Global blood banking devices market is expected to witness robust growth during the forecast period. The rise in blood-related disorders and trauma cases are increasing the demand for efficient blood transfusion and processing. Advancements in blood collection and processing technologies are improving the screening, collection, and storage of blood and blood components. Devices such as blood collection needles and syringes, blood bags, blood collection monitors, and blood grouping analyzers have fueled the growth of the global blood banking devices market. Stringent regulations regarding blood donation and transfusion with an emphasis on ensuring the quality and safety of blood are further encouraging the adoption of advanced blood banking devices across blood banks and hospitals.  Also, a lack of prompt access to safe blood transfusion will raise the need for blood banks to provide blood units in an efficient, secure, and timely manner.

Market Dynamics

Global blood banking devices market is primarily driven by the growing incidence of blood-related disorders and road accidents necessitating blood transfusions. According to the data published by World Health Organization (WHO), around 118.5 million blood donations are collected worldwide annually from voluntary unpaid donors for transfusion purposes. However, the demand for blood far exceeds its supply. This gap between demand and supply is creating significant market potential for blood banking devices. Moreover, technological advancements in blood collection equipment, rising awareness about blood donation, and increasing investments by governments as well as non-profit organizations to ensure adequate and safe blood supply are some other factors anticipated to present attractive opportunities for market players. However, high costs associated with automated blood collection devices and stringent regulatory approvals are some challenges restraining the market growth.

Key features of the study:

• This report provides in-depth analysis of the global blood banking devices market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global blood banking devices market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key players operating in the global blood banking devices market includes Haemonetics Corporation, Fresenius Kabi, Terumo BCT, Inc., Immucor, Macopharma, B. Braun, Grifols, Beckman Coulter, and Sarstedt.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• Global blood banking devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global blood banking devices  market.

Detailed Segmentation:

• Global Blood Banking Devices Market, By Product Type:
  • Blood Collection Devices
  • Blood Processing Devices
  • Blood Storage Devices
  • Blood Transfusion Devices
  • Blood Grouping/Testing Reagents
  • Others
• Global Blood Banking Devices Market, By Method of Collection:
  • Manual Blood Collection
  • Automated Blood Collection
• Global Blood Banking Devices Market, By End User:
  • Hospitals
  • Clinics
  • Blood Banks
  • Others
• Global Blood Banking Devices Market, By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Top Companies in the Global Blood Banking Devices Market:
  • Haemonetics Corporation
  • Fresenius Kabi
  • Terumo BCT, Inc.
  • Immucor
  • Macopharma
  • Braun
  • Grifols
  • Beckman Coulter
  • Sarstedt