Meticulous Research® Projects Blood Banking Equipment Market to Reach $24.26 Billion by 2030
Meticulous Research®—a leading market research company, published a research report titled, ‘Blood Banking Equipment Market by Product (Collection [Tubes, Bags, Syringes], Processing [Centrifuge, Filters, Processor], Storage [Refrigerator, Freezer]), Functionality (Automated, Manual), End User (Hospital, Blood Bank) - Global Forecast to 2030.’
Meticulous Research® has published its latest findings, forecasting the blood banking equipment market to achieve a valuation of $24.26 billion by 2030, reflecting a CAGR of 4.6% from 2023 to 2030. This growth is propelled by increasing demand for blood and blood-related products, a rise in global surgical procedures, and advancements in blood banking technology and automation. Additionally, emerging markets and supportive initiatives to promote blood transfusion present substantial growth opportunities.
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The market is comprehensively segmented by product, functionality, end user, and geography:
Market Segmentation
Product Categories:
- Blood Collection Equipment: Needles, Tubes, Syringes, Blood Bags, Lancets, IV Cannulas, Vials, and other related devices.
- Blood Processing Equipment: Centrifuges, Blood Filters, Blood Analyzers, Blood Processors, and other processing devices.
- Blood Storage Equipment: Blood Bank Refrigerators, Blood Bank Freezers, Test Tube Racks.
Functionality:
- Automated Blood Banking Equipment
- Manual Blood Banking Equipment
End User:
- Hospitals
- Blood Banks: Private, Public, Hybrid
Geography:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key Insights
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Product Segment: In 2023, the blood collection equipment segment is anticipated to dominate the market, driven by the high demand for blood collection devices like needles, syringes, tubes, and blood bags, due to increasing global blood donation volumes and the need for blood components in disease treatment.
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Functionality Segment: Automated blood banking equipment is projected to experience the highest CAGR during the forecast period, owing to a shortage of skilled professionals in blood banks and the increasing necessity for blood and blood products.
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End User Segment: Blood banks are expected to hold the largest market share in 2023, attributed to the rising number of surgeries and the resulting surge in demand for blood and blood products. Blood banks are the primary providers of these products, thus driving the need for advanced collection, processing, and storage equipment.
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Geographical Insights: The Asia-Pacific region is forecasted to register the highest CAGR through 2030, supported by increasing healthcare expenditure, developing blood banking infrastructure, a growing geriatric population, rising chronic disease prevalence, and initiatives promoting blood donations.
Leading Companies
Key players in the blood banking equipment market include: Abbott Laboratories (U.S.), F. Hoffman-La Roche Ltd. (Switzerland), Thermo Fisher Scientific Inc. (U.S.), Danaher Corporation (U.S.), Fresenius Kabi AG (Germany), Becton, Dickinson and Company (U.S.), Terumo Corporation (Japan), Bio-Rad Laboratories, Inc. (U.S.), bioMérieux SA (France), HORIBA, Ltd. (Japan), Mindray Bio-Medical Electronics Co, Ltd (U.S.), Sysmex Corporation (Japan), and Hamilton Bonaduz AG (Switzerland).
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