Patient Blood Management Market

The global patient blood management market is foreseen to grow at 7.6%, from USD 12.4 Billion in 2021 to USD 22.3 Billion in 2029. The rising prevalence of target diseases and increasing demand for donated blood is owing to the growth of the global patient blood management market. However, the high cost associated with automated systems remains one factor restraining the market growth for the foreseen period.

Patient blood management (PBM) is a professional specializations approach to caring for patients who might need a blood transfusion. The rise in the number of target illnesses augments the demand for the patient blood management market for the expected future. For example, according to the American Cancer Society, in 2018, around 17.0 million new cancer cases were estimated by the International Agency for Research on Cancer (IARC).

Besides, the increasing number of blood donations and blood donors is one of the factors seen to propel the market's growth. For instance, according to the World Health Organization (WHO), in 2020, around 118.5 million blood donations were collected globally. Eventually increasing the global patient blood management (PBM) market. However, Ongoing blood drives cancellations due to illness and weather-related closures are factors to restrain the market growth over the upcoming forecast period.

COVID-19 Impact on Global Patient Blood Management Market

Active flu season, the rising number of COVID-19 cases has substantially grown over the period, increasing the focus of optimizing patient outcomes during the pandemic. The rising COVID-19 infection has thus led to a positive impact on the aspects of patient blood management in recent years. Moreover, rising COVID-19 cases have led to a shortage in the blood supply in the hospitals, thus creating more demand for patient blood management over the period.

Market Segmentation

For the purpose of this report, the global patient blood management market is segmented on the basis of product type, component type, end-user and region:

Product Outlook (Revenue, USD million; 2018-2029)
Instruments	Blood Processing Devices	Blood Cell Processors
		Centrifuge
	Blood Transfusion Devices	Apheresis Machines
		Cell Salvage Systems
		Plasma & Plasma Component Separators
		Other Transfusion Devices
	Blood Culture Screening Devices	Automated Blood Culture Systems
		Supporting Equipment
	Diagnostic & Testing Instruments	Blood Grouping Analyzers
		Blood Grouping Analyzers
		Hematology Analyzer
		Next-Generation Sequencing (NGS) Platforms
		Polymerase Chain Reaction
	Blood Storage Devices	Medical Refrigerators
		Medical Freezers
Accessories	Blood Bags
	Syringes & Needles
	Vials & Tubes
	Other Accessories
Reagents and Kits	Assay Kits
	Blood Culture Media
	Blood Typing Reagents
	Slide Staining Reagents
	Others
Software	Blood Bank Management Software
	Transfusion Management Software
	Other Softwares
Component Outlook (Revenue, USD million; 2018-2029)
Whole Blood & Red Blood Cells
Blood Components
End User Outlook (Revenue, USD million; 2018-2029)
Blood Banks
Diagnostic Clinics and & Pathology Labs
Hospitals

 

Product Type Outlook:

On the basis of product type, the market is segmented into instruments, accessories, reagents and kits, software. Further, instruments are segmented into blood processing devices, blood transfusion devices, blood culture screening devices, diagnostic & testing instruments, blood storage devices. Further, accessories are segmented into blood bags, syringes & needles, vials & tubes, other accessories. Further, reagents and kits are segmented into assay kits, blood culture media, blood typing reagents, slide staining reagents, others. Further, the software is segmented into blood bank management software, transfusion management software, and others. The instruments segment holds the most considerable market share in 2021 due to the increasing number of blood donations and technological refinements in blood management instruments.

Figure 1 - Patient Blood Management Market, By Product Type (Market Size And Forecast By Value - USD Million, 2021 & 2029)

Component Type Outlook:

On the basis of components, the market is segmented into whole blood & red blood cells blood components. The whole blood and erythrocytes segment is predicted to have lucrative growth and significant market share because of growing disease incidence and rising surgical volumes during the forecast period.

Figure 2 - Component Type Outlook (Revenue, USD Million, 2021)

End-User Outlook:

On the basis of end-user, the market is segmented into hospitals, blood banks, diagnostic clinics, and & pathology labs. Stringent Regulatory Compliances for Established Diagnostic Clinics & Pathology Labs are anticipated to have a lucrative growth from 2022 to 2029.

Figure 3 - Patient Blood Management Market, By End User (Market Size and Forecast by Value - USD Million, 2021 & 2029)

Regional Outlook (Revenue, USD million; 2021 & 2029)

North America dominates the global patient blood management market with the rising cases of cancer in the region. Also, growing surgical procedures with a surge in the number of accidents in the area are factors propelling the market growth.

Besides, emerging nations such as South Africa Brazil, among others, have tremendous market penetration opportunities as the number of people donating blood is fewer numbers. For instance, according to the World Health Organization (WHO), only 1% of the population in South Africa donate blood. Various blood donation camps and strategies by the South African National Blood Services (SANBS) have led to improved transfusion practices of blood supply in the region. Thus growing the demand for patient blood management market over the forecast period.