Artificial Blood Cells Market is Expected to Grow with a CAGR of 21.2% from 2022 to 2028
The Global Artificial Blood Cells market accounted for USD12.2 Million in 2021.
Artificial blood is a product made to act as a substitute for red blood cells. While true blood serves many different functions, artificial blood is designed for the sole purpose of transporting oxygen and carbon dioxide throughout the body. Depending on the type of artificial blood, it can be produced in different ways using synthetic production, chemical isolation, or recombinant biochemical technology.
The benefits of artificial blood are: it provides critical advantages against allogeneic blood transfusions by providing grown capacity for oxygen-carrying, saves time in battlefield scenarios and trauma cases, when compared to regular blood it has higher life, minor circumstances of the spreading of the disease, and ability to build larger blood quantities. In the market, Artificial blood is available in terms of perfluorocarbon emulsions and hemoglobin-based oxygen carriers.
Hemoglobin-based oxygen carriers to hold a significant share in the artificial blood market globally during the coming years due to its broad product portfolio by major market players when compared with the perfluorocarbon emulsions, major market players are investing in the growth of hemoglobin-based oxygen carriers which are the advanced majority of them are in clinical trials.
Rise in transfusable blood stocks shortage, trauma death owing to shortage of availability of blood when operations are going on, and rise in a number of deaths through hemorrhagic shock (a form of hypovolemic shock where severe blood loss results in insufficient oxygen delivery at the cellular level) are fueling the artificial blood market globally during the coming years. Major factors hampering the artificial blood market globally are lack of awareness, expansive, and harmful side effects related to artificial blood usage.
North America accounted for the largest share of the market for artificial blood cells. This can be owing to the increase in trauma deaths owing to excessive loss of blood prior to the admission, rise in the occurrence of blood-related disorders and anemia across the region, leading to the growth of artificial blood. Furthermore, Europe is likely to rise at a higher CAGR in the coming years due to the increase in investment in Research & Development by government associations in biotechnological startups for the growth of novel artificial blood.
Some of the prominent players operating in the global artificial blood cells market are - Green Cross Corporation, North Field Laboratories, Alliance, Pharmaceutical Corporation, Baxter, FLUORO2 Therapeutics, Biopure Corporation, Alpha Therapeutics.
Browse the full Report - Artificial Blood Cells Market by Type (Hemoglobin-Based Oxygen Carriers, Perfluorocarbon Emulsion), by Source (Animal Hemoglobin, Human Hemoglobin, Synthetic Polymer, Stem Cell), by Application (Cardiovascular Diseases, Anemia, Organ Transplant, Injuries), by Distribution Channel (Hospitals, Clinics, Blood Banks, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)