Blood Bank Market Poised to Reach $21.86 Billion by 2027, Driven by Impressive 6.4% CAGR: AMR

Allied Market Research published a report, titled, “𝐁𝐥𝐨𝐨𝐝 𝐁𝐚𝐧𝐤 𝐌𝐚𝐫𝐤𝐞𝐭 𝐛𝐲 𝐓𝐲𝐩𝐞 (𝐖𝐡𝐨𝐥𝐞 𝐁𝐥𝐨𝐨𝐝, 𝐑𝐞𝐝 𝐁𝐥𝐨𝐨𝐝 𝐂𝐞𝐥𝐥𝐬, 𝐏𝐥𝐚𝐭𝐞𝐥𝐞𝐭𝐬, 𝐏𝐥𝐚𝐬𝐦𝐚, 𝐚𝐧𝐝 𝐖𝐡𝐢𝐭𝐞 𝐁𝐥𝐨𝐨𝐝 𝐂𝐞𝐥𝐥𝐬), 𝐅𝐮𝐧𝐜𝐭𝐢𝐨𝐧 (𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧, 𝐏𝐫𝐨𝐜𝐞𝐬𝐬𝐢𝐧𝐠, 𝐓𝐞𝐬𝐭𝐢𝐧𝐠, 𝐒𝐭𝐨𝐫𝐚𝐠𝐞, 𝐚𝐧𝐝 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐚𝐭𝐢𝐨𝐧), 𝐁𝐚𝐧𝐤 𝐓𝐲𝐩𝐞 (𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐚𝐧𝐝 𝐏𝐮𝐛𝐥𝐢𝐜), 𝐚𝐧𝐝 𝐄𝐧𝐝 𝐔𝐬𝐞𝐫 (𝐇𝐨𝐬𝐩𝐢𝐭𝐚𝐥, 𝐀𝐦𝐛𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐒𝐮𝐫𝐠𝐞𝐫𝐲 𝐂𝐞𝐧𝐭𝐞𝐫𝐬, 𝐏𝐡𝐚𝐫𝐦𝐚𝐜𝐞𝐮𝐭𝐢𝐜𝐚𝐥 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬, 𝐂𝐥𝐢𝐧𝐢𝐜𝐬 & 𝐍𝐮𝐫𝐬𝐢𝐧𝐠 𝐇𝐨𝐦𝐞𝐬, 𝐚𝐧𝐝 𝐎𝐭𝐡𝐞𝐫𝐬): 𝐆𝐥𝐨𝐛𝐚𝐥 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭, 𝟐𝟎𝟐𝟎–𝟐𝟎𝟐𝟕.” The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

According to the report, the global 𝐁𝐥𝐨𝐨𝐝 𝐁𝐚𝐧𝐤 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐳𝐞 was Valued at 𝐔𝐒𝐃 𝟏𝟑.𝟖𝟓 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟏𝟗 and is Projected to Garner 𝐔𝐒𝐃 𝟐𝟏.𝟖𝟔 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟐𝟕, registering a 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟓.𝟕% from 2020 to 2027.

Increase in prevalence of hematologic diseases, surge in number of accidents, and rise in geriatric population propel the growth of the global blood bank market.Asia-Pacific is expected to witness the highest CAGR of 6.4% from 2020 to 2027.Governments, hospitals, and blood banks have been appealing patients who recovered from Covid-19 to donate their plasma as it contains Covid-19 antibodies that help recovering patients to fight against the disease.

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𝐓𝐨𝐩 𝐁𝐥𝐨𝐨𝐝 𝐁𝐚𝐧𝐤 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬

• The American Red Cross
• Vitalant
• New York Blood Centre
• Australian Red Cross
• Japan Red Cross Society
• American Association of Blood Banks
• America’s Blood Centers
• Canadian Blood Services
• Sanquin Blood Supply Foundation
• Blood Bank of Alaska

 𝐁𝐥𝐨𝐨𝐝 𝐁𝐚𝐧𝐤 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧: –

 Based on product type, the red blood cell segment accounted for nearly two-fifths of the global blood bank market in 2019, and is expected to maintain its lead status in terms of revenue throughout the forecast period. This is due to high demand for transfusion of red blood cells over whole blood in patients suffering from anemia. In addition, rise in demand of red blood cell for cases of excessive bleeding due to trauma, surgery or childbirth further augments the growth of the segment. However, the platelet segment is estimated to portray the highest CAGR of 7.5% from 2020 to 2027, owing to high prevalence of dengue in tropical countries and increase in the adoption of modern treatment of hypo proliferative thrombocytopenia.

Based on function, the testing segment contributed to the highest market share with nearly one-third of the global blood bank market in 2019, and is estimated to maintain its leadership position during the forecast period. This is attributed to high cost of screening tests of blood and its components as well as large number of diagnostic tests that are conducted during processing of blood. However, the collection segment is estimated to generate the fastest CAGR of 6.7% from 2020 to 2027. This is attributed to increase in demand for blood transfusion and rise in prevalence of hematological diseases globally.

Based on region, Europe accounted for the highest share based on revenue, holding for more than one-third of the global blood bank market in 2019, and is projected to maintain its dominant position throughout the forecast period. This is attributed to the well-established healthcare infrastructure, large number of diagnosed patients, rise in number of blood donations, and supportive healthcare policies. However, Asia-Pacific is estimated to portray the fastest CAGR of 6.4% from 2020 to 2027, owing to increase in demand for blood transfusion and introduction of supportive reimbursement policies by the healthcare system. In addition, North America is anticipated to register a CAGR of 5.0% during the forecast period.

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Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
• Which region has more opportunities?

By Region Outlook 

• North America
  (U.S., Canada, Mexico)
• Europe
  (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific
  (Japan, China, India, Rest of Asia-Pacific)
• LAMEA
  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.