Blood Collection and Storage Equipment to Dominate the Blood Banking Market by 2030: Key Insights

According to the latest publication by Meticulous Research®, the Blood Banking Equipment Market is expected to reach $24.26 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2030. The key drivers behind this growth include the increasing demand for blood and blood-related products, the rise in surgical procedures across the globe, and continuous advancements in technology and automation within blood banking devices. Moreover, opportunities in emerging markets and supportive government initiatives to promote blood transfusion practices are anticipated to further fuel the market’s expansion in the coming years.

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The market is segmented into four primary categories: Product, Functionality, End User, and Geography. In terms of products, the blood banking equipment market includes Blood Collection Equipment (such as needles, syringes, blood bags, tubes, and vials), Blood Processing Equipment (like centrifuges, blood analyzers, and blood filters), and Blood Storage Equipment (such as blood bank refrigerators and freezers). Based on functionality, the market is categorized into Automated Blood Banking Equipment and Manual Blood Banking Equipment.

In 2024, the blood collection equipment segment is expected to hold the largest market share due to the growing demand for devices like needles, syringes, and blood bags. This surge is driven by the increasing volume of blood donations worldwide and the rising need for blood components to treat diseases such as cancer and hemophilia.

In terms of functionality, the automated blood banking equipment segment is anticipated to experience the highest growth during the forecast period. This growth is attributed to the shortage of skilled professionals in the field and the growing need for efficiency in blood collection, processing, and storage. Automated systems are increasingly being adopted to streamline operations, minimize human error, and reduce the burden on healthcare staff.

The end-user segment of the market is primarily composed of hospitals and blood banks, which can be categorized as private, public, or hybrid. By 2024, blood banks are expected to dominate the market share, driven by the rising number of surgeries performed worldwide and the subsequent demand for blood and blood-related products. Blood banks serve as the primary source for collecting, processing, and storing blood, and as a result, they require a significant amount of equipment to meet global healthcare needs.

Geographically, the Asia-Pacific region is poised to register the highest CAGR during the forecast period. The rapid growth in this region is driven by increasing healthcare spending, improving infrastructure for blood banking, and a rising geriatric population that is more susceptible to chronic diseases requiring blood transfusions. Additionally, initiatives promoting blood donations are gaining traction in countries like China and India, further propelling the market’s growth.

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The key players driving innovation 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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