Blood Bank Equipment Market Records CAGR of

NEWARK, Del, June 13, 2022 (GLOBE NEWSWIRE) — According to Future Market Insights, the global blood bank equipment market has a valuation of approximately $14.2 Bn in 2021. According to the study, sales are expected to increase at a CAGR of 4.7% over the forecast period (2022-2032), exceeding $23.4 Bn in 2032.

Blood component requirements due to increased surgeries and accidents have always been a concern for blood banks and hospitals. In the UK, the number of surgeries has increased in recent years. About 70,000 A&E cases were recorded in 2019 in the country. Such cases will mainly require surgical interventions, which in turn will require more equipment and products for blood banks.

Raising blood donation awareness is the top priority of all blood transfusion centers. To address this issue, governments around the world are offering several attractive reimbursement options to voluntary donors.

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For example, the AABB promotes comprehensive insurance coverage and offers lucrative reimbursement that will support patient access to blood products, transfusion services and cell therapies. The blood bank equipment market will witness immense growth in the coming years if such policies are also implemented by developing economies.

The development of the blood bank equipment market is driven by the automation of blood bank centers, the rising trend of mobile blood drives/camps, government support and initiatives, and an increasing number of blood donors.

Key points to remember

  • Blood collection products should contain a 35.8% market share in 2022 and are expected to show CAGR growth of 4.8% over the forecast period.
  • Hospitals hold a higher market share of blood bank equipment worth around 53.3% in 2021.
  • North America is expected to be the largest leading region with a value share of 26.2% at the end of the forecast period
  • India is expected to lead the growth of blood bank equipment market in South Asia over the assessment period.

“The growing prevalence of chronic blood-related disorders, along with the rising trend of blood donation campaigns will drive the blood bank equipment market over the forecast period,” says an analyst from Future Market Insights.

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Market competition

Acquisitions, partnerships, recognition and product launches are the key strategies adopted by manufacturers and integrators to increase the consumer base in different geographies.

  • Blood collect: BD acquired Velano Vascular in July 2021 to add breakthrough needleless blood collection technology to relieve the pain and discomfort of multiple needle sticks.
  • Blood treatment: The new 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 the experiences of plasma center staff and donors . It has safety features to reduce operator error and harvests plasma in less than 35 minutes.

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Future Market Insights brings a comprehensive research report on projected revenue growth at global, regional and country levels and provides analysis of latest industry trends in each of the sub-segments from 2017 to 2032. blood bank is segmented in detail to cover all aspects of the market and present a complete market intelligence approach to the reader. The study provides compelling insights into Blood Banking Equipment market segment based on Product – (Blood Collection [blood collection sets, blood bag tube sealer, blood collection mixer, blood bags, reagents, lancets, and others]blood treatment [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) and the end user (hospitals and blood banks), in seven major regions.

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Key Market Segments Covered by Blood Bank Equipment Industry Research

By product:

  • blood collection
    • Blood collection kits
    • Blood Bag Tube Sealer
    • Blood collection mixer
    • blood bags
    • Reagents
    • Lancets
    • Others
  • Blood treatment
    • Centrifuges
    • Blood filters
    • Blood bank analyzers
    • blood warmers
    • Plasma Thawing Baths
  • Blood storage
    • Blood bank refrigerators
    • blood bank freezers
    • Test tube racks
  • Others

Per end user:

1. Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply-side trends

1.4. Analysis and recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

2.3. Inclusions and exclusions

3. Key Market Trends

3.1. Key trends impacting the market

3.2. Product Innovation / Development Trends

4. Value Added Information

4.1. Main promotional strategies, by main manufacturers

4.2. Regulatory scenario

4.3. Refund scenario

4.4. Porter’s analysis

4.5. PESTLE analysis

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Future Market Outlook (ESOMAR-certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive 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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