Patient Blood Management Global Market Report 2024

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 observed in the historical period can be attributed to several factors, including a rising prevalence of chronic diseases, a growing number of surgical procedures being performed, governmental initiatives promoting healthcare, an increased demand for bloodless surgical techniques, the availability of blood substitutes, and a heightened demand for improved quality in healthcare services.

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%. Anticipated growth in the forecast period can be linked to several key factors, including an aging population, an increased demand for blood products, shifting demographics, a growing emphasis on personalized medicine, a heightened demand for safe and efficient blood transfusion practices, and a rise in healthcare expenditures. Major trends expected during this period encompass a focus on patient-centered care approaches, data-centric decision-making processes, optimizing hemoglobin levels, collaborative care models, and an expanded utilization of autologous blood methods.

The global patient blood management market has seen growth owing to increased accidents, trauma cases, and surgical procedures. The World Health Organization reports an annual death toll of 1.35 million due to road accidents, with low and middle-income countries accounting for 93% of these fatalities. Similarly, in 2021, the Centers for Disease Control and Prevention noted a cesarean birth rate of 32.1% of total births. This surge in incidents has led to heightened demand for blood and its derivatives, significantly driving market growth.

Anticipated market expansion in patient blood management is attributed to the escalating need for blood transfusions. Blood transfusions, crucial in patient blood management, involve the transfer of whole blood or its components to patients. They play pivotal roles in surgeries, treating hemoglobin disorders, anemia, and pre/postoperative care. In 2021, the UK government recorded an increase in blood donations to 1.7 million, indicative of the rising demand for transfusions propelling the market growth. HEMAsavR, a sterile medical device, is increasingly adopted for capturing and transferring blood in surgical settings to respond swiftly to unforeseen blood loss. This device allows clinicians to collect anticoagulated blood economically without specialized resources, reducing upfront collection costs and potentially avoiding allogenic transfusions. Its use correlates with improved patient outcomes including reduced mortality rates, lower infection incidents, and decreased risk of multi-organ failure.

Key players within the patient blood management market concentrate on innovative products, particularly medical devices facilitating blood transfusions, to bolster revenues. These devices are designed for the safe and efficient transfer of blood or its products between donors and recipients. For instance, in April 2021, EryPharm, a France-based pharmaceutical company specializing in blood management devices, introduced a device aimed at mass-producing cultured red blood cells. This innovation addresses the needs of patients requiring multiple transfusions or affected by conditions impacting red blood cells, potentially enhancing their quality of life.

Major companies operating in the patient blood management market include 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.

North America was the largest region in the patient blood management market in 2023. Western Europe was the second-largest region in the patient blood management market share. The regions covered in the patient blood management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the patient blood management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. The patient blood management market includes revenues earned by instruments, blood processing devices, and centrifuges. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Within patient blood management, products are categorized into instruments, accessories, reagents, kits, and software. These kits play a role in managing a patient's blood. Additionally, patient blood management is categorized by blood components such as plasma, whole blood, and red blood cells, utilized across various healthcare settings including hospitals, clinics, and other medical facilities.

The patient blood management market research report is one of a series of new reports provides patient blood management market statistics, including patient blood management industry global market size, regional shares, competitors with a patient blood management market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the patient blood management industry. This patient blood management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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