not be ill, however, the test is performed in which a phlebotomy tubes are used. Phlebotomy tubes are used both for coagulation and anti coagulation blood tests. According to Velano Vascular’s estimation, in the U.S., nearly 800 blood draws are performed every minute. Each blood draw might be associated with multiple phlebotomy tubes. This creates a highly conducive environment for growth of the phlebotomy tubes market.
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As per the 2015 National Institute for Health and Clinical Excellence (NICE) guidelines, patients with type 1 diabetes should test their blood sugar levels at least 4 times per day. According to CDC National Diabetes Statistics Report, 2014, about 1.25 million Americans have type 1diabetes, out of which 20,000 are below the age of 20. According to The Juvenile Diabetes Research Foundation report, the number is estimated to touch 5 million by 2050. Therefore, there will be a demand of around twenty million phlebotomy tubes only in America. Hence, the growth of phlebotomy tubes market is evident.
Technological advancement and growing prevalence of phlebotomy in Asia Pacific will make phlebotomy tubes market potential high
According to WHO report, almost half the world’s population is at a risk of malaria, a disease that is diagnosed only through blood test which requires phlebotomy tubes. Advancement in science and technology has led the laboratories and diagnostic centers to opt for better machineries. However, the need for phlebotomy tubes is constant. Advanced machineries have propelled the demand for tests, thereby augmenting the demand for phlebotomy tubes. Moreover, medical practitioners are relying on blood tests of patients to avoid wrong treatment. Patients are increasingly being advised to perform regular blood tests for fatal diseases which do not show any symptoms until later, such as cancer and HIV/AIDS. This will fuel the overall phlebotomy tubes market.
Diabetes is a disease that requires constant monitoring of blood sugar levels. According to Asia Diabetes Prevention Initiative, around 60% of the world’s diabetic population resides in Asia. Countries such as India and China are home to a significant portion of the same population. India is known as the diabetic capital of the world. These patients needs constant monitoring of their blood glucose levels through venipuncture, thereby making the demand for phlebotomy tubes unavoidable. These factors will be responsible for high growth prospects of the global phlebotomy tubes market.
Some of the major competitors operating in the market are Ajosha BioTeklik Pvt. Ltd., Medical Expo, CML Biotech Pvt. Ltd., Gosselin, New MicroMed International Pvt. Ltd., Advacare Pharma, Greiner BioOne, and FL Medical.
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