Patient Blood Management Market

Patient Blood Management Market Outlook (2022-2027)

The global patient blood management market in 2022 is valued at US$ 12.7 billion and is estimated to reach a sales revenue of US$ 18.4 billion by the end of 2027. Demand for patient blood management is anticipated to increase rapidly at a CAGR of 7.7% over the next five years.

The market is expected to be primarily driven by the high prevalence of blood-related disorders and also the growing number of blood donors across the world. Increasing investments in healthcare infrastructure development in emerging economies, rising technological proliferation in the healthcare sector, high prevalence of blood disorders, and technological advancements in patient blood management devices are other factors that are set to uplift market growth potential over the coming years.

• As per data from the World Health Organization (WHO), an increase of 10.7 million voluntary unpaid blood donations has been reported in the period 2008 to 2018. Of which, the highest increase of around 127% was recorded in the Southeast Asia region, followed by the American region with an increase of around 81%.

An increasing number of blood banks owing to the rising number of blood donors is also a prime factor that is predicted to supplement the patient blood management market evolution. Growing focus on healthcare cost reduction is also expected to drive the demand for patient blood management (PBM).

Growing demand for plasma-derived medicinal products (PDMP) across the world is also expected to promote the adoption of blood storage and management systems across the world. Rising number of accidents across the world is also expected to contribute to the rising demand for efficient patient blood management solutions that help in acquiring the needed blood in times of emergency. Increasing focus on patient safety is also expected to promulgate the deployment of patient blood management software in healthcare institutions to reduce complications and medical costs.

Corruption and stocking of blood in blood banks to gain monetary benefits are major challenges that could negatively impact the patient blood management market share in the near future. Also, the high costs of patient blood management systems and software are expected to have a constraining effect on overall market development throughout the forecast period.

Demand for blood management in China is anticipated to increase at an impressive CAGR of 10% throughout the forecast period and account for a revenue of US$ 3.8 billion by the end of 2027. Supportive government initiatives to develop healthcare infrastructure are expected to play a major role in the development of the market in China over the coming years.

A complete analysis of all market trends, opportunities, challenges, and restraints has been profiled in this latest patient blood management market report by skilled analysts at Fact.MR, a market research and competitive intelligence provider.

Report Attributes	Details
Patient Blood Management Market Size (2022)	US$ 12.7 Billion
Projected Market Value (2027F)	US$ 18.4 Billion
Global Market Growth Rate (2022-2027)	7.7% CAGR
United States Market Value (2022)	US$ 3.5 Billion
Software Segment Growth Rate (2022-2027)	6.3% CAGR
Canada Market Growth Rate (2022-2027)	6.1% CAGR
China Market Value (2027F)	US$ 3.8 Billion
Key Companies Profiled	Macopharma Biomérieux SA F. Hoffmann-La Roche LTD. Terumo Corporation Asahi Kasei Medical Co. Ltd. Immucor Inc. Kaneka Corporation Abbott Laboratories Grifols S.A. Bio-Rad Laboratories Inc. Fresenius Se & Co. KGaA Haemonetics Corporation Livanova PLC B. Braun Melsungen AG

What Aspects are Expected to Guide Patient Blood Management Market Development?

“Rising Number of Blood Donors Will Uplift Demand for Patient Blood Management Systems”

Blood donations across the world have increased substantially in recent years owing to rising demand for blood transfusions while treating several chronic diseases that are expected to rise across the forecast period. Increasing use of donated blood in the treatment of several diseases is anticipated to supplement patient blood management market growth throughout the forecast period.

“Growing Demand for Reduction of Healthcare Costs”

While the focus on healthcare has bolstered exponentially in the past few years there has also been a substantial increase in the overall cost of healthcare. Patient blood management can be used to mitigate this issue by eliminating the need for allogeneic blood transfusions. Patient blood management also helps in the conservation of patients’ blood during medical procedures and reduces the overall need for blood and hence reducing medical costs.

Patient blood management also helps in reducing complications by avoiding blood loss and keeping the patient safe and stable while undergoing a medical procedure or in recovery.

“Cost of Patient Blood Management Devices Need to Be Reduced”

Patient blood management requires software and hardware components that are expensive in nature most of the time and this results in highly-priced blood management equipment. Many healthcare establishments don’t have the budget to afford such expensive equipment and this acts as a major restraint for overall patient blood management market growth.

High costs of blood transfusion devices and whole blood units also contribute to the high costs of blood transfusion processes and hence have a negative impact on demand for patient blood management.

Which Regional Market Should Patient Blood Management Providers Focus On More?

“Asia Pacific Expected to Witness Upsurge in Product & Service Demand”

The patient blood management market in North America currently holds a dominant market stance and is expected to maintain a similar position throughout the forecast period. Developed healthcare infrastructure in this region is anticipated to be a prime driver for patient blood management market potential over the years to come. The rapid adoption of advanced healthcare technologies in this region is also expected to be a key driver for the market in North America through 2027.

The market for patient blood management in Canada is projected to evolve at a healthy CAGR of 6.1% over the next five years.

The Asia Pacific patient blood management market is anticipated to be the most lucrative market across the forecast period owing to increasing investments in healthcare infrastructure development and supportive initiatives from governments in this region. Rising awareness for blood transfusions, the growing availability of blood management devices, technological advancements, an increasing patient pool requiring blood management, and a high incidence of chronic diseases are other factors that sculpt patient blood management market growth in this region.

Developing economies of India and China are expected to head the patient blood management market growth in this region over the years to come. The flourishing medical tourism industry in the aforementioned economies is also expected to provide new opportunities for patient blood management providers. The demand for patient blood management in Japan is predicted to increase at a 3.7% CAGR across the forecast period.

The growing geriatric patient pool and rising prevalence of blood disorders are expected to be prime drivers for the Europe patient blood management market in the future. Germany is predicted to be a crucial market in this region and is projected to evolve at a 4% CAGR over the next five years.

Country-wise Insights

Why is Demand for Blood Processing Devices High in the U.S.?

“High Incidence of Blood Disorders & Presence of Developed Healthcare Infrastructure”

The United is the most lucrative market in the North American region owing to its developed healthcare infrastructure and rapid adoption of advanced healthcare technologies. The country has witnessed a notable increase in the incidence of blood-related disorders and blood cancer, which is expected to further boost demand for patient blood management.

As per statistics from the Community Blood Center, around 4.5 million Americans will be needing blood transfusions each year and around 37% population of the United States is eligible to donate blood.

Favorable reimbursement policies, high healthcare spending potential, and the presence of key patient blood management providers are other factors that favor patient blood management market growth in the United States. At present, the U.S. patient blood management market is valued at US$ 3.5 billion and is expected to account for a major revenue share in the North American market throughout the forecast period.

Category-wise Insights

Which Product Will Have a Bright Demand Outlook?

“Instruments & Software to Spearhead Patient Blood Management Market Evolution”

The global patient blood management market, based on product, is segmented into reagents & kits, software, accessories, and instruments.

Demand for instruments is anticipated to increase at a CAGR of 6.5% over the next five years owing to their increasing demand in hospitals and blood banks. A growing number of blood transfusions and rising demand for proper management of blood are other factors that are expected to drive growth in the instruments segment. The demand for software is slated to rise at a CAGR of 6.3% across the forecast period and this can be ascribed to the rising popularity of automated patient blood management systems.

Competitive Landscape :

Major players operating in the patient blood management market are deploying strategies that could help them enhance their overall market share and bolster their stance on a global scale.

• In October 2022, InVita Healthcare Technologies, a leading software solution provider announced the acquisition of BloodHub, a leader in blood and biologics supply chain automation. Through this BloodHub with InVita's Blood Management Division is looking to become the most complete provider of connected software solutions for blood centers.

Patient Blood Management Industry Research Segments

• By Product :

  • Instruments
    • Blood Processing Devices
      • Centrifuges
      • Blood Cell Processors
    • Blood Transfusion Devices
      • Apheresis Machines
      • Plasma & Plasma Component Separators
      • Cell Salvage Systems
      • Others
    • Blood Culture Screening Devices
      • Automated Blood Culture Systems
      • Supporting Laboratory Equipment
    • Diagnostic & Testing Instruments
      • PCR Instruments
      • Hematology Analyzers
      • NGS Platforms
      • Blood Grouping Analyzers
    • Blood Storage Devices
      • Medical Refrigerators
      • Medical Freezers
  • Accessories
    • Syringes & Needles
    • Vials & Tubes
    • Blood Bags
    • Others
  • Reagents & Kits
    • Blood Culture Media
    • Blood Typing Reagents
    • Slide Staining Reagents
    • Assay Kits
    • Others
  • Software
    • Blood Bank Management Software
    • Transfusion Management Software
    • Others

• By Component :

  • Whole Blood & Red Blood Cells
  • Plasma

• By End User :

  • Hospitals
  • Diagnostic Clinics
  • Blood Banks
  • Pathology Labs

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA