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Artificial Blood Substitutes Market to Exhibit a Striking Growth of USD 24.08 Billion by 2029, Future Developments, Opportunities, Trends, Revenue Growth and Demand Outlook

Data Bridge Market Research
Data Bridge Market Research

Animal blood, human blood, microorganisms, recombinant Hb, stem cells, and other sources are used to create artificial blood.

NEW YORK, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Data Bridge Market research has a newly released expansive study titled “Artificial Blood Substitutes Market which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and success in the market. The Artificial Blood Substitutes study provides an overview of the market's definition, as well as its classifications and trends, in addition to providing information on recent developments, product launches, joint ventures, mergers, and acquisitions that have been carried out by various key players and brands. It gives businesses a helping hand in taking decisive action to deal with challenges in niche markets. This paper on market research also includes in-depth information on specific markets or clients that are being targeted. The Artificial Blood Substitutes market report is a tried-and-true strategy that companies can implement to achieve success in today's rapidly shifting competitive environment. Companies need to invest in a market research report service if they want to experience exceptional business growth in today's marketplace, where such services have become increasingly important.

Data Bridge Market Research analyses that the artificial blood substitutes market which was USD 5.6 billion in 2021, is expected to reach USD 24.08 billion by 2029, at a CAGR of 20% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Market Summary:

Oxygen therapeutics or hemoglobin-based oxygen carriers are other terms for artificial blood substitutes. It is used to simulate the function of biological blood and to provide an alternative to blood transfusion. Artificial blood is used to replace transfusions of banked red blood cells and is designed to overcome limitations such as a lack of blood sonor, high risk of contamination, and the need for cross-matching. Allogenic blood transfusions carry a number of risks, including the transmission of infectious disease, transfusion reactions, transfusion-related acute lung injury, delayed postoperative wound healing, immunomodulation, and the risk of cancer recurrence. It holds the promise of a novel, life-saving medical treatments.

Artificial blood is used for restoring oxygen delivery after loss of blood from trauma, especially in emergency and battlefield situations, preventing the need for blood transfusions during surgery. It is a substitute blood product that can perform blood's most important function, which is the transport of oxygen and carbon dioxide. Artificial blood could be a life-saving measure, particularly in times of severe blood loss during large disasters; however, the products currently in development are incapable of performing secondary functions of blood, such as fighting infections

Opportunities

  • A growing number of surgical procedures

A growing number of surgical procedures necessitate the use of artificial blood substitutes in place of donated human blood plasma or red cells.  Increased funding for research on artificial blood substitutes by government and private organisations, which is likely to result in innovations and new product launches. For instance, In April 2019, Hemoglobin Oxygen Therapeutics LLC announced the publication of its preclinical data which demonstrated that the Hempure could replace packed red blood cells (RBCs) in normothermic kidney perfusion (NMP). This announcement helped the company in gaining significant interest in the organ transplantation field.

The Global Research Report Provides a Detailed Analysis of Market. Based on Competitive Intensity and How the Competition Will Take Shape in Coming Years.

The Global Artificial Blood Substitutes Market is witnessing a tremendous growth owing to the rapidly rising demands, a surge in industrialization, consumer awareness, emerging industries, and technological advancements. The industry has reported exponential revenue growth and sales volume. Factors driving the growth of the market are anticipated to boost the market size and boost the growth of the market throughout the forecast period.

The leading companies of the Artificial Blood Substitutes Industry are engaging in various developmental activities such as product developments, extensive product research, innovations, and advancements in product processes to re-launch updated products in the market to gain substantial customer base and market size. The report consists of all the business strategies adopted by the companies along with their financial standing, revenue, gross margin, and growth rate.

Some of the major players operating in the Artificial Blood Substitutes market are

  • Aurum Biosciences (U.K.)

  • HEMARINA (France)

  • Hemoglobin Oxygen Therapeutics LLC (U.S.)

  • KaloCyte Inc. (U.S.)

  • SpheriTech Ltd. (U.K.)

  • Centrum Medyczne VisusMed (Poland)

  • European Medicines Agency (Netherlands)

  • OPK Biotech Inc. (U.S.)

  • NuvOx Pharma (U.S.)

  • Prolong Pharmaceuticals, LLC

  • Boston Pharmaceuticals (U.S.)

  • OXYVITA Inc (U.S.)

  • NanoBlood LLC (U.S.)

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Recent Development

  • In November 2020, Hemarina published a scientific report on the anti-inflammatory and antibacterial properties of M 101, an oxygen transporter for the treatment of periodontitis. This study validated the quality of M 101 molecolue, which is derived from marine lugworm haemoglobin.


  • In June 2020, KaloCyte, Inc. received a USD 300,000 grant from the University System of Maryland (USM) Momentum Fund to develop ErythroMer, a synthetic, bio-inspired red blood substitute. This funding has enabled the company to accelerate the development of the ErythroMer.

  • In May 2020, KaloCyte, Inc. was awarded a USD 373,000 Small Business Innovation Research (SBIR) Phase I grant by the National Institutes of Health (NIH). This grant assisted the company in advancing the KaloCyte product to preclinical safety and efficacy testing in preparation for market launch.

Core Objective of Artificial Blood Substitutes Market:

Every firm in the Artificial Blood Substitutes market has objectives but this market research report focus on the crucial objectives, so you can analysis about competition, future market, new products, and informative data that can raise your sales volume exponentially.

  • Size of the Artificial Blood Substitutes market and growth rate factors.

  • Important changes in the future Artificial Blood Substitutes Market.

  • Top worldwide competitors of the Market.

  • Scope and product outlook of Artificial Blood Substitutes Market.

  • Developing regions with potential growth in the future.

  • Tough Challenges and risk faced in Market.

  • Global Artificial Blood Substitutes top manufacturers profile and sales statistics.

Segmentation Covered: Artificial Blood Substitutes Market

By Product Type

  • Perflurocarbon (PFCs)

  • Hemoglobin-Based Oxygen Carries (HBOCs)

  • Oxyglobin

  • Hemopure

By Source

  • Human Blood

  • Animal Blood

  • Microorganism Based Recombinant HB

  • Synthetic Polymers and Stem Cells

By Application

  • Cardiovascular Diseases

  • Malignant Neoplasma

  • Injuries

  • Neonatal Conditions

  • Organ Transplant and Maternal Condition

By End User

  • Hospital and Clinics

  • Blood Banks

Browse Detailed Summary of Research Report @ https://www.databridgemarketresearch.com/reports/global-artificial-blood-substitutes-market

Artificial Blood Substitutes Market Regional Analysis/Insights:

The countries covered in the artificial blood substitutes market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the artificial blood substitutes market owing to factors such as a rise in cases of road accidents, increasing prevalence of chronic diseases, and an increase in surgeries due to medical conditions.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to factors such as a rise in diabetes cases coupled with an increase in surgeries related to eye operations resulting from blindness caused by diabetes retinopathy which are major applications for HBOCs used across this region.

Key Market Drivers:

  • Rising usage of artificial blood substitutes

Animal blood, human blood, microorganisms, recombinant Hb, stem cells, and other sources are used to create artificial blood. Artificial blood has several advantages over human blood because it belongs to a universal blood group and can be administered to patients regardless of blood type. Artificial blood substitutes also do not cause any immunological reactions. Furthermore, artificial blood substitute eliminates the risk of infectious diseases or contamination during transfusion and has a longer shelf life than human blood, as it can be stored for 3 years at room temperature or more, whereas human blood has a 42-day shelf life. Artificial blood can be used in emergency situations and is easily stored. It is also an excellent option for the patients who doesn’t accept blood from donors due to their religious beliefs. These all are the certain factors which propel the growth of the market.

  • Rising awareness of the benefits of artificial blood

Rising awareness of the benefits of artificial blood and rising demand for artificial blood, combined with an insufficient number of blood donors is bolstering the market growth. When blood substitutes are manufactured, bacteria and viruses can be destroyed. This reduces the risk of infectious diseases in blood transfusions, which is a major problem in many parts of Sub-Saharan Africa. An increase in research and development on artificial blood is boosting the global artificial blood substitutes market.

Benefits of Considering this report:

  • This artificial blood report is compiled using a vigorous and thorough research methodology. Data Bridge Market Research is also known for its data accuracy and granular market reports.

  • A complete picture of the competitive scenario of Artificial Blood Substitutes market is depicted by this report.

  • The report consists of a vast amount of data about the recent product and technological developments in the markets.

  • The extensive spectrum of analysis regarding the impact of these advancements on the future of market growth.

  • The insights in the report are easy to understand and include a graphical representation of the numbers in the form of histograms, bar graphs, pie charts, etc.

  • Components such as market drivers, restraints, challenges, and opportunities for Artificial Blood Substitutes market are explained in detail.

  • It also provides a complete assessment of the expected behavior about the future market and changing market scenario.

  • Making an informed business decision is a tough job; this report offers several strategic business methodologies to support you in making those decisions.

Table of Contents:

  1. Introduction

  2. Market Segmentation

  3. Executive Summary

  4. Premium Insights

  5. Global Artificial Blood Substitutes Market: Regulations

  6. Market Overview

  7. Global Artificial Blood Substitutes Market, By Product Type

  8. Global Artificial Blood Substitutes Market, By Source

  9. Global Artificial Blood Substitutes Market, By Application

  10. Global Artificial Blood Substitutes Market, By End User

  11. Global Artificial Blood Substitutes Market, By Region

  12. Global Artificial Blood Substitutes Market: Company Landscape

  13. SWOT Analyses

  14. Company Profile

  15. Questionnaires

  16. Related Reports

For More Insights Grab Full TOC @ https://www.databridgemarketresearch.com/toc/?dbmr=global-artificial-blood-substitutes-market

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Asia-Pacific Artificial Blood Substitutes Market, By Product Type (Perflurocarbon (PFCs) and Hemoglobin-Based Oxygen Carries (HBOCs)), Source (Human Blood, Animal Blood, Microorganism Based Recombinant HB, Synthetic Polymers and Stem Cells), Application (Cardiovascular Diseases, Malignant Neoplasma, Injuries, Neonatal Conditions, Organ Transplant and Maternal Condition), End User (Hospital & Clinics, Blood Banks and Others), Country (U.S., Mexico, France, Russia, Netherlands, Rest of Europe, China, Rest of Asia-Pacific, South Africa, and Rest of Middle East and Africa) https://www.databridgemarketresearch.com/reports/asia-pacific-artificial-blood-substitutes-market

North America Artificial Blood Substitutes Market, By Product Type (Perflurocarbon (PFCs) and Hemoglobin-Based Oxygen Carries (HBOCs)), Source (Human Blood, Animal Blood, Microorganism Based Recombinant HB, Synthetic Polymers and Stem Cells), Application (Cardiovascular Diseases, Malignant Neoplasma, Injuries, Neonatal Conditions, Organ Transplant and Maternal Condition), End User (Hospital & Clinics, Blood Banks and Others), Country (U.S., Mexico) https://www.databridgemarketresearch.com/reports/north-america-artificial-blood-substitutes-market

Europe Artificial Blood Substitutes Market, By Product Type (Perflurocarbon (PFCs) and Hemoglobin-Based Oxygen Carries (HBOCs)), Source (Human Blood, Animal Blood, Microorganism Based Recombinant HB, Synthetic Polymers and Stem Cells), Application (Cardiovascular Diseases, Malignant Neoplasma, Injuries, Neonatal Conditions, Organ Transplant and Maternal Condition), End User (Hospital & Clinics, Blood Banks and Others), Country (France, Russia, Netherlands, Rest of Europe) https://www.databridgemarketresearch.com/reports/europe-artificial-blood-substitutes-market

Middle East & Africa Artificial Blood Substitutes Market, By Product Type (Perflurocarbon (PFCs) and Hemoglobin-Based Oxygen Carries (HBOCs)), Source (Human Blood, Animal Blood, Microorganism Based Recombinant HB, Synthetic Polymers and Stem Cells), Application (Cardiovascular Diseases, Malignant Neoplasma, Injuries, Neonatal Conditions, Organ Transplant and Maternal Condition), End User (Hospital & Clinics, Blood Banks and Others), Country (South Africa, and Rest of Middle East and Africa) https://www.databridgemarketresearch.com/reports/middle-east-and-africa-artificial-blood-substitutes-market

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