Artificial
Blood Substitutes Market Industry Analysis, Growth, Trends and Forecast - 2031

The
global artificial blood substitutes market is expected to grow at a significant
CAGR during the forecast period (2024-2031). The global artificial blood
substitutes market is driven by the limited availability of fresh blood and its
short life span, as well as rising demand for blood transfusions and increased
financing for the development of blood substitutes. Oxygen therapies or
haemoglobin-based oxygen carriers are other names for artificial blood
substitutes. It's utilized to replace blood transfusions by simulating the
function of biological blood. Artificial blood is used to replace banked red
blood cell transfusions and is designed to solve restrictions such as a lack of
blood, a high risk of contamination, and the need for cross-matching. Allogenic
blood transfusions have several dangers, including the transmission of
infectious diseases, transfusion responses, transfusion-related acute lung
injury, delayed postoperative wound healing, immunomodulation, and the chance
of cancer recurrence. It holds out the prospect of novel and life-saving
medicinal treatments.

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Animal
blood, human blood, microbes, recombinant Hb, stem cells, and other sources are
used to create artificial blood. Artificial blood has various advantages over
human blood, including the fact that it belongs to a universal blood group and
can be given to patients of any blood type. Artificial blood substitutes also
have no immunological side effects. Furthermore, artificial blood substitutes
reduce the possibility of infectious diseases or contamination during
transfusion and have a longer shelf life than human blood, as it may be stored
for up to three years at room temperature, whereas human blood only has a
42-day shelf life. Artificial blood may be utilised in an emergency and is
easily kept. It is also a great choice for people who refuse to receive blood
from donors due to religious views. Furthermore, rising awareness of the
benefits of artificial blood and rising demand for artificial blood, combined
with a shortage of blood donors and an increase in artificial blood research
and development, would generate enormous opportunities for the global
artificial blood substitutes market.

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Market
Coverage

• Segment Covered


• Regions Covered- Globally

Competitive
Landscape: GlaxoSmithKline (GSK), Merck & Co., Aurobindo Pharma Ltd., Takeda
Pharmaceutical Co. Ltd., among others. 

Key
questions addressed by the report

• What is the market growth
  rate?


• Which segment and region
  dominates the market in base year?


• Which segment and region
  will project fastest growth in the market?


• How COVID-19 impacted the
  market?

o             Recovery Timeline

o             Deviation from pre-COVID forecast

o             Most affected region and segment

• Who is the leader in the
  market?


• How players are addressing
  challenges to sustain growth?


• Where is the investment
  opportunity?

Global
Artificial Blood Substitutes Market by Segment

By
Product Type 

•                
Perfluorocarbon (PFCs) 

•                
Haemoglobin-Based Oxygen Carriers (HBOCs)

By
Source

•                
Human Blood

•                
Animal Blood

•                
Microorganism Based Recombinant HB

•                
Synthetic Polymers and Stem Cells

By
Application 

•                
Cardiovascular Diseases

•                
Malignant Neoplasma

•                
Injuries

•                
Neonatal Conditions

•                
Organ Transplant 

•                
Maternal Condition

By
End-User 

•                
Hospital & Clinics

•                
Blood Banks 

•                
Others

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