- Market Penetration Opportunities in Developing Countries.
- Growing Awareness Regarding the Safety of Donated Blood.
Growth Boosters for Global Patient Blood Management Market:
Globally, the demand for donated blood is increasing because of greater volume of sophisticated medical surgical procedures conducted and the increasing number of trauma cases due to road accidents. These procedures require blood transfusions to make up for blood loss incurred during the procedures. Thus, the rising number of accidents, trauma cases, and surgical procedures performed are contributing to the market growth, thereby increasing the need for patient blood management products.
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.
What the Market Looks Like?
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.
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Growth Strategies Adopted:
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.
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