Blood Bank Market Size 2025-2029
The global blood bank market size is forecast to grow by USD 5-7 billion at a CAGR of 4%-6% during the forecast period from 2025 to 2029. Exact values for this market can be accessed upon purchasing the report.
The market is experiencing steady growth, driven by the increasing prevalence of hematological diseases, rise in accidents, and a growing geriatric population. Demand for safe and tested blood products, including red blood cells and platelets, is expected to continue rising as healthcare providers strive to meet the need for blood transfusions. However, challenges like blood wastage and stringent regulations might impact market expansion. To remain competitive, companies in the blood bank market must innovate, improve efficiency in blood storage and testing, and address the increasing demand for blood products in emerging markets.
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How is this market segmented?
The market research report provides comprehensive data for 2025-2029, with historical data from 2019-2024, segmented into product types, functions, bank types, end users, and regions.
- Product Type
- Whole blood
- Red blood cells
- Platelets
- Plasma
- White blood cells
- Function
- Collection
- Processing
- Testing
- Storage
- Transportation
- Region
- North America
- Canada
- US
- APAC
- China
- India
- Japan
- South Korea
- Europe
- Germany
- UK
- France
- South America
- Brazil
- Middle East and Africa
- North America
Product Insights: The red blood cells segment dominates the market, but the platelet segment is anticipated to experience the highest growth rate due to its short shelf life and high demand.
Function Insights: The testing function holds the dominant position and will continue to lead through the forecast period. This is due to the complex and expensive nature of blood screening and testing for transmissible infections.
Regional Insights
- North America is expected to maintain a substantial share in the market, particularly due to the established healthcare infrastructure and consistent demand for blood products.
- Europe is projected to remain dominant throughout the forecast period, owing to high levels of blood donations and well-regulated blood bank systems.
- Asia-Pacific is expected to exhibit the highest growth rate, driven by increasing healthcare accessibility, blood donation awareness, and rising healthcare investments in countries like China and India.
Market Dynamics
Key drivers include:
- The increasing prevalence of blood disorders and trauma-related accidents requiring blood transfusions.
- Rising geriatric populations who are more susceptible to blood-related health conditions.
- Heightened awareness of transfusion-transmissible infections and the need for safe, screened blood.
However, challenges such as high testing costs and strict regulatory guidelines could potentially hinder market growth.
Key Companies & Market Insights
Companies in the blood bank market are focusing on enhancing their services, establishing strategic alliances, and investing in technological innovations. Some of the key players in the market include:
- The American Red Cross
- Vitalant
- New York Blood Center
- Australian Red Cross
- Japan Red Cross Society
- American Association of Blood Banks
- America's Blood Centers
- Canadian Blood Services
- Sanquin Blood Supply Foundation
- Blood Bank of Alaska
- Indian Red Cross Society
- NHS Blood and Transplant
- New Zealand Blood Service
- German Red Cross
- Rotary Blood Bank
These organizations are critical in blood collection, screening, and distribution, ensuring that safe blood products are available to hospitals, research centers, and patients worldwide.
Market Scope
Base Year |
2024 |
Forecast Period |
2025-2029 |
Market Size |
USD 5-7 Billion |
Market Growth |
4%-6% |
Product Type |
|
Function |
|
Regional Landscape |
|
Key Companies Profiled |
|
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How the Benefits of a Technavio Market Research Report Can Empower Your Business
Technavio’s reports provide a range of market insights, including:
- A detailed analysis of the market, featuring market size, growth rate, segmentation, and regional performance
- In-depth analysis of the drivers, challenges, and other dynamics that will impact the growth of the market
- Predictions about upcoming trends and changes in consumer behavior
- Detailed information on key market players, including market positioning, product offerings, and more
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
- 2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- 2.2 Criticality of inputs and factors of differentiation
- Overview on criticality of inputs and factors of differentiation
- 2.3 Factors of disruption
- Overview on factors of disruption
- 2.4 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
3 Market Landscape
- 3.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
- 3.2 Market characteristics
- Market characteristics analysis
- 3.3 Value chain analysis
- Value chain analysis
4 Market Sizing
- 4.1 Market definition
- Offerings of companies included in the market definition
- 4.2 Market segment analysis
- Market segments
- 4.3 Market size 2024
- 4.4 Market outlook: Forecast for 2024-2029
- Chart on Global Market - Market size and forecast 2024-2029 ($ billion)
- Data Table on Global Market - Market size and forecast 2024-2029 ($ billion)
- Chart on Global Market: Year-over-year growth 2024-2029 (%)
- Data Table on Global Market: Year-over-year growth 2024-2029 (%)
5 Historic Market Size
- 5.1 Global Market 2019 - 2023
- Historic Market Size - Data Table on Global Market 2019 - 2023 ($ billion)
- 5.2 Segment Analysis 2019 - 2023
- Historic Market Size – Segment Analysis 2019 - 2023 ($ billion)
- 5.4 Geography segment analysis 2019 - 2023
- Historic Market Size - Geography Segment 2019 - 2023 ($ billion)
6 Qualitative Analysis
- 6.1 Impact of AI on the Global Market
7 Five Forces Analysis
- 7.1 Five forces summary
- Five forces analysis - Comparison between 2024 and 2029
- 7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2024 and 2029
- 7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2024 and 2029
- 7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2024 and 2029
- 7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2024 and 2029
- 7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2024 and 2029
- 7.7 Market condition
- Chart on market condition - Five forces 2024 and 2029
8 Market Segmentation
- 8.1 Market segments
- Chart on Segmentation - Market share 2024-2029 (%)
- Data Table on Segmentation - Market share 2024-2029 (%)
- 8.2 Segment Comparison
- Chart on Comparison
- Data Table on Comparison
- 8.3 Segment Market Opportunity
- Market opportunity ($ billion)
- Data Table on Market Opportunity ($ billion)
9 Customer Landscape
- 9.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
10 Geographic Landscape
- 10.1 Geographic segmentation
- Chart on market share by geography 2024-2029 (%)
- Data Table on market share by geography 2024-2029 (%)
- 10.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
- 10.3 Market opportunity by geography
- Market opportunity by geography ($ billion)
- Data Tables on Market opportunity by geography ($ billion)
11 Drivers, Challenges, and Opportunity/Restraints
- 11.1 Market drivers
- 11.2 Market challenges
- 11.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2024 and 2029
- 11.4 Market opportunities/restraints
12 Competitive Landscape
- 12.1 Overview
- 12.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
- 12.3 Landscape disruption
- Overview on factors of disruption
- 12.4 Industry risks
- Impact of key risks on business
13 Competitive Analysis
- 13.1 Companies profiled
- Companies covered
- 13.2 Company ranking index
- Company ranking index
- 13.3 Market positioning of companies
- Matrix on companies position and classification
14 Appendix
- 14.1 Scope of the report
- 14.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
- 14.3 Currency conversion rates for US$
- Currency conversion rates for US$
- 14.4 Research methodology
- Research methodology
- 14.5 Data procurement
- Information sources
- 14.6 Data validation
- Data validation
- 14.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
- 14.8 Data synthesis
- Data synthesis
- 14.9 360 degree market analysis
- 360 degree market analysis
- 14.10 List of abbreviations
- List of abbreviations

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