In 2024, Major Revenue Surge Is Expected In The Global Patient Blood Management Market

By Author: Marketsandmarkets
Total Articles: 82
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Market Size Estimation:

A detailed market estimation approach was followed to estimate and validate the size of the patient blood management market and other dependent submarkets, as mentioned above. The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. The research methodology includes the study of the annual and quarterly financial reports of the top market players as well as interviews with industry experts for key insights (both quantitative and qualitative trends) on the market.

All percentage shares, splits, and breakdowns were determined by using secondary sources and verified through primary sources. All the possible parameters that affect the market segments covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data was consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.

Expected Surge ...
... in Revenue Generation:

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.

Growth Boosting Factors:

The rising prevalence of blood disorders and the increasing number of blood donations & blood donors will fuel market growth over the forecast period. Moreover, the rising prevalence of target diseases and technological advancements in the patient blood management industry will further fuel the growth of the market in the near future.

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End Users:

The blood banks end user segment garnered the highest revenue in the patient blood management market in 2019

Based on end users, the market is segmented into hospitals and blood banks. The blood bank segment accounted for the largest share of the market in 2019; moreover, the same segment is expected to register significant growth over the forecast period from 2019 to 2024. The significant growth of this segment is attributed to the increasing awareness of blood donations , the high demand for safe blood, and the rising number of blood donations.

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.

Geographical Growth Scenario:

The Asia Pacific market is expected to grow at the highest CAGR during the forecast period

The market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. China and India are expected to offer significant growth opportunities for players in the market, mainly due to the rising patient pool, growing support from government bodies, and the rising awareness about blood transfusion. The governments in these countries are making significant investments toward the modernization of their respective healthcare infrastructure, which will greatly benefit the market.

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