Report : US Blood Bank Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Whole Blood, RBC, Platelets, Plasma, and WBC), Function (Collection, Processing, Testing, Storage, and Transportation), Bank Type (Private and Public), End User (Hospitals, Ambulatory Surgery Centers, Pharmaceutical Companies, and Others)
PlasmaSegment toLead US Blood Bank Market GrowthDuring the Forecast Period
According to The Insight Partners market research study of “US Blood BankForecast to 2027 - COVID-19 Impact and AnalysisbyType, Function, Bank Typeand EndUser,”the market isprojectedto reach US$ 6,025.26 million by2027 from US$ 3,975.02 million in2019; it is estimated to grow at CAGR of 5.5% from 2020 to 2027. The report highlights trends prevailing in the US blood bank market and the factors driving market along with those hindering it.
Based on type,the US blood bank market is further segmented into whole blood, plasma, RBC, platelets, and WBC. The whole bloodsegment held the largestshare of the market in 2019; moreover, the plasma segment is anticipated to register the highest CAGR in the market during the forecast period. Plasma is the clear, liquid portion of blood that holds the components of whole blood, such as red and white blood cells (RBCs and WBCs, respectively) and platelets. It consists of 7% vital proteins such as albumin, gamma globulin, and anti-hemophilic factor, and 1% mineral salts, sugars, fats, hormones and vitamins. Moreover, increasing cases of COVID-19 patients in the US are in dire need of plasma from recovered patients. Many organizations are striving to address this need, and these are part of the "critical infrastructure industry" as per the President's Coronavirus Guidelines. For instance, Grifols operates a network of blood plasma donor centers in the US.
The growth US blood bank marketis attributed to the high prevalence of hematologic diseases and rise in the number of road accidents. However, non-compliance with regulations is the major factor hindering the market growth. Moreover, increasing number blood donation awareness programsprovide opportunity for the growth of the market players.
Bloodworks Northwest;San Diego Blood Bank;America’s Blood Centers;CSL Plasma;Blood Centers of America;The American National Red Cross;Vitalant;Interstate Blood Bank, Inc.;and New York Blood Centerare among the leading companies operating in the US blood bank market.
The report segments in US blood bankmarket as follows:
By Bank Type
By End User