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Global Blood Bank Market Share, Size, Analysis, Growth, Forecast: By Product Type: Whole Blood, Red Blood Cell, Platelet, Plasma, White Blood Cell, Platelet, Plasma; By Function: Collection, Processing, Testing, Storage, Transportation; By Bank Type: Private, Public, Others; By End User; Regional Analysis; Supplier Landscape; 2024-2032
Global Blood Bank Market Outlook
The global blood bank market size attained a value of USD 17.59 billion in 2023, driven by rising awareness among people regarding the importance of donating blood, initiatives by the government and other organisations, use of augmented reality (AR) to portray the dire significance of blood donations, adoption of blockchain to add visibility and security to the blood supply network, and improvements in the healthcare infrastructure. The market is anticipated to grow at a CAGR of 4.7% during the forecast period of 2024-2032 to attain a value of USD 26.59 billion by 2032.
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Rising Awareness Regarding Blood Donation Augmenting the Market Growth of Blood Bank
World Blood Donor Day is celebrated on June 14 each year. It is a joint initiative by the World Health Organisation and the International Federation of Red Cross and Red Crescent Societies to raise awareness regarding safe blood and the importance of blood donors. The introduction of World Blood Donor Day resulted in increased blood donation, hence aiding the market growth for blood banks. Moreover, various governments are actively promoting blood drivers to maintain an efficient transfused blood supply. For instance, the Delhi government of India partnered with Facebook to increase awareness regarding voluntary blood donations.
Several governments are collaborating with various organisations to create opportunities for blood donation to increase the scope of voluntary donations in their countries by educating and sensitising the young population, which is positively impacting the market growth.
The improvements in the healthcare infrastructure in emerging countries like Mexico and India are propelling the market growth. The robust healthcare industry is also encouraging blood drivers in remote parts of nations, resulting in the growth of the blood bank industry. The increasing patients of thalassemia and sickle cell disease are also increasing the demand for blood donation as they require blood transfusion regularly, hence invigorating the industry growth. Moreover, the thriving pharmaceuticals industry is augmenting the market growth as it utilises various blood components in the production of blood products. The surging use of blood components in various research and development (R&D) activities in the pharmaceutical sector is providing further impetus to the growth of the blood bank industry.
Blood Bank: Market Segmentation
A blood bank refers to a centre where blood is collected and stored to be used in a transfusion. It ensures the safety of blood by storing it effectively and testing it for infectious diseases. The blood is then broken into various compounds, such as white blood cells, red blood cells, plasma, and platelets, among others, for use in specific applications.
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The major product types of blood bank are:
- Whole Blood
- Red Blood Cell
- Platelet
- Plasma
- White Blood Cell
The market can be broadly categorised on the basis of its functions into:
- Collection
- Processing
- Testing
- Storage
- Transportation
Based on bank type, the market is divided into:
- Private
- Public
On the basis of end users, the market is categorised into:
- Hospital
- Ambulatory Surgery Centres
- Pharmaceutical Companies
- Clinics and Nursing Homes
- Others
The EMR report looks into the regional markets of blood bank like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Demand for Plasma Owing to the COVID-19 Crisis to Bolster the Growth of the Blood Bank Industry
The increasing research and clinical trials regarding the COVID-19 convalescent plasma to analyse the effectiveness of plasma of recovered COVID-19 patients to reduce the severity of illness in critically ill patients is increasing blood donation from recovered patients, hence propelling the market growth. For instance, researchers in the Netherlands recruited nearly 1,500 COVID-19 recovered patients to donate blood in order to develop effective treatment of the novel disease using plasma. According to World Health Organisation, the market growth was hindered as the COVID-19 crisis prevailed owing to reduced donor attendance rates and cancellation of blood drives. The market is expected to recuperate due to the rising transfusion requirements in severe complications of the disease due to the ongoing mutation of SARS-CoV-2 and consequent second and third waves of the pandemic.
Increasing donations by repeat donors and older donors is further fuelling the market growth. Various digital technologies can aid blood banks in optimising blood donation. The use of robots and medical drones can aid the recruitment of new blood donors while reducing the process of blood donation. The use of augmented reality (AR) to portray the dire significance of blood donations to donors by featuring critically ill patients requiring blood is also increasing blood donations, hence catalysing the industry growth. In addition, the adoption of blockchain to add visibility and security to the blood supply network is projected to bolster the growth of the blood bank industry.
Key Industry Players in the Global Blood Bank Market
The report presents a detailed analysis of the following key players in the global blood bank market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- America's Blood Centers
- Australian Red Cross Society
- Blood Bank of Alaska
- Canadian Blood Services
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Function |
|
| Breakup by Bank Type |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Blood Bank Market Overview
3.1 Global Blood Bank Market Historical Value (2017-2023)
3.2 Global Blood Bank Market Forecast Value (2024-2032)
4 Global Blood Bank Market Landscape
4.1 Global Blood Bank Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Blood Bank Product Landscape
4.2.1 Analysis by Product Type
4.2.2 Analysis by Function
4.2.3 Analysis by Bank Type
4.2.4 Analysis by End User
4.2.5 Analysis by Bank Region
5 Global Blood Bank Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Blood Bank Market Segmentation
6.1 Global Blood Bank Market by Product Type
6.1.1 Market Overview
6.1.2 Whole Blood
6.1.3 Red Blood Cells
6.1.4 White Blood Cell
6.1.5 Platelet
6.1.6 Plasma
6.2 Global Blood Bank Market by Function
6.2.1 Market Overview
6.2.2 Collection
6.2.3 Processing
6.2.4 Testing
6.2.5 Storage
6.2.6 Transportation
6.3 Global Blood Bank Market by Bank Type
6.3.1 Market Overview
6.3.2 Private
6.3.3 Public
6.3.4 Home Healthcare
6.3.5 Others
6.4 Global Blood Bank Market by End User
6.4.1 Market Overview
6.4.2 Hospital
6.4.3 Ambulatory Surgery Centres
6.4.4 Pharmaceutical Companies
6.4.5 Clinics and Nursing Homes
6.4.6 Others
6.5 Global Blood Bank Market by Region
6.5.1 Market Overview
6.5.2 North America
6.5.3 Europe
6.5.4 Asia Pacific
6.5.5 Latin America
6.5.6 Middle East and Africa
7 North America Blood Bank Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Blood Bank Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Blood Bank Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Blood Bank Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Blood Bank Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 AMERICAN ASSOCIATION OF BLOOD BANKS
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 AMERICA'S BLOOD CENTERS
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 AUSTRALIAN RED CROSS SOCIETY
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 BLOOD BANK OF ALASKA
17.4.1 Financial Analysis
17.4.2 Financial Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 CANADIAN BLOOD SERVICES
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 JAPANESE RED CROSS SOCIETY
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 NEW YORK BLOOD CENTRE
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 SANQUIN BLOOD SUPPLY FOUNDATION
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 THE AMERICAN RED CROSS
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 VITALANT
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Others
18 Global Blood Bank Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
Globally, blood bank market reached a value of USD 17.59 billion in 2023.
The market is projected to expand at a CAGR of 4.7% from 2024 to 2032, growing to USD 26.59 billion by 2032.
The industry is primarily being driven by the rising awareness among people regarding the importance of donating blood, initiatives by the government and other organisations, use of augmented reality (AR) to portray the dire significance of blood donations, adoption of blockchain to add visibility and security to the blood supply network, and improvements in the healthcare infrastructure.
The key trends driving the industry’s growth are the increasing research and clinical trials regarding the COVID-19 convalescent plasma and increasing donations by repeat donors and older donors.
The major regions in the industry are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
The major product types of blood bank are whole blood, red blood cell, platelet, plasma, and white blood cell.
The market can be broadly categorised on the basis of its functions into collection, processing, testing, storage, and transportation.
Based on bank type, the market is divided into private and public.
On the basis of end-users, the market is categorised into hospital, ambulatory surgery centres, pharmaceutical companies, clinics and nursing homes, among others.
The major players in the industry are America's Blood Centers, Australian Red Cross Society, Blood Bank of Alaska, and Canadian Blood Services, among others.
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