U.S. Blood Banking Industry

The United States is quickly approaching a healthcare crisis. A recent study by the National Blood Data Resource Center shows that demand for blood is rising much faster than donations. Unless the number of blood donations accelerates rapidly, healthcare institutions will lack the necessary resources to perform blood transfusions and emergency surgeries. To prevent this, the blood banking industry must develop national and local recruitment strategies to reach young individuals, ethnic minorities, and other groups that have historically poor donor turnout.

This Frost & Sullivan research examines the state of U.S. blood banking industry. It traces institutional development, tracks demand for blood products, and evaluates alternatives for blood transfusions. By identifying challenges and offering strategic recommendations, this study gives its users an essential tool for building future plans.

Food and Drug Administration (FDA) Regulations Limit Donor Pool, Multiply Costs

"In an effort to curtail the spread of mad cow disease, the FDA announced a ban on blood donations from anyone who has lived in the United Kingdom for a period of six consecutive months between 1980 and 1996," says the study's author. The American Red Cross is adopting an even stricter policy. Although the full impact of these regulations on blood donations is not yet known, they could restrict collections by two to 10 percent.

"With fewer eligible donors, blood banks will need to intensify their efforts to attract new donors," says the author. But since increased donor recruitment efforts require additional money, blood banks will likely raise the fees for blood supplied to hospitals. Ultimately, these costs will be passed along to patients. This research monitors key healthcare issues and assesses their impact on the industry, providing users with a comprehensive guide to the field.

The Race Is On for Blood Alternatives

"Artificial blood represents one potential solution to the blood shortage," says the author. Over the past forty years, a number of companies have been working on substitutes for human blood. The race for alternatives is fueled by the immense revenue potential for this field. At current pricing, the market for artificial products could be $18 billion per year.

Despite the promise of this field, simulating real blood has proven to be a difficult challenge. "Even after forty years of research, scientists have not been able to find a substitute that performs all the functions of natural blood." This study offers in-depth discussions of the development of blood alternatives, offering readers important insights into the future of the industry.