PHLEBOTOMY TUBES MARKET ANALYSIS

Market Challenges And Opportunities

Restraints

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.

Market Drivers

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.