Patient Blood Management Market: Introduction
- Patient blood management (PBM) is a standard of care in the healthcare system, which offers to maximize the use of a patient’s own blood and avoid unnecessary blood transfusions during surgery. Patient blood management can also reduce the need for allogeneic blood transfusions and reduce health-care costs, while ensuring that blood components are available for patients who need them. It represents an international initiative in best practices for transfusion medicine that is supported by the World Health Organization (WHO).
Report Overview @
Key Drivers and Restraints of Global Patient Blood Management Market
- Increasing demand for donated blood is a major factor boosting the market. Increasing incidence of chronic diseases is boosting the demand for donation of blood. According to the American Cancer Society, more than 1.8 million people are expected to be diagnosed with cancer in 2020. Several of them are likely to need blood, sometimes daily, during their chemotherapy treatment. Sickle cell patients also require blood transfusions throughout their lives. As per The American National Red Cross, sickle cell disease affects 90,000 to 100,000 people in the U.S. and about 1,000 babies are born with the disease each year.
- However, high cost associated with automated systems is a key factor restraining the patient blood management market. A unit of blood usually costs about US$ 200 to US$ 300. There are added costs for storage and processing, as well as hospital and equipment fees. Costs can be much higher if the transfusion causes an infection or serious health issue. According to the study, when all activities involved in blood transfusion are considered, the estimated price of transfusion of one unit of red cells is between US$ 700 to US$ 1,200.
Planning To Lay Down Future Strategy? Request Brochure Of Patient Blood Management Market
Instrument Segment to Dominate Global Patient Blood Management Market
- Based on product, the global patient blood management market can be divided into Instruments, accessories, reagents and kits, and software. The instruments segment can be further classified into blood processing devices, blood transfusion devices, blood culture screening devices, diagnostic & testing instruments, and blood storage devices. The blood processing devices subs-segment can be further split into centrifuges and blood cell processors. The blood transfusion devices segment can be further segregated into apheresis machines, plasma & plasma component separators, cell salvage systems, and other. The blood culture screening devices segment can be bifurcated into automated blood culture systems and supporting laboratory equipment. PCR Instruments, Hematology Analyzers, NGS Platforms, Blood Grouping Analyzers are the sub-segments of the diagnostic & testing instruments segment. The blood storage devices segment can be further divided into medical refrigerators and medical freezers. The accessories segment can be sub-segmented into syringes & needles, vials & tubes, blood bags, and other. Blood culture media, blood typing reagents, slide staining reagents, assay kits, and other are the sub -segments of the reagents and kits segment. The software segment can be split into blood bank management software, transfusion management software, and others.
- Among all these, the instruments segment dominated the global market in 2019. Launch of technologically advanced products to smoothen the procedure of blood transfusion is a major factor boosting the market. In April 2019, Illinois-based Ecomed Solutions launched HEMAsavR, a blood management device that can be installed in operating theatres, to collect a patient’s lost blood during surgery and return it to their body.
To Obtain All-Inclusive Information On Forecast Analysis Of Patient Blood Management Market , Request A Discount
Whole Blood & Red Blood Cells Segment to Dominate Global Patient Blood Management Market
- Based on components, the global patient blood management market can be divided into whole blood & red blood cells and plasma
- The whole blood & red blood cells segment dominated the market in 2019, in terms of revenue generation. Whole blood contains red cells, stable clotting factors, and volume in each unit that make it potentially beneficial in rapidly hemorrhaging patients.
- The World Health Organization has noted that road accidents are a major public health issue, as it injures about 50 million people a year, with 90% of such casualties occurring in developing countries.
Blood Banks Segment to Expand Significantly
- Based on end user, the global patient blood management market can be split into blood banks, hospitals and diagnostic clinics and & pathology labs
- The blood banks segment accounted for a notable share of the patient blood management market in 2019. The segment is projected to expand at a notable CAGR during the forecast period. This expansion is attributed to a rise in the demand for blood transfusion along with an increase in awareness about blood donations.
- Data reported to WHO shows significant increase of voluntary unpaid blood donations in low- and middle-income countries. An increase of 11.6 million blood donations from voluntary unpaid donors from 2008 to 2015 has been reported by 139 countries. The highest increase of voluntary unpaid blood donations has been witnessed the Southeast Asia (83%) and the Americas (70%).
Request For Covid19 Impact Analysis –
North America is estimated to dominate the Global Patient Blood Management Market
- In terms of region, the global patient blood management market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of revenue, North America dominated the global patient blood management market followed by Europe. Increase demand for blood transfusion is a major factor that fuels the market. According to Community Blood Center, 4.5 million people in the U.S. are likely to need blood transfusion each year. According to WHO, of the 117.4 million blood donations collected globally, 42% of these are collected in high-income countries, home to 16% of the world’s population.
- However, the market in Asia Pacific is estimated to expand at a considerable CAGR between 2020 and 2030. As per WHO data, in low-income countries, up to 52% of blood transfusions are given to children under 5 years of age; while in high-income countries, the most frequently transfused patient group is over 65 years of age, accounting for up to 75% of all transfusions.
Key Manufacturers Operating in Market
The global patient blood management market was highly fragmented in 2019. Key manufacturers operating in the global market are:
- Haemonetics Corporation
- Fresenius Se & Co. KGaA
- Terumo Corporation
- Immucor, Inc.
- B. Braun Melsungen AG
- Biomérieux SA
- Asahi Kasei Medical Co. Ltd.
- Kaneka Corporation
- Bio-Rad Laboratories, Inc.
- Abbott Laboratories
- Grifols, S.A.
- F. Hoffmann-La Roche LTD.
- Livanova PLC
- Danaher Corporation
More Trending Reports by Transparency Market Research – 1. https://www.prnewswire.com/news-releases/global-chronic-obstructive-pulmonary-disease-copd-treatment-market-to-reach-us-26-2-bn-in-2027-drug-makers-focus-on-combination-therapies-transparency-market-research-301011476.html