According to MRFR analysis, Patient Blood Management Market is expected to register a CAGR of 6.48% during the forecast period of 2019 to 2025 and was valued at USD 10,221 Million in 2018.
Patient Blood Management used to minimize blood loss during surgical operations and optimize patients’ blood. It is performed by medical practitioners for patients who have a high risk of blood loss during surgical intervention. It is majorly applicable in blood banks, hospitals, and diagnostic & pathology labs.
The growth of the global patient blood management market is determined by numerous factors such as a high number of blood donations, rising prevalence of target diseases, and increasing demand for donated blood. According to the World Health Organization (WHO), about 108 million blood donations were collected globally every year. However, the high cost associated with automated systems is projected to restrain the growth of the market during the forecast period.
The global patient blood management market is currently dominated by several market players. The key players are involved in product launch, expansion, acquisition, and strategic collaborations to strengthen their market positions. Recently, in April 2019, Ecomed Solutions (US) launched HEMAsavR, a blood management device.
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The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas are anticipated to hold the largest market share owing to the well-established healthcare sector, large numbers of hospitals & diagnostic labs, and the presence of the prominent players in this region. The patient blood management market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada.
The European patient blood management market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The patient blood management market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the rising demands of donated blood and the expansion of healthcare facilities, the market in Asia-Pacific is expected to be the fastest-growing. The patient blood management market in the Middle East & Africa has been divided into the Middle East and Africa.
The Global Patient Blood Management Market has been segmented based on Product, Component, and End User.
The global patient blood management market, based on the product, has been divided into instrument accessories, reagents & kits, and software. The instruments segment is likely to hold maximum market share in the global patient blood management market owing to the high price of the instruments.
The global patient blood management market based on component has been segregated into whole blood and plasma. The whole blood segment is anticipated to hold the largest share in the market due to the large preference for the blood transfusion.
The end-user segments of the market are blood banks, hospitals, and diagnostic clinics, and & pathology labs. The blood bank segment is expected to hold the largest share of the market, as these are the primary locations where patients receive blood-related products.
Some of the Key Players in the Global Patient Blood Management Market are 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.
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