A new business intelligence report released by Allied Market Research, the global Blood Bank Information Systems Market generated $557.2 million in 2021 and is estimated to hit $1.1 billion by 2031, registering a CAGR of 7.8% from 2022 to 2031. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.
Key Takeaways:
Market Growth: The BBIS market has experienced significant growth in recent years and is expected to continue growing at a steady pace. The increasing demand for efficient blood management systems, technological advancements in healthcare IT, and the need for improved patient safety are driving the market growth.
Integration of Automation and Artificial Intelligence: BBIS solutions are increasingly incorporating automation and artificial intelligence (AI) technologies to streamline processes and enhance efficiency. Automation helps in inventory management, blood screening, donor management, and patient identification, while AI enables predictive analytics and decision support systems.
Improved Blood Inventory Management: BBIS solutions provide real-time tracking and monitoring of blood inventory, ensuring an adequate supply of blood products at all times. This helps in reducing wastage, optimizing blood utilization, and improving cost-effectiveness.
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Market Drivers:
Increasing Demand for Efficient Blood Management: The demand for efficient blood management systems is rising due to the growing need for safe and timely blood transfusions in healthcare facilities. BBIS solutions automate and streamline blood bank operations, including inventory management, donor management, blood testing, and tracking, ensuring an adequate and readily available supply of blood products.
Technological Advancements in Healthcare IT: Rapid advancements in healthcare IT, such as automation, artificial intelligence, cloud computing, and interoperability, are driving the adoption of BBIS solutions. These technologies improve the efficiency, accuracy, and accessibility of blood bank operations, leading to enhanced patient safety and better overall healthcare outcomes.
Market Segmentation:
Type of Deployment:
- On-premises: BBIS solutions are installed and maintained on-site by the healthcare facility or blood bank.
- Cloud-based: BBIS solutions are hosted on remote servers and accessed through the internet. This deployment offers scalability, accessibility, and cost-effectiveness.
Component:
- Software: Includes the core BBIS application with features such as inventory management, donor management, blood testing, and reporting.
- Services: Includes implementation, training, support, and maintenance services provided by BBIS vendors or third-party service providers.
End User:
- Hospitals and Clinics: BBIS solutions are used in hospital blood banks, outpatient clinics, and healthcare facilities for managing blood inventories and transfusion processes.
- Blood Banks: Dedicated blood banks that collect, process, and distribute blood and blood products use BBIS solutions for efficient blood management.
- Others: This category may include research institutions, academic institutions, and organizations involved in blood donation campaigns and public health initiatives.
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Regional Growth Dynamics:
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.
Competitive Landscape:
- Cerner Corporation
- Haemonetics Corporation
- Abbott Laboratories
- Mediware Information Systems
- SCC Soft Computer
- McKesson Corporation
- Roper Technologies, Inc.
- Orchard Software Corporation
- Data Innovations LLC
- Compugroup Medical SE & Co. KGaA
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