Blood Bank Information System Market by Type Analysis (Blood Bank Donation Management Module, Blood Bank Transfusion Service Module), By End User Analysis(Hospitals, Blood Banks), By Application analysis(web based, mobile based), By Region and Companies Analysis, Industry Segment, Market Assessment, Competitive Landscape and Forecast 2024-2033

Market Overview

The Global Blood Bank Information System Market size is expected to be worth around USD 1,333.5 Million by 2033 from USD 647.0 Million, growing at a CAGR of 7.9% during the forecast period from 2024 to 2033.

A blood bank is a department in a hospital or clinic which collects the blood and blood components by donation, hence making the way easy for transfusion. A Blood Bank Information System is a software solution used by hospitals and blood banks to efficiently manage and track blood inventory and donations. Blood bank information system plays a key role by maintaining a better contact between blood banks and hospital instead of manual systems being laborious and time consuming.

The most important factors that drive the blood bank information system are technological advancement, healthcare expenditure, and upgradation in the systems that boost the blood bank information system market growth. Another driver leading to growth in market size is rising number of blood donors, blood donations, haematologic diseases, etc.

The region holding largest market share is North America due to its safe blood transfusion demands and blood donations in the region. The market size of blood bank information system seems to be growing in future as there is a high demand for blood and blood products, along with efficient management and tracking systems. Hence, creating promising growth opportunities in the market in future.

Key Takeaways

• An important connection is made between hospitals and blood banks by blood bank information systems.
• There are several factors that are leading a positive impact for blood bank information system market. These are cancer and diabetes where patients require regular blood transfusions.
• The study covers four important segments i.e segmentation based on type, application, end user and region.
• Blood bank donation management module and blood bank transfusion service module are two catogeries in type segment.
• Hospitals and blood bank stations are two most important end users dealing with blood bank information system.
• The application of blood bank information system is web based and mobile based in which web based application dominates mobile based application.
• North America holds largest market size of blood bank information system and is expected to continue its position in the blood bank information system market in the coming years.
• Technological advancement and regular system upgradation boosts the market size of blood bank information system.
• Technology, regulation by health authorities, and demand for blood products are various factors that impact the regulation of blood banks.
• Haemonetics Cooperation proves to be one of the leading companies in Blood bank information system market.
• Cloud computing and adoption of Radio Frequency Identification scanning machines are some of the recent trends in blood bank information system.
• The Russia- Ukraine War and impact of Covid -19 is expected to have significant long-term effects on the Global blood bank information system

Type Analysis

Blood Bank Information System segment to witness significant growth

Blood bank donation management module and blood bank transfusion service module are the two main classifications under type segment. Amongst this, blood bank donation management module dominates the market share by 60% and also seems to be promising in continuing to grow in future. The reason behind this is the regular maintainance of daily transaction in the blood bank, expecting to lead the market size during the forecast period 2024-2033. This system is known to maintain several records making the search for blood very easy and quick.

End User Analysis

Hospital segment dominating the market

Blood bank information system is categorized into two types based on its use, hospital and blood bank. This information system is commonly used by both hospitals and blood banks to maintain effective communication about blood donations and blood transfusions. Among both the segments, hospitals make more use of blood bank information system dominating the market share by 68%.

The reason for this is that more number of patients need blood transfusion in an emergency, so hospitals need to maintain such software tools to ensure timely availability of blood and blood products in the facility. Therefore, hospitals play a vital role in making use of blood bank information system, acting as a driving factor for increase in its market size.

Application Analysis

Web based Blood Bank Information System to foster during forecast period

Blood bank information system is segmented into two categories depending upon its application. These are web based blood bank information system and mobile based blood bank application system. Due to improper management many patients do not get blood in an emergency. Nowadays, many blood donation request is seen on social media for the patients who reuire blood urgently, as blood banks suffer frequent shortage of blood due to lack of blood donations. To overcome these problems web based and mobile based information system came into existence.

A system designated to store, process, retrieve and analyse information with respect to administration and inventory management within a blood bank is a web based blood bank information system. Cloud based hosting platform is used by this system, enhancing system performance, hence becoming highly available. A mobile based blood bank information system is an application allowing the user to use through their smart phones.

This system helps the user in completing blood donation process with least time and efforts, receive remotely medical advices and also establish a blood donation community through social networks. The web based blood bank system is dominating the mobile based blood bank system market share by 72%, as it is more accurate, forms a connectivity between donors and receivers and provides urgent availibility of blood to the patients.

Key Market Segments

By Type

• Blood bank donation management module
• Blood bank transfusion service module

By End User

• Hospitals
• Blood banks

By Application

• Web based
• Mobile based

Drivers

Demand for blood, blood products and upgradation in blood bank information system

With the increase in global population, the number of chronic diseases such as cancer and diabetes are also increasing. These diseases require regular blood transfusions. Because of this the demand for blood and blood products has also increased leading to an increase in the number of blood donations. Hence, this is one of the major driver for increase in market size of blood bank information system, as this system needs to keep each and every information regarding blood donations and blood transfusions.

Moreover, advance technology, upgradation in blood bank information system, effective communication between hospitals and blood banks further boosts the market size of blood bank information system.

Restraints

Clearance from Food and Drug Administration

Blood bank software solutions require clearance from Food and Drug Administration(FDA), becoming a hectic process. That is the reason vendors may be less willing to develop these blood bank information system softwares. This becomes the biggest challenge to maintain records in blood banks and hospitals making the task more challenging.

As per a Journal, ‘Blood Bank Information System Based on Cloud In Indonesia, in Indonesia there is problem regarding the distribution of blood in hospitals as the distribution is not controlled. Due to this, blood runs out of stock because of inequality of blood needs, difficulty in finding blood donors and don’t have an integrated system.

Compliance with regulatory requirements

Blood banks are subject to strict regulatory requirements to ensure the safety and quality of blood products. Blood bank information systems must comply with these regulations, which can increase the complexity and cost of implementing and maintaining these systems. It is important for blood banks to stay up-to-date with these trends in order to effectively manage their operations and provide high-quality blood products to patients in need.

Opportunities

Need for Plasma for Covid 19 treatment

In the year 2019, the rise of coronavirus led to life threatening health issues leading to death of humans. Many people infected with this virus died as the infected people were left with no immunity in their body to fight back against the disease. Plasma is the component of blood which consists of active antibodies. So, plasma from healthy people who were not infected with this virus was taken and injected into these patients so as to improve their immunity and fight back against the disease.

The use of plasma in the treatment of COVID-19 played a vital role, leading to the usage of Blood bank information system to maintain its information in the hospitals. During the post-pandemic period, collection of plasma is continued to treat various diseases. For instance, in the treatment of  rabies infection, polyneuropathies, myasthenia gravis,etc. patients require plasma therapies, thus making use of blood bank information systems in an emergency.

This will continue to make use of these systems as incidence of new diseases are rising, requiring plasma therapies  for their treatment. Thus, this usage of blood bank information system  by hospitals promises to fuel its market size in the future.

Latest Trends

Integration of cloud computing

Development of technology makes things easier and faster. The recent advancement in blood bank information system is introduction of cloud computing which facilitates controlled distribution of blood by using an information system. This technology helps in monitoring health status of patients and update electronic medical records of patient’s information.

Adoption of Radio Frequency Scanning Machine

Radio frequency identification scanning machine is another ongoing advancement in this field. This technology is used to read blood donor labels, their contents and track when items are being removed and added. Hence transmitting their data wirelessly to control blood banks for review and analysis.

Usage of Barcode technology

Barcode is another latest technology used in blood bank information system. This technology is used to ensure that the patient is correctly identified during blood transfusion processes. It reduces danger of incompatible transfusions caused through human errors by presenting important information in a clear, logical and easily recognizable format.

Impact of Macro-Economic factors

The cumulative impact of COVID-19, the Russia-Ukraine conflict, and high inflation is expected to have significant long-term effects on the Blood Banking market globally. There are changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Russia’s invasion of Ukraine has left tens of thousands of dead, displaced millions and sown economic turmoil across the world in the 18 months since its launch on Feb. 24, 2022.

Hence, more blood loss by injuries led to high demand of blood supply and indirectly leading to more blood donations and more profit in blood bank information system market.

Regional Analysis

North America holds the largest market share in 2023

The largest market share of blood bank information system is held by North America, which is 42% and is expected to continue its position in the blood bank information system market in the coming years. The reason for North America to hold largest share is increasing demand for safe blood transfusion and rising numbers of hospitals and blood banks in the region.

About 45% of the whole blood available for use annually in the US is collected by American Red Cross (ARC). The blood collected by other community and hospitals is 42% and 11% respectively, and remaining 2% of the blood is imported. Apart from this Asia Pacific has the fastest blood bank information system market growth, followed by Europe.

By Region

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • India
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of Asia Pacific
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Russia
  • Netherlands
  • Rest of Europe
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of MEA

Market Player Analysis

Haemonetics Cooperation proves to be one of the leading companies in Blood bank information system market. It  is a global provider of blood and plasma supplies and services. Some of the other key players following include Mediware Information Systems, Cerner Corporation, McKesson, Allscripts Healthcare, SCC Soft Computer, Integrated Medical Systems, Sunquest Information Systems Inc, Abbott Innovations LLC, Psyche Systems Corporation and WellSky. These companies are undertaking strategic initiatives such as new product launches, partnerships & collaborations, and M&As to maintain a competitive edge in the market.

Market Key Players

• Haemonetics Cooperation
• Mediware Information Systems
• Cerner Corporation
• McKesson
• Allscripts Healthcare
• SCC Soft Computer
• Integrated Medical Systems
• Sunquest Information Systems Inc
• Abbott laboratories
• Psyche Systems Corporation
• WellSky

Recent Development

• In June 2023: A Chennai based health-tech startup company Blod.in launched Blod+, a transformative healthcare software and logistics platform, supporting the haematology department. This software helps to connect hospitals and blood banks for efficient distribution of blood. Many wellknown hospitals like IMAX, Cloudnine and Bewell have adopted Blod+ due to its systematic, structured and rapid functioning. It reduces average sourcing time for blood from 6 hours to an average of 2 hours 7 minutes, making efficient distribution of blood as and when required.
• In Aug 2022: A specialized transfusion management system software was launched by Haemonetics Cooperation. This system software is now a choice of husdreds of hospitals, including top U.S hospitals as recognized in U.S news and world report (Best Hospitals 2022-2033 Honor Roll). The software helps to better manage the patients and blood products and ensure that appropriate blood products are transfused into patients in need. Hence making complex operations flexible by ensuring patients safety and work flow efficiency.

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