Patient Blood Management Market By Product (Instruments, Accessories, Reagents and Kits, Software), By Component (Whole Blood and Red Blood Cells, Plasma), By End User (Blood Banks, Hospitals, Diagnostic Clinics and Pathology Labs): Global Opportunity Analysis and Industry Forecast, 2021-2031
Patient blood management is an evidence-based and multidisciplinary approach to caring for patients who might need a blood transfusion. It encompasses all aspects of the transfusion decision-making process, beginning with the initial patient evaluation and continuing through clinical management. These techniques are designed to ensure optimal patient outcomes while maintaining the blood supply to guarantee that blood components are available for patients when they are needed.
Patient Blood Management improves patient outcomes by improving the patient’s medical and surgical management in ways that boost and conserve the patient’s own blood. Owing to better management, patients usually require fewer transfusions of donated blood components, thus avoiding transfusion-associated complications. The National Blood Authority of Australia is funding and managing the development of evidence-based patient blood management guidelines.
Major factors driving the growth of the patient blood management market include a rise in technological advancement in patient blood management devices, an increase in the prevalence of blood disorders among the global population, and a surge in the number of blood donors. Furthermore, the rise in the prevalence rate of blood cancer and the increase in the prevalence of diseases such as malaria and cancer enhance the growth of this market. For instance, according to the data from Leukemia & Lymphoma Society, in 2021, new cases of leukemia, lymphoma, and myeloma accounted for 9.8% of the estimated 1,898,160 new cancer cases in the U.S. This led to an increase in the requirement of patient blood management.
However, unfavorable reimbursements as well as high costs of instruments and devices that are used in patient blood management are expected to hamper the market growth. On the contrary, unmet medical demands in developing countries and lucrative opportunities in emerging economies are expected to create immense opportunities for patient blood management device manufacturers worldwide in the future.
Furthermore, the healthcare business is projected to witness growth owing to a rise in chronic diseases and an increase in the number of surgical procedures performed, boosting the growth of the patient blood management market. Moreover, the increase in road accidents that cause blood loss, the rise in awareness regarding blood donation, and the increase in government expenditure on healthcare drive the growth of the patient blood management market. This is anticipated to offer remunerative opportunities for key players to invest in the market during the forecast period.
In addition, rise in R&D investments in the discovery & development of safe and effective patient blood management devices, a significant rise in capital income in developed countries, and a rise in key strategies such as product launch, collaboration, merger, & acquisition adopted by key players strengthen demand for patient blood management devices in the market.
For instance, in July 2019, Grifols, a global healthcare company, and producer of plasma-derived medicines announced the acquisition of its first donation center in Canada as part of the company’s commitment to increase the availability of lifesaving plasma medicines in the country. In a share purchase agreement, Grifols Canada Therapeutics Inc has acquired Prometic Plasma Resources Inc’s (PPR) donation center in Winnipeg from Kedrion for USD 4 million in cash. It is designed such that it can screen blood and plasma more efficiently within a smaller space than commercially available competitive systems. In a testing specialty that needs extensive hands-on time, the additional automation and flexibility of Alinity’s are expected to help blood and plasma centers improve productivity and maintain the highest levels of accuracy. Hence, such factors drive the growth of the patient blood management market.
The patient blood management market is segmented on the basis of product, component, end user, and region. On the basis of product, the market is classified into instruments (blood processing devices, blood transfusion devices, blood culture screening devices, diagnostic & testing instruments, and blood storage devices), accessories (syringes & needles, vials & tubes, blood bags, and others), reagents & kits (blood culture media, blood typing reagents, slide staining reagents, and assay kits), and software. On the basis of components, the market is classified into whole blood & red blood cells, and plasma. Depending on the end user, it is fragmented into hospitals, blood banks, and diagnostic clinics & pathology labs. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, Australia, India, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major players profiled in the report are Asahi Kasei Corporation, B. Braun SE, BioMérieux, Inc., Grifols, S.A., Haemonetics Corporation, Haier Biomedical, Immucor, Inc., LivaNova PLC, Macopharma, and Terumo Corporation.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the patient blood management market analysis from 2021 to 2031 to identify the prevailing patient blood management market opportunities.
Market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the patient blood management market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global patient blood management market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
Whole Blood and Red Blood Cells
Plasma
By End User
Blood Banks
Hospitals
Diagnostic Clinics and Pathology Labs
By Product
Instruments
Type
Blood Processing Devices
Blood Transfusion Devices
Blood Culture Screening Devices
Diagnostic and Testing Instruments
Blood Storage Devices
Accessories
Type
Syringes and Needles
Vials and Tubes
Blood Bags
Others
Reagents and Kits
Type
Blood Culture Media
Blood Typing Reagents
Slide Staining Reagents
Assay Kits
Software
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Grifols, S.A.
B. Braun SE
Immucor, Inc
Haemonetics Corporation
LivaNova PLC
Biomerieux SA
Haier Biomedical
Macopharma
Terumo Corporation
Asahi Kasei Corporation
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