About Blood Banking
The process of collecting, separating, and storing blood is referred to as blood banking. Blood banks collect blood and separate it into its various components so they can be used more effectively as per the patient requirement. Donated blood remains an important and immediate lifesaving resource. Owing to the rising surgical procedures, blood banking has gained significant importance in the last few decades. Based on the product type, the market has been segmented into Whole Blood, Red Blood Cell, Platelet, Plasma, and Blood CellWhite. Based on the bank type, the market has been segmented into public and private.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.2% |
Competition among existing players is due to the Industrial Filters market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Industrial Filters Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Blood Banking market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
American Red Cross (United States), Vitalant (United States), New York Blood Centre (United States), Australian Red Cross (Australia), Japan Red Cross Society (Japan), American Association of Blood Banks (United States), America's Blood Centers (United States), Canadian Blood Services (Canada), Sanquin Blood Supply Foundation (Netherlands) and Blood Bank of Alaska (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Indian Red Cross Society (India), NHS Blood and Transplant (United Kingdom), New Zealand Blood Service (New Zealand), National Blood Centre (Malaysia), German Red Cross (Germany) and Rotary Blood Bank (India).
Segmentation Overview
AMA Research has segmented the market of Global Blood Banking market by Type (Whole Blood, Red Blood Cell, Platelet, Plasma and Blood CellWhite) and Region.
On the basis of geography, the market of Blood Banking has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Function, the sub-segment i.e. Collection will boost the Blood Banking market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Bank Type, the sub-segment i.e. Private will boost the Blood Banking market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospital will boost the Blood Banking market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Refrigeration of Blood with RFID (Radio Frequency Identification) Technology
Market Growth Drivers:
The surge in Prevalence of Hematological Diseases, The rise in Accidental Cases, Increase in the Number of Geriatric Population and High Demand for Safe Blood Due To High Prevalence of Transfusion Transmissible Infections Such As HIV, Hepatitis B across the World
Challenges:
Delivery Timeframe of Blood to the Patients and Limited Shelf Life of Blood Products
Restraints:
The rise in Wastage of Donated Blood, Stringent Rules & Regulations and The rise in Bloodless Surgical Techniques
Opportunities:
The Increasing Profitability of Blood Banking and The Increasing Demand from Emerging Nations
Market Leaders and their expansionary development strategies
In November 2018, ERYTECH Pharma has announced a strategic partnership with New York Blood Center (NYBC) for red blood cell supply and research.
In January 2019, The American Red Cross has collected about 27,000 fewer blood and platelet donations during the weeks of Christmas and New Year’s than needed.
The Center for Biologics Evaluation and Research (CBER) regulates the collection of blood and blood components used for transfusion or for the manufacture of pharmaceuticals derived from blood and blood components, such as clotting factors, and establishes standards for the products themselves. CBER also regulates related products such as cell separation devices, blood collection containers and HIV screening tests that are used to prepare blood products or to ensure the safety of the blood supply. CBER develops and enforces quality standards, inspects blood establishments and monitors reports of errors, accidents and adverse clinical events.
Key Target Audience
Blood Banking Companies, Blood Banking Organizations, Regulatory Bodies, Government Bodies, Downstream Vendors, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.