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North America holds a significant share of the market growth owing to the rising cases of blood disorders and the surge of chronic diseases such as cancer. According to the Leukaemia and Lymphoma Society, approximately one person is diagnosed with blood cancer every three minutes in the United States. Moreover, the rising prevalence of anaemia in the region is increasing the demand for blood transfusion, hence aiding the market growth. In addition, the robust healthcare industry in the region is contributing significantly to the industry growth. Apart from this, the Asia Pacific region is expected to witness rapid growth owing to the rising accident cases. The exponential population growth is increasing the use of transfused blood in infants. Furthermore, various governments in the region are increasingly collaborating with several organisations such as Red Cross Society to promote blood donation among the young population, hence fuelling the market growth in the region, and contributing significantly to the overall blood bank industry.
America's Blood Centers, with a distribution channel in the healthcare industry, along with its partners, entered into an interesting partnership with Riot Games’ League Championship Series in March 2021. The partners would launch the ‘First Blood Saves Lives’ campaign to call upon League of Legend players and fans who have recovered from the COVID-19 infection to donate their plasma (CCP) to support the fight against the COVID-19 pandemic. The league would encourage viewers and players to donate their blood plasma and they would be rewarded with an in-game Kai’Sa skin from the League of Legends game. The collaboration would aid the organisation to reach hundreds of thousands of gamers and millions of Americans to raise awareness regarding the need for blood plasma and blood donations in general. Such partnerships are expected to aid the market growth. The market is further anticipated to be propelled by the expansion of pharmaceutical companies in the industry, such as Johnson & Johnson (NYSE: JNJ) and Pfizer (NYSE: PFE).
Market Analysis by Product Type, Function, Bank Type, End User, and Region:
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The major players in the global market for blood bank are America's Blood Centers, Australian Red Cross Society, Blood Bank of Alaska, and Canadian Blood Services, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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