The Global Blood Banking Equipment Market Size is anticipated to be worth around US$ 14.8 billion in 2022, according to Future Market Insights. Revenues are expected to grow at a CAGR of 4.7% from 2022 to 2032, reaching US$ 23.4 billion in 2032, according to the report.
The growing number of surgical procedures and accidents has resulted in an increase in demand for blood components, providing a major challenge to blood banks and hospitals around the world. With over 70,000 A&E cases documented in the country in 2019, the number of operations performed in the UK has constantly climbed, indicating a likely growth in demand for Blood Banking Equipment and goods.
Increasing blood donation awareness has become a primary goal for blood transfusion centres, and governments throughout the world are offering a variety of appealing reimbursement options to encourage volunteer donors to donate blood.
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The AABB advocates for wide insurance coverage and appealing reimbursement options to increase patient access to blood products, transfusion services, and cellular therapies. Such policies established by developing economies have the potential to significantly boost the growth of the Blood Banking Equipment market in the coming years.
The rise of the Blood Banking Equipment market is primarily driven by the automation of blood bank facilities, the growing popularity of mobile blood drives and camps, government help and initiatives, and an increasing number of blood donors.
Key Takeaways
- Blood collection products are estimated to account for 35.8% of the market in 2022, with a CAGR of 4.8% during the forecast period.
- In 2021, hospitals would hold 53.3% of the Blood Banking Equipment market.
- North America is expected to be the most dominant region by the end of the projection period, with a value share of 26.2%.
- During the assessment period, India is predicted to lead the growth in the South Asian Blood Banking Equipment market.
“Rising prevalence of chronic blood-related disorders, along with increasing trend of blood donation drives will fuel the Blood Banking Equipment market over the forecast period,” says an analyst of Future Market Insights.
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Market Competition
Key Players:
- Medsurg
- Hamilton Syringes & Needles
- Hi-Tech Medicare Devices
- Abbott Laboratories
- Beckman Coulter, Inc.
- Becton, Dickinson and Company
- bioMérieux SA
- Bio-Rad Laboratories, Inc.
- Cerus Corporation
- CSL Behring LLC
- Fresenius Kabi AG
- Others
Acquisitions, partnerships, recognition and product launches are the key strategies adopted by manufacturers and integrators to increase the consumer base in different geographies.
- Blood Collection: BD acquired Velano Vascular in July 2021 with the goal of adding breakthrough needle-free blood draw technology to alleviate the pain and discomfort of multiple needlesticks.
- Blood Processing: The novel plasma collection system developed by Terumo Blood and Cell Technologies received FDA approval in March 2022. Rika is a next-generation automated system that focuses on plasma centre personnel and donors’ experiences. It has safety features to reduce operator mistakes and harvests plasma in under 35 minutes.
Want More Insights
The North American region is the largest Blood Collection Devices Market due to the presence of a well-established healthcare infrastructure and a high demand for advanced medical devices.
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Key Market Segments Covered in Blood Banking Equipment Industry Research
By Product:
- Blood Collection
- Blood Collection Sets
- Blood Bag Tube Sealer
- Blood Collection Mixer
- Blood Bags
- Reagents
- Lancets
- Others
- Blood Processing
- Centrifuges
- Blood Filters
- Blood Bank Analysers
- Blood Warmers
- Plasma Thawing Baths
- Blood Storage
- Blood Bank Refrigerators
- Blood Bank Freezers
- Test Tube Racks
- Others
By End User:
- Hospitals
- Blood Banks
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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