Global Blood Bank Market Expected to Reach USD 25.5 Billion by 2033 - IMARC Group

Global Blood Bank Market Statistics, Outlook and Regional Analysis 2025-2033

The global blood bank market size was valued at USD 17.9 Billion in 2024, and it is expected to reach USD 25.5 Billion by 2033, exhibiting a growth rate (CAGR) of 3.98% from 2025 to 2033.

A combination of medical, technological, and demographic factors is driving the demand and supply dynamics in the global blood bank market. The increasing prevalence of chronic diseases, such as cancer, anemia, and blood disorders such as hemophilia, has significantly elevated the demand for blood transfusions and components such as plasma and platelets. According to the National Cancer Institute, approximately 611,720 individuals across the United States alone, were projected to succumb to cancer. Other major contributing factors include the increasing cases of surgical procedures, trauma conditions, and organ transplants worldwide, drawing attention toward the secure preservation and availability of blood for transfusion. Additionally, technological advancements in blood banking-including automated blood collection systems, advanced refrigeration technology, and efficient blood screening and testing methods-have helped improve the safety, effectiveness, and shelf life of stored blood products, enhancing this market further. Besides this, the growing awareness campaigns and initiatives promoting voluntary blood donation by governments, non-profit organizations, and healthcare institutions are also major contributors to the growth of the market since it improves donor turnout and solves blood shortages.

Furthermore, the increasing investment in the healthcare infrastructure in developing economies is opening up more access to blood bank services because of good government policies and investments. In line with this, the rising cases of infectious diseases, such as dengue and malaria, which may necessitate blood transfusions, increase the demand for blood banks. Moreover, the development of blood-based therapies, including regenerative medicine and personalized medicine, opens up new avenues for market growth. The market also benefits from the rising adoption of artificial intelligence and blockchain in blood bank operations, ensuring better inventory management and minimizing wastage.

Global Blood Bank Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share on account of chronic diseases, advanced healthcare infrastructure, increasing demand for blood transfusions and blood-based therapies, and strong awareness campaigns promoting blood donation.

North America Blood Bank Market Trends:

The North America blood bank industry is propelled by an amalgamation of sophisticated healthcare systems, a notable occurrence of chronic illnesses such as cancer and blood disorders, along with a considerable volume of surgical operations and trauma incidents that need blood transfusions. The region advantages from long-standing blood donation awareness initiatives and programs that promote voluntary blood donation, guaranteeing a consistent supply. Moreover, increasing number of aging population across the region is further propelling the market growth. According to the Pew Research Center, the number of Americans aged 100 or older is expected to rise more than fourfold in the next three decades, from over 101,000 in 2024 to 422,000 by 2054.

Asia-Pacific Blood Bank Market Trends:

Increasing chronic disease prevalence, more and more cases of road accidents and trauma cases, a rising demand for blood transfusion due to an increased number of inhabitants coupled with growing age have triggered growth in the Asia Pacific blood bank market. Upgradation of the health infrastructure and government incentives toward donating blood along with greater awareness toward safe storage of blood fuels the market in this region.

Europe Blood Bank Market Trends:

The Europe blood bank market is driven due to the increasing incidence of chronic and infectious diseases, an elderly populace requiring frequent medical intervention and the increasing demand of components of blood in the performance of surgeries and in traumatology. Moreover, governments' support for campaigns blood donation and strict norms by the government to safeguard blood also boost the region-specific growth of the Europe market.

Latin America Blood Bank Market Trends:

Increasing chronic and infectious disease prevalence, road accidents along with surgical procedure related blood demand, and an awareness about voluntary donations are driving the Latin America blood bank market. Growing healthcare infrastructure, in addition to government initiatives toward improving facilities in blood banks, is fostering the growth of this market within the region.

Middle East and Africa Blood Bank Market Trends:

The blood bank market in the Middle East and Africa is fueled by a growing incidence of infectious and chronic illnesses, a heightened need for blood transfusions in trauma and surgical situations, and increased awareness regarding the significance of blood donation. Moreover, governmental initiatives, global aid programs, and enhancements to healthcare infrastructure are facilitating the growth and availability of blood bank services in the area.

Top Companies Leading in the Blood Bank Industry

Some of the leading blood bank market companies 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, Vitalant, among many others.

• In December 2024, Haemonetics Corporation has entered into a definitive agreement to sell its whole blood assets to GVS, S.p.A, including a manufacturing facility in Covina, California and related equipment in Tijuana, Mexico. The transaction involves a total cash consideration of up to $67.1M, with $44.6M upfront and up to $22.5M in contingent earn-outs over the next four years.

Global Blood Bank Market Segmentation Coverage

• On the basis of the product type, the market has been categorized into whole blood, red blood cells, platelet, plasma, and white blood cells, wherein red blood cells represent the leading segment. RBCs are the largest share-holding segment in the market of blood banks due to their critical role in the treatment of anemia, trauma, surgery, and chronic conditions such as cancer and gastrointestinal bleeding. RBC transfusions are the most commonly required and most widely used blood product in the world, driving huge demand. Their critical function in oxygen transport makes them an essential part of medical treatments and further solidifies their market leading position.
• Based on the bank type, the market is classified into private and public, amongst which private dominates the market. Private blood banks dominate the market breakup by bank type as they can offer specialized services, faster processing, and more flexible blood storage options than public blood banks. They have a higher demand from private healthcare facilities and provide personalized blood transfusion services with faster access to blood products for elective surgeries and high-risk patients, thus dominating the market.
• On the basis of function, the market has been divided into collection, processing, testing, storage, and transportation. Among these, testing accounts for the majority of the market share. Testing is the largest segment in the blood bank market by function, mainly on account of the critical need for ensuring safety and compatibility in blood products. In addition to infectious disease screening, blood typing, crossmatching, and other tests must be carried out in detail to prevent adverse reactions during transfusions. With the persistence of bloodborne diseases, the demand for reliable and advanced testing technologies that will ensure the safety standards required continues to propel this segment to dominate the market.
• Based on the end user, the market is segregated into hospital, ambulatory surgery centers, pharmaceutical companies, clinics and nursing homes, others. Among these, hospitals dominate the market. Hospitals represent the biggest portion in the blood bank market categorized by end user, driven by their substantial need for blood and blood products for various medical procedures such as surgeries, trauma care, cancer therapies, and emergency services. Hospitals serve as primary healthcare providers, managing most blood transfusions and blood therapies, which creates a consistent demand for dependable blood bank services and reinforces their leading role in the market.