Blood Bank Information Systems Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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Are Blood Bank Information Systems Expected To Display Notable Growth?
The blood bank information systems market size has grown strongly in recent years. It is estimated to grow from $0.72 billion in 2023 to $0.78 billion in 2024 at a compound annual growth rate CAGR of 8.3%. Several factors contribute to this growth, including increasing demand for blood transfusions, the growing prevalence of chronic diseases, regulatory requirements, the need for efficient blood management, and the rise in surgical procedures.

What Is The Market Size Forecast For Blood Bank Information Systems By 2028?
Evaluating the future trends, the blood bank information systems market size is expected to witness strong growth in the coming years. It is due to expand to $1.08 billion in 2028 at a compound annual growth rate CAGR of 8.5%. The acceleration is anticipated due to factors such as integration with electronic health records, patient safety emphasis, a rising number of blood donation drives, expanding reach in emerging markets, and enhanced data analytics capabilities. Some major trends marking the forecast period include increasing integration with electronic health records, automation in blood collection, adoption of blockchain technology, emphasis on data security, and improved user interfaces.

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What Role Does The Increasing Prevalence Of Blood Cancer Play In Market Growth?
The increasing prevalence of blood cancer is one of the pivotal drivers propelling the growth of the blood bank information systems market. Blood cancer, often referred to as hematologic cancer, is rising due to environmental factors, genetic predispositions, lifestyle factors, and infections. Blood bank information systems significantly aid these patients by managing and tracking blood donations and transfusions, thus ensuring timely access to compatible blood products. For instance, according to projections from the Australia-based Leukemia Foundation in May 2024, around 19,403 Australians were expected to be newly diagnosed with blood cancers such as leukemia, lymphoma, and myeloma. This translates to approximately 53 diagnoses per day or one diagnosis every 27 minutes. Currently, around 135,000 people are living with a blood cancer or related disorders in Australia, with a projected increase to more than 275,000 individuals by 2035. Thus, the rising prevalence of blood cancer is a significant factor driving the growth of the blood bank information systems market.

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Who Are The Major Companies Operating In The Market?
The blood bank information systems market comprises several major companies operating to enhance this sector. These companies include Grifols S.A., Sysmex Corporation, Epic Systems Corporation, Haemonetics Corporation, Sunquest Information Systems Inc., WellSky Technologies Inc., Soft Computer Consultants Inc., LABVANTAGE Solutions Inc., Integrated Medical Systems International Inc., Luminous Infoways Pvt. Ltd., Mediware Information Systems Inc., Mak-System, Orchard Software Corporation, Dataman Computer Systems Pvt. Ltd., Hemosoft, Slashdot Media Inc., Blood Bank Computer Systems Inc., Strides Software Solutions Pvt Ltd, Sara Technologies Pvt. Ltd., IT Synergistics Inc., Digi-Trax Corporation.

What Emerging Trends Are Observable In The Market?
Innovation is a resonating trend in the market, with major companies focusing on developing novel solutions as enterprise resource planning ERP software, which caters to the unique needs of blood banks and advanced therapy providers. As an example, in June 2023, the US-based Blood Bank Computer Systems Inc. launched the ForLife Biologics Platform, a state-of-the-art ERP software designed explicitly for the blood and biotherapies sector. This software aims to streamline operations regarding the collection, manufacturing, and distribution of blood products and advanced therapies.

How Is The Blood Bank Information Systems Market Segmented?
There are various ways to segment the blood bank information systems market.

1 By Type: Blood Donor Management Module, Blood Bank Transfusion Service Module, Other types
2 By Application Type: Web-Based, Mobile-Based
3 By End User: Hospital, Blood Banks

Regional Insights: Which Region Leads The Market?
North America was the largest region in the blood bank information systems market in 2023. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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