The global patient blood management market is valued at US$ 12.7 billion and is projected to expand at a high-value CAGR of 7.7% through 2027, as per the latest study by Fact.MR.
The world has witnessed a prominent increase in the incidence of blood disorders and this has led to the high demand for plasma and blood transfusions across the world, which is expected to favor the patient blood management market growth potential in the future. However, the market is expected to be faced with challenges such as the illegal stocking of blood, corruption in blood banks, and high costs of automated patient blood management systems.
Key Takeaways from Market Study
- Demand for software is projected to rise at 6.3% CAGR across the forecast period.
- The global patient blood management market in 2022 is valued at US$ 12.7 billion.
- Over the next five years, the market is expected to exhibit expansion at a CAGR of 7.7%.
- By 2027, the market for patient blood management is anticipated to account for a valuation of US$ 18.4 billion.
- Rising prevalence of blood disorders, increasing number of blood donors, growing awareness of blood transfusion in developing countries, supportive government initiatives, and technological advancements are projected to drive market growth.
- Demand for patient blood management in China is anticipated to increase at a stellar CAGR of 10% and reach US$ 3.8 billion by the end of 2027.
- However, the high costs of patient blood management devices are slated to dent market progress to some extent.
- The United States market enjoys a valuation of US$ 3.5 billion in 2022.
In 2019, the global patient blood management market was highly fragmented. Key manufacturers operating in the global market are:
- Biomérieux SA
- F. Hoffmann-La Roche LTD.
- Terumo Corporation
- Asahi Kasei Medical Co. Ltd.
- Immucor Inc.
- Kaneka Corporation
- Abbott Laboratories