Global Blood Banking Equipment Market Set to Reach USD 25,591.4 Million by 2034 Amid Rising Demand for Advanced Healthcare Solutions | FMI

The global blood banking equipment market is on track for significant expansion, with sales expected to climb from USD 16,322.1 million in 2024 to USD 25,591.4 million by 2034, reflecting a 4.6% compound annual growth rate (CAGR) over the forecast period. The industry, which generated USD 15,604.3 million in 2023, is projected to witness a year-on-year growth of 4.7% in 2024.

Blood banking equipment is an essential component of the healthcare sector, enabling the safe collection, processing, storage, and distribution of blood for various medical applications. These systems play a critical role in ensuring a reliable blood supply for life-saving treatments, surgeries, and emergency medical care.

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The market’s growth is driven by advancements in transfusion medicine, increasing demand for blood donations, and the rising prevalence of chronic diseases requiring blood transfusions. Additionally, the adoption of automated blood processing technologies and stringent regulatory standards for blood safety are further fueling demand for innovative blood banking solutions.

As healthcare systems worldwide prioritize efficiency and patient safety, the demand for state-of-the-art blood storage, testing, and transfusion technologies is set to surge. The expanding role of blood banks in pandemic preparedness, trauma care, and regenerative medicine also underscores the market’s long-term growth potential.

With a steady trajectory and increasing technological advancements, the blood banking equipment market presents significant opportunities for industry stakeholders, including manufacturers, healthcare providers, and regulatory bodies.

Key Takeaways:

• India is projected to have the highest CAGR (5.3%), indicating significant growth potential in the BPC market over the next decade.
• China is also expected to experience substantial growth with a CAGR of 4.7%.
• South Korea and Spain are projected to have CAGRs of 3.7% and 2.7%, respectively, indicating moderate growth.
• Australia and Japan are expected to have similar CAGRs of 2.2% and 1.9%, respectively.
• The UK is projected to have the lowest CAGR (1.7%) among the listed countries.

Overall, the BPC market in these countries is expected to grow steadily over the next decade, driven by factors such as increasing disposable incomes, growing middle class, and rising consumer awareness of personal care and beauty products.

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Competitive Landscape:

The blood banking equipment sector is witnessing significant investments in research and development. Key players in the industry are also prioritizing the organization of blood donation drives and awareness campaigns to enhance their brand visibility. A crucial strategic focus for these companies involves seeking strategic collaborations to strengthen their product offerings and broaden their global market reach.

Recent Developments in the Blood Banking Equipment Market:

• In June 2024, Fresenius Kabi conducted blood donation activities across multiple cities in China and initiated similar campaigns in various other countries to promote blood donation awareness.
• In December 2023, BD received FDA clearance for its MiniDraw Capillary Blood Collection System, marking an important expansion of its product portfolio in the market.

Key Players of Blood Banking Equipment Industry:

• Medtronic
• BD Medical
• Boston Scientific Corporation
• Argon Medical Devices
• Novo Nordisk
• Terumo Corporation
• NIPRO Medical
• B. Braun
• Cardinal Health
• Hi-Tech Medicare Devices
• Abbott Laboratories
• Beckman Coulter, Inc.
• bioMérieux SA
• Bio-Rad Laboratories, Inc.

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Key Segments of Blood Banking Equipment Industry:

By Product:

In terms of Product, the industry is divided into blood collection (blood collection sets, blood bag tube sealer, blood collection mixer, blood bags, reagents, lancets and others), blood processing (centrifuges, blood filters, blood bank analysers, blood warmers and plasma thawing baths), blood storage (blood bank refrigerators, blood bank freezers and test tube racks) and others

By End-User:

The industry is classified by end user as blood banking equipment for hospitals, and blood banks.

By Region:

Key countries of North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and Middle East and Africa (MEA) have been covered in the report.

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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