The Blood Banking Equipment Market is projected to reach $24.26 billion by 2030, at a CAGR of 4.6% from 2024 to 2030. Traditionally, a blood bank accumulates, segregates, tests, and stores blood and blood products until patients' requirements. Blood banking equipment is used in these blood banks to preserve and store human blood and blood products. This blood banking equipment market report covers blood collection equipment, blood processing equipment, and blood storage equipment offered by market players for use in blood banks and hospitals. Blood banking equipment can be manual or automated.
The growth of this market is driven by the rising demand for blood and blood-related products, the increasing number of surgical procedures being performed globally, and technological advancements and automation in blood banking devices. In addition, untapped opportunities in emerging countries and the supportive initiatives to promote blood transfusion offer significant opportunities for the growth of this market.
Growing Requirement for Blood and Blood-related Products Coupled with Supportive Initiatives for Blood Donations to Drive the Demand for Blood Banking Equipment Market
The demand for whole blood and blood components such as red cells, plasma, and platelets is rising for applications in chronic medical conditions, cancer, trauma care, surgeries, childbirth, and organ transplantation. For instance, according to data released by the International Agency for Research on Cancer, 475,000 new leukemia cases were diagnosed globally in 2020. This number is expected to reach 647,000 by 2040.
The rising demand for blood or blood-related products is attributed to increasing target disease prevalence and accidents. For instance, as per the data published by the United Nations in December 2021, road accidents lead to 50 million injuries worldwide. Thus, the growing blood transfusion requirements have resulted in the launch of several initiatives to promote blood donations. For instance, the American Red Cross launched its new national initiative in September 2021 to promote blood donations for patients with sickle cell disease.
Furthermore, major market players are launching blood collection and processing devices to meet the growing demand for blood and blood products. For instance, in October 2021, Capitainer AB, a Swedish MedTech company, launched a new self-sampling card called Capitainer B 50 to store blood.
Click here to: Get a Free Sample Copy of this report
Key Findings in the Blood Banking Equipment Market Study:
In 2024, the Blood Collection Equipment Segment is Expected to Account for the Largest Share of the Market
Based on product type, in 2024, the blood collection equipment segment is expected to account for the largest share of the blood banking equipment market. The large market share of this segment is attributed to the increasing incidence of trauma & accidents, the increasing number of surgical procedures being performed globally, and the rising prevalence of chronic diseases. Blood banks are involved in various tasks, including blood donations, storage, and transportation, blood typing during transfusion, and blood testing.
Manual Blood Banking Equipment Segment to Largest Share of the Blood Banking Equipment in 2024
Based on the functionality, the blood banking equipment market is segmented into automated blood banking equipment and manual blood banking equipment. In 2024, the manual blood banking equipment segment is expected to account for the largest share of the blood banking equipment market. The large market share of this segment is attributed to the benefits offered by manual equipment, such as low cost, less time for training the staff, and ease of use, resulting in increased adoption. Manual blood processing devices such as analyzers or fractionators require less time and low cost in training lab personnel, making it an economically viable choice for blood banks.
Blood Banks Segment to Account for the Largest Share of the Blood Banking Equipment Market in 2024
Based on end user, in 2024, the blood banks segment is expected to account for the largest share of the blood banking equipment market. The large market share of this segment is attributed to the technological advancements and automation in blood banking devices, supportive initiatives to promote blood donations or blood-related components and the increase in funding in blood banks for acquiring advanced equipment.
North America to Dominate the Market in 2024
In 2024, North America is expected to account for the largest share of the blood banking equipment market. North America’s major market share is attributed to the presence of several leading market players and the high rate of self-donations and blood transfusions. Furthermore, high spending on healthcare and the availability of advanced infrastructure for the expansion of blood banks contribute to the growth of this regional market.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market participants between last three years. The key players profiled in the blood banking equipment market report are Abbott Laboratories (U.S.), F. Hoffman-La Roche Ltd. (Switzerland), Thermo Fisher Scientific Inc. (U.S.), Danaher Corporation (U.S.), Fresenius Kabi AG (Germany), Becton, Dickinson and Company (U.S.), Terumo Corporation (Japan), Bio-Rad Laboratories, Inc. (U.S.), bioMérieux SA (France), HORIBA, Ltd. (Japan), Mindray Bio-Medical Electronics Co, Ltd (U.S.), Sysmex Corporation (Japan), and Hamilton Bonaduz AG (Switzerland).
Scope of the Report:
Blood Banking Equipment Market, by Product
- Blood Collection Equipment
- Needles
- Tubes
- Syringes
- Blood Bags
- Lancets
- IV Cannulas
- Vials
- Other Collection Equipment
(Note: Other collection equipment includes reagents, tube sealers, and collection monitors)
- Blood Processing Equipment
- Centrifuges
- Blood Filters
- Blood Analyzers
- Blood Processors
- Other Processing Equipment
(Note: Other processing equipment include blood warmers, sedimentation tubes, and plasma thawing bags)
- Blood Storage Equipment
- Blood Bank Refrigerators
- Blood Bank Freezers
- Test Tube Racks
Blood Banking Equipment Market, by Functionality
- Automated Blood Banking Equipment
- Manual Blood Banking Equipment
Blood Banking Equipment Market, by End User
Blood Banking Equipment Market, by Geography
- North America
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
Key questions answered in the report:
