Global Artificial Blood Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, And Growth Forecast To 2029

                                          
Global Artificial Blood Market 2021: By Type (Human Blood, Synthetic Blood, Animal Blood), By Application (Hemoglobin-Based Oxygen Carriers (HBOCs), Perflurocarbon Emulsions (PFCEs)

Global Artificial Blood Market is the title of an upcoming market research report at Trusted Business Insights. The market has been studied in depth to present vital data and information, including revenue shares of each segment, region, and country, revenue growth driving factors, and restraints. In addition, potential revenue opportunities in untapped regions and economies are included. Key players and their details are presented in the company profile section of the report. The section comprises revenue details and financial information, recent developments, strategies, acquisitions & mergers, and geographic reach as well as footprint. 

The Global Artificial Blood market size was valued at USD $4.57 Billion in 2020, USD $5.56 Billion in 2021, forecasted to reach  USD $6.77 Billion in 2022, and is projected to reach USD $33.46 Billion by 2030, and is anticipated to expand at a CAGR of 21.65% over the forecast period from 2020 to 2030.

Overview

Artificial blood is a substitute substance that is used to mimic and fulfill some functions of biological blood. It aims to provide an alternative to blood transfusion. Artificial blood substitutes are produced through chemical procedures with the use of recombinant biochemical technology.

Recent studies across various parts across the globe, have found out that the Hemoglobin-based artificial blood substitutes are the most popular type in the market. These are most sought after oxygen carriers and many key players focusing on increasing the production of these substitutes to expand their market.

Dynamics

The increasing demand for blood with the rise in the number of surgeries as well as the risks associated with blood transfusions such as HIV/AIDS, blood loss, etc. are major factors contributing to the growth of the global artificial blood market. Growing incidences of intraoperative complications and anemia arising from illnesses such as kidney diseases and cancer are other factors leading to an increase in the demand for artificial blood substitutes. As cases of cancer, cardiovascular conditions and other health conditions are escalating, the need for blood donors is gaining traction. However, factors such as a shortage of blood donors as well as the transmission of diseases during surgical procedures are fueling this markets growth.

Manufacturers are investing in product innovations and improvements of artificial blood substitute properties to increase their consumer bases. For example, manufacturers are developing better oxygen carrier mechanisms in blood substitutes to ensure that the final product is delivered without any side effects. The developers are also making sure that the chances of a patient suffering from neurological damages are reduced after the use of these blood substitutes.

Furthermore, other product variants that are used along with diagnostic procedures to treat strokes such as ischemic stroke are available. Constant improvement in blood substitute properties to cater to diagnostic needs in the healthcare sector is contributing to market revenue growth. Efforts are also being made to enable the development of artificial blood with increased oxygen-carrying capacity by utilizing the support of protein-engineering strategies.

Segment Analysis

By Product Type: Among the product type segments, the Hemoglobin-based Oxygen Carrier (HBOC) segment is expected to account for the majority revenue share over the next 10 years.

Global Artificial Blood Market Regional Analysis:

The market in North America is expected to account for the highest revenue share over the foreseeable future. The markets in the US, Mexico and Canada, are major revenue contributors to the artificial blood market in the region. Increasing spending on healthcare research & development activities, primarily in countries such as the US and Canada, are factors supporting market growth in the region. The demand for artificial blood substitutes is being extended to applications in the military sector of the US as well, especially during critical operations. In addition, the rising prevalence of cardiovascular diseases (CVD) and cancer in Mexico are also contributing to market growth in the region.

Below are the leading companies profiled in this Artificial Blood Market Report:

  
Alpha Therapeutic Corporation
  
Aurum Biosciences
  
Baxter International
  
BioPure Corporation
  
Boston Therapeutics Inc.
  
Dentritech
  
Dextro-Sang Corporation
  
European Medicines Agency
  
FluorO2 Therapeutics
  
HEMARINA
  
HemoBioTech
  
Hemoglobin Oxygen Therapeutics LLC
  
KaloCyte Inc.
  
NanoBlood LLC
  
Northfield Laboratories
  
Nuvox Pharma
  
OPK Biotech LLC
  
OXYVITA Inc
  
Prolong Pharmaceuticals
  
Sangart

Global Artificial Blood Market Segmentation:

By Type

  
Human Blood
  
Synthetic Blood
  
Animal Blood

By Application

  
Hemoglobin-Based Oxygen Carriers (HBOCs)
  
Perflurocarbon Emulsions (PFCEs)
This research comprehensively answers the following 9 important questions:

  
Q.1. What are some of the most promising growth trends in the Artificial Blood market worldwide?
  
Q.2.Which segments and sub-segments will grow at a faster pace and why? Which segment is nearing the peak and demand saturation?
  
Q.3.Which region will witness a higher growth rate and why? Which region might see a slower or negative growth region?
  
Q.4.What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in Artificial Blood market?
  
Q.5.What are the business risks and who pose challenges to the global leaders and are competitive threats in this Artificial Blood market?
  
Q.6.What are the emerging trends post COVID-19 reshuffle in this Artificial Blood market and the what are reasons behind these trends and do they translate in global exploration?
  
Q.7. Who are the major global and regional players in the Artificial Blood market? Which are the strategic initiatives key players are pursuing for business growth?
  
Q.8.Which are the competing products in Artificial Blood market and how big of a threat do they pose for loss of market share by material or product substitution?
  
Q.9.What M & A activity has occurred in the last 5 years and what is its impact on the Artificial Blood industry?