USD 12.2 billion
Patient Blood Management Market Size, Share, Growth Analysis, By Type(Instruments, Software and Consumables), By Application(Preoperative Anemia Management, Acute Blood Loss Management and Chronic Blood Loss Management), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35D2100 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
61
|Figures:
75
Patient Blood Management Market Insights
Patient Blood Management Market size was valued at USD 12.97 billion in 2022 and is poised to grow from USD 13.79 billion in 2023 to USD 22.48 billion by 2031, growing at a CAGR of 6.30% during the forecast period (2024-2031).
The global patient blood management market is experiencing significant growth, driven by various factors such as the rising prevalence of chronic diseases, increasing surgical procedures, and growing awareness about the benefits of patient blood management strategies. Patient blood management (PBM) involves a comprehensive approach to optimize the care of patients who might need blood transfusion, aiming to improve patient outcomes and reduce the need for blood transfusions whenever possible. One of the key drivers of the global market is the rising prevalence of chronic diseases, such as cardiovascular disorders, cancer, and blood disorders. These conditions often require surgical interventions, which may involve the need for blood transfusions. However, healthcare providers are increasingly adopting patient blood management strategies to minimize the use of blood transfusions, as they are associated with risks and complications. This trend is fueling the demand for patient blood management solutions and services. The emphasis on improving surgical outcomes, reducing complications, and shortening hospital stays is driving the adoption of patient blood management protocols, leading to market growth. Blood transfusions are associated with various risks, including infections, immune reactions, and transfusion-related complications. Patient blood management offers a holistic approach to patient care, focusing on alternatives to transfusions, such as optimizing the patient's own blood volume, reducing blood loss during surgery, and employing pharmacological and non-pharmacological methods to enhance the patient's tolerance to anemia. Increasing awareness about these strategies is driving the adoption of patient blood management practices globally.
US Patient Blood Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Consumables
Fastest Growth
Consumables
Growth Rate
6.3% CAGR
Global Patient Blood Management Market By Country ($ Bn)
Country Share for North America Region (%)
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Patient Blood Management Market Segmental Analysis
Global Patient Blood Management Market is segmented by type, application, and region. Based on type, the market can be segmented into Instruments, Software and Consumables. Based on application, the market is segmented into Preoperative Anemia Management, Acute Blood Loss Management and Chronic Blood Loss Management. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Patient Blood Management Market Analysis by Type
Consumables hold a dominant position in the patient blood management market due to their recurring use in blood transfusion and other related procedures. The demand for consumables remains consistent and continues to grow as healthcare facilities and blood banks require a steady supply of these items to support patient care.
On the other hand, the fastest-growing type in the global patient blood management market is software. Patient blood management software encompasses digital solutions designed to streamline and optimize blood management processes. These software solutions assist healthcare professionals in tasks such as blood inventory management, patient blood utilization tracking, and decision support for appropriate transfusion practices.
Patient Blood Management Market Analysis by Application
Preoperative Anemia Management dominated the patient blood management market. This approach focuses on identifying and treating anemia in patients before they undergo surgical procedures. Anemia is a common condition characterized by a low level of red blood cells or hemoglobin, resulting in reduced oxygen-carrying capacity. By addressing anemia prior to surgery, healthcare providers aim to optimize patients' hemoglobin levels, enhance their physiological reserve, and reduce the risk of complications during and after surgery. The dominant position of Preoperative Anemia Management reflects the recognition of the importance of managing anemia as part of comprehensive patient care.
On the other hand, the fastest-growing type within the patient blood management market is Acute Blood Loss Management. This application area focuses on managing situations where patients experience sudden and significant blood loss due to trauma, surgery, or other medical emergencies. Effective management of acute blood loss involves timely identification, assessment, and treatment to restore and stabilize the patient's blood volume and hemodynamic stability. This type is experiencing rapid growth due to the increasing awareness of the importance of prompt intervention in cases of acute blood loss, particularly in emergency settings. Healthcare providers and medical institutions are investing in advanced technologies and protocols to improve patient outcomes in such critical situations.
Global Patient Blood Management Market By Type
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Patient Blood Management Market Regional Insights
North America dominated the global patient blood management market. North America holds a significant share in the market due to the presence of advanced healthcare infrastructure, well-established healthcare systems, and a high level of awareness about patient blood management practices. Countries like the US and Canada have implemented stringent regulations and guidelines to promote safe and effective blood management, driving the market growth in the region. Additionally, technological advancements and a strong focus on research and development contribute to the dominance of North America in the patient blood management market.
On the other hand, the fastest-growing region in the global patient blood management market is Asia-Pacific. The Asia-Pacific region is witnessing rapid economic growth, increasing healthcare expenditure, and a growing patient population. Countries like China, India, and Japan are making significant investments in healthcare infrastructure and are focusing on improving healthcare outcomes. As awareness about patient blood management practices increases in the region and healthcare facilities adopt advanced blood management solutions, the Asia-Pacific market is experiencing substantial growth. Factors such as a rising number of surgeries, increasing prevalence of chronic diseases, and the need for safe and efficient blood transfusion contribute to the fast-paced growth of the patient blood management market in Asia-Pacific.
Global Patient Blood Management Market By Geography
- Largest
- Fastest
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Patient Blood Management Market Dynamics
Patient Blood Management Market Drivers
Advancements in transfusion medicine
- The field of transfusion medicine has experienced notable progress, marked by the emergence of novel techniques and technologies for blood management. These advancements have significantly improved the safety and effectiveness of blood transfusions, thereby encouraging the adoption of patient blood management practices.
Patient Blood Management Market Restraints
Challenges in changing transfusion practices
- The implementation of patient blood management practices often necessitates a departure from established transfusion methods and medical norms. Overcoming resistance to change, accommodating physician preferences, and providing adequate training and education present challenges to the widespread acceptance of patient blood management approaches.
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Patient Blood Management Market Competitive Landscape
The global patient blood management market is highly competitive and dynamic, characterized by the presence of several key players operating in the healthcare industry. Patient blood management refers to a multidisciplinary approach that aims to optimize patient outcomes by effectively managing and preserving the patient's own blood. This includes strategies such as minimizing blood loss, optimizing red blood cell production, and utilizing alternative therapies to transfusion.
Patient Blood Management Market Top Player’s Company Profiles
- Fresenius SE & Co. KGaA (Germany)
- Terumo Corporation (Japan)
- B. Braun Melsungen AG (Germany)
- Bio-Rad Laboratories, Inc. (US)
- LivaNova PLC (UK)
- Medtronic PLC (Ireland)
- Abbott Laboratories (US)
- Grifols, S.A. (Spain)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Danaher Corporation (US)
- Immucor, Inc. (US)
- BioMérieux SA (France)
- Ortho Clinical Diagnostics (US)
- Fresenius Kabi AG (Germany)
- Kedrion S.p.A. (Italy)
- Octapharma AG (Switzerland)
- Beckman Coulter, Inc. (US)
- Siemens Healthineers AG (Germany)
- Quidel Corporation (US)
Patient Blood Management Market Recent Developments
- In June 2023, Haemonetics Corporation launched a new blood management software platform called HemAssist. This platform is designed to help hospitals improve their blood management practices by providing them with a centralized view of their blood inventory and transfusion data.
- In May 2023, Terumo Corporation received FDA approval for its T-Cell Select blood processing device. This device is designed to remove T cells from blood products, which can help to reduce the risk of transfusion-related graft-versus-host disease (GVHD).
- In April 2023, Cerus Corporation announced that it has entered into a strategic partnership with Octapharma. This partnership will allow Cerus to market and distribute its Abraxane blood salvage device in Europe.
- In March 2023, Grifols International S.A. acquired Baxter International's blood plasma collection business. This acquisition will give Grifols a larger presence in the global blood plasma collection market.
- In February 2023, Biosafe Blood Management Services announced that it has opened a new blood bank in New Delhi, India. This blood bank is designed to help meet the growing demand for blood products in India.
Patient Blood Management Key Market Trends
- One significant market trend in the global patient blood management market is the increasing focus on personalized and evidence-based approaches to optimize blood transfusion practices. This trend emphasizes the importance of tailoring blood transfusion strategies to individual patients based on their specific needs and clinical conditions, rather than adopting a one-size-fits-all approach. Healthcare providers and organizations are recognizing the potential risks and complications associated with unnecessary blood transfusions, such as transfusion reactions, infections, and increased healthcare costs.
Patient Blood Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to theGlobal Patient Blood Management analysis, it is driven by various factors such as increasing awareness about the importance of blood conservation, rising surgical procedures, and advancements in transfusion technologies. Patient blood management (PBM) focuses on optimizing patient outcomes by effectively managing and conserving blood resources.The increasing prevalence of chronic diseases and the subsequent rise in surgical interventions contribute to the market growth. Additionally, the growing demand for cost-effective healthcare solutions, coupled with a shift towards personalized medicine, drives the adoption of patient blood management practices.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 12.97 billion |
| Market size value in 2031 | USD 22.48 billion |
| Growth Rate | 6.30% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Patient Blood Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Patient Blood Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Patient Blood Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Patient Blood Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Patient Blood Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Patient Blood Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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