What is Global Blood Bank (Blood Banking) Market?
The Global Blood Bank (Blood Banking) Market is a comprehensive sector that encompasses the collection, testing, processing, storage, and distribution of blood and blood components drawn from donors. This market plays a crucial role in healthcare systems worldwide, providing a steady supply of blood for transfusions and other medical procedures. Blood banks are typically run by dedicated organizations, which can be public or private, and are regulated by health authorities to ensure safety and efficacy. The market's value was estimated at US$ 34510 million in 2022, and it is projected to grow to US$ 48130 million by 2029. This growth is driven by increasing demand for blood and blood products, advancements in blood banking technologies, and the rising prevalence of diseases requiring blood transfusions. However, the market also faces challenges such as stringent regulatory requirements, risks of transfusion-transmitted infections, and the high cost of blood processing and testing equipment. Despite these challenges, the Global Blood Bank (Blood Banking) Market continues to evolve, with new technologies and practices being developed to improve the safety and efficiency of blood banking.
Whole Blood, Red Blood Cell, Platelet, Plasma, White Blood Cell in the Global Blood Bank (Blood Banking) Market:
The Global Blood Bank (Blood Banking) Market is segmented based on the type of blood product, including whole blood, red blood cells, platelets, plasma, and white blood cells. Whole blood is the most commonly donated and used product, as it can be transfused in its original form or separated into its components for specific uses. Red blood cells are used in treatments for anemia and other conditions that cause low red blood cell counts. Platelets are essential for blood clotting and are often needed by patients with bleeding disorders or those undergoing chemotherapy. Plasma, the liquid part of blood, carries nutrients, hormones, and proteins throughout the body and is used in treatments for burns, shock, and other conditions. White blood cells, while not commonly transfused, play a crucial role in fighting infections and are studied for their potential in cancer treatments. Each of these products has a unique market within the overall blood banking sector, with different demand patterns, supply challenges, and technological advancements.
Hospital, Clinic, Others in the Global Blood Bank (Blood Banking) Market:
The Global Blood Bank (Blood Banking) Market serves a wide range of end-users, including hospitals, clinics, and other healthcare facilities. Hospitals are the largest consumers of blood and blood products, due to the high volume of surgeries, emergencies, and other procedures requiring transfusions. Blood banks work closely with hospitals to ensure a steady supply of blood, often maintaining on-site storage facilities for immediate access. Clinics, while smaller in scale, also require blood products for various treatments and procedures. Other end-users include research institutions, pharmaceutical companies, and biotechnology firms, which use blood and its components for research and development activities. The market's growth is driven by the increasing demand from these end-users, coupled with advancements in blood banking technologies and practices.
Global Blood Bank (Blood Banking) Market Outlook:
The Global Blood Bank (Blood Banking) Market's outlook is positive, with steady growth expected in the coming years. The market was valued at US$ 34510 million in 2022 and is projected to reach US$ 48130 million by 2029, representing a compound annual growth rate (CAGR) of 5.7% during the forecast period. This growth is driven by increasing demand for blood and blood products, advancements in blood banking technologies, and the rising prevalence of diseases requiring blood transfusions. North America is the largest consumer of blood bank services, accounting for over 35% of the global market. Europe follows with a 25% market share. The market is dominated by three major players - Shire (Baxalta), CSL, and Grifols - which together hold nearly 60% of the market share. These companies are at the forefront of technological advancements in the sector, contributing to the market's overall growth and development.
| Report Metric | Details |
| Report Name | Blood Bank (Blood Banking) Market |
| Accounted market size in 2023 | US$ 34510 million |
| Forecasted market size in 2029 | US$ 48130 million |
| CAGR | 5.7 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | American Red Cross, Japan Red Cross Society, New York Blood Center, Sanquin Blood Supply Foundation, America’s Blood Centers, Canadian Blood Services, Shire (Baxalta), CSL, Grifols, Octapharma, Kedrion, LFB Group, Biotest, BPL, RAAS, CBPO, Hualan Bio, Sichuan Yuanda Shuyang, Abbott, Beckman Coulter, BD, Bio-Rad Laboratories, bioMérieux, Cerus, Haemonetics, Immucor, Fresenius Kabi, MacoPharma, Ortho-Clinical, Terumo BCT |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
