The global acid citrate dextrose tubes market is poised for substantial growth, with projections indicating it will generate a revenue of USD 784 million by 2032, showcasing a 5% Compound Annual Growth Rate (CAGR) from 2022 to 2032. The market, which is estimated to reach a value of USD 481 million in 2022, is primarily driven by the escalating demand for blood component storage in blood banks, hospitals, and clinics to mitigate blood component contamination risks.
Key factors fueling this expansion include the rising global geriatric population and the surge in infectious diseases worldwide. Additionally, the increasing demand for diagnostic tests is expected to further propel market growth in the forecast period.
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“Notably, the heightened awareness about healthcare measures to prevent disease transmission and the significant investments in Research and Development (R&D) activities by major players, such as F. Hoffmann-La Roche Ltd., with a staggering US$ 9.27 Billion investment in 2019, are anticipated to foster market expansion,” commented FMI.
Moreover, the evolving economies of regions like China, India, and other Southeast Asian countries are poised to make substantial contributions to market development. Factors such as the rise in infectious diseases, increasing product approvals, and the expanding geriatric population are driving the rapid growth of these regional markets.
The acid citrate dextrose tubes market presents promising opportunities for stakeholders, including manufacturers, healthcare providers, and investors, to capitalize on the burgeoning demand for blood component storage solutions and diagnostic tests. As the market continues to evolve, innovative approaches and strategic collaborations will be instrumental in sustaining growth and meeting the evolving needs of the healthcare sector.
The factors driving the Acid Citrate Dextrose Tubes Market:
- Increased demand for blood transfusions: This is due to a rise in factors like road accidents, surgeries, and blood-related disorders.
- Growing awareness about blood safety: Public health campaigns are making people more aware of the importance of safe blood transfusions.
- Need for blood storage: Blood banks need ACD tubes to store blood and blood components effectively.
- Complications from contaminated blood: ACD tubes help reduce the risk of contamination during blood transfusions.
- Research and development in blood-related diseases: This can lead to the development of new treatments that require blood transfusions.
- Introduction of new blood collection tubes: New and improved tubes, like Streck’s RNA Complete BCT™, facilitate easier blood collection and storage.
Overall, the increasing demand for safe blood transfusions is a major driver for the acid citrate dextrose tubes market.
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How do key players contribute to strengthening the global Acid Citrate Dextrose Market?
Becton Dickinson, Fisher Scientific UK, Biomet, Inc., Cepham Life Sciences, and Greiner Bio-One International GmbH are among the prominent names. Noteworthy recent developments include:
- In May 2022, Babson Diagnostics partnered with Becton & Dickinson and Company to extend their collaboration, aiming to facilitate blood sample collection in new care settings, empowering patients to conduct diagnostic tests at home. This expansion promises to streamline blood testing processes, thereby benefiting the Acid Citrate Dextrose tubes market.
- In March 2021, Becton Dickinson & Company made headlines with the acquisition of GSL Solutions, Inc., a company specializing in smart medication storage solutions and patient-specific medications, enhancing security and compliance in medical storage. This strategic move is poised to fuel advancements in Acid Citrate Dextrose tubes and bolster market expansion.
Key Segments Profiled in the Acid Citrate Dextrose Tube Industry Report:
Acid Citrate Dextrose Tube Market by Type:
- 0 ML Acid Citrate Dextrose Tubes
- 5 ML Acid Citrate Dextrose Tubes
Acid Citrate Dextrose Tube Market by Application:
- Acid Citrate Dextrose Tubes for Hospitals
- Acid Citrate Dextrose Tubes for Diagnostics Centers
- Acid Citrate Dextrose Tubes for Health Care Clinics
Acid Citrate Dextrose Tube Market by Region:
- North America Acid Citrate Dextrose Tube Market
- Europe Acid Citrate Dextrose Tube Market
- Asia Pacific Acid Citrate Dextrose Tube Market
- Middle East & Africa Acid Citrate Dextrose Tube Market
- Latin America Acid Citrate Dextrose Tube Market
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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