The Blood Banking Equipment Market, as highlighted by Meticulous Research®, is forecast to grow to $24.26 billion by 2030, registering a compound annual growth rate (CAGR) of 4.6% between 2024 and 2030. Several factors are fueling this growth, including the increasing global demand for blood and blood-related products, the rising number of surgical procedures, and advancements in automation technology. Furthermore, emerging markets, particularly in developing countries, present significant opportunities for growth, supported by government initiatives to promote blood donation and transfusion.

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Market segmentation is based on Product, Functionality, End User, and Geography. In terms of products, the market is divided into Blood Collection Equipment (needles, syringes, tubes, blood bags), Blood Processing Equipment (centrifuges, blood analyzers, and processors), and Blood Storage Equipment (blood bank refrigerators and freezers). Functionality-wise, it includes Automated and Manual Blood Banking Equipment, each offering unique benefits based on the level of automation required in blood banking activities.

In 2024, the blood collection equipment segment is anticipated to hold the largest share of the market. This dominance is attributed to the rising demand for devices like syringes, tubes, and blood bags, which are essential for the increasing volume of global blood donations. These devices are also in high demand due to the growing need for blood components used in the treatment of various diseases.

When it comes to functionality, automated blood banking equipment is projected to witness the highest CAGR during the forecast period. This segment is growing due to the labor shortage in the healthcare sector and the increasing workload in blood banks, necessitating the adoption of automated solutions to handle blood collection and processing more efficiently.

In terms of end users, the blood banking equipment market is led by blood banks, which are expected to hold the largest share by 2024. Blood banks play a critical role in collecting, processing, and storing blood for use in hospitals and other medical facilities. As the number of surgical procedures continues to rise globally, the demand for blood and blood-related products from blood banks is expected to increase, further driving the need for equipment in this sector.

Geographically, Asia-Pacific is expected to register the highest CAGR during the forecast period. The growth in this region is driven by rising healthcare spending, improving infrastructure for blood banking, and growing initiatives to encourage blood donations. Additionally, the region’s aging population is contributing to an increased prevalence of chronic diseases, further fueling the demand for blood transfusions and related equipment.

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Prominent companies in the blood banking equipment market include Abbott Laboratories, Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Terumo Corporation, Bio-Rad Laboratories, bioMérieux SA, and Sysmex Corporation. These companies are at the forefront of technological innovation, continually introducing advanced products to meet the evolving needs of the market.

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