Blood Banking Market was valued at USD 36,329.8 million in 2021 and is expected to reach USD 69672.3 million by 2029, registering a CAGR of 8.48 % during the forecast period of 2022 to 2029
The blood banking market refers to the segment of the healthcare industry that involves the collection, processing, storage, and distribution of blood and its components for transfusion purposes. Blood banking plays a critical role in ensuring an adequate supply of safe and compatible blood products for patients in need of transfusions.
The blood banking market encompasses various activities and components, including:
- Blood Donation: The process of voluntarily donating blood by individuals. Donated blood is typically collected at blood centers, hospitals, or mobile blood drives.
- Blood Testing and Processing: Donated blood undergoes rigorous testing to ensure its safety and compatibility. Tests may include blood typing, infectious disease screening (such as HIV, hepatitis B and C, syphilis), and other quality control measures. Once the blood is tested and cleared, it undergoes processing to separate it into different components, such as red blood cells, platelets, and plasma.
- Blood Storage and Inventory Management: Processed blood components are stored in specialized blood banks or blood centers under controlled conditions to maintain their viability and ensure proper inventory management.
- Blood Transfusion: Blood components are distributed to hospitals, clinics, and healthcare facilities where they are used for transfusions to patients in need. Transfusions are commonly performed in cases of surgeries, trauma, cancer treatments, and other medical conditions that require blood replacement.
The blood banking market is influenced by several factors, including population demographics, prevalence of diseases requiring blood transfusions, advancements in transfusion medicine, and regulatory frameworks for ensuring the safety and quality of blood products.
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Market Segmentations:
Global Blood Banking Market: By Company
• Abbott Laboratories(USA)
• American Red Cross(USA)
• America’s Blood Centers(USA)
• Beckman Coulter, Inc.(USA)
• Becton, Dickinson and Company(USA)
• Bio Products Laboratory Ltd.(UK)
• Bio-Rad Laboratories, Inc.(USA)
• bioMérieux SA(France)
• Biotest AG(Germany)
• Canadian Blood Services(Canada)
• Cerus Corporation(USA)
• China Biologic Products, Inc.(China)
• CSL Behring LLC(USA)
• Fenwal Inc.(USA)
• Fresenius Kabi AG(Germany)
• Grifols S.A.(Spain)
• Haemonetics Corporation(USA)
• Huanlan Biological Engineering Inc.(China)
• Immucor Inc.(USA)
• Japan Red Cross Society(Japan)
• Kawasumi Laboratories, Inc.(Japan)
• Kedrion S.p.A.(Italy)
• MacoPharma SA(France)
• New York Blood Center(USA)
• Octapharma AG(Switzerland)
• Ortho-Clinical Diagnostics, Inc.(USA)
• Shanghai RAAS Blood Products Co., Ltd.(China)
• Shire plc(Ireland)
• Sichuan Yuanda Shuyang Pharmaceutical Co., Ltd.(China)
• Terumo BCT Inc.(USA)
Global Blood Banking Market: By Type
• Blood Collection Devices
• Blood Processing Devices
• Blood Storage Devices
Global Blood Banking Market: By Application
• Hospitals
• Blood Center
Global Blood Banking Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Blood Banking market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Key Indicators Analysed
Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
Opportunities and Drivers: Identifying the Growing Demands and New Technology
Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry
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