Blood Bank Information Systems Market Report 2024

This Blood Bank Information Systems market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The blood bank information systems market size has grown strongly in recent years. It will grow from $0.72 billion in 2023 to $0.78 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth during the historic period can be attributed to the increasing demand for blood transfusions, the rising prevalence of chronic diseases, regulatory requirements, the need for efficient blood management, and an increase in surgical procedures.

The blood bank information systems market size is expected to see strong growth in the next few years. It will grow to $1.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The anticipated growth during the forecast period can be attributed to the integration with electronic health records, a growing focus on patient safety, an increasing number of blood donation drives, expansion into emerging markets, and enhanced data analytics capabilities. Key trends expected during this period include greater integration with electronic health records, advanced automation in blood collection, the use of blockchain technology, a heightened emphasis on data security and privacy, and improved user interfaces.

The rising incidence of blood cancer is anticipated to drive the growth of the blood bank information systems market. Blood cancer, or hematologic cancer, affects the blood, bone marrow, and lymphatic system. Its increasing prevalence is linked to various factors, including environmental influences, genetic predispositions, lifestyle choices, and infections. Blood bank information systems support patients with blood cancer by effectively managing and tracking blood donations and transfusions, ensuring timely access to compatible blood products. For example, according to the Leukemia Foundation in Australia, approximately 19,403 Australians were projected to be newly diagnosed with blood cancers such as leukemia, lymphoma, and myeloma in May 2024. This equates to 53 new cases daily or one every 27 minutes. Currently, about 135,000 people in Australia live with a blood cancer or disorder, and this figure is expected to exceed 275,000 by 2035. Consequently, the growing prevalence of blood cancer is fueling the expansion of the blood bank information systems market.

Companies in the blood bank information systems sector are focusing on developing advanced solutions, such as enterprise resource planning (ERP) software, to address the specific needs of blood banks and advanced therapy providers. ERP software integrates core business processes into a single system, enhancing operational efficiency and data management. For instance, in June 2023, Blood Bank Computer Systems Inc., a US-based company specializing in software for blood banks and transfusion services, introduced the ForLife Biologics Platform. This cutting-edge ERP software is tailored for the blood and biotherapies sector, aiming to streamline the collection, manufacturing, and distribution of blood products and advanced therapies. The ForLife Biologics Platform is designed to work seamlessly with the Blood Bank Control System 6.0, which has received regulatory clearance, ensuring compliance with standards for blood bank operations.

In January 2022, CliniSys Solutions Limited, a UK-based provider of blood bank management solutions, acquired HORIZON Lab Systems LLC and merged with Sunquest Information Systems to form a new entity specializing in diagnostic and laboratory informatics. This strategic acquisition is intended to enhance CliniSys's capabilities in public health and laboratory diagnostics by leveraging HORIZON’s advanced cloud-based solutions and expertise in various fields, including environmental and water quality testing, toxicology, and agriculture. HORIZON Lab Systems LLC is a US-based provider of laboratory information systems, while Sunquest Information Systems, also US-based, offers blood bank solutions.

Major companies operating in the blood bank information systems market are Grifols S.A., Sysmex Corporation, Epic Systems Corporation, Haemonetics Corporation, Sunquest Information Systems Inc., WellSky Technologies Inc., Soft Computer Consultants Inc., LABVANTAGE Solutions Inc., Integrated Medical Systems International Inc., Luminous Infoways Pvt. Ltd., Mediware Information Systems Inc., Mak-System, Orchard Software Corporation, Dataman Computer Systems Pvt. Ltd., Hemosoft, Slashdot Media Inc., Blood Bank Computer Systems Inc., Strides Software Solutions Pvt Ltd, Sara Technologies Pvt. Ltd., IT Synergistics Inc., Digi-Trax Corporation.

North America was the largest region in the blood bank information systems market in 2023. The regions covered in the blood bank information systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the blood bank information systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A blood bank information system (BBIS) is a specialized software solution designed to manage and automate the operations of a blood bank. It facilitates the collection, processing, testing, storage, and distribution of blood and blood products. The system ensures that activities related to blood donation, inventory management, donor tracking, compatibility testing, and transfusion processes are efficiently monitored and documented.

The main types of blood bank information systems include the blood donor management module, the blood bank transfusion service module, and others. The blood donor management module is a software component that enhances the recruitment, tracking, and management of blood donors, optimizing the collection and donation processes. This module is available in both web-based and mobile-based applications and is used by entities such as hospitals and blood banks.

The blood bank information systems market research report is one of a series of new reports that provides blood bank information systems market statistics, including the blood bank information systems industry's global market size, regional shares, competitors with a blood bank information systems market share, detailed blood bank information systems market segments, market trends and opportunities, and any further data you may need to thrive in the blood bank information systems industry. This blood bank information systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The blood bank information systems market includes revenues earned by entities by providing services such as blood bank management, inventory management, donor tracking, and blood collection and distribution. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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