Blood Bank Market Report by Product Type (Whole Blood, Red Blood Cells, Platelet, Plasma, White Blood Cells), Bank Type (Private, Public), Function (Collection, Processing, Testing, Storage, Transportation), End User (Hospital, Ambulatory Surgery Centers, Pharmaceutical Companies, Clinics and Nursing Homes, and Others), and Region 2024-2032
The global blood bank market size reached US$ 17.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 25.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 17.2 Billion
Market Forecast in 2032
US$ 25.1 Billion
Market Growth Rate (2024-2032)
4.2%
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:
IMARC Group provides an analysis of the key trends in each sub-segment of the global blood bankmarket report, along with forecasts at the global, regional and country level from 2024-2032. Our 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.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Product Type, Bank Type, Function, End User, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
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
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global blood bank market was valued at US$ 17.2 Billion in 2023.
We expect the global blood bank market to exhibit a CAGR of 4.2% during 2024-2032.
The rising prevalence of hematological diseases, such as rare genetic conditions, anemia, sickle cell disease, etc., along with the growing cases of Human Immunodeficiency Viruses (HIV) and hepatitis B, are primarily driving the global blood bank market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of blood banks for collecting blood plasma, which is further used to treat the coronavirus-infected patients.
Based on the product type, the global blood bank market has been segmented into whole blood, red blood cells, platelet, plasma, and white blood cells. Currently, red blood cells exhibit a clear dominance in the market.
Based on the bank type, the global blood bank market can be divided into private and public, where private accounts for the majority of the global market share.
Based on the function, the global blood bank market has been segregated into collection, processing, testing, storage, and transportation. Among these, testing currently exhibits clear dominance in the market.
Based on the end user, the global blood bank market can be bifurcated into hospital, ambulatory surgery centers, pharmaceutical companies, clinics and nursing homes, and others. Currently, hospital holds the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global blood bank market include 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.
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