PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1856945
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1856945
According to Stratistics MRC, the Global Blood Banking & Storage Equipment Market is accounted for $17.0 billion in 2025 and is expected to reach $23.4 billion by 2032 growing at a CAGR of 4.6% during the forecast period. Blood banking and storage equipment refers to specialized medical devices and systems used for the collection, processing, preservation, and storage of blood and its components. These include blood refrigerators, plasma freezers, platelet incubators, centrifuges, and blood bank analyzers. Designed to maintain optimal temperature and sterility, this equipment ensures the safety, viability, and traceability of blood products for transfusions and medical procedures. It plays a critical role in hospitals, diagnostic labs, and blood banks by supporting efficient inventory management, regulatory compliance, and emergency preparedness. Advanced technologies also enable automation, real-time monitoring, and improved donor-to-recipient matching for better healthcare outcomes.
Increasing demand for blood transfusions
The growing demand for blood transfusions is a key driver of the Blood Banking & Storage Equipment Market. Rising incidences of trauma, surgeries, chronic diseases like cancer and anemia, and aging populations are increasing the need for safe and efficient blood storage. Hospitals and healthcare facilities are expanding their blood management capabilities, which boost the demand for advanced storage equipment. This trend is further supported by growing awareness of voluntary blood donation and the need for emergency preparedness in healthcare systems.
High cost of advanced equipment
The high cost of advanced blood banking and storage equipment poses a significant restraint to market growth. Sophisticated devices such as plasma freezers, automated analyzers, and temperature-controlled storage units require substantial capital investment. These costs can be prohibitive for smaller healthcare facilities and blood banks, particularly in developing regions. Additionally, ongoing maintenance, calibration, and compliance with regulatory standards add to operational expenses. This financial burden may limit adoption and slow modernization efforts in resource-constrained environments.
Technological advancements
Technological advancements present a major opportunity for the market. Innovations such as automated blood processing systems, RFID-enabled inventory tracking, and smart temperature monitoring enhance efficiency, safety, and traceability. These technologies reduce human error, improve storage conditions, and support regulatory compliance. Integration with digital health platforms and real-time data analytics also enables better decision-making and donor-recipient matching. As healthcare systems modernize, the demand for intelligent, connected, and energy-efficient storage solutions is expected to drive significant market growth.
Stringent regulatory requirements
Stringent regulatory requirements represent a key threat to the market. Compliance with international standards for blood safety, storage, and traceability demands rigorous testing, documentation, and certification. These regulations can delay product approvals and increase development costs for manufacturers. Additionally, frequent updates to safety protocols and quality control measures require continuous adaptation. For healthcare providers, meeting these standards involves training, audits, and infrastructure upgrades, which can strain resources and hinder the adoption of new technologies.
The COVID-19 pandemic had a mixed impact on the Blood Banking & Storage Equipment Market. While elective procedures declined, the need for convalescent plasma and emergency blood supplies surged. The crisis highlighted the importance of robust blood storage infrastructure and accelerated the adoption of automated and contactless technologies. Supply chain disruptions and donor shortages posed challenges, but also spurred innovation in mobile collection units and remote monitoring systems. Post-pandemic, the market is expected to benefit from renewed investments in healthcare resilience and preparedness.
The diagnostic centers segment is expected to be the largest during the forecast period
The diagnostic centers segment is expected to account for the largest market share during the forecast period, due to increasing number of diagnostic laboratories and their critical role in blood testing, cross-matching, and disease screening. These centers require reliable storage solutions to maintain the integrity of blood samples and components. With rising demand for accurate diagnostics and preventive healthcare, diagnostic centers are investing in advanced equipment to ensure compliance, improve turnaround times, and support growing volumes of blood-related testing services.
The blood plasma freezers segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the blood plasma freezers segment is predicted to witness the highest growth rate, due to increasing use of plasma in therapeutic applications, including treatment for immune deficiencies, bleeding disorders, and COVID-19-related therapies. Plasma requires ultra-low temperature storage to preserve its efficacy, driving demand for specialized freezers. Technological improvements in energy efficiency, temperature control, and alarm systems are further enhancing product appeal. As plasma-based treatments expand globally, the need for reliable and scalable storage solutions continues to rise.
During the forecast period, the Asia Pacific region is expected to hold the largest market share, as rapid population growth, increasing healthcare investments, and rising awareness of blood donation are key drivers in the region. Countries like China, India, and Japan are expanding their healthcare infrastructure and adopting advanced medical technologies. Government initiatives to improve blood safety and availability, along with the growing burden of chronic diseases, are further boosting demand for modern blood storage and processing equipment across the region.
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, owing to region's advanced healthcare infrastructure, strong regulatory framework, and high adoption of cutting-edge technologies. Increasing demand for blood components, rising prevalence of chronic illnesses, and a well-established network of blood banks and diagnostic centers contribute to this trend. Additionally, ongoing research in transfusion medicine and the integration of digital health solutions position North America as a leader in blood storage innovation and expansion.
Key players in the market
Some of the key players in Blood Banking & Storage Equipment Market include Thermo Fisher Scientific, Angelantoni Life Science, Haier Biomedical, Labcold Ltd, Terumo Corporation, Panasonic Healthcare, Fresenius Kabi, Sarstedt AG & Co. KG, Bio-Rad Laboratories, Boekel Scientific, Becton, Dickinson and Company (BD), Lmb Technologie GmbH, Azenta Life Sciences, Macopharma, and Helmer Scientific.
In July 2025, Thermo Fisher will acquire Sanofi's sterile manufacturing facility in Ridgefield, New Jersey and continue producing Sanofi's therapies there. They also plan to expand the site's capacity to serve broader pharmaceutical and biotech demand. More than 200 existing staff will join Thermo Fisher as the transaction closes in the second half of 2025.
In January 2025, Pioneer Group and Thermo Fisher Scientific unite to bolster UK and Irish biotech startups. This collaboration offers entrepreneurs access to training, technical support, bespoke equipment, and consumables. Graduates of Pioneer's equity-free Accelerator Programme gain exclusive access to Thermo Fisher's reward system, aiding in laboratory setup.