Blood Banking Devices Market, By Product Type (Blood Collection Devices, Blood Processing Devices, Blood Storage Devices, Blood Transfusion Devices, Blood Grouping/Testing Reagents, Others), By Method of Collection (Manual Blood Collection, Automated Blood Collection), By End User (Hospitals, Clinics, Blood Banks, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)
The global blood banking devices market was valued at US$ 25.25 Bn in 2023 and is expected to reach US$ 42.56 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
Figure 1. Global Blood Banking Devices Market Share (%), By Region, 2024
Global blood banking devices market is expected to witness robust growth during the forecast period. The rise in blood-related disorders and trauma cases are increasing the demand for efficient blood transfusion and processing. Advancements in blood collection and processing technologies are improving the screening, collection, and storage of blood and blood components. Devices such as blood collection needles and syringes, blood bags, blood collection monitors, and blood grouping analyzers have fueled the growth of the global blood banking devices market. Stringent regulations regarding blood donation and transfusion with an emphasis on ensuring the quality and safety of blood are further encouraging the adoption of advanced blood banking devices across blood banks and hospitals. Also, a lack of prompt access to safe blood transfusion will raise the need for blood banks to provide blood units in an efficient, secure, and timely manner.
Market Dynamics
Global blood banking devices market is primarily driven by the growing incidence of blood-related disorders and road accidents necessitating blood transfusions. According to the data published by World Health Organization (WHO), around 118.5 million blood donations are collected worldwide annually from voluntary unpaid donors for transfusion purposes. However, the demand for blood far exceeds its supply. This gap between demand and supply is creating significant market potential for blood banking devices. Moreover, technological advancements in blood collection equipment, rising awareness about blood donation, and increasing investments by governments as well as non-profit organizations to ensure adequate and safe blood supply are some other factors anticipated to present attractive opportunities for market players. However, high costs associated with automated blood collection devices and stringent regulatory approvals are some challenges restraining the market growth.
Key features of the study:
- This report provides in-depth analysis of the global blood banking devices market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global blood banking devices market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key players operating in the global blood banking devices market includes Haemonetics Corporation, Fresenius Kabi, Terumo BCT, Inc., Immucor, Macopharma, B. Braun, Grifols, Beckman Coulter, and Sarstedt.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- Global blood banking devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global blood banking devices market.
- Global Blood Banking Devices Market, By Product Type:
- Blood Collection Devices
- Blood Processing Devices
- Blood Storage Devices
- Blood Transfusion Devices
- Blood Grouping/Testing Reagents
- Others
- Global Blood Banking Devices Market, By Method of Collection:
- Manual Blood Collection
- Automated Blood Collection
- Global Blood Banking Devices Market, By End User:
- Hospitals
- Clinics
- Blood Banks
- Others
- Global Blood Banking Devices Market, By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Top Companies in the Global Blood Banking Devices Market:
- Haemonetics Corporation
- Fresenius Kabi
- Terumo BCT, Inc.
- Immucor
- Macopharma
- Braun
- Grifols
- Beckman Coulter
- Sarstedt
- 1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- 2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Method of Collection
- Market Snippet, By End User
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- 3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Driver
- Increasing product launch by key market players
- Growing demand for blood and blood-derived products
- Increasing blood disorders and rising accident rates
- Technological advancements in blood collection and processing
- Restrain
- Shortage of voluntary blood donors
- High capital investment and maintenance costs
- Stringent regulatory framework and complex licensing procedures
- Opportunities
- Emerging markets in developing nations
- Growing R&D in separation technologies
- Increasing adoption of automated instruments
- Key Highlights
- Regulatory Scenario
- Recent Trends
- Product Launches/Approvals
- PEST Analysis
- PORTER’s Analysis
- Mergers, Acquisitions, and Collaborations
- 4. Global Blood Banking Devices Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- 5. Global Blood Banking Devices Market, By Product Type, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Blood Collection Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Blood Processing Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Blood Storage Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Blood Transfusion Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Blood Grouping/Testing Reagents
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- 6. Global Blood Banking Devices Market, By Method of Collection, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Manual Blood Collection
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Automated Blood Collection
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- 7. Global Blood Banking Devices Market, By End User, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Blood Banks
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- 8. Global Blood Banking Devices Market, By Region, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Segment Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Method of Collection, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2031, (US$ Bn)
- U.S.
- Canada
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Method of Collection, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2031, (US$ Bn)
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Method of Collection, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2031, (US$ Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Method of Collection, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2031, (US$ Bn)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Method of Collection, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2031, (US$ Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Method of Collection, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country/Region, 2019-2031, (US$ Bn)
- South Africa
- Central Africa
- North Africa
- 9. Competitive Landscape
- Company Profile
- Haemonetics Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Fresenius Kabi
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Terumo BCT, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Immucor
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Macopharma
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Braun
- Grifols
- Beckman Coulter
- Sarstedt
- Analyst Views
- 10. Section
- References
- Research Methodology
- About us
- *Browse 35 market data tables and 34 figures on "Global Blood Banking Devices Market” – Global forecast to 2031
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