Needle Free Blood Drawing devices Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMD720 | Last Updated On: Jun 10 2022 | Available Formats

> Global Needle Free Blood Drawing devices Market Expected to reach a high CAGR by 2029: DataM Intelligence

Global Needle Free Blood Drawing devices Market is segmented By Technology Type (Venepunture, Touch based), By End Users (Hospitals, Research organizations, Diagnostic centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global "Needle Free Blood Drawing devices Market" is expected to grow at a CAGR during the forecasting period (2022-2029).

  • Needle-free blood drawing devices are used to draw the blood from the patient’s vein either by venepuncture or touch-enabled technology. In the case of venepuncture, the Intravenous Therapy (IV) needle is used to puncture the skin, and then it is replaced with a plastic tube that becomes soft over some time. A product named PIVO a narrow-gauge tunnel is used to extract blood from veins with the help of existing IV tubes.

  • The touch-enabled systems use virtually invisible micro-needles and collect capillary blood by piercing the uppermost layer of the skin with the help of a new microfluid extraction process.

Market Drivers

  • An increase in blood draws globally is one of the major factors having a positive impact on global needle-free blood drawing devices market, and is also expected to remain high over the forecast period.

  • In August 2017, Velano Vascular stated that 400 million blood draws occur annually in the U.S, as much as 70% of all our clinical decisions. Many of these are conducted in hospitals and patients receive almost three draws daily. This number gradually increases to 30% due to difficult venous access because of various conditions it including (obesity, age, disease, etc.) which makes the process difficult.

Market Restraints

  • One of the major factor hindering the global needle-free blood drawing devices market is its high economic expenditure and unexplored.

  • The cost involved in the process of blood draws using a needle-free blood drawing devices is comparatively high when compared with traditional blood drawing.

Market Segmentation Analysis

By Product type

  • The global needle-free blood drawing devices market is segmented on technology type which includes venepuncture and touch-based. Venepuncture involves piercing the vein, replacing it with a flexible mold, and using it as a source to draw blood. The touch-based system uses a tiny microneedle to suck the blood through the uppermost layer of the skin.

  • Touch technology-based devices are dominating the market in 2018, due to their availability and technological advancements. These are the great devices used multiple times on a single person whereas venepuncture-based devices are replaced after every usage and it is expensive.

By Geography

  • North America dominates the global needle-free blood drawing devices market in 2018, due to the increase in the adoption rate of devices in many health care centers across the region.

  • In September 2018, Intermountain healthcare in the U.S started implementing needle-free blood drawing for inpatients blood draws across its 22 hospitals.

  • In November 2018, Colorado Hospital started adopting needle-free, and in 6 weeks, the hospital has avoided about 4000 patient needle sticks.

  • In September 2018, University Hospitals Cleveland Medical Center in Ohio started adopting needle-free blood drawing devices to reduce risks and anxiety from hospitalized patients.

Competitive Trends

  • Investments from major companies in the healthcare devices for research and development of needle-free blood drawing devices, Food and Drug Administration (FDA) approvals are driving the global needle-free blood drawing devices market.

  • In February 2018, Switzerland-based Startup Loop Medical merged with Cerba Health care to develop a unique needle-free blood drawing device.

  • In February 2017, FDA approved a fast and virtually painless blood draw device from the seventh sense Biosystems.

  • In March 2017, Velano Vascular gets the third FDA approval of the needle-free blood draw device.

  • In 2016, Seventh Sense Biosystems is funded by Polaris partners, Siemens AG, Novartis International AG to develop a needle-free blood drawing device.

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