Patient Blood Management Market
Number of pages: 100 | Report Format: PDF | Published date: 17 March, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market size value in 2022 |
US$ 12.91 billion |
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Revenue forecast in 2031 |
US$ 21.64 billion |
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Growth Rate |
CAGR of 5.9% from 2023 to 2031 |
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Base year for estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments covered |
Product, Components, End-user, and Region. |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global patient blood management market was valued at US$ 12.91 billion in 2022 and is expected to register a revenue CAGR of 5.9% to reach US$ 21.64 billion by 2031.
Market Fundamentals
Patient blood management (PBM) is a multidisciplinary, evidence-based strategy for caring for patients who may require a blood transfusion. Patient blood management (PBM) incorporates all parts of the transfusion decision-making process, from initial examination to clinical treatment. These procedures are intended to ensure the best possible patient outcomes while ensuring that blood components are available when needed. Patient blood management (PBM) has three main goals: 1) increasing red cell mass, which includes treatments such as erythropoiesis-stimulating agents and iron and vitamin supplements; 2) reducing blood loss, such as by optimizing surgical and anesthetic techniques, tranexamic acid (TXA) treatment, and autologous blood salvage; and 3) harnessing and optimizing anemia tolerance by promoting maximum pulmonary and cardiac function and the use of a restrictive transfusion threshold.
The perioperative setting is one of the most important fields of application for patient blood management. Indeed, developments in transfusion medicine have greatly reduced some of the risks and consequences formerly associated with blood transfusions (e.g., infection transfer). On the other hand, anemia and transfusion have been linked to increased morbidity and mortality in surgical patients. The systematic implementation of a Patient blood management program in the perioperative period has repeatedly enhanced patients' clinical results following surgery.
Various transfusion and non-transfusion treatments have been adopted during the last decades to reduce perioperative blood loss in conjunction with advancing surgical procedures. Among patient blood management (PBM)-related transfusion techniques, the issue of the optimal red blood cell (RBC) transfusion policy is crucial. Several randomized controlled trials (RCTs) on patient outcomes have been conducted in a range of surgical settings, comparing restrictive and more liberal blood transfusion techniques.
Another major goal of a patient blood management (PBM)-based approach is the pharmaceutical treatment of perioperative anemia, which is hazardous to patients' health. It is typically associated with extended hospitalization, an increased likelihood of post-operative complications (particularly infections), and a decreased survival rate. Post-operative anemia (PA), in particular, significantly impacts patient outcomes.
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Market Dynamics
The patient blood management market has grown as injuries, and accidents resulting in blood loss have increased. For example, according to World Health Organization (WHO) data, road traffic injury was the leading cause of mortality among children and young adults aged 5-29 in June 2022. Around 1.3 million people die yearly, and 20 to 50 million are injured or disabled due to road traffic crashes. Furthermore, the increased demand for patient blood management results from the global increase of ill people. Because the aging population is more susceptible to anemia and requires blood, the demand for patient blood management solutions rises. According to a UNFPA Asia Pacific report, it is anticipated that the number of older persons in the Asia-Pacific will triple to 1.3 billion by 2050, with women being the majority (53 percent) of the population aged 60 or older in the region, rising to 60 percent over the age of 80. The designs of patient blood management devices have greatly improved as a result of technical breakthroughs, improving patient preference for patient blood management goods. This factor has contributed to the expansion of the patient blood management market. Furthermore, the rising prevalence of hemophilia B, anemia, lymphoma, and HIV/AIDS, which require blood, as well as the rise in chronic liver disorders that require plasma derivatives for treatment, drive the global demand for blood and other blood-related products such as plasma and red blood cells.
Additionally, an increase in the occurrence of trauma and accidents, an increase in government initiatives, and the development of innovative technologies and equipment by major vendors are expected to drive the patient blood management market during the forecast period. For example, Asahi Kasei medical's Sepacell TM Filters drastically transformed the patient blood management scenario while increasing healthcare trust. Roche delivers a complete spectrum of nucleic acid testing (NAT) products that enable the greatest degree of safety and efficiency in donor screening. Consequently, such tendencies are likely to provide market stabilization and, as a result, a growth rate during the forecast period.
Market Ecosystem
The global patient blood management market has been analyzed from four perspectives: Product, Components, End-user, and Region.
Patient Blood Management Market by Product
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Based on product, the global patient blood management market is segmented into instruments, reagents & kits, accessories, and software.
The instruments are further segmented into blood processing devices, blood transfusion devices, blood culture screening devices, diagnostic and testing instruments, and blood storage devices. Also, the reagents & kits are further sub-segmented into blood culture media, blood typing reagents, slide staining reagents, and assay kits. The accessories are segmented into syringes and needles, vials and tubes, and blood bags. During the forecast period, the instruments segment is anticipated to have the largest revenue share. PBM systems technological advancements are responsible for this. For instance, new automated and semi-automated agglutination methods have emerged. Because of their adaptability, effectiveness, and dependability, they are rapidly replacing manual tube methods. In addition to these therapeutic benefits, an automated solution enables transfusing services to tailor their system based on capability.
Patient Blood Management Market by Components
Based on components, the global patient blood management market is segmented into whole blood and, red blood cells, plasma.
The whole blood and red platelets segment will probably overwhelm the market during estimated period. This is because there are more road accidents. For instance, traffic-related injuries are the leading cause of death for adults and children between the ages of 5 and 29. Over 90% of fatal traffic accidents occur in low- and middle-income countries. Over half of all traffic-related fatalities occur within the first 24 hours of being admitted to the emergency room due to bleeding, which includes motorcyclists, cyclists, and pedestrians. Additionally, trauma patients require a significant amount of hospital resources because they account for 70% of all blood transfusions at trauma centers.
Patient Blood Management Market by End User
Based on end-users, the global patient blood management market is segmented into blood banks, hospitals, diagnostic clinics, and pathology labs.
The blood bank segment will likely dominate the market during the forecast period. This is because the blood bank's strict supervision ensures donors can donate their blood or plasma safely. An increase in blood donation awareness is also driving this segment's revenue growth. For instance, the goal of the Indian Union Health Ministry's major blood drive in 2022 was to collect 100,000 units in a single day. The campaign's goal is to make sure that everyone has access to and can afford blood and its components and to raise awareness about the significance of regular unpaid blood donations.
Patient Blood Management Market by Region
Based on region, the global patient blood management market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. Asia-Pacific was responsible for a significant portion of the patient blood management market and is anticipated to expand at the highest rate during the forecast period for the patient blood management market. The rise in the prevalence of specific diseases like HIV/AIDS and tuberculosis, an increase in the number of hospitals, an increase in the elderly population that is susceptible to blood diseases like anemia, and an increase in the purchasing power of populous nations like China and India are all contributing factors to the expansion of the patient blood management market in this region. China is the most populous country in Asia-Pacific, with 1,397,715 people living there in 2020. India is the second most populous, with 1,366,417.75 people living there. Furthermore, the presence of a few central parts, like Haemonetics Enterprise and LivaNova PLC, and the progression in assembling innovation of patient blood the board gadgets in the district drive the development of the market.
During the forecast period, North America will follow Europe regarding patient blood management market share. Due to the rising number of surgical procedures and target diseases like cancer, which necessitate transfusions of blood and blood products to compensate for blood loss during procedures, the market expansion is likely to be aided by a large number of hospitals. The U.S. has over 7,200 dynamic emergency clinics and a deeply grounded healthcare segment.
The well-established medical infrastructures and a high number of road accidents in Europe drive the market, making blood transfusion a fundamental requirement. The Federal Statistical Office of Germany reports that they accounted for 14.5 percent of all accident victims. However, as of 2021, 22.1% of the German population was 65 or older. Older people may use the roads less frequently than younger people because they don't drive to work as frequently. This may be one reason for the fewer accidents and the rising younger population accidents. In addition, the rise in preoperative anemia among patients undergoing orthopedic and other major surgeries has increased the region's demand for patient blood management. However, to cut down on the number of transfusions that aren't needed and improve the quality of care, European healthcare providers must incorporate PBM strategies into routine care for orthopaedic and other surgical patients.
Competitive Landscape
The major players like Terumo Corporation and Grifols, S.A. have adopted acquisition, agreement, collaboration, and product approval as key development strategies to expand the patient blood management market's product portfolio. Some of the prominent market players in the global patient blood management market include:
Strategic Development
Patient blood management (PBM) is a multidisciplinary, evidence-based strategy to caring for patients who may require a blood transfusion. Patient blood management (PBM) incorporates all parts of the transfusion decision-making process, from initial examination to clinical treatment. These procedures are intended to ensure the best possible patient outcomes while ensuring that blood components are available when needed.
North America is the key growth region in the global patient blood management market.
The revenue CAGR of the global patient blood management market during the forecast period will be 5.9%.
Some prominent market players in the global patient blood management market include Asahi Kasei Corporation, B. Braun SE, Abbott Laboratories, and others.
The whole blood and red platelets component segment led the global patient blood management market.
*Insights on financial performance are subject to the availability of information in the public domain
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Snehal Deshmukh
Principle Consultant
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