Artificial Blood Cells Market
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)
|Artificial Blood Cells Market Forecast Year:||2022 - 2028|
|Artificial Blood Cells Market Historical Year:||2016 - 2021|
|Artificial Blood Cells Market 2021:||USD12.2 Million|
|Artificial Blood Cells Projected Market 2028:||USD 31.1 Million|
|Artificial Blood Cells Market CAGR:||21.2%|
|Fastest Growing Region:||Asia Pacific|
|Largest Region:||North America|
Global Artificial Blood Cells Market is valued at USD12.2 Million in 2021 and is projected to attain a value of USD 31.1 Million by 2028 at a Compound Annual Growth Rate (CAGR) of 21.2% during the forecast period, 2022–2028. Artificial Blood Cells is a type of synthetic blood that is predicted to open up a new vista in transfusion medicine. These products are used to replace red blood cells and perform a few critical activities of biological blood, the most important of which is to carry oxygen and carbon dioxide between body cells. Chemical isolation or recombinant biochemical technologies can be used to make them. The commercialization of Artificial Blood Cells is still delayed, despite the fact that several devices are in advanced phases of clinical studies. The safety, compatibility, and effectiveness of Artificial Blood Cells are the main problems that marketers are addressing.
COVID-19 Impact Analysis:
During the early stages of the epidemic, there were no specific diagnostic tests available to detect COVID-19 in patients. Alternative diagnostic tests were tried at first, but these were useless. Diagnostic businesses saw an opportunity to market their COVID-19 diagnostic kits because specialist COVID-19 diagnostic tests were lacking. A number of major companies, as well as several start-ups from other countries, have introduced COVID-19 diagnostics kits to the local and global market. By leveraging on the need for COVID-19 diagnostic tests, these companies obtained an advantage over other diagnostics companies.
Rising Number of Surgical Procedures to Stimulate Growth of the Artificial Blood Cells Market
During the forecast period, the worldwide Artificial Blood Cells market is likely to develop due to increased operations. Increased demand is due to factors such as increased demand for blood transfusions, dwindling blood supplies in blood banks, and increased haemorrhagic shock cases. According to the American National Red Cross, just approximately 3% of those in the United States who are age-eligible donate blood each year. As a result, the blood supply-demand gap grows. Despite the fact that over 6.8 million people donate blood in the United States each year, there will be about 1.8 additional cancer cases in 2020.
High Production Cost
The expensive cost of Artificial Blood Cells manufacture, as well as the strict standards imposed by regulatory authorities for the approval of blood substitute products, may stifle the market's growth. Furthermore, rising awareness of the benefits of artificial blood and rising demand for Artificial Blood Cells, combined with a shortage of blood donors and an increase in Artificial Blood Cells research and development, would generate enormous prospects for the worldwide artificial blood alternatives industry. The global Artificial Blood Cells substitutes market will face significant challenges due to the lack of artificial blood products, lengthy clinical studies, and adverse effects connected with Artificial Blood Cells.
Global Artificial Blood Cells Market is segmented by type Hemoglobin-Based Oxygen Carriers and Perfluorocarbon Emulsion. On the basis of Source, the market is segregated into Animal Hemoglobin, Human Hemoglobin, Synthetic Polymer, Stem Cell, And Others. On the basis of application, the market is fragmented into Cardiovascular Diseases, Anemia, Organ Transplant, Trauma, And Others. On the basis of distribution channel, the market is categorized Into Hospitals, Clinics, Blood Banks, And Others. Based on region, the Artificial Blood Cells market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
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North America to Continue Dominating the Artificial Blood Cells Market
The penetration rate of Artificial Blood Cells in North America is higher than many other industrialized countries due to the fact that, besides promoting healthcare reform and delivering quality care, it also benefits caregivers and their patients. During the projection period, North America is expected to have the biggest global Artificial Blood Cells market share. Artificial Blood Cells demand and supply, research and development, and increased investment are all key contributors.
Europe is likely to hold a significant portion of the market. This is owing to rising awareness, government initiatives, and enhanced healthcare infrastructure, all of which are projected to propel the market in the region forward.
Artificial Blood Cells Market Key Players:
Green Cross Corporation, North Field Laboratories, Alliance, Pharmaceutical Corporation, Baxter, FLUORO2 Therapeutics, Biopure Corporation, Alpha Therapeutics
Artificial Blood Cells Market is segmented as follows:
Artificial Blood Cells Market is tabulated as below:
Market Size Provided for Years
Region & Counties Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Questions
the global demand for Artificial Blood Cells
in terms of revenue?
The global Artificial Blood Cells valued at USD12.2 Million in 2020 and is expected to reach USD 31.1 Million in 2028 growing at a CAGR of 21.2%
are the prominent players
in the market?
The prominent players in the market are Green Cross Corporation, North Field Laboratories, Alliance, Pharmaceutical Corporation, Baxter, FLUORO2 Therapeutics, Biopure Corporation, Alpha Therapeutics.
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 21.2% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Artificial Blood Cells include
- Rising Number of Surgical Procedures to Stimulate Growth
region accounted for the
largest share in the market?
North America was the leading regional segment of the Artificial Blood Cells in 2020.