The global blood bank market size reached US$ 17.2 Billion in 2023. Looking forward, the market is projected to reach US$ 25.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.29% during 2023-2032.
A blood bank is a facility where blood is collected from donors, typed, separated into components, stored, and prepared for transfusion to patients. The blood is separated into red blood cells (RBCs), plasma, and platelets, which are transfused to different individuals according to their requirements. Blood banks avoid transfusion-related reactions by providing proper identification of the patients and blood products. In addition, they offer distribution services of blood to hospitals, ambulatory surgery centers, pharmaceutical companies, and research centers.
This, coupled with various benefits associated with red blood cells (RBCs), such as easy availability and low cost of storage and maintenance, is positively influencing the market. Besides this, governments of several countries are taking initiatives to promote blood donation around the world. In line with this, the expanding healthcare industry is offering lucrative growth opportunities to end-users and investors. Additionally, the rising number of accidents in sports due to poor training methods, structural abnormalities, and unsafe exercising environments is bolstering the demand for packed red blood cells (RBCs) during blood transfusions.
2. What is the expected growth rate of the global blood bank market during 2024-2032?
3. What are the key factors driving the global blood bank market?
4. What has been the impact of COVID-19 on the global blood bank market?
5. What is the breakup of the global blood bank market based on the product type?
6. What is the breakup of the global blood bank market based on the bank type?
7. What is the breakup of the global blood bank market based on function?
8. What is the breakup of the global blood bank market based on the end user?
9. What are the key regions in the global blood bank market?
10. Who are the key players/companies in the global blood bank market?
A blood bank is a facility where blood is collected from donors, typed, separated into components, stored, and prepared for transfusion to patients. The blood is separated into red blood cells (RBCs), plasma, and platelets, which are transfused to different individuals according to their requirements. Blood banks avoid transfusion-related reactions by providing proper identification of the patients and blood products. In addition, they offer distribution services of blood to hospitals, ambulatory surgery centers, pharmaceutical companies, and research centers.
Blood Bank Market Trends
The growing prevalence of hematological diseases, such as rare genetic conditions, anemia, and sickle cell disease due to disorders of the blood and blood-forming organs, represents one of the key factors driving the market. Moreover, there is an increase in the demand for safe blood due to the rising cases of transfusion transmissible infections (TTI), such as human immunodeficiency viruses (HIV) and hepatitis B. This, along with the increasing geriatric population across the globe, is propelling the growth of the market. In addition, there is a rise in the demand for red blood cells (RBCs) in amputation surgeries.This, coupled with various benefits associated with red blood cells (RBCs), such as easy availability and low cost of storage and maintenance, is positively influencing the market. Besides this, governments of several countries are taking initiatives to promote blood donation around the world. In line with this, the expanding healthcare industry is offering lucrative growth opportunities to end-users and investors. Additionally, the rising number of accidents in sports due to poor training methods, structural abnormalities, and unsafe exercising environments is bolstering the demand for packed red blood cells (RBCs) during blood transfusions.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global blood bank market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on product type, bank type, function, and end user.Breakup by Product Type:
- Whole Blood
- Red Blood Cells
- Platelet
- Plasma
- White Blood Cells
Breakup by Bank Type:
- Private
- Public
Breakup by Function:
- Collection
- Processing
- Testing
- Storage
- Transportation
Breakup by End User:
- Hospital
- Ambulatory Surgery Centers
- Pharmaceutical Companies
- Clinics and Nursing Homes
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being American Association of Blood Banks, Blood Bank of Alaska, Canadian Blood Services, Haemonetics Corporation, Japanese Red Cross Society, New York Blood Center, NHS Blood and Transplant, Sanquin Bloedvoorziening, Terumo Corporation, The American National Red Cross and Vitalant.Key Questions Answered in This Report
1. What was the size of the global blood bank market in 2023?2. What is the expected growth rate of the global blood bank market during 2024-2032?
3. What are the key factors driving the global blood bank market?
4. What has been the impact of COVID-19 on the global blood bank market?
5. What is the breakup of the global blood bank market based on the product type?
6. What is the breakup of the global blood bank market based on the bank type?
7. What is the breakup of the global blood bank market based on function?
8. What is the breakup of the global blood bank market based on the end user?
9. What are the key regions in the global blood bank market?
10. Who are the key players/companies in the global blood bank market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Blood Bank Market
6 Market Breakup by Product Type
7 Market Breakup by Bank Type
8 Market Breakup by Function
9 Market Breakup by End User
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- American Association of Blood Banks
- Blood Bank of Alaska
- Canadian Blood Services
- Haemonetics Corporation
- Japanese Red Cross Society
- New York Blood Center
- NHS Blood and Transplant
- Sanquin Bloedvoorziening
- Terumo Corporation
- The American National Red Cross
- Vitalant
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 17.2 Billion |
| Forecasted Market Value ( USD | $ 25.1 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
