Blood Bank Management Software Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.10 Billion |
| Market Size (2029) | USD 1.72 Billion |
| CAGR (2024 - 2029) | 9.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Blood Bank Management Software Market Analysis
The Blood Bank Management Software Market size is estimated at USD 1.10 billion in 2024, and is expected to reach USD 1.72 billion by 2029, growing at a CAGR of 9.5% during the forecast period (2024-2029).
The blood management software market focuses on developing digital solutions to streamline various aspects of blood supply chain management within healthcare settings. Factors such as the increasing number of blood donors, the high prevalence of hematologic diseases, and technological advancements in blood banking technology are poised to fuel market growth over the forecast period.
The high number of blood donors increases the need for blood management software in blood banks, which is expected to drive market growth over the study period. For instance, according to the report published by the Australian Red Cross Lifeblood, in 2022, 110,747 new donors were reported in Australia. In addition, the report stated that the most trafficked donor center was Melbourne, with 28,000 donors, followed by Town Hall in Sydney, with 21,000 donors. The country's high number of new blood donors is expected to increase the demand for blood management software, boosting the market's growth over the forecast period.
Furthermore, the advancements in blood banking technology are expected to improve the blood donation process, which may increase the need for blood management software. For instance, in January 2023, Abbott and Blood Centers of America launched a new mixed reality experience for use during blood donation. Mixed reality technology, an immersive digital experience, aims to enhance the blood donation process, draw in new donors, and drive the demand for blood management software. Thus, the high number of blood donations and technological advancements in the blood bank industry are expected to boost market growth over the forecast period.
However, the lack of knowledgeable and skilled professionals in blood management software is expected to impede market growth during the forecast period.
Blood Bank Management Software Market Trends
The Blood Banks Segment is Expected to Register Significant Growth in the Market During the Forecast Period
A blood bank is a center where blood collected through blood donations is stored for later use in transfusions. It plays a vital role in collecting blood and managing blood stocks. Hence, the demand for blood management software is expected to be high in the blood bank segment.
Increasing blood donations in the blood banks and technological advancements in blood banking management are expected to drive the segment's growth during the forecast period. For instance, in September 2022, the Union Minister for Health & Family Welfare India inaugurated blood donation as a part of Raktdaan Amrit Mahotsav. This nationwide drive was supported by the centralized blood bank management information system called the E-Rakt Kosh portal, which acted as a national repository of blood donors. This type of new management solution helps maintain blood donations, which is expected to boost the segment's growth.
Furthermore, establishing new blood banks increases the need for blood management software. For instance, in August 2023, the Prime Minister of Somalia officially opened the Somali National Blood Bank in Mogadishu with backing from the United Nations and the Somali government. This initiative was a joint endeavor involving the Government of Somalia, the United Nations Office for Project Services (UNOPS), the United Nations Population Fund (UNFPA), and the World Health Organization (WHO). Hence, establishing these new blood banks requires proper blood management solutions, which are expected to boost the segment's growth over the study period.
North America is Expected to Hold a Significant Share in the Market During the Forecast Period
North America is expected to register a significant share in the market studied owing to the increasing burden of blood disorders and the adoption of advanced blood management solutions in the region. In addition, establishing new blood centers in the area is expected to boost market growth.
The new agreements among the market players for blood management in various end users like hospitals and blood banks are expected to drive market growth in the region. For instance, in August 2022, Haemonetics Corporation entered an agreement with Epic to offer Haemonetics' SafeTrace Tx blood bank information system to Epic's network of hospitals. These agreements may aid in properly handling blood donations in hospital settings, which may boost the market growth in the region.
In addition, new campaigns to increase blood donations among the public may increase the demand for blood management software. For instance, in August 2022, the Health and Human Services (HHS) launched a campaign to increase awareness about the importance of donating blood, which is expected to increase blood donations in the United States. Therefore, the new agreements among the market players and blood donation campaigns are expected to significantly impact the North American market.
Blood Bank Management Software Industry Overview
The blood management software market is semi-consolidated and comprises major market players in various regions. The majority of the blood management software is provided by global key players. Some of the key market players include Oracle (Cerner Corporation), Veradigm LLC, WellSky, Mediware, and Haemonetics Corporation.
Blood Bank Management Software Market Leaders
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Oracle (Cerner Corporation)
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Veradigm LLC
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WellSky
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Mediware
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Haemonetics Corporation
*Disclaimer: Major Players sorted in no particular order
Blood Bank Management Software Market News
- November 2023: Blod.in launched Blod+, a transformative healthcare software and logistics platform for blood management and delivery in India.
- June 2023: MAK-System entered an extended and strategic partnership with New York Blood Center Enterprises (NYBCe). Over the next decade, this initiative seeks to revolutionize the management and delivery of blood to patients, harnessing the advantages of managed services.
Blood Bank Management Software Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Number of Blood Donors and High Prevalence of Hematologic Diseases
4.2.2 Technological Advancements in Blood Banking Technology
4.3 Market Restraints
4.3.1 Lack of Knowledgeable and Skilled Professionals in the System
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Type
5.1.1 Blood Donor Management Module
5.1.2 Blood Bank Transfusion Service Module
5.1.3 Blood Collection and Processing Module
5.1.4 Other Types
5.2 By Application Type
5.2.1 Web-based
5.2.2 Mobile-based
5.3 By End User
5.3.1 Hospital
5.3.2 Blood Banks
5.3.3 Blood Processing Centers
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Oracle (Cerner Corporation)
6.1.2 Veradigm LLC
6.1.3 Haemonetics Corporation
6.1.4 WellSky
6.1.5 Hemosoft
6.1.6 Integrated Medical Systems
6.1.7 Soft Computer Consultants Inc.
6.1.8 IT Synergistics
6.1.9 Sunquest Information Systems Inc.
6.1.10 Mediware
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Blood Bank Management Software Industry Segmentation
Blood management software is a comprehensive solution tailored to streamline the storage, processing, retrieval, and analysis of data pivotal to the administrative, inventory, and clinical operations of blood banks.
The blood management software market is segmented into type, application type, end user, and geography. By type, the market is segmented into blood donor management module, blood bank transfusion service module, blood collection and processing module, and other types. The other types segment include inventory management, patient blood management, and others. By application type, the market is segmented into web-based and mobile-based. By end user, the market is segmented into hospitals, blood banks, and blood processing centers. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. For each segment, the market size and forecast are provided in terms of value (USD).
| By Type | |
| Blood Donor Management Module | |
| Blood Bank Transfusion Service Module | |
| Blood Collection and Processing Module | |
| Other Types |
| By Application Type | |
| Web-based | |
| Mobile-based |
| By End User | |
| Hospital | |
| Blood Banks | |
| Blood Processing Centers |
| Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| Rest of the World |
Blood Bank Management Software Market Research FAQs
How big is the Blood Bank Management Software Market?
The Blood Bank Management Software Market size is expected to reach USD 1.10 billion in 2024 and grow at a CAGR of 9.5% to reach USD 1.72 billion by 2029.
What is the current Blood Bank Management Software Market size?
In 2024, the Blood Bank Management Software Market size is expected to reach USD 1.10 billion.
Who are the key players in Blood Bank Management Software Market?
Oracle (Cerner Corporation), Veradigm LLC, WellSky, Mediware and Haemonetics Corporation are the major companies operating in the Blood Bank Management Software Market.
Which is the fastest growing region in Blood Bank Management Software Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Blood Bank Management Software Market?
In 2024, the North America accounts for the largest market share in Blood Bank Management Software Market.
What years does this Blood Bank Management Software Market cover, and what was the market size in 2023?
In 2023, the Blood Bank Management Software Market size was estimated at USD 1.00 billion. The report covers the Blood Bank Management Software Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Blood Bank Management Software Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Blood Bank Management Software Industry Report
Statistics for the 2024 Blood Bank Management Software market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Blood Bank Management Software analysis includes a market forecast outlook for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
