Patient Blood Management Market Research Report: By Product (Instruments, Accessories, Reagents and Kits, Software), By Component (Whole Blood, Plasma) and By End-User (Blood Banks, Hospitals, Diagnostic Clinics and & Pathology Labs)-Forecast to 2027
Market Highlights
According to MRFR analysis, Global 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.
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Various factors are adding to the global patient blood management market growth. Such factors, according to the new MRFR report, include the growing demand for donated blood, increasing cases of target diseases, and the growing number of blood donations. Besides, growing awareness about blood transfusion safety and new product launches, and technological advances are also adding market growth.
On the contrary, the high price of automated systems may limit the patient blood management market growth over the forecast period.
Patient Blood Management Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global patient blood management market report based on end user, component, and product.
By product, the global patient blood management market is segmented into software, reagents and kits, and instrument accessories. Of these, the instruments segment will lead the market over the forecast period.
By component, the global patient blood management market is segmented into plasma and whole blood. Of these, the whole blood segment will dominate the market over the forecast period for the huge preference for blood transfusion.
By end user segment, the global patient blood management market is segmented into pathology labs, diagnostic clinics, hospitals, and blood banks. Of these, the blood bank segment will have a major share over the forecast period as these are primary locations patients get blood-related products.
Patient Blood Management Market Regional Analysis
Based on the region, the global patient blood management market report covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will spearhead the market over the forecast period. The growing prevalence of cancer, the increasing number of surgical procedures, the presence of a well-established healthcare sector, and the presence of several hospitals in the US are adding to the growth of the market in the region.
The global patient blood management market in Europe is predicted to have favorable growth over the forecast period. The presence of well-developed healthcare systems, rising cases of road traffic accidents, and a rising number of blood donations are adding to the growth of the market over the forecast period.
The global patient blood management market in the APAC region is predicted to grow at a fast pace over the forecast period. The rapidly growing healthcare sector and huge population are adding to the growth of the market in the region.
The global patient blood management market in the MEA is predicted to have the smallest share over the forecast period for the limited healthcare facility development.
Patient Blood Management Market Studied by Key Players
Leading players profiled in the patient blood management market report include Immucor, Inc., Grifols, S.A, Terumo Corporation, Hitachi, Ltd., Danaher Corporation, Abbott Laboratories, B. Braun Melsungen AG, Fresenius Se & Co. KGaA, Bio-Rad Laboratories, Inc., and Biomérieux SA. Industry players have encompassed several strategies to create a niche in the market and also cater to the burgeoning needs of customers. These comprise yet is not limited to geographic expansions, joint ventures and collaborations, partnerships, strategic alliances, contracts, mergers and acquisitions, new product launches and development, extensive research and development activities, and more.
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