Leading market players are investing heavily in research and development in order to expand their product lines, which will help the patient blood management market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, patient blood management industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the patient blood management industry to benefit clients and increase the market sector. In recent years, the patient blood management industry has offered some of the most significant advantages to medicine. Major players in the patient blood management market attempting to increase market demand by investing in research and development operations include Biomérieux SA, Bio-Rad Laboratories Inc., Braun Melsungen AG, Abbott Laboratories, Danaher Corporation, Hitachi Ltd and Terumo Corporation.
Medical technology and pharmaceutical goods are developed, produced, and distributed by B. Braun Melsungen AG (B. Braun), in addition to offering medical services. Infusion solutions and consumables, infusion pumps and systems, cleaning products, nutrition and pain management, hip and knee implants, suture materials, surgical instruments, ostomy care, dialysis equipment and accessories, and wound care products are some of the company's main offerings. In the areas of anaesthesia, extracorporeal blood transfusion, intensive care, cardiology, and surgery, B. Braun offers goods and systems.In 2018, the bloodlines division of NxStage Medical, Inc. (US), which operates under the Medisystems name, was purchased by B.
Braun Melsungen AG (Ireland).
Danaher Corp. (Danaher) develops, produces, and sells goods and services for the industrial, commercial, professional, and medical industries. A wide range of testing equipment, communications solutions, water quality systems, professional microscopes, product identification solutions, automation solutions, medical diagnostic solutions, sustainable packaging design solutions, life science research tools, and sensors and controls solutions are available. The corporation runs manufacturing, sales, distribution, service, and administrative facilities across Europe, Australia, Asia, and the Americas.
June 2023: Kakao Corporation's digital healthcare division has engaged into a collaboration agreement with Dexcom to establish a global digital diabetes management service in June 2023. The agreement combines, according to a press release, Kakao Healthcare's capabilities in artificial intelligence (AI) and software technology with Dexcom's continuous glucose monitoring (CGM) devices, the Dexcom G6 and G7, for which the company is presently seeking approval from the Ministry of Food and Drug Safety.
November 2022: Eli Lilly and Company announced in November 2022 that it will launch its first connected platform, the Tempo® Personalized Diabetes Management Platform, in the United States later this year. The technology seeks to assist adults with type 1 or type 2 diabetes and clinicians in making informed, data-supported decisions regarding the management of Lilly insulin treatment. The compatible app was developed in collaboration with Welldoc® and is a private label version of BlueStar®, the company's diabetes management app, modified to receive insulin dose-related data from the Tempo Smart Button.
Healthcare providers will have access to Tempo InsightsTM, a clinician portal where they can access data shared by patients via the app and monitor patients' progress.