Blood Bank Market Overview 2027 | Growth & Key Business Strategies

Posted by Sanyukta K on July 22nd, 2022

Blood banks are primarily involved in the collection, processing, testing, storage and distribution of whole blood and blood products. Furthermore, collected blood or blood products are extensively tested and processed, which increases the cost of blood. A blood bank stores products including whole blood, red blood cells, platelets and plasma for a short period of time depending on the results of the test procedure. Furthermore, they provide distribution services to hospitals, ambulatory surgery centers, pharmaceutical companies, research centers and others. Currently, healthcare providers are in high demand for packed red blood cells over whole blood during transfusions.

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Increasing wastage of donated blood and stringent rules and regulations are expected to hamper the growth of the blood bank market. Conversely, blood transfusion in emerging nations is expected to provide significant lucrative opportunities to market players. Increase in prevalence of hematological diseases and rise in accidents are the major factors driving the growth of the global blood bank market. Furthermore, high prevalence of blood infections such as HIV and hepatitis B worldwide, growth in the aging population and high demand for safe blood will complement the growth of the blood bank market.

The global blood bank market is segmented on the basis of product type, function, bank type, end user, and region. Based on product type, the market is segmented into whole blood, red blood cells, platelets, plasma and white blood cells. Work departments include collection, processing, testing, storage and transportation. According to the type of bank, it is divided into private and public. Depending on end user, it is categorized as hospitals, ambulatory surgery centers, pharmaceutical companies, clinics & nursing homes, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of function, the global blood bank market is segmented into collection, processing, testing, storage, and transportation. Testing function accounted for the highest revenue in 2019 and is expected to maintain its dominance throughout the forecast period.

Based on product type, the blood transfusion market is segmented into whole blood, red blood cells, platelets, plasma, and white blood cells. The red blood cell segment accounted for the highest revenue in 2019 and is expected to maintain its dominance throughout the forecast period.

By region, the blood bank market is analyzed in North America, Europe, Asia-Pacific and LAMEA. Europe dominated the market in 2019, accounting for the largest share and is expected to maintain this trend over the forecast period due to large blood donation, high cost of blood procurement and testing, well-established healthcare infrastructure, and low prevalence.

Key Benefits 

• This report provides detailed quantitative analysis of current Blood Bank market trends and future forecasts from 2020 to 2027, which helps in identifying prevailing Blood Bank market opportunities.
• An in-depth analysis of various sectors is expected to provide detailed information on current trends to enable stakeholders to formulate region-specific plans.
• A comprehensive analysis of the factors that drive and restrain the growth of the global blood bank market is provided.
• The key regulatory guidelines for the blood bank market are critically dealt with according to geography.
• An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.

 Key Market Players

• American Association Of Blood Banks
• America's Blood Centers
• Australian Red Cross Society
• Blood Bank Of Alaska
• Canadian Blood Services
• Japanese Red Cross Society
• New York Blood Centre
• Sanquin Blood Supply Foundation
• The American Red Cross
• Vitalant