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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$282.7 Million in the year 2022, 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 $101 Million in 2022, 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$101 Million in the year 2022. 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 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.

New Smart Tags for Tracking Blood Products in Transit

New smart tags are emerging as ideal solution to manage the transport environment and track the location of specimen collected for analysis, investigation or examination in real-time. The smart tag helps to handle the specimen transported, specimen transportation container and specimen transportation management system. In addition, the new smart tag helps to monitor the vibration and temperature of the species under transportation in real-time. The new smart tag helps to prevent loss or deterioration of the species on account of extreme temperature during transportation. Furthermore, the new smart tag would help to maintain a seamless blood supply via quick identification of the place of the location of blood during emergency and enable independent handling of infectious species consequently mitigating the risk of accidents during blood transfusion. The RFID tag holds identification and sensing information of a subject, which could be read using an RFID reader.

The RFID tags are classified into active, semi-active and passive tags based on the presence of power of the system. Active RFID tags incorporate a battery and are capable of communicating up to a distance of several meters. The incorporation of battery in the RFID tags lowers the power requirement of the reader. The key advantage of active RFID tags is enabling reading from a distance. The main disadvantages of active RFID tags are the limited operational hours and the higher cost. The active RFID tags find application in the UHF bands of around 433MHz or higher, while the battery life is around 3 to 7 years. The active RFID tags are mounted on to a pallet in order to facilitate fairly long-distance communications and are generally used in logistics center and port.

The passive RFID tags do not incorporate a battery and is employed for local area communication up to a maximum distance of 10 meters. The passive RFID tags derive power from the electric field produced by the RFID reader. Passive RFID tags are light and inexpensive as there is not battery and could also be miniaturized. The passive RFID tags could be used as semi-permanent device, as physical defects do not arise. The key disadvantage of passive RFID tags is the short reading distance and power consumption from the reader. The applications of passive RFID tags are vast and the relative small size makes the tags suitable for applications requiring large quantum of low-cost tags. On the other hand, the semi-active tags contain a battery, but do not function up to the time signals is received from the reader, unlike active tags. The semi-active RFID tags are usable for a long duration and are suitable for products that do not necessitate constant tracking.