Meticulous Research® projects that the Blood Banking Equipment Market will reach a value of $24.26 billion by 2030, expanding at a CAGR of 4.6% from 2024 to 2030. The rising demand for blood and blood-related products, coupled with an increasing number of surgical procedures and technological advancements in blood banking, is driving this growth. Additionally, emerging markets and supportive government initiatives aimed at promoting blood transfusion practices are opening new avenues for market development.

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The market is segmented by Product, Functionality, End User, and Geography. Key product categories include Blood Collection Equipment, such as needles, syringes, blood bags, and tubes; Blood Processing Equipment, like centrifuges, blood analyzers, and filters; and Blood Storage Equipment, such as refrigerators and freezers. Functionality is split between Automated Blood Banking Equipment, which is growing in demand due to labor shortages, and Manual Blood Banking Equipment, which remains in use in certain regions.

In 2024, the blood collection equipment segment is expected to dominate the market due to the increasing volume of global blood donations. This segment includes vital tools such as needles and syringes, which are in high demand for blood collection and medical procedures. The increasing need for blood components to treat specific diseases also supports the growth of this segment.

The automated blood banking equipment segment is forecast to grow at the highest CAGR during the projection period. Automation is becoming increasingly important in blood banks, where efficiency and precision are crucial. Automated systems reduce manual errors, streamline processes, and meet the rising demand for blood products in healthcare systems worldwide.

Blood banks, as an end user, are anticipated to hold the largest share of the market in 2024. As the primary source of blood and blood-related products for hospitals and medical facilities, blood banks require extensive equipment to manage the collection, processing, and storage of blood. The increasing number of surgeries being performed globally has resulted in higher demand for these products, reinforcing the need for well-equipped blood banks.

Regionally, Asia-Pacific is set to experience the highest growth rate during the forecast period. This rapid growth is driven by rising healthcare expenditures, improvements in blood banking infrastructure, and growing initiatives to promote blood donations. The region’s aging population is also contributing to a rise in chronic diseases, further increasing the demand for blood transfusions.

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Leading companies in the blood banking equipment market include Abbott Laboratories, F. Hoffman-La Roche Ltd., Thermo Fisher Scientific Inc., Danaher Corporation, Fresenius Kabi AG, Becton, Dickinson and Company, and Sysmex Corporation. These players are heavily investing in technological advancements and expanding their product portfolios to maintain a competitive edge in the market.

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