Blood Bank Market Trends 2022-2027: Industry Size, Share, , Growth and Forecast

The latest research study "Blood Bank Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global blood bank market size reached US$ 15.56 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 21.72 Billion by 2027 exhibiting a growth rate (CAGR) of 5.40% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Industry Definition and Application:

A blood bank represents a facility wherein blood is collected from donors, typed, separated into components, such as plasma, platelets, red blood cells (RBCs), etc., stored, and prepared for transfusion to patients according to their needs. It avoids transfusion-related reactions by providing proper identification of individuals and blood products. In line with this, a blood bank offers distribution services to ambulatory surgery centers, pharmaceutical companies, research centers, etc.

Blood Bank Market Trends and Drivers:

The rising prevalence of several hematological disorders, such as anemia, rare genetic conditions, sickle cell disease, etc., and the expanding geriatric population are primarily driving the blood bank market.

Additionally, the growing incidents of transfusion transmissible infections (TTI), including human immunodeficiency viruses (HIV) and hepatitis B, are propelling the demand for safe blood, which is further catalyzing the market growth. Besides this, the widespread adoption of red blood cells (RBCs) in amputation surgeries, owing to their numerous associated benefits, such as easy availability and low cost of storage and maintenance, is acting as another significant growth-inducing factor. Moreover, the launch of various favorable policies by government bodies across countries to promote blood donation and continuous improvements in healthcare infrastructures are also positively influencing the global market.

Apart from this, the increasing number of accidents in sports, on account of the structural abnormalities, poor training methods, unsafe exercising environment, etc., is anticipated to fuel the blood bank market over the forecasted period.

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Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Product Type:
• Whole Blood
• Red Blood Cells
• Platelet
• Plasma
• White Blood Cells

Breakup by Bank Type:
• Private
• Public

Breakup by Function:
• Collection
• Processing
• Testing
• Storage
• Transportation

Breakup by End User:
• Hospital
• Ambulatory Surgery Centers
• Pharmaceutical Companies
• Clinics and Nursing Homes
• Others

By Geography:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

List of Major Key Players:

The major players in the market are American Association of Blood Banks, Blood Bank of Alaska, Canadian Blood Services, Haemonetics Corporation, Japanese Red Cross Society, New York Blood Center, NHS Blood and Transplant, Sanquin Bloedvoorziening, Terumo Corporation, The American National Red Cross and Vitalant.

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