NEEDLE FREE BLOOD DRAWING DEVICES MARKET ANALYSIS

Market News

Key Developments

1. Major companies in the market are involved in different business strategies such as gaining product approval from regulatory authorities, in order to expand their product portfolio. For instance, in February 2017, Velano Vascular, a San Francisco-based company, received the U.S. Food and Drug Administration (FDA) 510(k) clearance for its Pivo needle-free blood draw device. It is a single used, disposable device, designed to take blood samples from IVF catheters.
2. Major companies in the market are involved in different business strategies such as participating in capital venture activities, in order to gain competitive edge in the market. For instance, in March 2017, Velano Vascular, a U.S.-based startup, raised US$ 17 million (investors’ names undisclosed) for a needle-free blood draw device. The device developed by Velano Vascular is called PIVO, which is a needle-free device and can be inserted through existing IVD catheter.
3. Major companies in the market are involved in different business strategies such as participating in capital venture activities, in order to gain competitive edge in the market. For instance, in May 2019, Velano Vascular, a U.S.-based company received US$ 10 million funding its strategic investor Intermountain Healthcare for its FDA cleared needle-free blood drawing device PIVO.