Blood Bank Market Status, Growth Insights, Revenue, In-Depth Analysis, Upcoming Trends And Segmentation - American Association of Blood Banks (AABB), Blood Bank of Alaska, Canadian Blood Services, The Japanese Red Cross Society

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Blood Bank Market Size, Growth Rate, And Forecast

The global blood bank market size is expected to grow from $15.96 billion in 2022 to $16.95 billion in 2023 at a compound annual growth rate (CAGR) of 6.17%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global blood bank market size is expected to reach $21.18 billion in 2027 at a CAGR of 5.74%.

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Blood Bank Market Drivers

A rising number of accidents is expected to propel the growth of the blood bank market going forward. The rising number of accidents refers to an increase in the frequency or occurrence of unexpected events that result in injury, damage, or loss of life and includes a wide range of accidents such as car accidents and workplace accidents. The rising number of accidents frequently increases the need for immediate blood transfusions to treat injuries, replace blood loss, and maintain adequate circulation caused by accidents. For instance, in June 2022, according to an article published by the World Health Organization (WHO), a Switzerland-based international public health agency responsible for public health efforts, road traffic crashes caused approximately 1.3 million deaths, and non-fatal injuries accounted for 20 to 50 million people. Furthermore, more than 90 percent of road traffic fatalities occur in low- and middle-income countries. Therefore, the rising number of accidents will drive the blood bank market.

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Blood Bank Market Segments

• By Bank Type: Private Blood Bank, Public Blood Bank

• By Function: Collection, Processing, Testing, Storage, Transportation

• By Product Type: Whole Blood, Red Blood Cells, Platelet, Plasma, White Blood Cells

• By End User: Hospitals, Ambulatory Surgical Centers, Clinics, Pharmaceutical Companies

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the blood bank market.

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Blood Bank Market Key Players
Major competitors in the blood bank market are American Association of Blood Banks (AABB), Blood Bank of Alaska, Canadian Blood Services, The Japanese Red Cross Society, New York Blood Center, NHS Blood And Transplant, Sanquin Blood Supply Foundation, The American Red Cross, Vitalant, America's Blood Centers.

The Business Research Company's "Global Blood Bank Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.

The Table Of Content For The Blood Bank Market Include:
1. Executive Summary
2. Blood Bank Market Characteristics
3. Blood Bank Market Trends And Strategies
4. Blood Bank Market - Macro Economic Scenario
5. Blood Bank Market Size And Growth
………………
27. Blood Bank Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Blood Bank Market
29. Blood Bank Market Future Outlook and Potential Analysis
30. Appendix

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