Blood Banking Devices Market to Witness a Pronounce Growth by 2026
Blood banks operate as a central body for collecting, separating, and storing the blood. Blood banks collect and separate the blood into various components such as red blood cells, white blood cells, and platelets, in order to efficiently deliver them based on the need of patients. Blood donation is an easy, important, and life-saving resource for patients, as compared to the drugs, which help bone marrow of the patients to produce new blood cells more rapidly and it requires weeks to produce blood cells. In any geographical area, four different models of blood banking service has been implemented, which includes centralized, regionalized, coordinated hospital services, and a coordinated mixed system.
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Blood banking devices market is expected to witness lucrative growth opportunities during the forecast period, owing to increasing demand for blood units in various surgical procedures such as cardiovascular surgery interventions, hematology procedures, bone marrow surgery procedures, and general medicine. Moreover, growing shortfall between demand and supply of blood units in various emerging economies such as India is expected to drive growth of the blood banking devices market in these regions during the forecast period.
Furthermore, engagement by market players to offer technologically advanced blood collection, blood processing, and blood storage devices in the market will lead to an increase in the revenue of blood banking devices market in the near future. Along with this, government and private owned blood banks have been launching mobile application to spread awareness regarding importance of blood donation, and to offer quick, safe, and donor specific delivery of blood units to patients.
Increasing demand for blood units is expected to fuel growth of the market
Growing demand of blood and blood components will significantly drives blood banking devices market. For instance, according to the American National Red Cross 2018 data findings, around 7,000 units of platelets and 10,000 units of plasma are required daily in the U.S. and around 21 million blood components are transfused each year in the U.S. The Singapore Red Cross Society, (2017); needs around 120,000 units of blood every year, to meet the transfusion needs of patients, which is equivalent to over 400 units of blood per day. Furthermore, according to the same source, from the total volume of blood collected by the Singapore Red Cross Society in 2017, blood was mainly used in surgical procedures (54%), general medicine (31%), hematology and blood diseases (9%), and for accident and emergency cases (6%).
Increasing number of blood donations that will fulfill the rising demand for blood units, worldwide is also expected to drive growth of the market. For instance, according to the World Health Organization (WHO), 112.5 million blood donations were made globally and an increase of 10.7 million blood donations from unpaid donors were reported from 2008 to 2013.
Key players operating in the global blood banking devices market include Becton, Dickinson and Company, Thermo Fisher Scientific Inc., Abbott Laboratories, Fresenius Kabi AG, Beckman Coulter Inc. (Danaher Corporation), bioMérieux, Inc., China Biologic Products Holdings, Inc., Immucor, Inc. (IVD Holdings, Inc.), Instrumentation Laboratory Company, and F. Hoffmann-La Roche AG (Roche Molecular Systems Inc.)
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- Global Blood Banking Devices Market, By Product Type:
- Blood Collection Devices
- Blood Collection Needles
- Blood Collection Tubes
- Serum Collection Tubes
- Plasma Collection Tubes
- Heparin Tubes
- Other Tubes
- Needles & Syringes
- Vacuum Blood Collection System
- Blood Bags
- Blood Processing Devices
- Blood Grouping Analyzers
- Blood Cell Processors
- Blood Filters
- Blood Storage Devices
- Blood Bank Refrigerators
- Blood Bank Freezers
- Blood Collection Devices
- Global Blood Banking Devices Market, By Method of Collection:
- Manual Blood Collection
- Automated Blood Collection
- Global Blood Banking Devices Market, By End User:
- Blood Banks
- Other End User
Increasing number of surgical procedures worldwide is propelling growth of the market
Patients undergoing treatment for cancer, orthopedic surgeries, organ and bone marrow transplants, cardiovascular surgeries, and treatment for inherited blood disorders require blood. According to America’s Blood Centers 2012 data findings, among the two essential blood components, red blood cells and platelets, general medicine procedures (28%) required high amount of red blood cells during practices, while hematology and oncology surgery procedures (32%) required higher amount of platelets. Moreover, increasing number of surgery interventions such as cancer, organ and bone marrow transplants, cardiovascular surgeries, general surgery, nephology, and dialysis results in increasing demand for blood components, thereby driving growth of the Blood Banking Devices Market. For instance, according to the American Cancer Society (ACS), around 1.7 million people were diagnosed with cancer in 2017 and among these, some of the patients need blood daily during their chemotherapy treatment.