Artificial Blood Market is expected to grow at a high CAGR during the forecast period (2022-2029). Artificial blood to made acts as a substitute for red blood cells. While true blood performs different functions but artificial blood is designed to transport oxygen and carbon dioxide through the body. Based on the type of artificial blood it can be produced in different ways it includes synthetic production, chemical isolation, or recombinant biochemical technology.
For decades scientists have been trying to develop artificial blood through various sources to address the shortage of blood transfusions. The advantages of artificial blood include it provides critical benefits over allogenic blood transfusions by delivering increased oxygen-carrying capacity, saves time in trauma cases and battlefield scenarios, higher life than the regular blood, minor chances of the disease spreading, and ability to manufacture larger quantities of blood. Artificial blood is available in the market in terms of hemoglobin-based oxygen carriers and perfluorocarbon emulsions.
Perfluorocarbon emulsions are based on inert components which replace hydrogen and fluorine. Hemoglobin-based oxygen carriers consist of hemoglobin-derived products sourced from human blood, bovine blood, microorganisms, and transgenic animals.
Increase in shortage of transfusable blood stocks, trauma death due to lack of availability of blood during operations, and increase in a number of deaths by hemorrhagic shock ( it is a form of hypovolemic shock in which severe blood loss leads to inadequate oxygen delivery at the cellular level) globally are driving the global artificial blood market during the forecast period.
As per the 2011 analysis from the national blood collection and utilization survey, the US could see a shortfall of around 4 million units of blood annually by 2030.
According to the National center for biotechnology information in 2019, estimated that annual incidence of the shock of any etiology is 0.3- 0.7 per 1000 cases with hemorrhagic shock being the most common in the intensive care unit.
Major factors hindering the global artificial blood market during the forecast period are expansive, lack of awareness, and adverse side effects associated with the usage of artificial blood.
The global artificial blood market is segmented by product type, source, application, and distribution channel. By product, type includes hemoglobin-based oxygen carriers and perfluorocarbon emulsion, and by source includes human hemoglobin, animal hemoglobin, stem cells, synthetic polymers, and others.
The application type includes anemia, organ transplant, injuries, cardiovascular diseases, maternal conditions, and others, and by distribution channel includes hospitals, clinics, and blood banks.
Hemoglobin-based oxygen carriers dominate the global artificial blood market during the forecast period owing to its extended product portfolio by key players compared with the perfluorocarbon emulsions, key players investing in the development of advanced hemoglobin-based oxygen carriers majority of them are in clinical trials.
The global artificial blood market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
North America dominates the global artificial blood market during the forecast period owing to the rise in trauma deaths due to excessive blood loss prior to the admission, increase in the prevalence of anemia and blood-related disorders across the region, and leading to the development of novel artificial blood.
Europe is expected to grow at a higher CAGR during the forecast period owing to the rise in R&D investment by government organizations in biotechnological startups for the development of novel artificial blood.
According to Health 24 in 2016, more than 20,000 trauma deaths in the united states occur due to the blood prior to arriving at the treatment center.
In December 2017, UK life science company SpheriTech has been awarded 113k by Innovate UK to develop SpheriSome Hb( artificial blood) which could revolutionize the treatment of trauma patients.
Funding from government organizations for the development of novel technologies in artificial blood, new product launches, and strategic collaboration for the manufacturing of artificial blood driving the global artificial blood market during the forecast period.
In February 2019, Seattle Based medical technology company Healionics raised 3.8 million in funding to support the development of an artificial blood vessel called STARgraft for patients who undergo dialysis treatment.
In November 2018, Hemarina and Delpharm made a strategic collaboration for the manufacturing of HEMO2life®, an additive for organ transplantation solutions. According to the deal, the manufacturing is to be conducted at Delpharm’s industrial plant in Tours(center-west of France).
Major market players in the artificial blood market are FLUORO2 Therapeutics, Kalocyte, Hemarina, North Field Laboratories, Biopure Corp, Sangart Corporation, Baxter, Green Cross Corp., Alliance Pharmaceutical Corporation, Alpha Therapeutic Corp., and others.
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