2025 Blood Bank Industry Trends Report: Long-Term Outlook Through 2034

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How Large Will the Blood Bank Market Size By 2025?
The size of the blood bank market has seen robust growth in the past few years. It is projected to increase from $18.1 billion in 2024 to $19.18 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.9%. The historical growth of this market can be credited to a rise in trauma cases, medical surgeries, blood diseases, chronic illnesses, and maternal health concerns.

How Big Is the Blood Bank Market Size Expected to Grow by 2029?
Anticipated to experience significant expansion in the coming years, the blood bank market is projected to soar to $25.18 billion by 2029, boasting a compound annual growth rate (CAGR) of 7.0%. Factors contributing to this predicted growth during the forecast period include the widening of markets in emerging countries, advent of telemedicine and distanced blood banking, advancements in gene editing and therapies, global health crises, and the increasing population of aged individuals. Notable trends during the forecast period encompass the diversification of the donor pool, the introduction of blood utilization review programs, the expansion of cord blood banking, the application of blockchain in tracking blood supply, and innovations in blood processing technologies.

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Which Key Market Drivers Powering Blood Bank Market Expansion and Growth?
The growth of the blood bank market is anticipated to be driven by the escalating count of accidents. This escalation pertains to the surge in unexpected incidents causing injury, loss of life, or damage, encompassing a broad array of mishaps like car collisions and occupational hazards. There is a direct correlation between the rising count of accidents and the heightened demand for immediate blood transfusions aimed at managing injuries, offsetting blood deprivation, and upkeeping proper circulation caused by these incidents. As an illustration, a World Health Organization (WHO) article published in June 2022 denoted that road traffic crashes led to roughly 1.3 million deaths, while non-fatal casualties were responsible for 20 to 50 million people. Additionally, over 90 percent of these road traffic mortality cases were witnessed in low- and mid-income nations. Thus, the blood bank market is projected to be propelled by the increasing rate of accidents.

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Which Fast-Growing Trends Are Poised to Disrupt the Blood Bank Market?
The development of innovative technologies is emerging as a main trend within the blood bank market. Key companies involved in blood gathering and storage activities are inventing and implementing new technologies in an effort to meet the rapidly growing demands of the industry, and to strengthen their global business footprint. For example, Abbott Laboratories, a multinational medical device and health care company based in the U.S., collaborated with Blood Centers of America, an independent U.S. blood center, in January 2023 to initiate a mixed reality application loaded with Abbott technology. This novel application, which is used throughout the blood donation process, is consumer-centric and designed to enhance the overall blood donation experience. The goal is to attract new donors and inspire younger generations to contribute to blood donations.

What Are the Emerging Segments in the Blood Bank Market?
The blood bank market covered in this report is segmented -

1) By Bank Type: Private Blood Bank, Public Blood Bank
2) By Function: Collection, Processing, Testing, Storage, Transportation
3) By Product Type: Whole Blood, Red Blood Cells, Platelet, Plasma, White Blood Cells
4) By End User: Hospitals, Ambulatory Surgical Centers, Clinics, Pharmaceutical Companies

Subsegments:
1) By Private Blood Bank: Commercial Blood Banks, Specialty Blood Banks
2) By Public Blood Bank: Government-Funded Blood Banks, Non-Profit Blood Banks

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Who Are the Global Leaders in the Blood Bank Market?
Major companies operating in the blood bank market include American Association of Blood Banks, 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, Australian Red Cross, Terumo Corporation, Haemonetics Corporation, National Blood Transfusion Council, Shire Plc, Abbott, Beckman Coulter Inc., Polymedicure, Thermo Fisher Scientific Inc., Becton Dickinson and Company, Bio-Rad Laboratories Inc., F. Hoffman La Roche, Siemens Healthcare Private Limited, BioMérieux, CSL Behring, Takeda, Octapharma, Kedrion, Macopharma, Fresenius Kabi AG, B. Braun Melsungen AG, Grifols SA, Hologic Inc., Ortho Clinical Diagnostics, Merck KGaA, Roche Diagnostics, Quotient Limited

Which are the Top Profitable Regional Markets for the Blood Bank Industry?
North America was the largest region in the blood bank market in 2024. Asia-Pacific is expected to be the fastest-growing region in the blood bank market report during the forecast period. The regions covered in the blood bank market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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