Artificial Blood Substitutes Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

  • Single User License $3500

Artificial Blood Substitutes Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : October, 2021 | Pharmaceutical

Report Digest


Artificial Blood Substitutes Market: Overview

The global artificial blood substitutes market is predicted to register stellar growth rate in the forthcoming years. The presence of a large patient population that requires blood transfusion during surgeries, trauma, and for other blood disorders, which remains unmet due to shortage of blood supply has necessitated creation of artificial blood substitutes.

Artificial blood substitutes are primarily used to mimic oxygen carrying capacity of biological blood and expand the blood volume in the human body. Use of artificial blood substitutes is at present considered an alternate method for blood transfusion. Further research is underway to develop more alternate methods for blood transfusion, including developing human red blood cells (RBCs) from stem cells of donor’s blood.

The research report provides an in-depth analysis of the artificial blood substitutes market over the forecast period. The report covers each and every key aspect pertinent to the market, including market dynamics, segmentation, and competitive scenario. The assessment of artificial blood substitutes market presented herein could serve as a valuable guide for both existing market participants, and the ones seeking entry in this market.

Artificial Blood Substitutes Market: Competitive Landscape and Notable Developments

The initial clinical trials for blood substitutes are recorded as early as early 1600, wherein milk, beer, urine, sheep’s blood, and perfluorochemicals were administered as blood substitutes for animal and human subjects.

In successive periods, clinical trials of milk transfusion, including goat’s milk in large quantities were carried out but in vain. Clinical trials also involved injecting human milk that were futile too, which led researchers concede human milk not to be a substitute for blood.

With continual extensive research, over long periods, scientists have attained some success to develop blood substitutes. Artificial blood thus far developed can substitute red blood cells. While biological human blood performs several different functions, artificial blood performs the sole purpose of transporting oxygen and carbon dioxide in the body.

Established biotechnology companies in the ambit are engaged to develop blood substitutes. Such pursuits primarily involve developing oxygen carriers similar or above the capacity of biological blood. With concerted efforts of some top-notch biotechnology companies, namely HEMARINA SA, KaloCyte Inc. and Hemoglobin Oxygen Therapeutics LLC blood substitutes are available as oxygen carrier based on hemoglobin and perfluorocarbon-based oxygen carrier.

Nevertheless, presence of several well-established biotechnology companies engaged in the development of blood substitutes portrays a competitive yet moderately consolidated vendor landscape of the artificial blood substitutes market.

Artificial Blood Substitutes Market: Key Trends

Worldwide, excessive blood loss due to traumatic injuries and diseases is responsible for vast number of deaths every year. Limited availability of fresh blood and small storage periods of fresh blood for such situations have necessitated development of artificial blood substitutes.

With continual experiments over long periods, scientists have thus far been able to create substitutes to mimic oxygen carrier capacity of biological blood. Development of perfluorochemical-based oxygen carrier and hemoglobin-based oxygen carrier and provide thrust to the artificial blood substitutes market.

Besides this, advent of stem cell therapy is poised to create new opportunities for demand of artificial blood substitutes.

However, on the downside, lower shelf life of artificial blood products and stringent regulatory approval process for these products restrain the growth of artificial blood substitutes market.

Artificial Blood Substitutes Market: Regional Outlook

North America is at the fore for demand within overall artificial blood substitutes market. Presence of advanced healthcare combined with awareness of individuals for alternate demonstrated therapies account for leading revenue share of the region.

Continual advances in stem cell therapy further indicates sustained growth of artificial blood substitutes market in the region.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?