Blood Banking
Blood Banking Market by Type (Cryoprecipitate, Granulocytes, Plasma), End-User (Blood Banks, Diagnostic Laboratories, Hospitals), Application, Product Nature, Storage, Component Collection, Donor Type, Processing Method - Global Forecast 2025-2030
SKU
MRR-434CCDA04D00
Region
Global
Publication Date
February 2025
Delivery
Immediate
2024
USD 16.89 billion
2025
USD 19.15 billion
2030
USD 35.36 billion
CAGR
13.09%

The Blood Banking Market size was estimated at USD 16.89 billion in 2024 and expected to reach USD 19.15 billion in 2025, at a CAGR 13.09% to reach USD 35.36 billion by 2030.

Blood Banking Market
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The blood banking industry encompasses the collection, processing, testing, storage, and distribution of blood and blood components such as red blood cells, platelets, and plasma. Blood banking is essential in healthcare for procedures such as surgeries, trauma care, cancer treatments, and managing blood disorders. The industry's applications are widespread across hospitals, diagnostic labs, and ambulatory surgical centers. The end-use scope extends beyond traditional clinical settings, with increasing use in advanced therapies like regenerative medicine and personalized treatments.

Market growth in the blood banking sector is significantly influenced by rising demand for blood and blood products due to the aging global population, increases in surgical procedures, and the incidence of chronic diseases. Technological advancements in blood storage and transfusion, along with increased awareness, are driving market expansion. However, challenges such as regulatory constraints, high operational costs, and risks of transfusion-transmitted infections pose limitations. Further, the COVID-19 pandemic highlighted the importance of maintaining blood supply chains, emphasizing innovations in collection and storage technologies.

Opportunities lie in the development of synthetic blood substitutes, advancements in pathogen reduction technologies, and enhanced blood type testing methods, particularly for rare blood types. Businesses can capitalize on these opportunities by investing in R&D and collaborating with tech companies to improve efficiency and safety in blood collection and transfusion processes. Innovations such as blockchain for traceability and AI for demand prediction offer significant growth potential. However, navigating these complex technologies demands robust investment and strategic partnerships.

To thrive, businesses should focus on expanding emerging markets, engaging in public awareness campaigns, and reinforcing relationships with healthcare providers. The market is increasingly competitive yet promising, characterized by technological integration and a drive toward more personalized and safe blood management solutions. By proactively addressing regulatory challenges and advancing innovative capabilities, companies can position themselves as leaders in the evolving blood banking landscape.

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Market Dynamics

The market dynamics represent an ever-changing landscape of the Blood Banking Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

  • Market Drivers
    • International collaborations and agreements enhancing global blood donation initiatives and storage
    • Rising prevalence of chronic diseases like leukemia and anemia requiring regular blood donations
    • Rising investments in research and development of novel anticoagulants and blood preservation solutions
  • Market Restraints
    • Key barriers restricting the scalability and sustainability of modern blood banking operations
    • Factors impeding the widespread adoption of advanced technology in blood banking facilities
    • Cost-related obstacles affecting budget allocations and funding in the blood banking sector
  • Market Opportunities
    • Expanding plasma fractionation capabilities to meet rising demands for plasma-derived therapies
    • Partnering with educational institutions to embed regular blood donation programs into their curriculums
    • Exploring the integration of smart wearable technologies for real-time donor health monitoring
  • Market Challenges
    • Managing operational costs while delivering affordable blood products to meet consumer expectations
    • Overcoming logistical challenges in distributing blood products swiftly to regions in urgent need
    • Addressing the threats of infectious disease outbreaks on blood safety and availability globally

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Blood Banking Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

PESTLE Analysis

The PESTLE analysis offers a comprehensive tool for understanding and analyzing the external macro-environmental factors that impact businesses within the Blood Banking Market. This framework examines Political, Economic, Social, Technological, Legal, and Environmental factors, providing companies with insights into how these elements influence their operations and strategic decisions. By using PESTLE analysis, businesses can identify potential opportunities and threats in the market, adapt to changes in the external environment, and make informed decisions that align with current and future conditions. This analysis helps companies anticipate shifts in regulation, consumer behavior, technology, and economic conditions, allowing them to better navigate risks and capitalize on emerging trends.

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Blood Banking Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Blood Banking Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Blood Banking Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Blood Banking Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, AMAG Pharmaceuticals, Inc., Americord Registry LLC, Beckman Coulter, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories Inc, bioMérieux SA, Cardinal Health, Inc, China Biologic Products, Inc., Cordlife Group Limited, F. Hoffmann-La Roche Ltd, Fresenius Kabi AG, Immucor, Inc., Johnson & Johnson, Krew Instruments Pvt Ltd, Macopharma SA, Narang Medical Limited, Remi Elektrotechnik Limited, Terumo BCT, Inc., Thermo Fisher Scientific Inc., and ViaCord LLC.

Market Segmentation & Coverage

This research report categorizes the Blood Banking Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Type
    • Cryoprecipitate
      • Factor VIII
      • Fibrinogen
      • Von Willebrand Factor
    • Granulocytes
    • Plasma
    • Platelet Concentrate
    • Red Blood Cells
    • Whole Blood
  • End-User
    • Blood Banks
    • Diagnostic Laboratories
    • Hospitals
      • Private Hospitals
      • Public Hospitals
    • Research Laboratories
      • Academic Institutions
      • Private Research Labs
  • Application
    • Anemia
    • Blood Disorders
      • Hemophilia
      • Sickle Cell Anemia
      • Thrombocytopenia
    • Cancer Treatment
      • Chemotherapy
      • Radiation Therapy
    • Trauma & Surgeries
  • Product Nature
    • Blood Substitute Products
    • Human-Derived
    • Synthetic Blood Products
  • Storage
    • Frozen
    • Liquid Storage
    • Refrigerated
  • Component Collection
    • Automated Collection
    • Manual Collection
  • Donor Type
    • Replacement Donors
    • Voluntary Donors
  • Processing Method
    • Irradiative Processing
    • Leukocyte Reduction
    • Pathogen Reduction
  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

This research report offers invaluable insights into various crucial aspects of the Blood Banking Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?
Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Blood Banking Market, by Type
  7. Blood Banking Market, by End-User
  8. Blood Banking Market, by Application
  9. Blood Banking Market, by Product Nature
  10. Blood Banking Market, by Storage
  11. Blood Banking Market, by Component Collection
  12. Blood Banking Market, by Donor Type
  13. Blood Banking Market, by Processing Method
  14. Americas Blood Banking Market
  15. Asia-Pacific Blood Banking Market
  16. Europe, Middle East & Africa Blood Banking Market
  17. Competitive Landscape
  18. List of Figures [Total: 33]
  19. List of Tables [Total: 597 ]
  20. List of Companies Mentioned [Total: 21]
360iResearch Analyst Ketan Rohom
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Frequently Asked Questions
  1. How big is the Blood Banking Market?
    Ans. The Global Blood Banking Market size was estimated at USD 16.89 billion in 2024 and expected to reach USD 19.15 billion in 2025.
  2. What is the Blood Banking Market growth?
    Ans. The Global Blood Banking Market to grow USD 35.36 billion by 2030, at a CAGR of 13.09%
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    Ans. Most reports are fulfilled immediately. In some cases, it could take up to 2 business days.
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