Blood Bank Market Poised for Strong growth from $18.1 billion in 2024 to $25.18 billion in 2029, Promising a CAGR of 7.0%

The global blood bank market has indeed shown a robust growth trend in recent years, escalating from $18.1 billion in 2024 to $19.18 billion in 2025. This corresponds to an impressive compound annual growth rate (CAGR) of 5.9%. Factors contributing to this growth include a rise in trauma cases, surgical procedures, blood disorders, chronic diseases, and maternal health.

Looking into the future, the blood bank market is predicted to sustain its growth momentum. It is anticipated to reach $25.18 billion in 2029, growing at a CAGR of 7.0%. The factors driving this projected growth include emerging market expansion, advancements in telemedicine and remote blood banking, gene editing therapies, tackling global health emergencies, and catering to the growing aging population. This growth will be further fueled by expanding donor pool diversity, blood utilization review programs, cord blood banking expansion, integration of blockchain in blood supply tracking, and cutting-edge blood processing technologies.

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What are the Major Drivers Propelling the Blood Bank Market?
A surge in accidents worldwide, including car accidents and workplace mishaps, is observed as a key driver stimulating the growth of blood banking. The rise in such incidents necessitates immediate blood transfusions for treating injuries, replacing blood loss, and maintaining adequate circulation. As per an article by the World Health Organization (WHO) in June 2022, road traffic crashes were responsible for approximately 1.3 million deaths, with non-fatal injuries affecting 20 to 50 million people. Over 90 percent of these fatalities occurred in low and middle-income countries underscore the urgent demands of blood banking services.

What are the Primary Segments of the Global Blood Bank Market?
The blood bank market report segments the market into:
1) Bank Type: Private Blood Bank, Public Blood Bank
2) Function: Collection, Processing, Testing, Storage, Transportation
3) Product Type: Whole Blood, Red Blood Cells, Platelet, Plasma, White Blood Cells
4) End User: Hospitals, Ambulatory Surgical Centers, Clinics, Pharmaceutical Companies

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Who are the Key Players Dominating the Blood Bank Market?
The blood bank market comprises a host of major players including American Association of Blood Banks, 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, Shire Plc, Abbott, Beckman Coulter Inc., Polymedicure, Thermo Fisher Scientific Inc., Becton Dickinson and Company, Bio-Rad Laboratories Inc., F. Hoffman La Roche, Siemens Healthcare Private Limited, BioMérieux, CSL Behring, Takeda, Octapharma, Kedrion, Macopharma, Fresenius Kabi AG, B. Braun Melsungen AG, Grifols SA, Hologic Inc., Ortho Clinical Diagnostics, Merck KGaA, Roche Diagnostics, and Quotient Limited.

Which Trends are Shaping the Future of the Blood Bank Market?
Technological advancements are trending within the blood bank market. In January 2023, Abbott Laboratories teamed up with Blood Centers of America to introduce a mixed reality application integrated with Abbott technology. This consumer-focused app is designed to enhance blood donation processes, attracting new donors while inspiring younger generations to contribute to blood supplies.

Which Region is Leading the Global Blood Bank Market?
In 2024, North America marked its dominance in the blood bank market. However, the Asia-Pacific region is expected to be the fastest-growing region during the forecast period. Others include Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

What is the Blood Bank Market Report 2025 Offering?
A blood bank refers to a facility that collects, tests, processes, and stores donated blood for use in transfusion or other medical procedures. It provides a safe and reliable source of blood for patients who need transfusions due to surgery, injury, or other medical conditions. The Blood Bank Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.

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