Patient Blood Management Market Shows Remarkable Growth Trajectory
The global Patient Blood Management (PBM) market is experiencing remarkable growth, with its valuation surging from $11.2 billion in 2020 to an anticipated $18.7 billion by 2027. This exponential growth is attributed to a proactive approach by leading healthcare institutes, a shift towards evidence-based guidelines, and a strong presence in North America.
Preserving Health and Resources
Patient Blood Management involves optimizing patient care by tailoring treatment regimens based on lab tests, reducing blood transfusions when possible, standardizing their use, and improving inventory control to minimize wastage. This approach not only enhances patient outcomes but also conserves valuable blood resources, reducing costs and the need for donor exposure.
Key Drivers for PBM Services
Several factors are driving the demand for Patient Blood Management services:
- Decreased Post-operative Morbidity: PBM significantly lowers post-operative complications, improving patient recovery and overall health.
- Improved Quality of Life: For individuals with chronic diseases, PBM enhances their quality of life by minimizing the need for invasive procedures and transfusions.
- Reduced Mortality Rates: PBM contributes to decreased mortality rates for diseases associated with high surgical risk, ensuring better patient outcomes.
- Decreased Donor Exposure: By reducing the reliance on allogenic blood donors, PBM minimizes the risks associated with infectious diseases.
Patient Blood Management not only benefits individual patients but also addresses broader healthcare challenges. It helps combat anemia, a leading cause of mortality and morbidity worldwide, by optimizing hemoglobin care for patients with chronic diseases. The endorsement of PBM by organizations like the American College of Critical Care Medicine and national patient groups underscores its effectiveness in improving healthcare practices.
PBM is being applied to various medical conditions with promising results:
- Cancer Patients: PBM strategies decrease allogeneic transfusions and bleeding complications associated with treatment.
- Post-CABG Patients: Avoiding the transfusion of two or more blood units reduces hospital mortality rates.
- Hip Fracture Patients: Maintaining hemoglobin levels at 10 g/dL during surgery leads to improved outcomes.
- Intensive Care Units (ICU): Using restrictive transfusion thresholds reduces mortality rates, and autologous blood salvage techniques shorten hospital stays.
- Gastric Bypass Surgery Patients: Future studies will determine the cost-effectiveness of restrictive versus liberal transfusion thresholds.
Blood Banks Leading the Way
Blood banks, which collect, process, and distribute blood to hospitals, are at the forefront of Patient Blood Management. They are exploring PBM techniques, especially with platelets, due to their short shelf life and temperature-sensitive storage requirements. This innovation aims to provide patients undergoing chemotherapy or surgery with more platelets while minimizing complications.
Global Demographic Trends
In 2019, there were 118.4 million units of blood components donated worldwide, predominantly from high-income countries. Male donors outnumbered female donors, contributing to a strong safety net for global health systems.
North America Taking the Lead
North America is at the forefront of the PBM market, driven by increasing demand for blood transfusions, rising awareness of safe practices, and technological advancements in the region. Hospitals, clinics, research organizations, universities, and private companies are key contributors to the growing demand for PBM tools and practices.
As Patient Blood Management continues to revolutionize healthcare, it not only improves patient outcomes but also contributes to a more sustainable and efficient healthcare system worldwide.
Global Industry Analysis (2018 – 2021) – Growth Trends and Market Forecast (2022 – 2029) https://www.fairfieldmarketresearch.com/report/patient-blood-management-market
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This press release first seen on Brilad