Blood and Organ Bank Market to Grow Swiftly owing to Rising Number of Organ Donors, Says TMR

A new research report by Transparency Market Research briefs readers about the changing trends in the global blood and organ bank market. Blood, organ, and tissue banks, process, recover, distribute, and store different human organs, tissues, and bones for transplantation. Some of the banks also preserve human tissues and organs for research and for educational purposes. In the global blood and organ bank market, the eye banks are considered to be the most promising market, predicts the report’s authors.

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The report, titled “Blood and Organ Bank Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” focuses on the rising demand for blood and organ banks from hospitals, medical institutes, and operation theaters. As per the findings of the report, a single tissue or an organ donor has the capacity to save approximately 40 to 50 people. This marks the significance of blood, tissue, and organ banks. The rising number of blood and organ banks across the globe is predicted to propel the global market for blood and organ banks throughout the forecast period.

The report focuses on the rising number of emergency cases, accidents, and surgeries. Each year, million people undergo either transplantation of organs and tissues or undergo transfusion of blood components and blood. As per the World Health Organization, out of the total blood donations worldwide, 50% happen in high-income nations. In low-income nations, approximately 65% of blood transfusions are given to children aging below 5 years. In high-income nations, a maximum of blood transfusions is given to the elderly, aging above 65 years.

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The report lists key players operating in the global blood and organ bank market. The American Red Cross, Musculoskeletal Transplant Foundation, Inc., New England Organ Bank, NOTTO, 21st Century Medicine, Blood Systems, New York Blood Center, and The Living Bank are some of the key players operating in the global blood and organ bank market. Key players are concentrating on spreading their business and services across many regions. For a detailed competitive analysis, the global market for blood and organ bank is regionally divided into Europe, Asia Pacific, North America, and Rest of the World. At present, North America dominates the global market for blood and organ banks. Yearly, more than 120,000 Americans undergo organ replacement surgeries.

The rising number of people undergoing tissue and organ replacement surgeries is expected to propel the global blood and organ bank market.

The global blood and bank market has grown exceptionally well in the past few years owing to the developments in medical equipment and the healthcare infrastructure. As per the Organ Procurement and Transplantation Network, approximately 1 million people are on the waiting list of organ transplant. The rising number of organ donors is expected to increase the transplant procedures, which is likely to benefit the global market for blood and organ banks.

About us:
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.