Rising Demand in the Blood Bank Information Systems Market: Key Drivers & Forecast 2031
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The factors that drive growth of the global blood bank information systems market include increase in healthcare expenditure; technological advancements, and different strategies adopted by the market players like product launch and product approval. However, data safety concerns and cyber-attacks may hinder the market growth. Contrarily, favorable reimbursement policies and support from the government for regulatory approval offers lucrative opportunities for the growth of the market.
Blood Bank Information System (BBIS) is a browser based system that is designed to store, process, retrieve and analyze information concerned with the administrative and inventory management within a blood bank. This system aims at maintaining all the information pertaining to blood donors, different blood groups available in each blood bank and help them manage in a better way. The system aims at providing transparency in this field, make the process of obtaining blood from a blood bank hassle free and corruption free and make the system of blood bank management effective. The donors who are interested in donating blood need to register in the database. The software are generally integrated with CRM (customer relationship management) as well as CMS (content management system) solution. These software are designed in such a way to make them easily manageable, time saving and relieving one from manual works. The donors update their status whether they are available or not.
Globally, blood donations and blood donors are increasing, owing to the rising prevalence of hematological diseases and an upsurge in accidents, thereby increasing the blood bank information systems market size. The demand for blood donations is increasing due to the rising prevalence of hematological diseases across the world. According to the Leukemia and Lymphoma Society (LLS), one person in the US is diagnosed with leukemia, lymphoma, and myeloma around every 3 minutes. In addition, the U.S. recorded around 186,400 cases of leukemia, lymphoma, and myeloma in 2021. Furthermore, out of an estimated 1,898,160 new cancer cases in the country, approximately 9.8% were blood cancer cases in 2021.
Blood Bank Information Systems Market Segmentation:
Based on type, the blood donor management module segment accounted for nearly half of the overall blood bank information systems market in 2021, and is projected to lead the trail by the end of 2031. The same segment is likely to achieve a CAGR of 8.1% during the forecast period. The report also analyzes segments such as blood bank transfusion service module and others.
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Based on application type, the web-based segment contributed to nearly three-fourths of the global blood bank information systems market in 2021, and is expected to maintain its dominance through 2031. Moreover, the same segment is likely to garner the fastest CAGR of 8.1% during the forecast period. The report also discusses the mobile-based segment.
Based on end user, the hospital segment captured the largest share of more than half of the global blood bank information systems market in 2021, and is likely to exhibit a noteworthy growth during the forecast period. However, the blood banks segment would grow at a CAGR of 8.2% during the forecast period.
Based on region, the market across Europe contributed to more than one-third of the total blood bank information systems market in 2021, and is expected to maintain its dominance during the forecast period. Asia-Pacific, on the other hand, would grow at the fastest CAGR of 8.4% from 2022 to 2031. The other two provinces discussed in the report include North America and LAMEA.
The key market players analyzed in the global blood bank information systems market report include Allscripts Healthcare Solutions, Inc., Cerner Corporation, CompuGroup Medical SE & Co. KGaA, Haemonetics Corporation, hemosoft it & training services inc., Integrated Medical Systems, IT Synergistics, Roper Technologies, Inc., Scc Soft Computer, and WellSky.
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