Blood Banking Equipment Market Forecasts to 2030 – Global Analysis by Product (Blood Collection Devices, Blood Processing Equipment, Blood Storage Equipment, Blood Testing Equipment and Other Products), Mode of Collection, Application, End User and By Geo

Blood Banking Equipment Market Forecasts to 2030 – Global Analysis by Product (Blood Collection Devices, Blood Processing Equipment, Blood Storage Equipment, Blood Testing Equipment and Other Products), Mode of Collection, Application, End User and By Geography

According to Stratistics MRC, the Global Blood Banking Equipment Market is accounted for $16,322.1 million in 2024 and is expected to reach $23,950.7 million by 2030 growing at a CAGR of 6.6% during the forecast period. Blood banking equipment includes specialized instruments and technologies used in blood collection, processing, storage, and transfusion to assure the safety and integrity of blood products. This comprises automated blood processing equipment, plasma separators, centrifuges, storage refrigerators and freezers, blood collection bags, and blood typing and crossmatching systems. Blood warmers, transit containers, and monitoring tools to keep tabs on temperature and conditions during transfusion and storage are also included in the equipment. In order to provide effective blood transfusion and donation services, these technologies are essential for preserving the quality of blood products, avoiding contamination, and guaranteeing donor and recipient compatibility in clinical settings.

According to the World Health Organization, 118.5 million blood donations were collected globally in 2018.

Market Dynamics:

Driver:

Rising Prevalence of Chronic Diseases and Surgeries

The rising prevalence of chronic diseases and surgeries significantly drives the demand for blood banking equipment. As chronic conditions like cancer, diabetes, and cardiovascular diseases increase, the need for regular blood transfusions and related treatments grows. Similarly, the surge in surgeries, including organ transplants and trauma care, necessitates efficient blood storage and management. This trend propels the demand for advanced blood banking equipment to ensure a steady and safe supply of blood products for medical procedures.

Restraint:

High Initial Investment Costs

Adoption of innovative technologies may be impeded by high initial investment costs in the blood banking equipment industry, particularly for smaller or more financially strapped healthcare facilities. This cost barrier restricts access to contemporary equipment, which lowers operating safety and efficiency. It may also hinder cash flow, postpone the growth of blood bank services, and deter investment in essential maintenance or upgrades, all of which would hinder market expansion as a whole.

Opportunity:

Technological Advancements

Technological advancements are driving the market by improving efficiency, accuracy, and safety in blood collection, storage, and transfusion. Innovations such as automated blood typing, pathogen detection, and refrigeration systems ensure higher blood quality and reduce human errors. Additionally, the integration of advanced monitoring systems and data analytics enhances inventory management and traceability. These developments not only streamline operations but also meet the growing demand for blood transfusions, contributing to better patient outcomes and healthcare services, thus it propels market expansion.

Threat:

Blood Supply Shortages

Blood supply shortages in the Blood Banking Equipment market can lead to delayed medical treatments, increased mortality rates, and complications during surgeries or emergencies. Hospitals may face a shortage of critical blood products, affecting patient care. This shortage also strains blood banks, leading to higher operational costs and reliance on emergency donations, disrupting healthcare systems and increasing the need for advanced blood storage and management equipment, thus it limits the market expansion.

Covid-19 Impact:

The COVID-19 pandemic significantly impacted the Blood Banking Equipment market, disrupting supply chains and reducing blood donation drives due to lockdowns and social distancing measures. However, increased demand for convalescent plasma and heightened awareness of healthcare infrastructure spurred investments in advanced blood banking technologies, creating a mixed effect on market dynamics during and post-pandemic.

The blood banks segment is expected to be the largest during the forecast period

The blood banks segment is expected to be the largest during the forecast period due to increasing prevalence of chronic diseases, rising surgical procedures, and emergency care needs amplify the reliance on advanced equipment such as centrifuges, blood storage refrigerators, and automated blood analyzers. Additionally, the growing focus on safety and precision in blood handling fosters innovation, boosting market growth. Blood banks play a pivotal role in shaping this industry's trajectory.

The automated blood collection segment is expected to have the highest CAGR during the forecast period

The automated blood collection segment is expected to have the highest CAGR during the forecast period as these systems streamline collection processes, reducing manual errors and improving the precision of blood component separation. Automation enables faster processing, meeting rising blood demand in healthcare and emergency settings. Additionally, it supports compliance with stringent quality standards and reduces operational costs. The integration of data analytics further optimizes inventory management and traceability, driving adoption in developed and emerging markets, thereby boosting market growth.

Region with largest share:

North America is projected to hold the largest market share during the forecast period because of factors like increasing prevalence of chronic diseases, rising geriatric population, and growing demand for blood transfusions. Additionally, technological advancements in blood banking equipment, such as automated blood component separation systems and blood bank information systems, are further propelling market growth. Furthermore, stringent regulatory standards for blood safety and quality assurance are driving the adoption of advanced blood banking equipment in the region.

Region with highest CAGR:

Asia Pacific is projected to witness the highest CAGR over the forecast period because chronic illnesses are becoming more common and the number of elderly people needing transfusions is increasing. Government programs encouraging voluntary blood donation and the expansion of hospital infrastructure both make substantial contributions. Moreover, technological developments in blood processing, testing, and storage improve operating safety and efficiency, drives the industry even more.

Key players in the market

Some of the key players in Blood Banking Equipment market include Medtronic, BD Medical, Boston Scientific Corporation, Argon Medical Devices, Novo Nordisk, Terumo Corporation, NIPRO Medical, B. Braun, Cardinal Health, Hi-Tech Medicare Devices, Abbott Laboratories, Beckman Coulter, Inc., bioMérieux SA, Bio-Rad Laboratories, Inc., Cerus Corporation, CSL Behring LLC and Fresenius Kabi AG.

Key Developments:

In October 2024, Abbott announced a new, first-of-its-kind clinical trial designed to improve outcomes in patients with worsening heart failure who could benefit from advanced therapy options.

In September 2024, Abbott and Seed Global Health announced the launch of a new partnership to train and support highly skilled health workers to help advance maternal and child health in Malawi.

In August 2024, Abbott announced the expansion of its Pure Bliss by Similac line of organic and European-made infant formulas that give parents a variety of products to meet specific formula preferences.

Products Covered:
• Blood Collection Devices
• Blood Processing Equipment
• Blood Storage Equipment
• Blood Testing Equipment
• Other Products

Modes of Collection Covered:
• Automated Blood Collection
• Manual Blood Collection

Applications Covered:
• Whole Blood Collection
• Component Collection
• Pathogen Reduction And Inactivation
• Blood Typing And Crossmatching

End Users Covered:
• Blood Banks
• Hospitals And Clinics
• Research And Academic Institutes
• Diagnostic Laboratories
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements