Blood and organ bank market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 6.10% in the forecast period of 2021 to 2028. The increasing prevalence of hematological diseases among population across the globe is escalating the growth of blood and organ bank market.
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Blood bank refers to an institute where blood and its components such as blood cells, platelets and plasma are stored which are then utilized in the blood transfusion process. Blood transfusion is done in case of blood loss disorders including sickle cell anemia, anemia, blood cancer and thalassemia and accidental emergency. Similarly, organ bank is an institute where organs are stored which are then used for organ transplantation. Organ transplantation refers to a process of replacing diseased or failed organs with another through surgery.
The increase in the number of research and development activities in biotechnology sector and technological advancement are the major factors driving the blood and organ bank market. The increasing rate of blood-borne diseases, hematological diseases including blood cancer, anemia, sickle cell anemia and thalassemia and transfusion transmissible infections are also act as a driving factor. The rise in number of accidental cases and geriatric population influence the blood and organ bank market. Furthermore, the increase in usage of blood transfusion and cell therapy in the emerging markets extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
North America dominates the blood and organ bank market because of the high demand of organ transplants and well developed healthcare infrastructure in the region. Asia-Pacific is estimated to grow in the forecast period of 2021-2028 due to the government initiatives to support blood donation and increase in number of blood banking units in the developing nations.
The major players covered in the blood and organ bank market report are The American National Red Cross, Blood Systems, Inc., MTF Biologics., New York Blood Center, NEW ENGLAND ORGAN BANK, INC., The Living Bank, National Organ & Tissue Transplant Organisation, Global Cord Blood Corporation., CBR Systems, Inc., Vitalant., Terumo Corporation, NHS Blood and Transplant, National Blood Transfusion Council., Sanquin, America’s Blood Centers., Canadian Blood Services., Takeda Pharmaceutical Company Limited., Shanghai RAAS, Macopharma, Haemonetics Corporation, Abbott., Beckman Coulter, Inc. among other domestic and global players.
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