Blood Bank Market By Product Type (Whole Blood, Red Blood Cells (RBCs), Platelets, Plasma, White Blood Cells and Cryoprecipitate), By Bank Type (Private and Public), By Application (Transfusion, Research and Development, Therapeutic Uses and Plasma-derived Products), By Function (Collection, Processing, Transportation, Storage and Testing), and By End User (Hospitals, Blood Centers, Ambulatory Surgical Centers, Research Institutions and Diagnostic Laboratories), Global Market Size, Segmental analysis, Regional Overview, Company share analysis, Leading Company Profiles And Market Forecast, 2025 – 2035

Industry Outlook

The Blood Bank market accounted for USD 21.85 Billion in 2024 and is expected to reach USD 41.05 Billion by 2035, growing at a CAGR of around 5.9% between 2025 and 2035. Blood Bank Market encompasses specialized services like stem cell banking from umbilical cord blood, plasma collection for therapies, and platelet apheresis for cancer patients. Advanced blood banks are also involved in blood typing, cross-matching for transfusion compatibility, and pathogen testing for safety. Additionally, the blood bank market encompasses facilities and organizations that collect, test, process, store, and distribute blood and its components. These play a critical role in healthcare in the sense that there is always a stable, safe supply of blood for transfusions and other medical procedures. These specialized services highlight the importance of the market in advancing the rest of healthcare.

Report Scope:

Market Dynamics

• Enhancing Community Engagement through Mobile Blood Donation Units
  Mobile units have revolutionized the face of blood donation. They travel to schools, colleges, workplaces, and community events, making it easier for individuals to donate blood without having to go to a traditional fixed blood bank. This increased accessibility can significantly boost donation rates, especially among the younger generation, who are attracted to engaging and convenient activities. Furthermore, mobile units can encourage community engagement by working together with local businesses and organizations, and by offering incentives such as friendly competitions and prizes to further encourage participation.
  
  According to the World Health Organization (WHO), more than 100 million blood donations are made annually, and 65% of blood transfusions in lower-income countries are for children. Data from the National Institutes of Health (NIH) shows that using mobile health applications (mHealth) can increase blood donation appointments by up to 22.7%, potentially saving around 600,000 lives.
• Short Shelf Life Posing Challenges for Blood Product Management
  Mobile units can enhance community engagement by collaborating with local organizations and businesses and promoting participation through friendly competitions and incentives. The short shelf life of blood products poses a major challenge in the blood bank market, affecting inventory management and supply. Whole blood has a shelf life of only 42 days, while platelets can be sustained for just 5 to 7 days, necessitating a faster turnover with timely donations. This short shelf life results in waste, as expired blood products cannot be reused.
  
  Furthermore, there is a constant need for tracking and optimizing collections, leading to resource strain and logistical stress over time. The urgency created by short shelf lives also necessitates continuous donor outreach, making effective community engagement and campaigns crucial for blood banks.
• Expanding Market Opportunities through AI-Enhanced Blood Management
  The incorporation of AI and data analytics into donor administration and inventory tracking has the potential to greatly benefit the blood bank market. By utilizing advanced algorithms and predictive analytics, blood banks can efficiently manage inventory levels, identify donation patterns, and optimize donor outreach. This Application can help predict blood needs more accurately by analyzing past data and seasonal patterns, reducing waste from short shelf lives. Additionally, AI can improve donor engagement through tailored communication, leading to increased retention rates and more successful recruitment efforts. By implementing these cutting-edge solutions, blood banks can ensure a more reliable blood supply while enhancing operational effectiveness and donor satisfaction.

Industry Experts Opinion

Mobile donation drives have seen great success on the peninsula, and that blood donated from the local communities has saved lives statewide.

             -Blood Bank of Alaska CEO Robert Scanlon

“Our collaboration with Vanderbilt University will set a new standard for leadership development in our industry. The Executive Fellows Program will provide blood community leaders with one-of-a-kind access to internationally recognized faculty, a cohort-based program, expert facilitation, and immersive experiences to empower them in their role while strengthening the entire blood community.”

            -Kate Fry, CEO of America’s Blood Centers

Segment Analysis

Based on the product type, the Blood Bank Market has been classified into whole blood, red blood cells (RBCs), platelets, plasma, cryoprecipitate and white blood cells. Red blood cells are the most commonly transfused blood product because they play a vital role in transporting oxygen throughout the body. They are critical for patients suffering from anemia, trauma, and undergoing surgeries. The potential for rapid improvement of oxygen delivery plays a positive role in patient recovery and overall outcomes. There is a high demand for red blood cells in critical care environments where time is often the difference between life and death. Additionally, red blood cells have a long shelf life, making inventory management less of an issue. Due to their widespread clinical need and logistical advantage, red blood cells have secured their top position in the blood bank market.

Based on the function type, the Blood Bank Market has been classified into collection, processing, transportation, storage, and testing.  In the blood bank market, the testing function is often considered the most important. It is a critical part of ensuring that only safe and compatible blood products reach patients. Proper testing includes screening donations for infectious diseases and determining the blood type of each donation to ensure compatibility with other donated blood types. This directly impacts the safety and effectiveness of patient treatment. Additionally, the FDA mandates that all blood establishments conduct comprehensive testing on all donations, underscoring the importance of this function.

Regional Analysis

The North American region, particularly the United States, is currently at the forefront in terms of the blood bank market, considering advanced healthcare infrastructure, increasing demand for blood transfusions, and strict safety rules. Robust networks operated by organizations like the American Red Cross help provide a steady supply. The America's Blood Centre organizations operate more than 600 blood collection sites that provide nearly 60 percent of the U.S. and a quarter of the Canadian blood supply. These blood centers serve over 150 million people and provide blood products and services to more than 3,500 hospitals and healthcare facilities across North America.

The Asia-Pacific region is seen as the fastest-growing market in the blood banking sector. This is due to the rising healthcare costs, high awareness regarding blood donation in the population, and an increasing incidence of chronic diseases. Countries like India and China are expanding their blood banking services with government efforts to improve blood safety and availability. All of these factors contribute to making Asia-Pacific a dynamic and fast-evolving market in the blood banking sector. 

Competitive Landscape

Blood Bank Market has dynamic landscape that depends on adaptability to change within markets and value partnerships with such investment in research and development in order to stay ahead of competition. Key operating players in the Blood Bank market are The American Red Cross, NHS Blood and Transplant, Canadian Blood Services, Vitalant, America's Blood Centers, New York Blood Center, Japanese Red Cross Society, Australian Red Cross Society, Sanquin Blood Supply Foundation, Blood Bank of Alaska, National Blood Transfusion Council (India), Shire, American Association of Blood Banks, BloodWorks Northwest and OneBlood. For instance, On August 7, 2023, the American National Red Cross announced it would implement new blood donation protocols that the United States Food and Drug Administration recently introduced. The turn of events means that a pool of eligible people will be expanded with the restrictions on LGBTQ donors will be lifted.

Blood Bank Market, Company Shares Analysis, 2024

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Recent Developments:

• In March 2024, The US FDA accepted Roche's Cobas malaria test for use with the cobas 6800/8800 Systems. This marks the first FDA-approved test for screening blood donors in the US for malaria. Additionally, the test will be used to screen whole-blood samples to identify potential organ and tissue donors, especially in cases where the samples were taken before the donor's heart stopping. It's important to note that each donor's whole blood sample is tested individually.
• In Oct. 2022, InVita Healthcare Technologies, a leading software solutions provider for healthcare, blood centers, public health, and public safety organizations, and BloodHub, a leader in blood and biologics supply chain automation solutions, have announced that BloodHub is joining InVita's Blood Management Division. This partnership aims to form the most comprehensive provider of connected software solutions for blood centers in North America.

Report Coverage:

By Product Type

• Whole Blood
• Red Blood Cells (RBCs)
• Platelets
• Plasma
• Cryoprecipitate
• White Blood Cells

By Bank Type

• Private
• Public

By Application

• Transfusion
• Research and Development
• Therapeutic Uses
• Plasma-derived Products

By Function  

• Collection
• Processing
• Transportation
• Storage
• Testing

By End User

• Hospitals
• Blood Centers
• Ambulatory Surgical Centers
• Research Institutions
• Diagnostic Laboratories

By Region

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Singapore
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC Countries
• South Africa
• Rest of Middle East & Africa

List of Companies:

• The American Red Cross
• NHS Blood and Transplant
• Canadian Blood Services
• Vitalant
• America's Blood Centers
• New York Blood Center
• Japanese Red Cross Society
• Australian Red Cross Society
• Sanquin Blood Supply Foundation
• Blood Bank of Alaska
• National Blood Transfusion Council (India)
• Shire
• American Association of Blood Banks
• BloodWorks Northwest
• OneBlood

Frequently Asked Questions (FAQs)