The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s blood bank market report forecasts the blood bank market size to grow to $21.18 Billion by 2027, with a CAGR (compound annual growth rate) of more than 5%.

Learn More On The Blood Bank Market Report 2023 – https://www.thebusinessresearchcompany.com/report/blood-bank-global-market-report

Blood Bank Market Size Forecast
The global blood bank market is expected to grow from $15.96 billion in 2022 to $16.95 billion in 2023 at a compound annual growth rate (CAGR) of 6.17%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global blood bank market size is expected to reach $21.18 billion in 2027 at a CAGR of 5.74%.

North America held the largest blood bank market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Blood Bank Market Driver ­– Rise In Number Of Accidents
According to a June 2022 article published by the World Health Organisation (WHO), a Switzerland-based international public health agency responsible for public health efforts, road traffic crashes killed approximately 1.3 million people and injured 20 to 50 million more. Furthermore, low- and middle-income countries account for more than 90 percent of road traffic fatalities. As a result, the increasing number of accidents will propel the blood bank market.

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Key Blood Bank Market Trend – Technological Advancement
Major blood collection and storage companies are creating innovative technologies to fulfil the fast-growing industry demand and expand their global corporate presence. For example, in January 2023, Abbott Laboratories, a global medical device and health care corporation located in the United States, joined with Blood Centres of America, a US-based independent blood centre, to introduce a mixed reality application including Abbott technology. During blood donation, the new consumer-focused application is used. The digital experience is meant to improve the blood donation procedure, attract new donors, and inspire the next generation of blood donors.

Blood Bank Market Segment
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

Blood Bank Market Major Players and Strategies
Major players in the blood bank market are American Association of Blood Banks (AABB), 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 (NBTC) and Shire Plc.

BioIVT, a biospecimens, research models, and services supplier based in the United States, bought Tennessee Blood Services (TBS) for an unknown sum in April 2022. BioIVT hopes to gain control of its own supply chain for normal blood products and manage its ninth blood donor centre as a result of this acquisition. Tennessee Blood Services (TBS) is a commercial blood bank situated in the United States that specialises in whole blood and blood products for diagnostic purposes.

The Blood Bank Global Market Report 2023 covers regional data on blood bank market size, blood bank market trends and drivers, opportunities, strategies, and blood bank market competitor analysis. The countries covered in the blood bank market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

A blood bank is a facility or organisation that collects, examines, processes, and stores donated blood in preparation for transfusions or other medical operations. This provides a reliable and safe source of blood for individuals who require transfusions due to surgery, accident, or other issues.

View More Reports Related To The Blood Bank Market –
Blood Transfusion Diagnostics Global Market Report 2023
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