- Hemoglobin-Based Oxygen Carriers
- Perflurocarbon-Based Products
- Recombinant Factors
- Synthetic Platelets
- Plasma Expanders
Artificial Blood Market size was valued at USD 3161.3 million in 2022 and is poised to grow at a CAGR of 11.9% from 2023-2029. Artificial blood or synthetic blood and blood products are the alternatives to blood transfusion to replace the blood. It fulfills and replicates the normal functions of the body. Artificial blood is infused in traumatic injuries and other disease conditions for the transportation of carbon dioxide and oxygen across the body. Moreover, scientists are focusing on the development of artificial blood due to an inadequate number of blood donors leads to a shortage of blood. However, there are adverse effects associated with artificial blood such as hemoglobin-based blood substitutes might increase the occurrence of heart attacks. Artificial blood is mostly utilized in the treatment of trauma patients, therefore an increase in the number of people suffering from heart and renal diseases is expected to drive market growth over the forecast period. Conventional blood transfusion methods are frequently impractical to provide in battlefield circumstances. Artificial blood, which is a simple technique to manage blood supply in an effective and time-saving manner, might assist medical care in the armed forces in that event. All of these factors are contributing to the global growth of the artificial blood market.
In April 2017, Plasticell collaborated with Kings College London to progress the preclinical trials of artificial blood platelet products, prepared from pluripotent stem cells
Fastest Growing Market
Drivers: Increase in the prevalence of anemia and traumatic injuries, Rise in R&D for the innovation of newer products, Growing number of surgeries combined with decrease in number of blood donors. Restraints: Lower shelf-life and instability of artificial blood, Adverse effects associated with artificial blood substitutes, Stringent regulatory guidelines for product approval.
The artificial blood market is projected to expand at a CAGR of 11.9% during the forecast period
Alpha Therapeutic Corp, FluorO2 Therapeutics, Plasticell Limited
North America is the fastest-growing region for the artificial blood market