Blood and Organ Banks
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 1,750 blood and organ banks in the US collect, store, and distribute blood and blood products, organs, and tissues. Blood banks and organ banks are non-profit organizations. Tissue banks and plasma banks can operate as for-profit entities. Blood and organ banks may have contracts with hospitals, healthcare providers, pharmaceutical companies, or other organizations.
Extremely Perishable Inventory
Blood, organs, and tissue are extremely perishable and require specialized removal processes and storage conditions.
Limited Sources of Supply
Supply of blood, organs, and tissue is dependent on the availability of donors, which is well beyond the control of the industry.
Industry size & Structure
The average blood or organ bank employs around 51 workers and generates $9 million in annual revenue.
- The blood and organ bank industry consists of 1,750 establishments that employ 89,300 workers and generate $16.3 billion annually.
- Non-profit organizations account for 52% of establishments and about 71% of revenue. For-profit organizations account for 48% of establishments and about 29% of revenue. Blood banks and organ banks are non-profit organizations. Tissue banks and plasma banks can operate as for-profit entities.
- The industry is concentrated; the top 50 companies account for over 84% of industry revenue.
- Large organizations include the American Red Cross, America's Blood Centers, and the Musculoskeletal Transplant Foundation. In the US, 58 non-profit organ procurement organizations (OPO) coordinate the organ donation process.
Industry Forecast
Blood and Organ Banks Industry Growth
Recent Developments
Sep 24, 2024 - Cyberattack On Blood Bank Raises Concerns
- Healthcare industry stakeholders are increasingly focused on cybersecurity after a ransomware attack against Florida-based blood bank OneBlood disrupted patient care, delayed elective procedures, and prompted the bank to tell more than 250 southeast hospitals to temporarily activate critical blood shortage protocols. The cyberattack knocked some of OneBlood’s systems offline, forcing staff to manually perform normally automated steps like blood labeling, according to a company press release. The disruptions significantly slowed down deliveries to hospitals. The incident is one of three recent major worldwide attacks on life-sustaining supply chains like blood banks, a joint threat bulletin by the American Hospital Association and the nonprofit Health Information Sharing and Analysis Center said.
- The world’s first partial heart transplant has resulted in functioning valves and arteries that grow along with the young patient a year later. The previous standard of care used non-living valves that do not grow along with the child, requiring frequent replacement via surgical procedures that carry a 50% mortality rate, according to the Futurity news site. The innovation has paved the way for a domino heart transplant, where one heart is able to save two lives. During a domino heart transplant, a patient who has healthy valves but is in need of stronger heart muscle receives a full heart transplant; their healthy valves are then donated to another patient in need, creating a domino effect.
- The US Congress has passed legislation that opens the national Organ Procurement and Transplant Network to other groups through a competitive contract process. The system has only ever been managed by the nonprofit United Network for Organ Sharing, which has drawn criticism for its handling of organs, long waitlists for transplants, and the number of deaths among people waiting. The contracts would be overseen by the Health Resources and Services Administration, under the US Department of Health and Human Services. The bill has been sent to President Biden, who may sign it into law.
- Blood and organ bank industry employment and average wages for nonsupervisory employees increased slightly during the first seven months of 2024, according to the US Bureau of Labor Statistics (BLS). Blood and organ banks increased prices slightly during the first seven months of 2024, according to the BLS. The National Organ Transplant Act makes the act of buying and selling organs and tissues illegal but operators can charge fees for collecting, shipping, processing, marketing, and implanting them.
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