Artificial Blood Market Overview :
Global Artificial Blood Market is estimated to reach $10.73 billion by 2025; growing at a CAGR of 20.3% from 2017 to 2025. Artificial blood, also known as synthetic blood substitute or blood surrogate is a substance used as a replacement to biological blood. It is intended to offer an alternate to blood transfusion, transfer of blood or blood-based products from one to another individual. By use of artificial blood, it can be possible for doctors and surgeons to sidestep the risk of disease transmission and immune suppression and address the chronic blood donor shortage. Main aim of artificial blood use is transportation of oxygen and carbon dioxide across the body. In every year, thousands of people die due to blood loss during traumatic injuries & diseases. The increasing need of an alternate to overcome blood supply shortage & increased awareness and incidence of transfusion transmitted diseases led to the discovery of artificial blood substitutes.
Key factors driving the growth of the global artificial blood market include need for an alternate to overcome blood supply shortage, lack of blood donors, growing demand for blood transfusion in cases like blood loss during surgeries, anemia, and trauma, and anemia, growing occurrence of disease looking for medical surgeries, and military wars & trauma cases. On the flip side, uncertainty & lower shelf life of artificial blood products and strict regulatory approval process may hamper the growth of the artificial blood market. Moreover, arrival of stem cell therapy would create new opportunities for players in this market.
The artificial blood market has been categorized on the basis of source, type, product, and geography. Source includes human blood, synthetic blood, and animal blood. By type, market is categorized into hemoglobin-based oxygen carriers (HBOCs), and perflurocarbon emulsions (PFCEs). Product includes hemospan, hemopure, polyheme, hemolink, hemotech, oxycyte, hemoassist, VIDAPHOR, PHER-O2, DDFPe, and sanguinate.
Global artificial blood market, on the basis of geography is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key players operating in the market are Dextro-Sang Corporation, BioPure Corporation, Sangart, Inc., Northfield Laboratories, Baxter International, Dentritech, Inc., FluorO2 Therapeutics, Inc., Nuvox Pharma Llc, Alpha Therapeutic Corporation, and HemoBioTech, Inc., among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Artificial Blood Market with respect to major segments such as source, type, and product
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Artificial Blood Market has been included in the report
- Profile of the key players in the Global Artificial Blood Market will be provided, which include key financials, product & Synthetic Platelets, new developments and business strategies
Scope of the Global Artificial Blood Market
- Human Blood
- Synthetic Blood
- Animal Blood
- Hemoglobin-Based Oxygen Carriers (HBOCs)
- Perflurocarbon Emulsions (PFCEs)
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East