Microsampling Devices Market worth $135 million by 2029 driven by Shifting Trends Toward Personalized Medicine | MarketsandMarkets™

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Aug 21, 2024, 10:15 ET

CHICAGO, Aug. 21, 2024 /PRNewswire/ -- The global Microsampling Devices Market is valued at an estimated USD 93 million in 2024 and is projected to reach USD 135 million by 2029 at a CAGR of 7.6% during the forecast period. The microsampling devices market is driven by advancements in technology making devices less invasive and user-friendly, such as bladeless or needle-free sampling, coupled with growing consumer awareness and demand for proactive health management. Regulatory approvals enhance device safety and efficiency, boosting consumer confidence. Efforts to reduce prices are making devices more affordable, especially in emerging economies like India, Brazil, and Mexico, where the large patient population, rising disposable income, and improved healthcare infrastructure create opportunities for growth. The rising burden of chronic disorders, such as diabetes and cardiovascular conditions, also fuels demand for microsampling devices, which offer a convenient way to monitor health metrics from home. However, challenges such as the uncontrolled use of unapproved blood collection products at home, low access in resource-limited settings, and gaps in supply chains hinder widespread adoption in developing regions. Fingerstick devices and self-collection methods held the largest market shares in 2023 due to their simplicity and ease of use for frequent home health monitoring. The health screening & preventive health segment dominated the market, driven by the increasing focus on disease prevention and early diagnosis. North America led the market in 2023, benefiting from a well-developed infrastructure for chronic disease management and technology adoption. Key players include Tasso, Inc. (US), Trajan Group Holdings Limited (Australia), YourBio Health, Inc. (US), and Capitainer (Sweden).

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Tasso, Inc.: Market Leader in Microsampling Devices

Tasso, Inc. (US) is a leading player in the microsampling devices market, holding the largest market share in 2023. Since its inception, Tasso's products have been widely used in pharmaceutical clinical trials and across many hospitals in the US. The company leverages both organic strategies, such as regulatory approvals, and inorganic strategies to maintain its leadership position. These strategic efforts have significantly contributed to Tasso's continued success and dominance in the microsampling devices market.

Trajan Group Holdings Limited: Key Player in Microsampling Devices Market

Trajan Group Holdings Limited (Australia) held a significant market share in the microsampling devices market in 2023. The company operates seven manufacturing facilities across the US, Australia, Europe, and Malaysia, with a presence in Australia, the US, Asia, and Europe. In January 2024, CliniSciences signed a distribution agreement with Trajan for its Neoteryx microsampling solutions, a strategy that is expected to strengthen Trajan's market presence and support its continued growth.

YourBio Health, Inc.: Prominent Player in Microsampling Devices

YourBio Health, Inc. (US) is among the key players in the microsampling devices market. Specializing in at-home health monitoring and diagnostics, YourBio Health offers solutions for patients with limited access to healthcare centers. The company focuses on organic growth strategies, creating user-friendly devices that improve patient comfort and compliance. In 2023, YourBio Health received key regulatory clearances, including CE Mark certification and FDA 510(k) clearance for its TAP Micro Select blood collection device. These developments position YourBio Health to expand its market presence with high-quality, innovative health solutions.

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Product Segment: Lancets Dominate the Microsampling Devices Market

The microsampling devices market is segmented into lancets, dried blood spot collection kits, fingerstick blood collection kits, and other products. In 2023, lancets held the largest market share. This dominance is due to their user-friendly design and simple blood collection method. Lancets are widely accessible for home use, especially for chronic disease management, making them popular and affordable for regular home-based blood sampling.

Sample Type Segment: Liquid Blood Samples Lead

The market is also divided by sample type into liquid and dried blood samples. In 2023, liquid blood samples contributed to the largest share. Liquid-based sampling methods require less expensive equipment and minimal operator training, making them easy for self-collection. This cost-effectiveness and ease of use contribute to the high growth of liquid blood samples in the microsampling devices market.

Collection Method Segment: Fingerstick Method Leads

By collection method, the microsampling devices market is segmented into fingerstick, push-button, and other methods. The fingerstick method dominated in 2023, driven by its simplicity and convenience. Fingerstick devices are easy to use, require minimal training, and can be operated without professional assistance, making them ideal for home-based blood collection and frequent health monitoring.

Regional Insights: North America Leads the Microsampling Devices Market

Geographically, the microsampling devices market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC countries. In 2023, North America held the largest market share. This dominance is attributed to the region's advanced healthcare infrastructure, large customer base, and the growing demand for preventative health and personalized medical solutions, which promote better health monitoring across the population.

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