Blood Banking Devices Market Size, Share & Industry Analysis, By Product (Instruments, Collection Devices Storage Devices, Reagents, Anti-Sera Reagent,Anti- Human Globulin, Others), By End-User (Hospitals & Clinics, Diagnostic & Pathology Labs, Blood Banks, Others) and Regional Forecast, 2024-2032

The devices that are designed specifically for collection, processing, and store the blood and blood related products are known blood banking devices. The key purpose behind the manufacturing of these devices is to assure safety related to blood transfer. Few of the common blood banking devices include collection devices, processing devices, and storage devices. The blood banking devices market is growing due to the increasing requirement of blood and blood related components, increasing number of surgeries, rising hematology procedures, and growing incidences of leukemia, are major factors expected to drive growth of the global blood banking devices market over the forecast period.

Escalation in the demand for blood and plasma components throughout the globe and increase in the prevalence of blood cancer are projected to boost the growth of the market. According to the Leukemia & Lymphoma Society 2019, approximately every 3 minutes, one person in the US is diagnosed with a blood cancer. Moreover, escalating incidence of accidents and trauma cases across the globe, government and non-government initiatives to promote blood donations around the globe are some other factors that boost the growth of the market. Also, rising incidences of road accidents, rising traumatic injuries and technological advancements in blood banking devices are driving the growth of the market

However, high cost of advanced blood related devices and the dearth of skilled laboratory professionals are likely to hinder the growth of the market.  

Key Market Driver -

Increase in the incidence and prevalence of blood disorders is propelling the market growth.

Key Market Restraint -

High cost of advanced blood collection medical devices is likely to hinder the market growth.

Market Segmentation:

Globally, the blood banking devices can be segmented on the basis of product, applications, end-users, and region. Based on the products, the market can be segmented into instruments, collection devices, storage devices, and reagents. The instruments segment can be sub-segmented into centrifuges, blood filters, blood grouping analyzers, and others. The collection devices can be sub-segmented into needles, tubes, syringes, blood bags, and others. Storage devices can be sub-segmented into blood bank refrigerators, blood bank freezers, test tube racks, and others. The reagents segment can be sub-segmented into anti-sera reagent, anti- human globulin, and others. Based on the end-user, the market can be segmented into hospitals & clinics, diagnostic & pathology labs, blood banks and others.

Geographically, the blood banking devices can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

Key Players Covered:

Some of the major companies that are present in the blood banking devices are Abbott, Beckman Coulter, Inc. Polymedicure, Thermo Fisher Scientific Inc., BD, Bio-Rad Laboratories, Inc., F. Hoffman La Roche, Siemens Healthcare Private Limited, Terumo Corporation and other prominent players.

Key Insights:

• Prevalence of blood disorders by Key Countries/Region


• Incidences of Road Accidents (As per Availability)


• Technological Advancements in Blood Banking Devices


• Introduction of New Types/Approvals (By Major Players)


• Key Industry Developments Mergers, Acquisitions, and Collaborations

Regional Analysis:

Geographically, the blood banking devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is anticipated to absorb the largest share of the market and it is also expected to maintain its principal position in the forecast period. The market growth in this region can be acknowledged by the presence of highly developed healthcare systems and increase in the prevalence of and incidences of leukemia. Moreover, the growing awareness related to the use of technologically advanced systems and productive reimbursement policies, and presence of key players in the region is also driving the market in this region. Europe is estimated to be the second most profitable market throughout the forecast period. The factors such as increasing adoption of advanced & innovative medical devices, high availability of systems necessary for blood collection and processing, increasing incidences of cancer are expected to boost the growth of the blood banking devices in this region. However, Asia-Pacific holds the highest potential for the growth of the market and it is also projected to record and retain highest CAGR during the forecast period. This growth of the market in this region can be attributed to the rising healthcare expenditure, increase in responsiveness related to blood donation, increase in the incidences of infectious diseases and growing prevalence of blood cancer. The market in Latin America and the Middle East and Africa are expected to grow reasonably in the forecast period.

To gain extensive insights into the market, Request for Customization

Segmentation

Blood Banking Devices Market Industry Developments

• In July 2019, Abbott announced the approval granted by FDA for its new blood and plasma screening Alinity s System.  This new solution brought the latest screening technology to U.S. blood and plasma centers. Alinity s is designed to screen blood and plasma more efficiently within a smaller space versus commercially available competitive systems while improving productivity and maintaining the highest levels of accuracy.


• February 2020, BD and Babson Diagnostics announced a long-term strategic partnership agreement to bring laboratory-quality, small-volume blood collection to retail pharmacies