(PharmaNewsWire.Com, February 01, 2021 ) The global patient blood management market size 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.
The growth of this market is attributed to the increasing demand for donated blood, rising prevalence of target diseases, increasing number of blood donations and blood donors, and technological advancements.
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 market.
Fresenius SE & Co. KGaA (Germany): Fresenius is a prominent company in the patient blood management market. The company operates in this market through its apheresis systems, plasmapheresis, autotransfusion systems, blood collection, and blood screening systems, as well as data management solutions. Fresenius focuses on R&D investments to deliver novel solutions in the market. Moreover, the expansion of its geographical presence and strategic collaborations with distributers are other key strategies adopted by the company to establish itself as a leading player in this market.
Haemonetics Corporation (US): Haemonetics is another leader in the patient blood management market. The company offers automated blood component and manual whole blood collection systems to blood collection centers for the efficient and cost-effective collection of blood products. Additionally, Haemonetics also offers software solutions that help blood collection centers with blood drives, donor recruitment & retention, component manufacturing, and distribution. Technological advancements and new product launches are the key strategies adopted by the company in this market.
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.
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