New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Blood Bank Global Market Report 2023" - https://www.reportlinker.com/p06464227/?utm_source=GNW
The global blood bank market is expected to grow from $15.96 billion in 2022 to $16.95 billion in 2023 at a compound annual growth rate (CAGR) of 6.17%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The blood bank market is expected to reach $21.18 billion in 2027 at a CAGR of 5.74%.
The blood bank market includes revenues earned through entities by blood products derived from blood including albumin, immune globulin, specific immune globulins, and clotting factor concentrates.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A blood bank refers to a facility or organization that collects, tests, processes, and stores donated blood for use in transfusions or other medical procedures. This provide a safe and dependable source of blood for patients who need transfusions as a result of surgery, injury, or medical conditions.
North America was the largest region in the blood bank market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of a blood bank are whole blood, red blood cells, platelets, plasma, and white blood cells.Whole blood is made up of red blood cells, white blood cells, and platelets suspended in a protective yellow liquid called plasma and is used to treat large amounts of blood loss, exchange transfusions, and when people donate blood to themselves.
They are divided by functions including collection, processing, testing, storage, and transportation.The various types of banks include private blood banks and public blood banks.
They are used by various end-users such as hospitals, ambulatory surgical centres, clinics, and pharmaceutical companies.
A rising number of accidents is expected to propel the growth of the blood bank market going forward.The rising number of accidents refers to an increase in the frequency or occurrence of unexpected events that result in injury, damage, or loss of life and includes a wide range of accidents such as car accidents and workplace accidents.
The rising number of accidents frequently increases the need for immediate blood transfusions to treat injuries, replace blood loss, and maintain adequate circulation caused by accidents. For instance, in June 2022, according to an article published by the World Health Organization (WHO), a Switzerland-based international public health agency responsible for public health efforts, road traffic crashes caused approximately 1.3 million deaths, and non-fatal injuries accounted for 20 to 50 million people. Furthermore, more than 90 percent of road traffic fatalities occur in low- and middle-income countries. Therefore, the rising number of accidents will drive the blood bank market.
Technological advancement is a key trend gaining popularity in the blood bank market.Major companies operating in blood collection and storage activities are developing new technologies to meet fast-growing industry demand and enhance their business presence across the globe.
For instance, in January 2023, Abbott Laboratories, US-based multinational medical devices, and health care company partnered with Blood Centers of America, a US- based independent blood center, and launched a mixed reality application integrated with Abbott technology.The new consumer-focused application is used during blood donation.
The digital experience is intended to improve the blood donation process, attract new donors, and inspire a younger generation to donate blood.
In April 2022, BioIVT, a US-based biospecimens, research models, and services provider company, acquired Tennessee Blood Services (TBS) for an undisclosed amount.Through this acquisition, BioIVT aims to increase control over its own supply chain for normal blood products and manage its ninth blood donor center.
Tennessee Blood Services (TBS) is a US-based commercial blood bank specializing in whole blood and blood products for diagnostic purposes.
The countries covered in the blood bank market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The blood bank market research report is one of a series of new reports that provides blood bank market statistics, including blood bank industry global market size, regional shares, competitors with a blood bank market share, detailed blood bank market segments, market trends and opportunities, and any further data you may need to thrive in the blood bank industry. This blood bank market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464227/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
