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 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.