Blood banking devices market to reach US$ 49.8B by 2026

Blood banking refers to the process of collecting, separating, and storing blood. It is a process that takes place in the lab to make sure that donated blood, or blood products, are safe before they are used in blood transfusions and other medical procedures. There are three kinds of blood banks – government, private and those run by NGOs. Blood banking devices are medical devices designed to collect and store the blood and blood components, such as platelets, white blood cells, red blood cells, and plasma. The main purpose is to ensure that the blood must be transferred safely.

Drivers:
Market players are adopting various strategies, such as M&A (merger and acquisition), to gain competitive edge in the market, which in turn is expected to augment the growth of the global blood banking devices market. For instance, in January 2017, Grifols acquired the Hologic unit engaged in research, development and manufacture of assays and instruments based on NAT (Nucleic Acid Testing) technology for transfusion and transplantation screening. Moreover, in January 2017, Werfen announced the acquisition of Accriva Diagnostics, a global leader in in vitro diagnostic (IVD) blood testing at the Point-of-Care (POC).

While, in 2016, Werfen’s subsidiary Instrumentation Laboratory acquired CA Casyso AG and its Tem subsidiaries, a company engaged in IVD testing for Patient Blood Management (PBM) with their ROTEM testing systems.

Furthermore, market players are focusing on developing novel products, such as blood banking mobile app, robotic blood collection system, and/or mobile van blood banking, to enable easy access to donors, which in turn is expected to aid in the growth of the global blood banking devices market. For instance, in July 2016, Poly Medicure forayed into renal, respiratory, and blood banking segments besides expanding its dealership network in Tamil Nadu, India.

In January 2017, Social Capital announced the launch of an Android app for blood donation. With support from the Coimbatore Corporation, Sri Ramakrishna Multi-speciality Hospital and CRI, it launched the app at the Sri Ramakrishna Nursing College auditorium.

In April 2018, Immucor announced that its next generation, fully automated Echo instrument, Echo LumenaTM, received FDA clearance to best match donor-patient blood. Echo Lumena, designed for the laboratory segment, offers faster and clearer blood compatibility result.

Competitive landscape:
Key players active in the global blood banking devices market are F. Hoffmann-La Roche AG (Roche Molecular Systems Inc.), Instrumentation Laboratory Company, Immucor, Inc. (IVD Holdings, Inc.), China Biologic Products Holdings, Inc., bioMérieux, Inc., Fresenius Kabi AG, Beckman Coulter Inc. (Danaher Corporation), Abbott Laboratories, Thermo Fisher Scientific Inc., and Becton, Dickinson and Company. Coherent Market Insights