Patient Blood Management Market Research Report - Forecast till 2027

Patient Blood Management Market Research Report: By Product (Instruments, Accessories, Reagents and Kits, Software), By Component (Whole Blood, Plasma) and By End-User (Blood Banks, Hospitals, Diagnostic Clinics and & Pathology Labs)-Forecast to 2027

ID: MRFR/HC/7326-HCR | December 2022 | Region: Global | 112 Pages         

Patient Blood Management Market

Patient Blood Management Market is anticipated to hold a value of USD 15,848 Million by 2027 and is expected to register a CAGR of 7.56% during the assessment period of 2020 to 2027.

Segmentation

By Product Instruments Accessories Reagents and Kits Software
By Component Whole Blood Plasma
By End-User Blood Banks Hospitals Diagnostic Clinics Pathology Labs

Key Players

  • Biomérieux SA
  • Bio-Rad LaboratoriesInc.
  • Braun Melsungen AG
  • Abbott Laboratories
  • Danaher Corporation
  • Hitachi Ltd.
  • Terumo Corporation

Drivers

  • The Rising Prevalence of Target Diseases Drives the growth of the market
  • Increased Blood Donators will support the growth of the market during the forecast period
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Patient Blood Management Market Overview


The patient blood management market is showing signs of massive improvement in comparison to the last period’s growth. During the historic forecast period that ended in 2019, the market was reported to reach a final market value worth USD 10.7 billion. Based on the patient blood management market dynamics of the current forecast period that is from 2020 to 2027, the market is expected to grow at a CAGR of 7.56% and hence, reach a final market valuation worth USD 15,848 Million by the end of the period in 2027.


COVID 19 Analysis of Patient Blood Management Market


The spread of the coronavirus disease has been a major issue for the common man, businesses enterprises, corporate entities, and other workforce groups and associations. The spread of the infection was so high that the government had no other alternative rather than opting for strict measures like the imposition of lockdown and others like functional restrictions that will impact the functioning of the market players and hence, might impact the demand and supply chain mechanism for the forecast period ending in 2028, as well. Since the cases of the pandemic were imposed the major focus of the doctors, surgeons, and other healthcare service providers were to develop medicine and vaccine that will help in putting the patients in a better place. The patient blood management market has also been affected as there was a lack of skilled professionals for crisp management during the forecast period that ends in 2028.


The market players are investing in the research and development departments that are supported by the global governments in the form of regulations and support schemes that will help the patient blood management market grow and develop regionally during the forecast period that ends in 2028. The funding has resulted in a mass availability of innovative products that will be launched at an international scale especially during the ongoing forecast period.


Patient Blood Management Market Dynamics


Drivers


There has been a rising number of blood donors worldwide owing to the rising awareness regarding the importance of blood requirement of various blood groups in times of emergency. The global market operations are likely to undergo a noteworthy rate of growth for the forecast period that ends in 2028. Blood donation has been a major focus in the past decade and the rise of prevalence amongst the youth they are turning up in huge numbers. Also, the frequency of severe road accidents has increased which will help the patient blood management market to grow during the forecast period as per the predictions laid by the market experts and leaders. 


 Restraints


However, one of the restraints that the market is likely to face during the period that might end up in presenting the market strategies with challenges and hurdles is that the availability of the right blood group on the requirement and the corruption in blood banks. Stocking is done which leads to black marketing at the time of emergency that is likely to restrain the market from growing.


 Technology Analysis


There are a lot of target diseases that have a connection with the prior requirement of blood. This is one factor that is giving rise to great opportunities. Also, the advancements in the medical field with the rapid implementation of technology that will help the patient blood management market show great results for the period ending in 2028.


 Study Objectives



  • To have a deep understanding of the market functioning post surviving the ill effects of the pandemic followed by the functioning of the market operations based on reliable inputs like growth drivers and expansion opportunities followed by the possible restraints that might pose challenges for the patient blood management market during the forecast period that ends in 2028.

  • To study the rising scope of the patient blood management market for the forecast period that will be ending in 2028 based on the global patient blood management market segmentation that will play a better role in enhancing the market capabilities to cater to the rising needs of the expanding target audience for the period. Also, this will help in understanding the distribution of resources and market equipment for the forecast period.

  • To help the market investors and potential buyers have an idea about the rising competitive degree amongst the market players and further, consider the recent developments undertaken by them during the ongoing forecast period that will be ending in 2028. Also, to understand the implementation of schemes and resources in the local and regional market that will help them develop and grow in international competition.


Patient Blood Management Market Segment Overview


There have been major market trends that have been significant enough to help the market reach the expected and forecasted growth during the ongoing forecast period that ends in 2028. Having an idea about the market segments help in understanding the ability of the market to cater to the vibrant needs of the target audience for the period and the ones that are likely to be continued later, post the end of the currently ongoing period. The global patient blood management market has been segmented based on the following given factors:


Based on the market products:


The patient blood management market deals in products like instruments, blood processing devices, blood storage devices like freezers and refrigerators, blood transfusion devices like cell salvage systems and apheresis machines, blood culture screening devices, testing and diagnosis instruments, accessories, reagents, kits, blood typing reagents, culture media, vials, tubes, etc.


Based on the components:


The patient blood management market is inclusive of whole blood and the important blood components like red blood cells, and white blood cells as these are equally important.


Based on the market end-users:


The end-users of the global patient blood management market products and services are blood banks, hospitals, healthcare centers, rotary units, amongst others.


Patient Blood Management Market Regional Analysis


Based on the segmentation of the market based on the global geographical regions, the patient blood management market is functional in 5 main regions. Out of these, the APAC region is expected to undergo a massive demand and hence, grow at the highest CAGR rate during the forecast period that will be ending in 2028. Countries like India and China, as a part of this region, are showing signs of the development of excellent growth opportunities as there has been a significant rise in the patient pool which is backed by the rising support from the government bodies and public sector.


 Competitive Landscape


To understand the factors that will result in a substantial rate of growth during the forecast period that ends in 2028 is the rising investment and efforts by the prominent players of the market. They are as follows:



  • Haemonetics Corporation

  • Danaher Corporation

  • Kaneka Corporation

  • Fresenius Se & Co. KGaA

  • Livanova PLC

  • Terumo Corporation

  • Hoffmann-La Roche LTD.

  • Asahi Kasei Medical Co. Ltd. (A Subsidiary of Asahi Kasei Corporation)

  • Immucor, Inc.

  • Bio-Rad Laboratories, Inc.

  • Biomérieux SA

  • Macopharma

  • Abbott Laboratories

  • Grifols, S.A.

  • Braun Melsungen AG


Recent Developments



  • In 2018, one of the prominent market players - Abbott, which has its headquarters in the US, got a CE mark for its Alinity h-series that will be used in the European Union.

  • In the following year, the same company received the US FDA approval for its Alinity’s blood culture screening system and the Afinion HbA1c Dx assay kit.

  • In 2018, an Ireland company - B. Braun Melsungen AG took over the acquisition of the bloodline business managed by NxStage Medical, Inc. from the US. This company operated under Medisystems.

  • In 2019, a Switzerland-based company - F. Hoffmann-La Roche Limited also got its US FDA approval for its Cobas Babesia Test. This test is known for its relation to the process of donor screening which is one of the prominent inclusions of the market functioning, globally. 


Report Overview


The global patient blood management market report helps in getting qualitative market insights into the market. The components mentioned are as follows:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Technical Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


The patient blood management market report that has been formed consists of various market factors that will help the global market take advantage of the drivers and opportunities during the forecast period that ends in 2028. Also, the market discusses the challenges that the market players are likely to witness. The report also discusses the working of the market post the COVID 19 pandemic hit followed by the market segmentation across various global locations during the period. The patient blood management market report also discusses the role of the market players in understanding the regional analysis and rising competition based on the recent developments of the market players during the forecast period of 2021-2028.



Report Scope:

Report Attribute/Metric Details
  Market Size   2027: USD 15,848 Million
  CAGR   7.56% (2019-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product, Component and End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Biomérieux SA, Bio-Rad Laboratories, Inc., Fresenius Se & Co. KGaA, B. Braun Melsungen AG, Abbott Laboratories, Danaher Corporation, Hitachi, Ltd., Terumo Corporation, Grifols, S.A, Immucor, Inc., and others.
  Key Market Opportunities   Rising Prevalence of Target Diseases and the increasing number of blood donations are likely to impact the growth of the Patient Blood Management Industry Positively
  Key Market Drivers

  • The Rising Prevalence of Target Diseases Drives the growth of the market.
  • Increased Blood Donators will support the growth of the market during the forecast period.
  • Increasing Demand for Donated Blood across the globe is expected to drive Market Growth


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    Frequently Asked Questions (FAQ) :

    Global patient blood management market is estimated hold a market value of USD 15,848 million by the end of 2025.

    Global patient blood management market is anticipated to thrive at a CAGR of 6.48% by the end of 2025.

    The APAC region is estimated to be the fastest growing regional market.

    The global patient blood management market can be segmented on the basis of component, product, end-user, and region.

    Hitachi, Ltd., Braun Melsungen AG, Bio-Rad Laboratories, Inc., Grifols, S.A are some of the eminent players of the global patient blood management market.