Global Artificial Blood Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Artificial Blood Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Artificial Blood market finds that the global Artificial Blood market reached a value of USD 223.52 million in 2022. It’s expected that the market will achieve USD 439.0 million by 2028, exhibiting a CAGR of 11.91% during the forecast period.

Storage time

Artificial blood can be stored longer than normal blood. Thanks to the inspiration of blood transfusion, if the future replacement blood can be a product with a single functional component, it will be expected to be stored at room temperature for several years. Normal blood can only last 42 days.

Quality

Blood substitutes are stronger than regular blood, can withstand more demanding environments, such as not requiring refrigeration, and can be used in a pre-hospital environment.
Artificial blood substitutes provide higher oxygen applicability by providing higher oxygen-carrying capacity, saving time in traumatic cases and battlefield situations, reducing the risk of infection, avoiding screening and cross-matching, reducing overall costs Allogeneic blood transfusion has a key advantage in transplantation.

Increased surgery

Today there are more surgeries than in the past, the number of elective surgeries has increased, a lot of blood is needed, and an average of 6 pints is needed.

Insufficient blood donation

Increased shortages of transfusionable blood banks, traumatic deaths due to insufficient blood supply during surgery, and increased deaths due to hemorrhagic shock (this is a type of hypovolemic shock, where severe blood loss results in insufficient oxygen delivery at the cellular level) The development of the global artificial blood market during the forecast period.

Wider audience

Ordinary blood transfusions must match their blood type or O-negative universal donor, while artificial blood is suitable for everyone. Patients who cannot accept blood donors due to their religious beliefs will also benefit from blood substitutes derived from non-blood products.

Region Overview:

In global comparison, a significant portion of the revenue was generated in North America (36.48% in 2022).

Company Overview:

HbO2 Therapeutics LLC is one of the major players operating in the Artificial Blood market, holding a share of 13.86% in 2023.

HbO2 Therapeutics LLC

Hemoglobin Oxygen Therapeutics LLC (HbO2 Therapeutics) is a leading developer and manufacturer of oxygen carrying solutions, products that when administered intravenously can increase the amount of oxygen transported throughout the body. It has developed two products. Hemopure® [hemoglobin glutamer – 250 (bovine)], for use in humans, and Oxyglobin® [hemoglobin glutamer – 200 (bovine)]) for veterinary use.

Hemarina Sa.

Hemarina is a biopharmaceutical laboratory that specializes in technology platforms for developing health products based on its proprietary technology platform (M101), which is based on the hemoglobin properties of marine and marine worms.

Segmentation Overview:

By type, Hemoglobin-Based Oxygen Carriers (HBOCs) segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Human segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Artificial Blood market covered in Chapter 3:

HbO2 Therapeutics LLC
BioPure Corporation
Membio
Kalocyte Inc.
Spheritech
Hemarina Sa
Nuvox Pharma
Sanguine Corporation

In Chapter 4 and Chapter 14.2, on the basis of types, the Artificial Blood market from 2018 to 2029 is primarily split into:

Perfluorocarbon Emulsions (PFCEs)
Hemoglobin-Based Oxygen Carriers (HBOCs)
Stem cell

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Artificial Blood market from 2018 to 2029 covers:

Hospitals
Clinics
Blood banks

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)