Covid 19 Outbreak Impact Analysis Patient Blood Management Market

TMR

4 years ago

Patient blood management (PBM) is a standard of care in the healthcare system, which offers to maximize the use of a patient’s own blood and avoid unnecessary blood transfusions during surgery. Patient blood management can also reduce the need for allogeneic blood transfusions and reduce health-care costs, while ensuring that blood components are available for patients who need them. It represents an international initiative in best practices for transfusion medicine that is supported by the World Health Organization (WHO).

Increasing demand for donated blood is a major factor boosting the market. Increasing incidence of chronic diseases is boosting the demand for donation of blood. According to the American Cancer Society, more than 1.8 million people are expected to be diagnosed with cancer in 2020. Several of them are likely to need blood, sometimes daily, during their chemotherapy treatment. Sickle cell patients also require blood transfusions throughout their lives. As per The American National Red Cross, sickle cell disease affects 90,000 to 100,000 people in the U.S. and about 1,000 babies are born with the disease each year.
However, high cost associated with automated systems is a key factor restraining the patient blood management market. A unit of blood usually costs about US$ 200 to US$ 300. There are added costs for storage and processing, as well as hospital and equipment fees. Costs can be much higher if the transfusion causes an infection or serious health issue. According to the study, when all activities involved in blood transfusion are considered, the estimated price of transfusion of one unit of red cells is between US$ 700 to US$ 1,200.

Based on product, the global patient blood management market can be divided into Instruments, accessories, reagents and kits, and software. The instruments segment can be further classified into blood processing devices, blood transfusion devices, blood culture screening devices, diagnostic & testing instruments, and blood storage devices. The blood processing devices subs-segment can be further split into centrifuges and blood cell processors. The blood transfusion devices segment can be further segregated into apheresis machines, plasma & plasma component separators, cell salvage systems, and other. The blood culture screening devices segment can be bifurcated into automated blood culture systems and supporting laboratory equipment. PCR Instruments, Hematology Analyzers, NGS Platforms, Blood Grouping Analyzers are the sub-segments of the diagnostic & testing instruments segment. The blood storage devices segment can be further divided into medical refrigerators and medical freezers. The accessories segment can be sub-segmented into syringes & needles, vials & tubes, blood bags, and other. Blood culture media, blood typing reagents, slide staining reagents, assay kits, and other are the sub -segments of the reagents and kits segment. The software segment can be split into blood bank management software, transfusion management software, and others.

Among all these, the instruments segment dominated the global market in 2019. Launch of technologically advanced products to smoothen the procedure of blood transfusion is a major factor boosting the market. In April 2019, Illinois-based Ecomed Solutions launched HEMAsavR, a blood management device that can be installed in operating theatres, to collect a patient’s lost blood during surgery and return it to their body.