Global patient blood management (PBM) market currently worth of around US$11 Bn is projected for healthy growth prospects in the near future. As the blood transfusion space continues to transform and the conventional way of disease treatment delivery evolves, the need for conservation of blood resources becomes of paramount importance. This remains the key driving force for patient blood management market, says a new research study of Fairfield Market Research. The report suggests that the significance of effective patient blood management will grow with rising demand for assured availability of blood for effective disease treatment. The market is expected to gain from the year-over-year reducing rate of post-operative morbidity. An increasing number of physicians are likely to generate demand for PBM solutions as it can potentially help in reducing the number of donors with each year.
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Blood Banks Continue to Play an Indispensable Role in Market Expansion
Blood banks currently register the maximum consumption of PBM system. The technique is particularly used at blood banks for platelets considering their shorter shelf-life, and specific storage and transfer needs. When it comes to ensuring preservation of platelets in their original form to prevent potential transfusion/post-transfusion complications, effective patient blood management plays a crucial role. PBM has also become a preferred techniques among blood banks for red blood cells. It is thus most likely that blood banks will continue to be the prime consumer segment in global patient blood management market.
Interest Around PBM Builds up in the Backdrop of Global Anaemia Burden
Anaemia continues to be among the leading concerning health conditions worldwide. Many other associated conditions such as cancers, heart failure, kidney disorder(s), stroke, autoimmune disorder(s), and chronic obstructive pulmonary disease (COPD) further point to the growing severity of anaemia. Specifically targeting the chronic disease patient population, PBM is being increasingly perceived as an effective, and practically dependable solution to unnecessary blood transfusions. Growing preference for PBM also promotes optimum haemoglobin care, thereby pushing the overall growth prospects of market. Moreover, as medical facilities aim for minimum intraoperative blood transfusion, reduced perioperative blood loss, and optimum post-operative IV fluid management, PBM market is poised for a surge in future.
PBM Landscape Spreads its Roots Stronger in North America
The market for patient blood management has been building up stronger over the recent past in North America. While this proliferation is clearly attributable to the supportive force given by hospitals and other healthcare facilities, universities and academic research organisations, private companies, as well as governments, the report highlights that growing public awareness also plays an instrumental role for market. North America’s blood transfusion market has been important, globally, and one of the strongest factors pushing this growth is the increasing public awareness about blood transfusion, safer practices, and role of technology. Clinics, and hospitals have been increasingly showing inclination toward safer transfusion practices through adoption of patient blood management tools.
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Patient Blood Management Market Research Report: By Product (Instruments, Accessories, Reagents and Kits, Software), By Component (Whole Blood, Plasma) and By End-User (Blood Banks, Hospitals, Diagnostic Clinics and & Pathology Labs)-Forecast to 2027Market Analysis The global patient blood management market is likely to touch USD 15,848 million at a 6.48% CAGR between 2019- 2025, as per the recent report by Market Research Future (MRFR).
Patient blood management is used for minimizing blood loss at the time of surgical operations and optimizing the blood of the patient.
This is carried out by doctors for patients that possess the risk of blood loss at the time of surgical intervention.
Some of its different types include software, reagents and kits, and instrument accessories.Various factors are adding to the global patient blood management market growth.
Regional Analysis Based on the region, the global patient blood management market report covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA).
The growing prevalence of cancer, the increasing number of surgical procedures, the presence of a well-established healthcare sector, and the presence of several hospitals in the US are adding to the growth of the market in the region.
The Business Research Company published its Patient Blood Management Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global Patient Blood Management market.
The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.The report covers the patient blood management market’s segments-1) By Product: Instruments, Accessories, Reagents And Kits, Software2) By Component: Plasma, Whole Blood, Red Blood Cells3) By Application: Hospital, Clinic, Others.View Complete Report: https://www.thebusinessresearchcompany.com/report/patient-blood-management-market-global-report-2020-30-covid-19-growth-and-changePatient Blood Management Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities.
The entire supply chain has been disrupted, impacting the market negatively.
The market is then expected to recover and reach $12.63 billion in 2023 at a CAGR of 8.28%.HEMAsavR is a sterile medical device to capture and transfer blood, which is increasingly being used to collect and salvage blood in surgical procedures and respond quickly to unanticipated blood loss.
