The "US Blood Bank Market Forecast to 2027 - COVID-19 Impact and Analysis - by Type, Function, Bank Type, End User" report has been added to ResearchAndMarkets.com's offering.
The US blood bank market is expected to reach US$ 6,025.26 million by 2027 from US$3,975.02 million in 2019
It is expected to grow with a CAGR of 5.5% from 2020 to 2027.The growth of the market is attributed to the key factors such as the high prevalence of hematologic diseases and rise in the number of road accidents. On the other hand, the market growth would be hindered by the disability of blood banks to comply with regulations.
Distracted driving is a growing concern in the US. As per the National Highway Traffic Safety Administration, the country witnesses ~5.5 million car accidents, accounting for 3 million injuries and 40,000 fatalities each year. Also, ~60,000 injuries and 5,000 deaths occur as a result of truck accidents each year. Rising accident count in the country is leading to high demand for blood for treating trauma cases and carrying out surgeries.
For instance, as per The American National Red Cross, a single-car accident patient can require ~100 units of blood. In the last few years, cases of fatal injuries have increased in the US. As per the National Center for Health Statistics, ~31 million injured people seek medical treatment each year in the country. Of these, ~2 million are severe enough to require some form of hospitalization.
Apart from this, workplace injuries have also increased in the last few years. As per the National Safety Council, a worker is injured at the workplace every 7 seconds. Thus, increasing accidents, trauma cases, and severe injuries are emphasizing the huge requirement of stored blood, thereby boosting the blood bank market in the country.
Based on type, the US blood bank market is segmented into whole blood, plasma, RBC, platelets, and WBC. In 2019, the whole blood segment held the largest share of the market. Moreover, the plasma segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on the function, the US blood bank market was segmented into testing, processing, storage, transportation, and collection.The testing segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR during the forecast period.
Based on bank type, the US blood bank market is segmented into private and public. In 2019,the private segment accounted for a larger share of the market and is anticipated to register a higher CAGR during the forecast period.
The market has been segmented on the basis of end user into hospitals, ambulatory surgery centers, pharmaceutical companies, and others. The hospitals segment accounted for the largest market share in 2019, and the market for the same is also anticipated to grow at the highest CAGR during the forecast period.
A few of the major primary and secondary sources referred to while preparing this report on the US blood bank market are American Association of Blood Banks (AABB), America's Blood Centers (ABC), Food and Drug Administration (FDA), and Centers for Disease Control and Prevention (CDC).
Key Topics Covered:
2. Blood Bank Market - Key Takeaways
3. Research Methodology
4. Blood Bank Market - Market Landscape
4.2 PEST Analysis
4.2.1 United States - PEST Analysis
5. United States Blood Bank Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 High Prevalence of Hematologic Diseases
5.1.2 Rise in Road Accidents
5.2 Market Restraints
5.2.1 Non-Compliance with Regulations
5.3 Market Opportunities
5.3.1 Increasing Blood Donation Awareness Programs
5.4 Future Trends
5.4.1 Technological Advancement
5.5 Impact Analysis
6. Blood Bank Market - United States Analysis
6.1 United States Blood Bank Market Revenue Forecast And Analysis
6.2 Market Positioning of Key Players
7. Blood Bank Market- By Type
7.2 Blood Bank Market Revenue Share, by Type (2019 and 2027)
7.3 Whole Blood
8. Blood Bank Market Analysis, by Function
8.2 Blood Bank Market Revenue Share, by Function (2019 and 2027)
9. Blood Bank Market Analysis, by Bank Type
9.2 Blood Bank Market Revenue Share, by Bank Type (2019 and 2027)
9.3.2 Private: Blood Bank Market - Revenue and Forecast to 2027 (US$ Million)
10. Blood Bank Market Analysis, by End User
10.2 Blood Bank Market Revenue Share, by End User (2019 and 2027)
10.4 Ambulatory Surgery Centers
10.5 Pharmaceutical Companies
11. Blood Bank Market - Geographic Analysis
11.1 United States: Blood Bank Market
11.1.2 United States: Blood Bank Market - Revenue and Forecast to 2027 (USD Million)
11.1.3 United States: Blood Bank Market, by Type, 2018-2027 (USD Million)
11.1.4 United States: Blood Bank Market, by Testing, 2018-2027 (USD Million)
11.1.5 United States: Blood Bank Market, by Bank Type, 2018-2027 (USD Million)
11.1.6 US: Blood Bank Market, by End User, 2018-2027 (USD Million)
12. Impact of COVID-19 Pandemic on United States Blood Bank Market
12.1 United States: Impact Assessment of COVID-19 Pandemic
13. Company Profiles
13.1 Key Facts
13.2 Business Description
13.3 Products and Services
13.4 Financial Overview
13.5 SWOT Analysis
13.6 Key Developments
San Diego Blood Bank
America's Blood Centers
Blood Centers of America
The American National Red Cross
New York Blood Center
Interstate Blood Bank, Inc.
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