The global blood bank market was valued at $13.85 billion in 2019 and is expected to reach $21.86 billion by 2027, registering a CAGR of 5.7% from 2020 to 2027.
A blood bank is a non-profit organization that engages in all the operations such as collection, processing, testing, storage, and distribution of blood and blood components drawn from donors. A blood bank can be a separate free-standing organization or operates as a part of a hospital. In addition, a blood bank provides safe or disease-free blood for transfusion to save a patient's life and curb the complications that can arise due to severe blood loss.
Blood banks have witnessed an increase in demand, owing to high prevalence of hematological diseases and rise in number of accidental cases across the world. In addition, growth in the geriatric population who is prone to blood disorders and high demand for blood transfusion supplement the market growth. However, wastage of the donated blood and stringent rules & regulations are anticipated to hamper the market growth. On the contrary, blood transfusion in emerging nations is expected to offer significant profitable opportunities for the market players.
The global blood bank market is segmented based on product type, function, bank type, end user, and region. Based on product type, the market is classified as whole blood, red blood cell, platelets, plasma, and white blood cell. The function segment studies collection, processing, testing, storage, and transportation. Based on bank type, the market is segmented into private and public. Depending on end user, the market is classified into hospital, ambulatory surgery center, pharmaceutical companies, clinics & nursing homes, and others. Based on region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
? This report provides a detailed quantitative analysis of the current market trends and future estimations from 2020 to 2027, which assists in identifying the prevailing market opportunities.
? An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders 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 allow companies to strategically plan their business moves.
KEY MARKET SEGMENTS
- By Product Type
o Whole blood
o Red Blood Cell
o Platelet
o Plasma
o White Blood Cell
- By Function
o Collection
o Processing
o Testing
o Storage
o Transportation
- By Bank Type
o Private
o Public
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- By End User
o Hospital
o Ambulatory Surgery Centers
o Pharmaceutical Companies
o Clinics & Nursing homes
o Others
- By Region
o North America
- U.S.
- Canada
- Mexico
o Europe
- Germany
- France
- UK
- Rest of Europe
o Asia-Pacific
- Australia
- Japan
- India
- China
- Rest of Asia-Pacific
o LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- The American Red Cross
- Vitalant
- New York Blood Centre
- Australian Red Cross
- Japan Red Cross Society
- American Association of Blood Banks
- America's Blood Centers
- Canadian Blood Services
- Sanquin Blood Supply Foundation
- Blood Bank of Alaska
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