Patient Blood Management Market

• Increase in number of accidents is driving the market growth

The market CAGR for patient blood management grew as a result of an increase in accidents, trauma cases, and surgical procedures. WHO estimates that 1.35 million people worldwide lose their lives in traffic accidents every year, with 93% of these deaths occurring in low- and middle-income nations. According to the Centers for Disease Control and Prevention, the caesarean birth rate was 32.1% of all births in 2021. The patient blood management market is being driven by an increase in accidents, trauma cases, and surgical procedures that have led to an increase in the need for blood and its products.

Additionally, an increase in blood donations and donors is anticipated to fuel market revenue growth. For instance, in the U.S., a daily requirement of about 29,000 units of red blood cells is required. Each year, around 16 million different blood components are transfused. More than 1.8 million people are diagnosed with cancer in 2020, and many of them will need blood transfusions during their chemotherapy treatments—some even daily. PBM incorporates all aspects of the transfusion decision-making process, from the first patient evaluation to clinical therapy, and is an evidence-based approach to treating patients who require blood transfusions.

The increase in the number of ill people in the world is the cause of the rising demand for patient blood management. The demand for patient blood management products rises as the population gets older and is more susceptible to anaemia and blood needs. For instance, according to a report from UNFPA Asia-Pacific, it is predicted that the region's older population will triple to 1.3 billion by 2050, with women making up the majority (53 percent) of those in the region who are 60 or older and the majority (60 percent) of those over 80.

The designs of these devices have significantly improved thanks to technical breakthroughs, which has increased patient preference for patient blood management goods. Thus, driving the patient blood management market revenue.

The aging population worldwide significantly influences the Global Patient Blood Management Market Industry. As individuals age, they often face an increased risk of chronic diseases and surgical interventions, leading to a higher demand for blood products. The demographic shift towards an older population necessitates effective blood management strategies to address the unique healthcare needs of this group. By 2035, the market is projected to reach 16.8 USD Billion, reflecting the urgent need for healthcare systems to adapt to these demographic changes. This trend underscores the importance of developing targeted blood management programs that cater to the complexities associated with aging patients.

Regulatory frameworks and guidelines established by health authorities are instrumental in the Global Patient Blood Management Market Industry. Governments worldwide are emphasizing the need for stringent blood management protocols to ensure patient safety and reduce transfusion-related complications. Initiatives aimed at promoting evidence-based practices in blood utilization are gaining traction, encouraging healthcare providers to adopt comprehensive blood management programs. This regulatory support is likely to foster a more structured approach to blood management, ultimately contributing to the market's growth trajectory as it adapts to evolving standards and practices.

The Global Patient Blood Management Market Industry experiences a notable increase in demand for blood components, driven by rising surgical procedures and trauma cases. As healthcare systems globally prioritize patient safety and outcomes, the need for effective blood management strategies becomes paramount. In 2024, the market is projected to reach 8.61 USD Billion, reflecting the growing recognition of the importance of optimizing blood use. This trend is likely to continue as hospitals implement protocols to minimize blood transfusions while ensuring adequate supply, thereby enhancing patient care and reducing costs associated with blood procurement.

Technological innovations play a crucial role in shaping the Global Patient Blood Management Market Industry. Advanced blood management systems, including software for tracking blood usage and inventory, are increasingly adopted by healthcare facilities. These technologies not only streamline operations but also improve patient outcomes by ensuring timely access to blood products. The integration of artificial intelligence and data analytics into blood management practices is expected to enhance decision-making processes. As the market evolves, these advancements are projected to contribute significantly to the anticipated growth, with a CAGR of 6.28% from 2025 to 2035.

There is a growing awareness regarding blood conservation strategies within the Global Patient Blood Management Market Industry. Healthcare professionals and institutions are increasingly recognizing the benefits of minimizing blood transfusions through various techniques such as preoperative anemia management and intraoperative blood salvage. This shift towards conservative approaches not only enhances patient safety but also reduces healthcare costs associated with unnecessary transfusions. As awareness continues to rise, the market is expected to expand, with stakeholders actively seeking innovative solutions to optimize blood use and improve overall patient outcomes.

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific patient blood management market will dominate due to expanding demand for blood transfusions, rising rates of iron deficiency in the population, and considerable government efforts to raise public awareness of safe blood transfusion practices while updating current infrastructure. For instance, after realizing the importance of blood in sustaining the nation's healthcare system, the Indian government launched a variety of programmes.

One of these steps was the creation of the National Blood Transfusion Council, which ensures coordination between the states, other ministries, and health initiatives.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: PATIENT BLOOD MANAGEMENT MARKET SHARE BY REGION 2023 (%) 

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe patient blood management market accounts for the second-largest market share. This is due to technological advances that make it possible to create unusual blood types in the lab and the rising prevalence of target disorders like anaemia. For instance, 25% of the world's population, or about 1.6 billion people, have anaemia. Preoperative anaemia is a common side effect of major surgery. Traditional treatments, such blood transfusions, have a number of disadvantages. Patient blood management aims to increase market income by reducing the need for transfusions.

Further, the German patient blood management market held the largest market share, and the UK patient blood management market was the fastest growing market in the European region

The North America Patient blood management Market is expected to grow at the fastest CAGR from 2023 to 2032 due to a rise in the population's iron deficiency, a rise in the need for blood transfusions, and major government efforts to raise knowledge of safe blood transfusion practices while also updating the country's infrastructure. For instance, the Indian government launched several initiatives after realizing the significance of blood in the nation's healthcare system. As one of these steps to ensure collaboration between the states, several ministries, and health programmes, the National Blood Transfusion Council was founded.

Moreover, US patient blood management market held the largest market share, and the Canada patient blood management market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the patient blood management market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, patient blood management industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the patient blood management industry to benefit clients and increase the market sector. In recent years, the patient blood management industry has offered some of the most significant advantages to medicine. Major players in the patient blood management market attempting to increase market demand by investing in research and development operations include Biomérieux SA, Bio-Rad Laboratories Inc., Braun Melsungen AG, Abbott Laboratories, Danaher Corporation, Hitachi Ltd and Terumo Corporation.

Medical technology and pharmaceutical goods are developed, produced, and distributed by B. Braun Melsungen AG (B. Braun), in addition to offering medical services. Infusion solutions and consumables, infusion pumps and systems, cleaning products, nutrition and pain management, hip and knee implants, suture materials, surgical instruments, ostomy care, dialysis equipment and accessories, and wound care products are some of the company's main offerings. In the areas of anaesthesia, extracorporeal blood transfusion, intensive care, cardiology, and surgery, B. Braun offers goods and systems.In 2018, the bloodlines division of NxStage Medical, Inc. (US), which operates under the Medisystems name, was purchased by B.

Braun Melsungen AG (Ireland).

Danaher Corp. (Danaher) develops, produces, and sells goods and services for the industrial, commercial, professional, and medical industries. A wide range of testing equipment, communications solutions, water quality systems, professional microscopes, product identification solutions, automation solutions, medical diagnostic solutions, sustainable packaging design solutions, life science research tools, and sensors and controls solutions are available. The corporation runs manufacturing, sales, distribution, service, and administrative facilities across Europe, Australia, Asia, and the Americas.

June 2023: Kakao Corporation's digital healthcare division has engaged into a collaboration agreement with Dexcom to establish a global digital diabetes management service in June 2023. The agreement combines, according to a press release, Kakao Healthcare's capabilities in artificial intelligence (AI) and software technology with Dexcom's continuous glucose monitoring (CGM) devices, the Dexcom G6 and G7, for which the company is presently seeking approval from the Ministry of Food and Drug Safety.

November 2022: Eli Lilly and Company announced in November 2022 that it will launch its first connected platform, the Tempo® Personalized Diabetes Management Platform, in the United States later this year. The technology seeks to assist adults with type 1 or type 2 diabetes and clinicians in making informed, data-supported decisions regarding the management of Lilly insulin treatment. The compatible app was developed in collaboration with Welldoc® and is a private label version of BlueStar®, the company's diabetes management app, modified to receive insulin dose-related data from the Tempo Smart Button.

Healthcare providers will have access to Tempo InsightsTM, a clinician portal where they can access data shared by patients via the app and monitor patients' progress.