What is the global market size of Patient Blood Management Market?

Patient Blood Management Market size was valued at USD 12.2 billion in 2021 and is poised to grow from USD 12.97 billion in 2022 to USD 21.14 billion by 2030, growing at a CAGR of 6.3% during the forecast period (2023-2030).

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 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.

Patient Blood Management Market Report Snapshots

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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 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. 'Fresenius SE & Co. KGaA (Germany)', 'Haemonetics Corporation (US)', '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)'

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.

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.

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.

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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

Patient Blood Management Market Dynamics

Patient Blood Management Market Report Snapshots

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