Complete blood count (CBC) devices are medical devices used to measure components and evaluate the health of blood. Some of the key components measured through CBC devices include white blood cells, red blood cells, hemoglobin, hematocrit, mean corpuscular volume, red blood cell distribution width, and platelets. CBC devices help physicians detect various blood-related conditions or disorders and can also be used for monitoring purposes. Factors such as increasing prevalence of blood disorders, growing geriatric population, and rising focus on disease diagnosis and treatment are contributing to the demand for CBC devices globally.
The global complete blood count device market is estimated to be valued at US$ $4,627.35 million in 2021, and is expected to exhibit a CAGR of 8.3% over the forecast period (2021-2028).
Key Takeaways
Key players operating in the complete blood count device market are Sonoco Products Company, Amcor Plc, International Paper Company, Sealed Air Corp., Huhtamaki Oyj, Amcor Plc, Linpac Group Ltd., Ampac Holdings LLC, INDEVCO Group, Tetra Laval, Berry Global, Stora Enso, and SIG. The growing prevalence of various blood disorders such as anemia, blood cancer, blood clots, and infections is fueling the demand for CBC devices globally.
Technological advancements in Complete Blood Count Device Market Growth devices such as ultrasound-based CBC analyzers, microfluidic-based point-of-care CBC devices, and artificial intelligence-enabled CBC devices are further expected to drive the market growth over the forecast period.
Market Trends
Portable and point-of-care CBC devices:
Portable and point-of-care Complete Blood Count Device Market Size and Trends allow physicians to perform tests near the patient with quick turnaround times. This is expected to drive their demand especially inAmbulatory Surgical Centers (ASCs) and home care settings. Automation and digitization: Manufacturers are focusing on automation, integration of artificial intelligence and cloud connectivity in CBC devices. This is helping obtain accurate and swift test results with minimal human intervention.
Market Opportunities
Emerging economies: Markets in developing regions such as Asia Pacific, Latin America, and Middle East & Africa are expected to provide lucrative opportunities owing to improving healthcare infrastructure and increasing healthcare expenditures. Growing telemedicine: Rising adoption of telemedicine during the pandemic has opened opportunities for portable point-of-care CBC devices integrated with telemedicine for remote patient monitoring and diagnosis.
Impact of COVID-19 on Complete Blood Count Device Market
The COVID-19 pandemic has significantly impacted the growth of the complete blood count device market. In the initial phase of the outbreak, several countries imposed nationwide lockdowns resulting in shutting down of production facilities and disruption in supply chains. This negatively affected the manufacturing and distribution of complete blood count devices. The demand also witnessed a decline as non-essential medical procedures and routine health checkups were postponed or canceled to avoid unnecessary exposure.
However, as the pandemic progressed, complete blood count testing became an important diagnostic tool for detecting COVID-19 infections and evaluating disease severity in patients. Hospitals and diagnostic centers started extensively using CBC devices for monitoring complete blood cell counts in infected individuals. This led to a surge in demand for point-of-care complete blood cell counters and laboratory hematology analyzers post lockdown easing. Manufacturers responded by ramping up production capacity to meet the rising requirements. Telehealth also emerged as an effective medium to continue CBC screening and consultations virtually without risk of infection.
Going forward, the complete blood count device market is expected to witness steady growth driven by factors like increasing geriatric population susceptible to chronic illnesses, rising cases of cancer and infectious diseases requiring frequent CBC monitoring, and growing healthcare expenditure in developing nations. However, future waves of COVID-19 may continue posing challenges if they lead to reimposition of lockdowns or limitations on non-urgent medical procedures again. Overall integration of digital technologies, adequate inventory management, and investing in pandemic resilience will be key strategies for industry players.
Complete Blood Count Device Market in Geographical Regions
In terms of value, North America currently accounts for the largest share of the global complete blood count device market owing to developed healthcare infrastructure, rising prevalence of target diseases, and availability of advanced diagnostic technologies. Within the region, the United States is the major revenue generator.
Asia Pacific is identified as the fastest growing regional market for complete blood count devices propelled by factors such as growing medical tourism, increasing healthcare spending, large patient pools, and rising awareness about CBC testing. Rapid economic development across India and China is helping to strengthen their respective hospital systems and diagnostic clinic networks in these nations. This is creating numerous opportunities for market players to tap into the Asia Pacific region.
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Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
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