Blood Bank Management Software Market Size (2024 - 2029)

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 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).