Patient Blood Management Market insights,Segmentation, Competitive Landscape, Industry Poised for Rapid Growth And Forecast To 2027
Patient Blood Management Market Overview
The global patient blood management market is likely to touch USD 10.7 billion at a 7.56% CAGR between 2020- 2027, as per the recent report by Market Research Future (MRFR). Patient blood management is used for minimizing blood loss at the time of surgical operations and optimizing the blood of the patient. This is carried out by doctors for patients that possess the risk of blood loss at the time of surgical intervention. It has major applications in pathology labs, diagnostic clinics, hospitals, and blood banks. Some of its different types include software, reagents and kits, and instrument accessories.
Various factors are adding to the global Patient Blood Management Market growth. Such factors, according to the new MRFR report, include the growing demand for donated blood, increasing cases of target diseases, and the growing number of blood donations. Besides, growing awareness about blood transfusion safety and new product launches, and technological advances are also adding market growth.
On the contrary, the high price of automated systems may limit the market growth over the forecast period.
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global patient blood management market Insights based on end user, component, and product.
By product, the global patient blood management market is segmented into software, reagents and kits, and instrument accessories. Of these, the instruments segment will lead the market over the forecast period.
By component, the market is segmented into plasma and whole blood. Of these, the whole blood segment will dominate the market over the forecast period for the huge preference for blood transfusion.
By end user segment, the market is segmented into pathology labs, diagnostic clinics, hospitals, and blood banks. Of these, the blood bank segment will have a major share over the forecast period as these are primary locations patients get blood-related products.
Regional Analysis
Based on the region, the global patient blood management market Outlook covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will spearhead the market over the forecast period. The growing prevalence of cancer, the increasing number of surgical procedures, the presence of a well-established healthcare sector, and the presence of several hospitals in the US are adding to the growth of the market in the region.
The market in Europe is predicted to have favorable growth over the forecast period. The presence of well-developed healthcare systems, rising cases of road traffic accidents, and a rising number of blood donations are adding to the growth of the market over the forecast period.
The market in the APAC region is predicted to grow at a fast pace over the forecast period. The rapidly growing healthcare sector and huge population are adding to the growth of the market in the region.
The market in the MEA is predicted to have the smallest share over the forecast period for the limited healthcare facility development.
Key Players
patient blood management market Players report include Immucor, Inc., Grifols, S.A, Terumo Corporation, Hitachi, Ltd., Danaher Corporation, Abbott Laboratories, B. Braun Melsungen AG, Fresenius Se & Co. KGaA, Bio-Rad Laboratories, Inc., and Biomérieux SA. Industry players have encompassed several strategies to create a niche in the market and also cater to the burgeoning needs of customers. These comprise yet is not limited to geographic expansions, joint ventures and collaborations, partnerships, strategic alliances, contracts, mergers and acquisitions, new product launches and development, extensive research and development activities, and more.
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