Patient Blood Management Market to Experience a Healthy Growth Rate During Forecast Period

PUNE, India, 2021-Jan-20 — /EPR Network/ —

Major Objectives Behind This Study:

# To define, describe, and forecast the Patient Blood Management Techniques Market on the basis of product, component, end user, and region.
# To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, opportunities, and industry-specific challenges).
# To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the market.
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.
# To forecast the revenue of the market segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
# To strategically profile the key players and comprehensively analyze their market shares and core competencies.
# To track and analyze competitive developments such as new product launches; agreements, partnerships, and joint ventures; mergers & acquisitions; business expansions and research & development activities in the market.

Expected Revenue Growth:

The patient blood management market is projected to reach USD 15.3 billion by 2024 from USD 10.7 billion in 2019, at a CAGR of 7.4% from 2019 to 2024.

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Major Growth Boosters:

Globally, the demand for donated blood is increasing because of greater volume of sophisticated medical surgical procedures conducted and the increasing number of trauma cases due to road accidents. These procedures require blood transfusions to make up for blood loss incurred during the procedures. Thus, the rising number of accidents, trauma cases, and surgical procedures performed are contributing to the market growth, thereby increasing the need for patient blood management products.

End Users:

Blood banks were the key end users in the patient blood management market in 2019

On the basis of end users, the patient blood management market is segmented into hospitals and blood banks. The increasing number of blood donations has increased the need for proper management of blood. Blood banks are the key end users for various blood processing devices, blood collection devices, and blood storage devices. The key factors attributing to the growth of the blood banks segment include the growing awareness about blood donations, rising automation in blood banks, and the increase in the number of blood banks in developing countries.

Geographical Growth:

The Asia Pacific region is expected to register significant growth during the forecast period of 2019-2024

The Patient Blood Management Techniques Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific blood management market is expected to register significant growth over the forecast period due to the modernization of healthcare infrastructure, increasing prevalence of chronic lifestyle diseases, and rising awareness about blood donation & blood safety. China accounted for a major share of the Asia Pacific market, owing to a large patient pool and favorable government guidelines to improve healthcare infrastructure in the country.

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Global Leaders:

The prominent players in the patient blood management market include Haemonetics Corporation (US), Fresenius SE & Co. KGaA (Germany), Terumo Corporation (Japan), Immucor, Inc. (US), B. Braun Melsungen AG (Ireland), Macopharma (US), bioMérieux SA (France), Asahi Kasei Corporation (Japan), Bio-Rad Laboratories, Inc. (US), Abbott Laboratories (US), Grifols, S.A. (Spain), F. Hoffmann-La Roche Ltd. (Switzerland), LivaNova PLC (UK), Danaher Corporation (US), Mediware Information Systems (US), Kawasumi Laboratories, Inc.(Japan), Haier Biomedical (China), Diatron (Hungary), and BAG Diagnostics GmbH (Germany), among others.

An analysis of market developments between 2016 and 2019 revealed that several growth strategies such as product launches and enhancements, collaborations, partnerships, agreements, and strategic acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the Patient Blood Management Techniques Market.

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