Blood Bank Market Report and Forecast 2025-2034

The global blood bank market was valued at USD 17.59 Billion in 2024, driven by rising awareness among people regarding the importance of donating blood, initiatives by the government and other organisations across the globe. The market is anticipated to grow at a CAGR of 4.70% during the forecast period of 2025-2034 to achieve a value of USD 27.84 Billion by 2034.

The market growth is driven by increasing use of augmented reality (AR) to portray the dire significance of blood donations, adoption of blockchain to add visibility and security to the blood supply network, and improvements in the healthcare infrastructure.

Blood Bank Market Overview

Blood banks are essential healthcare institutions responsible for the collection, testing, storage, and distribution of blood and its components. As per the data released by the World Health Organization in May 2025, approximately 118.5 million blood donations were collected globally in 2023, with 40% from high-income countries and an average of 31.5 donations per 1,000 people in those regions . In the U.S. alone, around 13.6 million units of whole blood and red cells were donated in 2023, supporting nearly 29,000 daily transfusions. Blood banks are vital for emergency medicine, surgeries, and chronic disease management, and with growing global demand, they serve as critical infrastructure underpinning modern healthcare systems worldwide.

Blood Bank Market Growth Drivers

Global Collaborations Enhancing Market Development Worldwide

The increasing demand for safe blood supplies and the need to strengthen healthcare systems in low-resource countries are propelling strategic alliances in the blood bank market. For instance, in April 2025, the AABB and Global Blood Fund renewed their Memorandum of Understanding to jointly support underserved regions by improving blood collection, storage, and transfusion practices. This collaboration is expected to enhance global access to quality blood banking services, supporting global blood bank market expansion through knowledge sharing, capacity building, and international standardization.

Blood Bank Market Trends

Major market trends such as rising awareness, technological innovation, and urgent donor initiatives are significantly transforming the market.

Corporate Donations Enhancing Market Growth

Increasing corporate social responsibility and private-sector support are vital in strengthening the blood collection infrastructure. For instance, in April 2025, First Projects Holding in Kuwait collaborated with the Central Blood Bank to launch a blood donation campaign involving employee participation. This initiative not only raises public awareness but also ensures a more stable donor base. Such corporate-backed campaigns are forecast to expand global blood bank market development by boosting regular donations and reinforcing community health engagement.

Rising Awareness Around Blood Donations to Boost Blood Bank Market Demand

Heightened national urgency and donor outreach efforts are crucial market drivers, especially amid growing blood shortages. For instance, in June 2025, England's NHS issued a “red alert,” calling for 200,000 new donors to alleviate a critical shortage exacerbated by prolonged low blood stock levels. This large-scale mobilization is anticipated to reinforce blood collection infrastructure and elevate public responsiveness, significantly enhancing global blood bank market resilience and ensuring supply reliability during the forecast period.

Adoption of Cutting Edge Solutions to Boost Global Blood Bank Market Value

Adoption of innovative logistics and scalable blood delivery methods is driving technological advancement in the blood bank sector. For instance, in February 2024, Harvard-led experts published strategies in The Lancet Global Health advocating for walking blood banks and drone delivery to address remote-area shortages. These low-cost, high-impact solutions are expected to expand access to safe blood, especially in underserved regions, significantly raising the global blood bank market value and operational efficiency.

Rising Demand for Safe Blood Supply Driving Market Growth

The increasing incidence of surgeries, trauma cases, and chronic conditions like cancer and anaemia is intensifying the demand for safe, readily available blood globally. Alongside aging populations and expanding healthcare infrastructure in low- and middle-income countries, governments and health agencies are reinforcing blood bank systems. This sustained need for reliable transfusion services is driving investment in advanced blood storage technologies, digital donor management platforms, and efficient logistics, collectively propelling long-term growth of the global market.

Blood Bank Market Segmentation

"Blood Bank Market Report and Forecast 2025-2034" offers a detailed analysis of the market based on the following segments:

Breakup by Product Type

• Whole Blood
• Red Blood Cells
• White Blood Cell
• Platelet
• Plasma

Market Breakup by Function

• Collection
• Processing
• Testing
• Storage
• Transportation

Market Breakup by Bank Type

• Private
• Public
• Home Healthcare
• Others

Market Breakup by End User

• Hospital
• Ambulatory Surgery Centers
• Pharmaceutical Companies
• Clinics and Nursing Homes
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Blood Bank Market Share

Hospitals Dominating the Segment by End User

Hospitals are expected to hold the largest market share in the blood bank industry due to their high patient turnover, constant need for blood in surgeries, trauma care, and chronic disease treatments. They serve as primary hubs for transfusions and complex procedures requiring blood components. Additionally, hospitals often collaborate with public and private blood banks, ensuring a continuous supply chain. Their critical role in emergency and routine care positions them as the leading contributors to blood bank demand globally.

Global Blood Bank Market Analysis by Region

North America and Europe Emerging as Leading Regions in the Blood Bank Market

North America is expected to lead the blood bank market due to widespread healthcare access, advanced transfusion technologies, and over 13 million annual blood donations in the U.S. alone . Europe ranks second, supported by efficient national blood services and strong public awareness. Countries like Germany and the UK maintain high donation rates and strict blood safety protocols, ensuring a reliable supply and driving regional growth in transfusion medicine and blood component storage.

Leading Players in the Global Blood Bank Market

The key features of the market report comprise funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:

AMERICAN ASSOCIATION OF BLOOD BANKS

Founded in 1947 and headquartered in Bethesda, Maryland, the American Association of Blood Banks (AABB) is a non-profit organization that sets standards and accredits institutions involved in transfusion medicine and cellular therapies. AABB plays a key role in promoting safe, effective blood donation, storage, and transfusion practices globally. It supports healthcare facilities, blood banks, and laboratories by providing education, policy advocacy, and technical guidance to improve patient care and safety in blood and biotherapies.

America's Blood Centers

Established in 1962 and headquartered in Washington, D.C., America's Blood Centers (ABC) is the largest network of community-based, non-profit blood centers in the United States. Its members collect and distribute nearly 60% of the nation’s blood supply. ABC works to ensure a steady blood supply, especially during public health emergencies, and supports advancements in donor recruitment, transfusion safety, and patient care. Its network supports hospitals, trauma centers, and outpatient clinics across North America.

Australian Red Cross Society

Headquartered in Melbourne and established in 1914, the Australian Red Cross Society oversees Lifeblood, a division responsible for managing Australia’s blood and biological product supply. The organization collects, tests, and distributes blood and related products nationwide. It also supports research, organ and tissue donation, and provides services during natural disasters. Lifeblood’s contribution is essential to the country’s healthcare system, ensuring timely and safe transfusion support for surgeries, trauma care, and chronic disease management.

Blood Bank of Alaska

Founded in 1962 and based in Anchorage, Alaska, the Blood Bank of Alaska (BBA) is a vital non-profit organization serving hospitals and healthcare providers throughout the state. It collects, processes, and distributes blood and blood products, ensuring Alaskans have access to lifesaving transfusion services. Operating in one of the most remote U.S. regions, BBA maintains high safety standards and engages in community outreach, while supporting both routine medical procedures and emergency care needs.

Other key players in the market include Canadian Blood Services, JAPANESE RED CROSS SOCIETY, NEW YORK BLOOD CENTRE, SANQUIN BLOOD SUPPLY FOUNDATION, THE AMERICAN RED CROSS, and VITALANT, among others.

Key Questions Answered in the Global Blood Bank Market

• What was the global blood bank market value in 2024?
• What is the global blood bank market forecast outlook for 2025-2034?
• What are the major factors aiding the global blood bank market demand?
• How has the market performed so far, and how is it anticipated to perform in the coming years?
• What are the market's major drivers, opportunities, and restraints?
• What are the major global blood bank market trends?
• Which product type will lead the market segment?
• Which function will lead the market segment?
• Which bank type will lead the market segment?
• Which end user will lead the market segment?
• Who are the key players involved in the global blood bank market?
• What is the patent landscape of the market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?

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