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Key Influencer in the Blood Bank Information Systems Market 2025: Blood Cancer Propel Growth Of The Blood Bank Information Systems Market Driver
Blood Bank Information Systems Market Segments
In recent times, there has been a robust growth in the market size of blood bank information systems. The market is projected to expand from a size of $0.78 billion in 2024 to $0.85 billion in 2025, growing at a compound annual growth rate (CAGR) of 8.6%. The substantial growth experienced in the past can be attributed to factors such as the increased requirement for blood transfusion, a surge in chronic illnesses, regulatory necessities, the imperative for effective blood management, and an uptick in surgical procedures.
The market size of blood bank information systems is anticipated to witness robust growth in the upcoming years. It is projected to escalate to $1.17 billion by 2029, with a compound annual growth rate (CAGR) of 8.4%. The anticipated growth during the forecasted period can be accredited to factors such as the incorporation with electronic health records, growing emphasis on patient security, a surge in blood donation drives, development in emerging markets, and improved data analytics capabilities. Key trends during the projected period consist of integration with electronic health records, increased automation in blood accumulation, application of blockchain technology, focus on data confidentiality and security, and enhancement of user interfaces.
What Factors Are Propelling the Expansion of the Blood Bank Information Systems Market?
The blood bank information systems market is anticipated to grow due to the escalating occurrence of blood cancer. Blood cancer, otherwise referred to as hematologic cancer, impacts the blood, bone marrow, and lymphatic system. The rising instances of blood cancer can be attributed to various factors, including environmental and genetic components, lifestyle considerations, and infections. A blood bank information system proves beneficial to blood cancer patients by effectively managing and recording blood donations and transfusions, ensuring prompt availability of compatible blood products. For example, the Leukemia Foundation, an Australian national charity, projected in May 2024 that roughly 19,403 Australians were expected to be diagnosed with blood cancers such as leukemia, lymphoma, and myeloma, equating to 53 individuals per day or one person every 27 minutes. At present, approximately 135,000 individuals in Australia live with a blood cancer or blood disorder, and this figure is projected to surge to over 275,000 by 2035. As such, the increasing occurrence of blood cancer is fuelling the expansion of the blood bank information systems market.
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Which Businesses Are at the Forefront of Blood Bank Information Systems Market Development?
Major companies operating in the blood bank information systems market are Grifols S.A., Sysmex Corporation, Epic Systems Corporation, Haemonetics Corporation, Sunquest Information Systems Inc., WellSky Technologies Inc., Soft Computer Consultants Inc., LABVANTAGE Solutions Inc., Integrated Medical Systems International Inc., Luminous Infoways Pvt. Ltd., Mediware Information Systems Inc., Mak-System, Orchard Software Corporation, Dataman Computer Systems Pvt. Ltd., Hemosoft, Slashdot Media Inc., Blood Bank Computer Systems Inc., Strides Software Solutions Pvt Ltd, Sara Technologies Pvt. Ltd., IT Synergistics Inc., Digi-Trax Corporation
What Are the Latest Innovations in the Blood Bank Information Systems Market?
Leading firms present in the blood bank information systems market are prioritizing the creation of innovative solutions like ERP software, tailored to address the specific needs of blood banks and advanced therapy providers. The purpose of ERP software is to merge core business operations into one system, with the intention of optimizing procedures and improving the management of data. For example, in the month of June 2023, the US oriented company, Blood Bank Computer Systems Inc., known for their prowess in software solutions specifically for blood banks and transfusion services, introduced the ForLife Biologics Platform. This top-of-the-line ERP software is custom-built for the blood and biotherapies industry. The main objective of the platform is to optimize operations concerned with the collection, production and distribution of blood products and advanced therapies, keeping in mind the distinctive needs of organizations in this industry. The ForLife Biologics Platform melds flawlessly with the Blood Bank Control System 6.0, which has been granted clearance by the appropriate regulatory authority, thereby ensuring it meets the mandatory standards for blood bank operations.
How Is the Blood Bank Information Systems Market Segmented?
The blood bank information systemsmarket covered in this report is segmented -
1) By Type: Blood Donor Management Module, Blood Bank Transfusion Service Module, Other Types
2) By Application Type: Web-Based, Mobile Based
3) By End User: Hospital, Blood Banks
Subsegments:
1) By Blood Donor Management Module: Donor Registration and Screening, Donor Health History Management, Blood Donation Scheduling and Tracking, Donor Testing and Blood Typing, Donor Retention and Engagement, Donor Communication and Alerts
2) By Blood Bank Transfusion Service Module: Blood Collection and Processing, Blood Inventory Management, Crossmatching and Compatibility Testing, Blood Transfusion Monitoring and Tracking, Transfusion Reporting and Documentation, Patient Blood Management
3) By Other Types: Laboratory Information Management Systems (LIMS), Blood Bank Workflow Automation Tools, Regulatory Compliance and Reporting Tools, Clinical Decision Support Systems (CDSS) for Blood Transfusion, Data Analytics and Reporting Tools.
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Where Is the Blood Bank Information Systems Market Growth Most Prominent?
North America was the largest region in the blood bank information systems market in 2024. The regions covered in the blood bank information systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Blood Bank Information Systems Global Market Report?
- Market Size Analysis: Analyze the Blood Bank Information Systems Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Blood Bank Information Systems Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Blood Bank Information Systems Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Blood Bank Information Systems Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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