Blood Bank And Plasma Freezer Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (2° to 6° and -20° to -40°), By Application (Hospitals, Blood Bank, Others), By Region and Competition, 2020-2030F

Market Overview

Global Blood Bank and Plasma Freezer Market was valued at USD 92.18 Million in 2024 and is expected to reach USD 129.30 Million by 2030 with a CAGR of 5.76% during the forecast period. The Global Blood Bank and Plasma Freezer Market is driven by increasing demand for blood and plasma storage due to rising incidences of chronic diseases, trauma, and surgical procedures that require blood transfusions. The growing prevalence of conditions like cancer, anemia, and hemophilia, along with aging populations, is fueling the need for efficient and safe storage solutions. According to the Red Cross, nearly 16 million blood components are transfused annually in the United States. Additionally, around 90,000 to 100,000 individuals with sickle cell disease rely on blood transfusions throughout their lives.

Advancements in freezing technologies, which enhance the preservation and quality of blood and plasma, are a key factor. Regulatory standards and guidelines for blood and plasma storage, alongside improvements in healthcare infrastructure, also contribute to market growth. The rise in blood donation campaigns and awareness about the importance of preserving blood components is further stimulating market demand globally.

Key Market Drivers

Rising Incidence of Chronic Diseases and Trauma

The global increase in chronic diseases such as cardiovascular conditions, cancer, diabetes, and blood disorders directly influences the demand for blood and plasma storage systems. These diseases often necessitate frequent blood transfusions for patients suffering from anemia, low platelet count, or during chemotherapy for cancer treatment. For example, cancer patients undergoing chemotherapy may require blood products to counteract the effects of chemotherapy-induced anemia, whereas those with hemophilia or other blood disorders often rely on plasma therapy to manage clotting. In May 2023, NYBC Ventures, an early-stage life sciences investment fund, secured USD 50 million in funding from New York Blood Center, Inc. The goal is to accelerate innovation in blood-related fields and cellular therapies while advancing novel technologies.

Trauma-related injuries from accidents, natural disasters, and violence also amplify the demand for blood and plasma products, especially in emergency healthcare settings where rapid access to blood is critical. Blood banks play a vital role in ensuring that life-saving blood products are readily available for such patients, and the effective storage of blood and plasma at the correct temperature is essential for maintaining their viability. Advances in blood and plasma freezer technologies ensure that blood components can be stored for long periods without degradation. This is essential in both routine and emergency medical situations, which contribute significantly to market growth. As chronic diseases rise globally and as trauma-related healthcare needs increase, there is a growing requirement for specialized, reliable, and high-capacity plasma freezers.

Technological Advancements in Plasma Freezing Systems

Technological advancements are one of the most significant drivers of the blood bank and plasma freezer market. Modern plasma freezers have evolved from simple refrigeration units to sophisticated systems designed to store blood and plasma at ultra-low temperatures, often as low as -80°C or even lower. These ultra-low temperature (ULT) freezers, combined with cryogenic freezing techniques, ensure the preservation of blood components such as red blood cells, plasma, and platelets. These freezers are critical for maintaining the stability and efficacy of these components, particularly as advancements in freezing technology continue to push the boundaries of storage capabilities. In August 2024, Brookfield Asset Management acquired the Spanish blood plasma company Grifols SA. The acquisition was backed by investors, including the Abu Dhabi sovereign wealth fund ADQ and Singapore's GIC Pte. The estimated equity value of the deal is approximately USD 8.9 billion.

Newer technologies now allow plasma freezers to provide greater energy efficiency, faster freezing times, and better insulation to maintain a constant, reliable temperature. Some plasma freezers are equipped with advanced monitoring systems, enabling automatic alerts in case of temperature fluctuations, thereby reducing the risk of spoilage or loss of vital blood products. Some systems now integrate IoT (Internet of Things) technologies, allowing for remote monitoring and data collection. This ensures that blood banks, hospitals, and plasma centers can track the storage conditions and act promptly in case of system failures, thus reducing human error. These advancements in freezing technology ensure enhanced security, reliability, and the safe storage of life-saving blood components, further driving the market's growth.

Increasing Healthcare Infrastructure and Blood Donation Drives

The expansion of healthcare infrastructure globally is a vital driver of growth for the blood bank and plasma freezer market. As governments and healthcare organizations focus on expanding access to healthcare services, the establishment of blood banks and plasma centers has increased. In many emerging economies, the establishment of new hospitals, healthcare facilities, and dedicated blood donation centers has been prioritized to ensure greater access to life-saving treatments. With these investments, healthcare providers are increasingly equipped with state-of-the-art blood storage technologies to handle an expanding supply of blood donations.

In parallel, increased efforts around the world to encourage blood donations have contributed significantly to the market's growth. Blood donation campaigns, especially in developed countries, continue to be an essential part of ensuring a steady supply of blood. The awareness and campaigns about the importance of regular blood donation have positively impacted the volume of blood collected, necessitating more storage solutions. These drives, coupled with increasing support from the government and NGOs, ensure that blood and plasma are available when required, whether for routine transfusions or emergency situations. The increased awareness around plasma and blood donation, paired with expanding healthcare infrastructure, is propelling the growth of blood banks and their associated plasma freezer needs, creating a sustainable demand for advanced blood storage solutions.

Aging Population and Demand for Blood Products

The aging population worldwide is significantly driving the demand for blood and plasma products, which in turn influences the demand for plasma freezers. As people age, they become more susceptible to chronic conditions such as cardiovascular diseases, diabetes, cancer, and neurological disorders, all of which can require blood transfusions. The elderly also experience higher rates of accidents and surgeries, which necessitate the use of blood products.

This demographic trend is particularly evident in developed countries, where the aging population is substantial and growing. With an older population requiring more frequent medical interventions, including blood transfusions, plasma therapies, and other treatments involving blood components, there is a greater need for reliable, long-term blood and plasma storage solutions. Blood banks and plasma freezers are essential in meeting the demand for these critical supplies, as older patients may require ongoing care and regular transfusions. The growing number of elderly patients is thus driving the expansion of the blood bank and plasma freezer market globally.

Rising Awareness of Plasma and Blood Donation

Public awareness campaigns and increasing education about the importance of plasma and blood donations are helping boost the blood bank and plasma freezer market. Many organizations around the world, including the Red Cross, continue to run large-scale awareness campaigns to promote the importance of donating blood. These efforts help increase public participation in donation drives, which directly impacts the volume of blood collected and the demand for blood storage solutions. According to WHO, the median blood donation rate in high-income countries is 31.5 donations per 1,000 people, while upper-middle-income countries report 16.4 donations per 1,000 people, lower-middle-income countries have 6.6 donations per 1,000 people, and low-income countries report 5.0 donations per 1,000 people. A total of 60 countries collect fewer than 10 donations per 1,000 people. Of these, 34 are located in the WHO African Region, with others in the WHO Region of the Americas (4), WHO Eastern Mediterranean Region (4), WHO European Region (4), WHO South-Eastern Asia Region (5), and WHO Western Pacific Region (9). All of these countries are classified as low- or middle-income.

In addition to general public awareness, many countries are also focusing on creating a culture of regular blood donation. Blood banks must expand to handle the influx of donated blood, and specialized plasma freezers are needed to store the blood until it is used for transfusions. The rise in awareness and participation in blood donation drives ensures a continuous supply of blood, stimulating the need for upgraded storage infrastructure in hospitals and blood centers globally.

Download Free Sample Report

Key Market Challenges

High Cost of Advanced Freezing Equipment

One of the major challenges faced by the global blood bank and plasma freezer market is the high cost of advanced blood storage and plasma freezing systems. While technological advancements have greatly improved the performance and efficiency of plasma freezers, these state-of-the-art systems often come with a high initial investment. The cost of purchasing ultra-low temperature (ULT) freezers and cryogenic systems can be prohibitive for blood banks, especially those in developing countries or in regions with limited healthcare budgets.

Beyond the initial purchase cost, there are also maintenance and operational costs associated with these advanced freezers. For instance, these systems require specialized installation, regular maintenance, and calibration to ensure their effectiveness, all of which add to the overall cost. As a result, smaller healthcare facilities and blood banks may struggle to afford the high-quality equipment required to meet modern storage standards. The cost of energy consumption for running high-capacity freezers and cryogenic storage systems can be substantial, further exacerbating financial pressures. This high cost of equipment is a significant barrier, particularly in developing nations, where budget constraints can limit the adoption of these technologies.

To mitigate this challenge, some organizations are looking to invest in more affordable, energy-efficient models or exploring government subsidies, grants, and partnerships with private sectors to support the procurement and maintenance of advanced storage systems. However, the challenge remains prominent in regions where the financial strain is a limiting factor for proper healthcare infrastructure development.

Shortage of Trained Personnel

The successful operation of blood banks and plasma centers, as well as the maintenance of advanced plasma freezing systems, requires skilled personnel with specialized knowledge. The shortage of trained technicians and staff who can properly manage plasma freezers and ensure that blood and plasma are stored at optimal conditions is a growing concern in the market.

Blood banks and plasma centers rely heavily on skilled personnel to monitor storage conditions, ensure compliance with safety and regulatory standards, and maintain equipment. However, there is a global shortage of trained professionals capable of handling complex blood storage systems, especially in developing and rural areas. The lack of adequately trained staff increases the risk of mishandling or mismanagement of blood products, leading to potential losses or compromised safety of stored plasma.

The challenge is exacerbated by the rapid advancement of freezer technologies, which require even more specialized knowledge to operate effectively. To address this issue, blood banks and healthcare facilities must invest in ongoing training programs, certifications, and education to ensure staff are equipped with the necessary skills to handle the latest blood storage technologies. This, however, adds to the operational costs and can create further pressure on the sustainability of blood storage operations.

Key Market Trends

Demand for Advanced Blood and Plasma Freezing Systems

There is an increasing preference for advanced and technologically sophisticated blood and plasma freezers. Newer systems with energy-efficient features, superior insulation, and more advanced storage capabilities are increasingly sought after. These modern systems can hold more blood units, operate with better energy efficiency, and ensure longer preservation times for plasma, platelets, and red blood cells.

In addition, advancements such as remote monitoring systems, alarm functions, and real-time data logging are in high demand. These features ensure that blood banks can detect temperature fluctuations, freezing failures, or malfunctions, which could compromise blood products. As hospitals and blood banks seek to enhance the safety and storage capabilities of their equipment, the demand for high-end, advanced plasma freezers continues to increase.

Government and Private Sector Investments in Blood Bank Infrastructure

Government policies and private sector investments in healthcare infrastructure are increasingly contributing to the market’s growth. With blood transfusions being vital for treating trauma, surgeries, and chronic illnesses, governments and private healthcare entities are investing heavily in building and upgrading blood banks, plasma centers, and blood donation systems.

In many emerging markets, government-led healthcare initiatives focus on increasing access to medical care and improving blood storage solutions in underserved regions. The private sector, including pharmaceutical and healthcare companies, is also capitalizing on the opportunity to expand their reach by investing in high-quality storage equipment for plasma, thereby ensuring a reliable supply of blood products. These investments are helping develop new blood storage technologies and ensuring that facilities are well-equipped to handle the increasing need for blood products worldwide. This growing investment in infrastructure ensures a continued rise in demand for advanced blood bank freezers.

Segmental Insights

Application Insights

Based on the Application segment, hospitals was the dominant sector, primarily due to the essential role they play in the management, storage, and distribution of blood products. Hospitals require advanced freezing and storage systems for the safe and efficient preservation of a variety of blood components, including plasma, platelets, red blood cells, and whole blood. These components are critical for emergency care, surgeries, trauma treatment, and chronic disease management, such as cancer and blood disorders. Hospitals must be equipped with state-of-the-art blood bank and plasma freezers to ensure that these vital resources remain at the correct temperatures to preserve their integrity, effectiveness, and safety.

The demand for blood storage solutions within hospitals is directly tied to the high-volume nature of blood transfusions and other procedures that require blood products. Hospitals regularly receive and store blood donations to meet the needs of patients, especially in critical care settings where timely access to blood is often a matter of life or death. For this reason, hospitals need a reliable and large-scale blood storage infrastructure to meet fluctuating demands and to store a sufficient quantity of blood for various medical situations. The requirement for multiple blood components with different storage conditions further drives the need for sophisticated freezer systems that can manage both short-term and long-term storage at varying temperature ranges, such as 2° to 6° Celsius for whole blood and -20° to -40° Celsius for plasma.

Download Free Sample Report

Regional Insights

The North America region dominated the Blood Bank and Plasma Freezer Market, driven by a combination of advanced healthcare infrastructure, high demand for blood products, and substantial investments in medical technologies. North America, particularly the United States and Canada, has well-established healthcare systems that prioritize the availability and safe storage of blood products for both routine and emergency medical procedures. Hospitals, blood banks, and plasma centers in these countries require advanced freezing and storage systems to meet regulatory standards and ensure the safety and efficacy of blood products, including plasma, platelets, and red blood cells.

The demand for blood storage systems in North America is further amplified by the increasing prevalence of chronic diseases, aging populations, and the growing use of plasma-derived therapies. For example, plasma is in high demand for the treatment of disorders such as hemophilia, immunodeficiencies, and other blood-related conditions. North American hospitals and plasma centers must ensure the long-term storage of these valuable blood components, particularly under ultra-low temperature conditions. This has led to significant investments in state-of-the-art plasma freezers that can provide reliable, long-term storage solutions. The region’s well-established regulatory frameworks, such as those set by the U.S. Food and Drug Administration (FDA) and other governing bodies, drive the need for the highest quality storage systems that meet strict safety standards.

Another key factor contributing to North America’s dominance in the market is the region's strong biotechnology and pharmaceutical industries, which rely heavily on blood products and plasma for drug development and therapeutic treatments. Companies in the biotech and pharma sectors often require high-quality blood storage systems for research and development purposes, further fueling the demand for advanced blood bank and plasma freezer solutions. This synergy between the healthcare sector and biotechnology companies is a significant driver of market growth.

Recent Developments

• In May 2024, Helmer Scientific partnered with Energy Solutions to combat climate change and promote decarbonization by offering significant rebates. These rebates provide healthcare facilities with access to more sustainable equipment options that help reduce environmental impact. Depending on location, provider, and selected product, the rebate can be as high as USD 2,000 per unit.
• In the same month, the Department of Health, Abu Dhabi (DoH), and M42 company teamed up to launch the Abu Dhabi Biobank, the region's largest hybrid cord blood bank. This initiative aims to reduce treatment waiting times, improve therapeutic access for patients, enhance survival rates, and lessen the economic burden on the government.
• In October 2024, the American Red Cross shared the story of a patient who received stem cell gene therapy to treat her sickle cell disease. Throughout the clinical trial and stem cell infusion process, she received blood and platelet transfusions, thanks to the support of generous blood donors and blood bank organizations.
• In September 2024, Safi Biotherapeutics, an early-stage biotech company focused on developing blood cell products, secured over USD 14 million in funding from the U.S. Department of Defense and an additional USD 5 million from J2 Ventures for their new project aimed at manufacturing cost-effective red blood cells.

Key Market Players

• Biobase Biodusty(Shandong), Co., Ltd.
• Fiocchetti Scientific S.R.L.
• Infitek Co., Ltd.
• Zhongke Meiling Cryogenics Co.,Ltd
• Newtronic Lifecare Equipment Pvt Ltd
• NuAire, Inc
• Thermo Fisher Scientific Inc.
• Synnovis Group LLP
• F. Hoffmann-La Roche Ltd.
• Beckman Coulter, Inc.

Report Scope:

In this report, the Global Blood Bank And Plasma Freezer Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Blood Bank And Plasma Freezer Market, By Type:

o   2° to 6°

o   -20° to -40°

• Blood Bank And Plasma Freezer Market, By Application:

o   Hospitals

o   Blood Bank

o   Others

• Blood Bank And Plasma Freezer Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Blood Bank And Plasma Freezer Market.

Available Customizations:

Global Blood Bank And Plasma Freezer market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).