Discover trends, market shifts, and competitive outlooks for the blood bank industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

How Fast Is The Blood Bank Market Expected to Grow Between 2025 And 2029?

The size of the blood bank market has witnessed significant growth over the past few years. It is expected to increase from $18.1 billion in 2024 to $19.18 billion in 2025, representing a compound annual growth rate (CAGR) of 5.9%. Factors contributing to the growth during the historic period include a rise in trauma incidents, surgical procedures, blood conditions, chronic diseases, and maternal health issues.

The size of the blood bank market is anticipated to witness substantial expansion in the forthcoming years. It is projected to reach $25.18 billion by 2029, with a 7.0% compound annual growth rate (CAGR). The projected growth during this period is due to factors such as the expansion in emerging markets, the advent of telemedicine and remote blood banking, gene editing and therapies, worldwide health crises, and the increasing aging population. Key trends anticipated during this period encompass diversification of the donor pool, review programs for blood utilization, extended cord blood banking services, implementation of blockchain for tracking blood supply, and advanced technologies for blood processing.

Download a free sample to assess the report’s scope and structure:

https://www.thebusinessresearchcompany.com/sample.aspx?id=9837&type=smp

How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Blood Bank Market?

The blood bank market is anticipated to expand due to an increasing number of accidents. This escalation in accidents implies a surge in unforeseen incidents resulting in injuries, destruction, or loss of life, encompassing a broad array of mishaps including auto accidents and workplace calamities. The escalating accidents often amplify the demand for immediate blood transfusions to address injuries, compensate for blood lost, and uphold suitable circulation caused by accidents. For instance, blood banks played a crucial role in June 2022, according to a study released by the World Health Organization (WHO), a Swiss international public health body in charge of public health initiatives. The research showed road traffic accidents were responsible for around 1.3 million fatalities, and non-fatal wounds impacted 20 to 50 million individuals. Moreover, over 90 percent of road traffic deaths happened in low- to middle-income nations. Therefore, the growing occurrence of accidents stands as a significant driver of the blood bank market.

Which Segments in the Blood Bank Offer the Most Growth?

The blood bank market covered in this report is segmented –

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

Subsegments:

1) By Private Blood Bank: Commercial Blood Banks, Specialty Blood Banks

2) By Public Blood Bank: Government-Funded Blood Banks, Non-Profit Blood Banks

Request customized data on this market:

https://www.thebusinessresearchcompany.com/customise?id=9837&type=smp

What Are the Fastest-Growing Geographies in the Blood Bank Market?

North America was the largest region in the blood bank market in 2024. Asia-Pacific is expected to be the fastest-growing region in the blood bank market report during the forecast period. The regions covered in the blood bank market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What Are the Current Market Growth and Trends in the Blood Bank Industry?

The adoption of innovative technologies is a significant trend observed in the blood bank industry. Leading Corporations involved in blood collection and preservation are introducing cutting-edge technology to cater to the rapidly expanding market demand and to strengthen their global business reach. For instance, Abbott Laboratories, a multinational firm based in the US that specializes in medical devices and healthcare, collaborated with Blood Centers of America, an independent, U.S-based blood center, in January 2023. They introduced a mixed reality application infused with Abbott’s technology. This consumer-centric application is employed during blood donations with the aim to streamline the blood donation procedure. It also seeks to attract new donors and encourage the younger population to engage in blood donation.

View the full report here:

https://www.thebusinessresearchcompany.com/report/blood-bank-global-market-report

What Are the Key Elements That Define the Blood Bank Market?

A blood bank refers to a facility or organization that collects, tests, processes, and stores donated blood for use in transfusions or other medical procedures. This provide a safe and dependable source of blood for patients who need transfusions as a result of surgery, injury, or medical conditions.

Purchase the full report and get a swift delivery:

https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=9837

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Get in touch with us:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model