Blood Bank Information Systems Market Expected to Reach $1.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Blood Bank Information Systems Market," The blood bank information systems market was valued at $557.21 million in 2021, and is estimated to reach $1,184.2 million by 2031, growing at a CAGR of 7.8% from 2022 to 2031.

Blood Bank Information System (BBIS) is a browser based system that is designed to store, process, retrieve and analyze information concerned with the administrative and inventory management within a blood bank. This system aims at maintaining all the information pertaining to blood donors, different blood groups available in each blood bank and help them manage in a better way. The system aims at providing transparency in this field, make the process of obtaining blood from a blood bank hassle free and corruption free and make the system of blood bank management effective. The donors who are interested in donating blood need to register in the database. The software are generally integrated with CRM (customer relationship management) as well as CMS (content management system) solution. These software are designed in such a way to make them easily manageable, time saving and relieving one from manual works. The donors update their status whether they are available or not.

Globally, blood donations and blood donors are increasing, owing to the rising prevalence of hematological diseases and an upsurge in accidents, thereby increasing the blood bank information systems market size. The demand for blood donations is increasing due to the rising prevalence of hematological diseases across the world. According to the Leukemia and Lymphoma Society (LLS), one person in the US is diagnosed with leukemia, lymphoma, and myeloma around every 3 minutes. In addition, the U.S. recorded around 186,400 cases of leukemia, lymphoma, and myeloma in 2021. Furthermore, out of an estimated 1,898,160 new cancer cases in the country, approximately 9.8% were blood cancer cases in 2021.

The increasing prevalence of blood cancer, such as leukemia, leads to a significant rise in blood transfusion procedures and bone marrow cell transplants thus propelling blood bank information systems market size. According to American Red Cross, around 29,000 units of red blood, nearly 5,000 units of platelets, and 6,500 units of plasma are required every day for various hematologic diseases in the US. Additionally, 16 million blood components are transfused for different blood-related illnesses such as blood cancer and others each year in the US. Also, they have reported that more than 1.8 million people was diagnosed with cancer in 2020. Thus, the rising hematologic diseases propel the demand for blood transfusions, which fuels the global blood bank information systems market growth.

The COVID-19 had a distinctly negative effect on blood bank information systems industry forcing blood banks, blood centers, and the government to adopt new policies to adapt to a decreased blood supply as well as to protect the donors from COVID-19.

The blood bank information systems market is segmented on the basis of type, end user, application type, and region. By type, it is categorized into blood donor management module, blood bank transfusion service module, and others. According to application types, the market is segmented into web-based, and mobile based. Depending on end user, it is classified into hospital, and blood banks. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

By type, the blood donor management module segment currently dominated the global market in 2021 and is expected to continue during the forecast period, owing to blood bank information systems market trends like increased benefits of blood banks information systems such as safety blood data storage and efficient communication among the healthcare organizations.

By application type, the web-based segment dominated the market in 2021, and this trend is expected to continue during the forecast period owing to increase in healthcare expenditure and technological advancements which also provides blood bank information systems market opportunity.

By end user, the hospital segment dominated the market in 2021, and this trend is expected to continue during the forecast period owing to increase in number of hospitals.

By region, Europe accounted for the largest market share in the blood bank information systems industry in 2021 and is expected to retain its dominance throughout the forecast period. This is primarily attributed to rise in awareness of blood donations, increasing demand for safe blood transfusion and the rising number of hospitals and blood banks. Asia-Pacific witnessed the highest growth rate for the blood bank information systems market and is expected to continue this trend throughout the forecast period, which is attributed to strong presence of key players, increased healthcare expenditure, higher number of hospitals and blood banks, and higher adoption of advanced technologies.

The report provides a comprehensive analysis of the key players that operate in the global blood bank information systems market. The key companies profiled in the report include Allscripts Healthcare, LLC, Cerner Corporation, CompuGroup Medical SE & Co. KGaA, Haemonetics Corporation, Hemosoft, Integrated Medical Systems, IT Synergistics, Roper Technologies, Inc., SCC Soft Computer, WellSky.

KEY FINDINGS OF STUDY

• On the basis of type, the blood donor management module segment held major blood bank information systems market share in the global market in 2021.
• On the basis of application type, the web-based segment held the largest market blood bank information systems market share in 2021, and is expected to remain dominant throughout the forecast period.
• On the basis of end user, the hospital segment held the largest market share in 2021, and is expected to remain dominant throughout the blood bank information systems market forecast period.
• Region wise, Europe is expected to experience the highest market share during the blood bank information systems market analysis period.