Global Automated Blood Tube Labelers and Specimen Transport Boxes Market to Reach $385.8 Million by 2026

BY PR Newswire | ECONOMIC | 11/16/21 11:26 AM EST

SAN FRANCISCO, Nov. 16, 2021 /PRNewswire/ --?A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled?"Automated Blood Tube Labelers and Specimen Transport Boxes - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Global Automated Blood Tube Labelers and Specimen Transport Boxes Market

Edition:?9;?Released:?October 2021
Executive Pool:?469
Companies:?35 - Players covered include Alifax S.r.l.; Brooks Life Sciences; Greiner Bio-One International GmbH; INPECO SA; Kobayashi Create Co., Ltd.; SARSTEDT AG & Co. KG; Scinomix and Others.
Coverage:?All major geographies and key segments
Segments:?End-Use (Hospitals, Diagnostic Centers, Blood Banks, Other End-Uses)
Geographies:?World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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Global Automated Blood Tube Labelers and Specimen Transport Boxes Market to Reach US$385.8 Million by the Year 2026
Automated blood tube labeler is used for reducing human errors that occur during the preanalytical phase of blood collection process.?Growth in the global market is being driven by the growing awareness about the benefits offered by automated tube labeling over manual labeling, rising prevalence of chronic diseases, and rise in accident cases, which are driving need for blood analysis and testing. Demand for automated blood tube labeler and specimen transportation boxes is driven by the growing demand from medical facilities like hospitals, laboratories and diagnostic centers. Amidst the growing demand for testing, such facilities are adopting some level of automation in their operations to deal with the surge in specimen volumes. Manual labeling is time consuming and also labor intensive process, thus presenting automated labelers as an ideal alternative option. The automated labelers prevent labels from wrinkling, improve readability of information on labels, enhance accuracy, consistency and precision, improve throughput of the systems. The potential to improve turnaround times of test results using automated equipment and thus ensure early delivery of care is driving market outlook.

Amid the COVID-19 crisis, the global market for Automated Blood Tube Labelers and Specimen Transport Boxes estimated at US$247.2 Million in the year 2020, is projected to reach a revised size of US$385.8 Million by 2026, growing at a CAGR of 7.4% over the analysis period. Hospitals, one of the segments analyzed in the report, is projected to grow at a 7.4% CAGR to reach US$174.4 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Diagnostic Centers segment is readjusted to a revised 8.4% CAGR for the next 7-year period. This segment currently accounts for a 34.1% share of the global Automated Blood Tube Labelers and Specimen Transport Boxes market. The growing disease prevalence and need for more than one confirmatory test for several of these diseases and the resultant need for blood sample collection, transportation and testing at laboratories is driving market growth. The rise in blood test volumes will spur opportunities for automated blood tube labeling and specimen transportation boxes at diagnostic centers.

The U.S. Market is Estimated at $94.5 Million in 2021, While China is Forecast to Reach $63.6 Million by 2026
The Automated Blood Tube Labelers and Specimen Transport Boxes market in the U.S. is estimated at US$94.5 Million in the year 2021. The country currently accounts for a 35.9% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$63.6 Million in the year 2026 trailing a CAGR of 9.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR while Rest of European market (as defined in the study) will reach US$68.5 Million by the end of the analysis period. North America and Europe represent leading regional markets. The rising prevalence of chronic diseases requiring blood transfusions along with rise in road accidents is supporting market growth. The advanced healthcare infrastructure in place and growing demand for automated equipment from labs and healthcare facilities is driving growth in these regions.

Blood Banks Segment to Reach $56.2 Million by 2026
In the global Blood Banks segment, USA, Canada, Japan, China and Europe will drive the 6.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$30.5 Million in the year 2020 will reach a projected size of US$47 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.7 Million by the year 2026, while Latin America will expand at a 6.9% CAGR through the analysis period. More

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