Patient Blood Management Market Size

Global Patient Blood Management Market Overview

Patient Blood Management Market Size was valued at USD 8.04 billion in 2023. 

The patient blood management market industry is projected to grow from USD 8.61 Billion in 2024 to USD 14.022 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.27% during the forecast period (2024 - 2032).

The main market drivers for the patient blood management market include the growing recognition of the importance of donated blood from the many sectors of the healthcare infrastructure, life sciences, placenta research, and hemoglobin for the development of the medical industry. 

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The development of the medical industry is one of the primary market drivers for the patient blood management market. The rising demand for patient blood management is attributable to the global increase in the number of ailing individuals. The demand for patient blood management products increases as the population ages and becomes more prone to anaemia and blood requirements. Due to technological advancements, the designs of these devices have vastly improved, which has increased patient preference for patient blood management products. Thus driving market revenue for patient blood management.

In addition, malignancies that originate in the bone marrow (such as leukemias) or that have spread there from other sites may cause low blood counts by accumulating normal blood-forming cells. Therefore, the rise in blood cancer incidence promotes the expansion of the patient blood management market. In addition, the rise in government spending on healthcare drives the establishment of new blood banks, diagnostic clinics, pathology laboratories, and government hospitals, which has led to the widespread adoption of patient blood management products and fueled the expansion of this market.

July 2023: Quanterix Corporation, a company fueling scientific discovery and breakthrough diagnostics through ultrasensitive biomarker detection, announced in July 2023 the launch of LucentAD, a test designed to aid in the evaluation of patients exhibiting cognitive symptoms consistent with the earliest stages of Alzheimer's disease (AD). The LucentAD test, which will be available to healthcare providers in conjunction with other diagnostic tools, enables clinicians to assess a patient's likelihood of having amyloid pathology consistent with AD in a streamlined manner. This information will assist healthcare professionals in determining the appropriate follow-up and treatment planning for a patient suspected of having Alzheimer's.

In June 2023, Kakao Corporation's digital healthcare business entered into a collaborative deal with Dexcom to provide a worldwide digital diabetes management service. The agreement, as stated in a press release, merges Kakao Healthcare's expertise in artificial intelligence (AI) and software technology with Dexcom's continuous glucose monitoring (CGM) devices, specifically the Dexcom G6 and G7. Dexcom is currently in the process of seeking approval from the Ministry of Food and Drug Safety for these devices.

In November 2022, Eli Lilly and Company declared their plans to introduce the Tempo® Personalized Diabetes Management Platform in the United States later this year. This platform will be the company's first linked platform. The system aims to aid persons diagnosed with either type 1 or type 2 diabetes, as well as professionals, in making well-informed decisions based on data when it comes to managing Lilly insulin medication. The collaborative development of the compatible app involved Welldoc® and resulted in a private label version of BlueStar®, the diabetes management app owned by the firm. This customized version of the app is capable of receiving insulin dose-related data from the Tempo Smart Button. Healthcare providers will be able to utilize Tempo InsightsTM, a clinician portal, to access data that patients have contributed through the app and track patients' advancements.

Patient Blood Management Market Trends

• 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.

Patient Blood Management Market Segment Insights

Patient Blood Management Product Insights

The patient blood management market segmentation, based on product includes Instruments, Accessories, Reagents and Kits, and Software. The instruments segment dominated the market due to a growth in the need for blood after surgery, an increase in the number of trauma cases, numerous government organizations regulating blood banks, and an increase in trauma cases. Furthermore, due to the increased use of reagents and kits, growth in bloodstream infection, and rise in sepsis incidence, the reagents and kits segment is anticipated to experience the highest CAGR.

Patient Blood Management Component Insights

The patient blood management market segmentation, based on component, includes Whole Blood and Plasma. The whole blood category generated the most income due to the increased demand for blood, accidents, illnesses like anaemia, haemophilia, blood clots, and blood cancers like leukemia and lymphoma. Besides, due to the growth in liver illnesses among the senior population, which call for the usage of plasma globally, the plasma segment is anticipated to experience the greatest growth rate throughout the forecast period.

Figure 1: Patient Blood Management Market, by Component, 2023 & 2032 (USD billion) 

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Patient Blood Management End-User Insights

The patient blood management market segmentation, based on end-user, includes Blood Banks, Hospitals, Diagnostic Clinics and Pathology Labs. The blood banks category generated the most income. Blood banks are strictly regulated, ensuring donors can safely donate their blood or plasma. This segment's revenue growth is also being influenced by rising awareness of blood donation.

Patient Blood Management Regional Insights

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, MRFR 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.

Patient Blood Management Key Market Players & Competitive Insights

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. 

Key Companies in the patient blood management market include

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  Biomérieux SA

  
  


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  Bio-Rad Laboratories Inc.

  
  


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  Braun Melsungen AG

  
  


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  Abbott Laboratories

  
  


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  Danaher Corporation

  
  


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  Hitachi Ltd

  
  


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  Terumo Corporation

  
  

Patient Blood Management Industry Developments

September 2022:A long-term agreement was inked by Canadian Blood Services, Canada's national blood authority, and Grifols, a major participant in the world of plasma pharmaceuticals. This arrangement would enable the company to greatly boost Canada's self-sufficiency in immunoglobulin (Ig) medications, important plasma-protein therapies used to treat a variety of immunodeficiencies as well as other health issues.

April 2022:In order to do additional research on freeze-dried plasma (FDP), Terumo Blood and Cell Technologies was given a contract worth USD 10.6 million. The Defense Health Agency (DHA) sponsors the contract, which is managed by the Naval Medical Research Centre (NMRC). It is with MTEC, a 501(c)(3) biomedical technology consortium that collaborates with the U.S. Army Medical Research and Development Command under an Other Transaction Agreement (OTA).

Patient Blood Management Market Segmentation

Patient Blood Management Product Outlook

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  Instruments

  
  


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  Accessories

  
  


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  Reagents and Kits

  
  


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  Software

  
  

Patient Blood Management Component Outlook

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  Whole Blood

  
  


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  Plasma

  
  

Patient Blood Management End-User Outlook

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  Blood Banks

  
  


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  Hospitals

  
  


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  Diagnostic Clinics

  
  


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  Pathology Labs

  
  

Patient Blood Management Regional Outlook

• North America
  
  
  
  • US.
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America