A Major Revenue Surge is Expected in Global Patient Blood Management Market in Near Future

Overview of This Study:

The study involved four major activities to estimate the current size of the patient blood management market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the size of the segments and subsegments.

Recent Developments:

# In 2019, Abbott (US) received the US FDA approval for its ‘Alinity s’ blood culture screening system as well as the Afinion HbA1c Dx assay kit.
# In 2019, F. Hoffmann-La Roche LTD (Switzerland) received the US FDA approval for its cobas Babesia Test for donor screening.
# In 2018, Terumo BCT (Japan) and Stafa Cellular Therapy (US) entered into a collaborative agreement. Based on this agreement, Terumo BCT expands access to the StafaCT software to healthcare organizations.
# In 2018, B. Braun Melsungen AG (Ireland) acquired the bloodlines business of NxStage Medical, Inc. (US), which operates under the Medisystems brand.
# In 2018, Abbott (US) received a CE mark for its Alinity h-series to be used in the European Union.

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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 Scenario:

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

The patient blood management 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.

Key Questions Addressed by the Report:

#
What are the growth opportunities related to the adoption of patient blood management solutions across the globe in the future?
# Which product segment will register the highest adoption rate during the forecast period?
# Where will the advancements in products offered by various companies take the industry in the mid- to long-term?
# Emerging countries have immense opportunities for the growth of the market. Will this scenario continue in the next five years?
# Which end users are estimated to adopt patient blood management systems?
# What are the key strategies adopted by the key players operating in the market?

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Key Players:

The major players in the 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.

Different Growth Strategies Adopted by Them:

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 market.