Global blood banking market is experiencing growth majorly driven by technological advancements; entry of innovative products; rising transfusion procedures for chronic diseases; and increasing promotional activities by government health bodies to encourage blood donation. Conversely, rising cost and regulatory pressures may restrain growth of the sector. In addition, increasing adoption of minimally invasive surgeries, which reduce surgical bleeding and therefore need for transfusion, might adversely affect the sector.
Blood banking devices form an integral part of the industry and they can be categorised into blood collection, processing and storage devices. Blood collection devices include blood collection needles and tubes, syringes, blood bags, etc while centrifuges, blood filters and hematology reagents etc are some of the common blood processing devices. Blood bank refrigerators constitute the biggest chunk of blood storage devices.
By geography, United States controls the maximum share of blood banking market supported by increasing demand for reducing blood transfusion infections by implementing advanced blood management techniques. Asia Pacific is expected to show higher growth primarily due to improving healthcare infrastructure and increasing per capita spending.
In addition to blood banks, umbilical cord blood (UCB) banks and biobanks are the key storage facilities in healthcare industry. UCBs store collected cord blood from placenta after childbirth, whereas biobanks collects blood and cell samples for research and academic purpose. Ethical problems related to sample security pose a major challenge to the growth of the UCB market.
ASDReport.com has a good collection of reports on the blood banking market. These reports cover various topics like, tissue banking, human albumin, and much more.