Blood Bank Information Systems Market Growth & Analysis 2028

Blood Bank Information Systems Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Blood Donor Management Module, Blood Bank Transfusion Service Module, and Others), End User (Hospitals and Blood Banks), and Geography

  • Report Code : TIPRE00021102
  • Category : Healthcare IT
  • Status : Published
  • No. of Pages : 140
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The blood bank information systems market is projected to reach US$ 1,103.95 million by 2028 from US$ 659.87 Million in 2021; it is expected to grow at a CAGR of 7.6% from 2021 to 2028.



The rising number of blood donors and blood donations is one of the key factors driving the blood bank information systems market size. Hematologic diseases are the second-leading cause of the rising demand for blood. According to World Health Organization (WHO), approximately 118.4 million blood donations are collected from across the globe. Out of which 40% of these are collected in high-income countries. Moreover, there are around 13,300 blood centers in 169 countries that report a collection of 106 million donations. Additionally, WHO also states that according to the gender profile of blood donors, globally 33% of the blood donations are given by women. It has also been reported that an increase of 7.8 million blood donations from voluntary unpaid donors has been witnessed by 156 countries from 2013 to 2018. The highest increase of voluntary unpaid blood donations is witnessed in the Regions of Americas with 25% and 23% in Africa. Thus, fueling the demand for blood bank information systems market growth.

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Blood Bank Information Systems Market: Strategic Insights

Blood Bank Information Systems Market

  • CAGR (2021 - 2028)
    7.6%
  • Market Size 2021
    US$ 659.87 Million
  • Market Size 2028
    US$ 1,103.95 Million

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • Hemosoft
  • Cerner Corporation
  • Allscripts Healthcare, LLC
  • Haemonetics Corporation
  • Integrated Medical Systems
  • Soft Computer Consultants, Inc.
  • IT Synergistics
  • Pysche Systems Corporation
  • Wellsky

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Type
  • Blood Donor Management Module
  • Blood Bank Transfusion Service Module
  • Others
End User
  • Hospitals and Blood Banks
Geography
  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South and Central America
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.


North America held the largest share of the blood bank information systems market and is expected to continue its position in the blood bank information systems market over the coming years. The factors that have enabled the North America region to be the largest market include increasing demand for safe blood transfusion and the rising number of hospitals and blood banks in the region. Moreover, rising awareness among people about donating blood has also contributed to the growth of the blood bank information systems market in the region. The American Red Cross (ARC) collects about 45% of the 14 million units of whole blood available for use annually in the US. Other community blood banks collect about 42%, hospitals collect about 11%, and the remaining 2% are imported. Hospital blood banks must have a computer-based information system to comply with requirements. Thus, the factors mentioned above are driving the blood bank information systems market growth.

Lucrative Regions for Blood Bank Information System Market

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Market Insights

Significant Rise in the Prevalence of Hematologic Diseases Drives Blood Bank Information Systems Market Growth

The increasing prevalence of blood cancer, including leukemia, has led to a significant rise in blood transfusion procedures and bone marrow cell transplants. According to American Red Cross, it has been found that around 29,000 units of red blood cells are required each day in the US. Also, nearly 5,000 units of platelets and 6,500 units of plasma are needed everyday in the US. Additionally, 16 million blood components are transfused each year in the US. Also, they reported that more than 1.8 million people were diagnosed with cancer in 2020. Thus, the rising hematologic diseases have led to the surge in demand for blood transfusions, which has further fueled the demand for blood bank information systems globally.


Type Based Insights

Based on type, the blood bank information systems market is segmented into blood donor management module, blood bank transfusion service module, and others. The blood donor management module segment is accounting for the largest market share and is expected to lead the blood bank information systems market during the forecast period. Blood donor management modules have gained attention in the global blood bank information systems market due to their information system that maintains daily transactions in a blood bank. The system maintains many records, and the search for blood is made very efficient and quick. Many companies are launching this system, such as HEMOSOFT has been serving the Turkish Red Crescent in the capacity of the national blood banking software in the blood centers and regional blood centers across the country. Further, it employs warning, advice, and decision-making tools to ensure errors are avoided, and that processing is completed quickly. The factors mentioned above have further fostered the blood donor management module segment growth in the market.

Blood Bank Information Systems Market, by Type – 2020 and 2028

healthcare-it
Blood Bank Information Systems Market, by Type – 2020 and 2028
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

End User Based Insights

By end-user, the blood bank information systems market is segmented into hospitals and blood banks. The hospital segment is likely to hold the largest share of the blood bank information systems market in 2021, and it’s attributed to continue its dominance in the blood bank information systems market during the forecast period. Blood bank is a type of healthcare setting that provides services related to the storage of blood and its components and has an advanced blood storage facility to store different blood groups. The blood banks also deal with preserving the blood samples and blood bags that the donors donate. This blood is used for patients in an emergency such as blood loss during surgery, blood cancer, and other blood-related disorders. American Heart Association (AHA) approved the hospitals to develop blood bank facilities at the hospital level to make quick and easy availability of blood in case of emergency. The aforementioned factors have raised the demand for blood bank information systems.

 

Companies operating in the blood bank information systems market adopt the product innovation strategy to meet the evolving customer demands worldwide, which also permits them to maintain their brand name in the global blood bank information systems market.

Blood Bank Information Systems Market – Segmentation

Based on type, the blood bank information systems market is segmented into blood donor management module, blood bank transfusion service module, and others

By end user, the blood bank information systems market is segmented into hospitals and blood banks

Blood Bank Information Systems Market – by Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South and Central America (SCAM)
    • Brazil
    • Argentina
    • Rest of SCAM

Company Profiles

  • Hemosoft
  • Cerner Corporation
  • Allscripts Healthcare, LLC
  • Haemonetics Corporation
  • Integrated Medical Systems
  • Soft Computer Consultants, Inc.
  • IT Synergistics
  • Pysche Systems Corporation
  • Wellsky
  • Sunquest Information Systems, Inc.

Blood Bank Information Systems Market Report Scope

Report Attribute Details
Market size in 2021 US$ 659.87 Million
Market Size by 2028 US$ 1,103.95 Million
Global CAGR (2021 - 2028) 7.6%
Historical Data 2019-2020
Forecast period 2022-2028
Segments Covered By Type
  • Blood Donor Management Module
  • Blood Bank Transfusion Service Module
  • Others
By End User
  • Hospitals and Blood Banks
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Hemosoft
  • Cerner Corporation
  • Allscripts Healthcare, LLC
  • Haemonetics Corporation
  • Integrated Medical Systems
  • Soft Computer Consultants, Inc.
  • IT Synergistics
  • Pysche Systems Corporation
  • Wellsky
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Type, End User, and Geography

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    What is blood bank information systems?

    Blood bank information systems are software that manages the workflow of blood banks. The software looks after blood supply chains, donor and transfusion information, and another administrative workflow. The system helps store vast data related to patients, blood donors, and supply chain that is difficult for a person to manage through paper works. The rising adoption of IT in healthcare is leveraging blood bank information systems across the world.

    What are the driving factors for the blood bank information systems market?

    Key factors that are driving the growth of the blood bank information systems market over years are the increasing number of blood donations and blood donors and rising prevalence of hematologic diseases on blood bank information systems.

    Which product type dominates the market?

    The blood donor management module segment dominated the blood bank information systems market and held the largest market share of 41.59% in 2021.

    Which end user led the market?

    The hospital segment dominated the blood bank information systems market and held the largest market share of 57.53% in 2021.

    Who are the key players in the blood bank information systems market?

    The blood bank information systems market majorly consists of the players such as Cerner Corporation, Allscripts Healthcare, LLC, Haemonetics Corporation, WellSky, Hemosoft, Integrated Medical Systems, Soft Computer Consultants, Inc., IT Synergistics, Psychē Systems Corporation, and Sunquest Information Systems, Inc among others.

    What is the regional market scenario of the blood bank information systems market?

    Global blood bank information systems market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In North America, the U.S. is the largest market for blood bank information systems market. The growth of the market in the country is attributable to the high prevalence of hematological diseases and a rise in number of accidental cases. According to the WHO, injuries cost 16,000 lives every day; furthermore, for every person who dies, numerous more people are injured—many of them with permanent sequelae.

    The List of Companies - Blood Bank Information Systems Market

    1. Hemosoft
    2. Cerner Corporation
    3. Allscripts Healthcare, LLC
    4. Haemonetics Corporation
    5. Integrated Medical Systems
    6. Soft Computer Consultants, Inc.
    7. IT Synergistics
    8. Pysche Systems Corporation
    9. Wellsky
    10. Sunquest Information Systems, Inc.

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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