According to a new analysis by Growth Plus Reports, the global patient blood management market is estimated to be worth US$ 21.64 billion by 2031, with a revenue CAGR of 5.90%. The study examines the important strategies, factors, opportunities, competitive landscape, industry patterns, market size, financial information and forecasts, and potential business opportunities.
Key Takeaways:
- The increasing number of road accidents will drive market growth.
- The growth in the prevalence of hemophilia B, anemia, lymphoma, HIV/AIDS, and chronic liver problems will support market revenue growth.
- Asia Pacific will dominate the global market with the largest revenue share.
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Patient Blood Management Market Scope
|
Report Attribute |
Details |
|
Market size value in 2022 |
US$ 12.91 billion |
|
Revenue forecast in 2031 |
US$ 21.64 billion |
|
Growth Rate |
CAGR of 5.9% from 2023 to 2031 |
|
Base year for estimation |
2022 |
|
Forecast Period |
2023-2031 |
|
Historical Year |
2021 |
|
Segments covered |
Product, Components, End-user, and Region. |
| Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Market Drivers
A rise in injuries and accidents resulting in blood loss is the primary factor driving the revenue growth of the patient blood management market. Furthermore, an increase in disease prevalence, an aging population, an increase in hemophilia B, anemia, lymphoma, and HIV/AIDS that require blood, and an increase in chronic liver problems that require plasma derivatives for treatment are expected to contribute to market revenue growth. Besides this, technological advancements, an increase in the rate of trauma and accidents, and an increase in government initiatives will boost market revenue growth.
Market Segmentation
Growth Plus Reports has analyzed the global patient blood management market from four perspectives: Product, Components, End-user, and Region.
Product Segmentation: Based on the product, the patient blood management market is segmented into instruments, reagents & kits, accessories, and software. The instruments segment dominates the market with the largest revenue share because of technological advancements, adaptability, effectiveness, dependability, and therapeutic benefits.
Components Segmentation: Based on the components, the patient blood management market is segmented into whole blood and, red blood cells, plasma. The whole blood segment dominates the market with the largest revenue share because of the rising number of road accidents.
End-User Segmentation: Based on the end-user, the patient blood management market is segmented into blood banks, hospitals, diagnostic clinics, and pathology labs. The blood bank segment dominates the market with the largest revenue share because of the rise in orthopedic disorders and the geriatric population.
Regional Growth Dynamics
Based on the region, the global patient blood management market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
Asia Pacific dominates the global patient blood management market with the largest revenue share. Increased prevalence of specific diseases such as HIV/AIDS and TB, growth in the number of hospitals, an increase in the senior population sensitive to blood disorders such as anemia, and an increase in the purchasing power of populous countries such as China and India are the major factors responsible for Asia Pacific’s significant revenue share in the global market.
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Competitive Landscape
The important players in the global patient blood management market are:
- Asahi Kasei Corporation
- B. Braun SE
- Abbott Laboratories
- BioMérieux, Inc.
- Grifols, S.A
- Bio-Rad Laboratories, Inc.
- Haemonetics Corporation
- Haier Biomedical
- Immucor, Inc.
- LivaNova PLC
- Macopharma
- Terumo Corporation
- Kaneka Corporation
- F. Hoffmann-La Roche Ltd.
There is moderate competition in the patient blood management market. To introduce novel drugs and products, the major players in the market emphasize research and development. Major companies often engage in mergers and acquisitions to enhance their market share.
Recent developments:
- Grifols, a global leader in plasma medicines, announced a long-term agreement with Canadian Blood Services, Canada’s national blood authority, on September 7, 2022. This deal would greatly improve Canada’s self-sufficiency in immunoglobulin (Ig) medications and major plasma-protein therapies to address numerous immunodeficiencies and other health concerns.
- The US government awarded Terumo Corporation a US$ 10.6 million contract in April 2022 to continue its freeze-dried plasma (FDP) work.
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VALUE PROPOSITIONS RELATED TO THE REPORT:
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- Blanket coverage on competitive landscape
- Winning imperatives
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