Blood Banking and Blood Products - Global Strategic Business Report

The global market for Blood Banking and Blood Products was valued at US$52.4 Billion in 2024 and is projected to reach US$69.0 Billion by 2030, growing at a CAGR of 4.7% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Blood Banking and Blood Products Market - Key Trends and Drivers Summarized

How Does the Blood Banking System Sustain Public Health?

Blood banking, a critical component of modern healthcare systems, ensures the safe collection, storage, and distribution of blood and blood products necessary for medical procedures. This system involves not only the collection of whole blood from donors but also the processing of blood to obtain components like red cells, platelets, and plasma, which can be used individually to treat various conditions. Stringent regulatory standards govern every step of the process to minimize risks of transfusion-transmitted infections and ensure the safety and effectiveness of blood products. Blood banks also play a vital role in emergency preparedness by maintaining an adequate supply to meet routine and crisis-driven demands. The efficiency of blood banks in managing the supply chain - from donor recruitment to the final delivery of blood products to medical facilities - directly impacts their ability to save lives and improve patient outcomes.

What Technological Innovations Are Enhancing Blood Banking?

The field of blood banking has benefited significantly from technological advancements that enhance the safety, efficiency, and efficacy of blood product storage and transfusion. Automated systems for blood collection and processing have standardized many procedures, reducing human error and increasing the yield of viable blood components. Technologies such as pathogen reduction systems improve the safety of blood transfusions by inactivating potential contaminants that can cause infections. Moreover, sophisticated refrigeration and freezing equipment has extended the shelf life of blood products, allowing for better management of inventories and reduced waste. Data management systems integrate these technologies, providing real-time tracking and optimized logistics, ensuring that the right type of blood product is available when and where it is needed most.

How Are Regulatory Changes and Global Health Needs Shaping Blood Banking?

Regulatory frameworks and global health needs are constantly shaping practices within the blood banking industry. Changes in regulations often reflect advancements in medical research, emerging health threats, or shifts in public health policies. For example, responses to global pandemics or outbreaks necessitate rapid adjustments in blood collection practices and donor eligibility criteria to safeguard the blood supply. Additionally, international collaboration efforts are enhancing the standards of practice worldwide, aiming to elevate blood safety and availability in under-resourced regions. These efforts include training, the establishment of standardized protocols, and support for infrastructure development in blood banks, which are critical for addressing disparities in global health care and ensuring equitable access to life-saving blood products.

What Drives the Growth in the Blood Banking and Blood Products Market?

The growth in the blood banking and blood products market is driven by several factors, including technological advancements, increased awareness of the importance of blood donation, and rising global health care demands. Technological innovations that improve the efficiency of blood collection, processing, and storage are crucial, as they enhance the overall safety and availability of blood supplies. Demographic trends, such as aging populations and the consequent rise in medical conditions that require blood transfusions, also contribute significantly to market expansion. Additionally, initiatives aimed at increasing donor participation and retention have been vital in meeting the growing demand for blood products. Campaigns that educate the public about the need for and benefits of donating blood, coupled with enhanced donor recruitment strategies, are essential for maintaining a stable blood supply. Furthermore, expanding healthcare infrastructure in emerging economies is increasing access to medical treatments that require blood products, thereby broadening the market. These factors, combined with ongoing research and development in transfusion medicine, continue to drive the dynamic growth of this critical sector.

Report Scope

The report analyzes the Blood Banking and Blood Products market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments

Product Type (Blood Components & Plasma Products, Equipment, Blood Tests & Other Consumables).

Geographic Regions/Countries

World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Blood Components & Plasma Products segment, which is expected to reach US$56.4 Billion by 2030 with a CAGR of a 4.9%. The Equipment, Blood Tests & Other Consumables segment is also set to grow at 3.9% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $13.7 Billion in 2024, and China, forecasted to grow at an impressive 7.4% CAGR to reach $15.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as AABB, Abbott Laboratories, American Red Cross, America's Blood Centers, Beckman Coulter, Inc. and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Blood Banking and Blood Products Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Blood Banking and Blood Products Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Blood Banking and Blood Products Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Some of the 209 major companies featured in this Blood Banking and Blood Products market report include:

• AABB
• Abbott Laboratories
• American Red Cross
• America's Blood Centers
• Beckman Coulter, Inc.
• Becton, Dickinson and Company
• Beijing Tiantan Biological Products Co., Ltd.
• Bharat Serums and Vaccines Ltd.
• Bio Products Laboratory Ltd.
• bioMérieux SA
• Bio-Rad Laboratories, Inc.
• Biotest AG
• Canadian Blood Services
• Cerus Corporation
• China Biologic Products, Inc.
• CSL Behring LLC
• Fenwal Inc.
• Fresenius Kabi AG
• Grifols S.A.
• Haemonetics Corporation
• Immucor Inc.
• Kawasumi Laboratories, Inc.
• Kedrion S.p.A.
• LFB Group
• MacoPharma SA
• New York Blood Center
• Octapharma AG
• Ortho-Clinical Diagnostics, Inc.
• Shanghai RAAS Blood Products Co., Ltd.
• Shire plc
• Sichuan Yuanda Shuyang Pharmaceutical Co., Ltd.
• Terumo BCT Inc.