Press release
Redefining Standards in Patient Blood Management
According to The Business Research Company's, The patient blood management market size has grown strongly in recent years. It will grow from $13.83 billion in 2023 to $14.86 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to rising prevalence of chronic diseases, increasing number of surgical procedures, government initiatives, increasing demand for bloodless surgery, rising availability of blood substitutes, rising demand for quality healthcare.
The patient blood management market size is expected to see strongly grown in the next few years. It will grow to $19.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to aging population, growing demand for blood, changing demographics, increasing focus on personalized medicine, growing demand for safe and effective blood transfusions, increasing healthcare spending. Major trends in the forecast period include patient-centered care, data-driven decision-making, hemoglobin optimization, collaborative care, expanded use of autologous blood.
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Market Drivers and Trends:
The rising number of accidents, trauma cases, and surgical procedures contributed to the growth of the global patient blood management market. According to WHO, 1.35 million people die every year due to road accidents, and low-income and middle-income countries account for 93% of the fatalities occurring in the world due to road accidents. According to the Centers for Disease Control and Prevention, in 2021, the cesarean birth rate was 32.1% of all births. Increased number of accidents, trauma cases, and surgical procedures resulted in increased demand for blood, and its products are driving the market.
HEMAsavR is a sterile medical device to capture and transfer blood, which is increasingly being used to collect and salvage blood in surgical procedures and respond quickly to unanticipated blood loss. Clinicians can economically collect sterile, anticoagulated blood without any need for specialized resources. By this, the upfront shed blood collection cost decreases, and allogenic transfusions can be avoided with improved outcomes such as decreased patient mortality, low incidence of infections, and reduced risk of multi-organ failure.
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Major Key Players of the Market:
Haemonetics Corporation; Fresenius SE & Co. KGaA; Terumo Corporation; Immucor Inc.; B. Braun Melsungen AG; Macopharma; bioMérieux SA; Asahi Kasei Corporation; KANEKA CORPORATION; Bio-Rad Laboratories Inc; Abbott Laboratories; Grifols; Roche; LIVANOVA PLC; Danaher; Mediware information systems; Kawasumi Laboratories; Haier Biomedical; Diatron MI Zrt.; BAG Diagnostics GmbH; Hitachi Ltd.; Ortho Clinical Diagnostics; Beckman Coulter Inc.; Siemens Healthineers; Thermo Fisher Scientific Inc.; Sysmex Corporation; Nihon Kohden Corporation; Radiometer Medical ApS; Instrumentation Laboratory; F. Hoffmann-La Roche Ltd; Grifols Diagnostic Solutions Inc.; HemoCue AB; Immucor GTI Diagnostics
Patient Blood Management Market 2024 Key Insights:
• The patient blood management market size will grow to $19.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Global Patient Blood Management Market Thrives On The Rising Demand From Accidents, Trauma, And Surgical Procedures
• Hemasavr Is Enhancing Blood Collection And Transfusion Efficiency In Surgical Procedures
• North America was the largest region in the patient blood management market in 2023
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