Artificial Blood Substitutes market worth $5,204 million by 2022

Artificial Blood Substitutes market worth $5,204 million by 2022

The report Artificial Blood Substitutes Market – Patent landscape report, by source (human blood, animal blood, microorganism based recombinant Hb, synthetic polymers, stem cells) product type (PFCs, HBOCs), by application (Cardiovascular diseases, Malignant neoplasms, Injuries, Neonatal Conditions, Organ transplants, Maternal condition) by Patent Activities (patent categories and classification, active players, patent landscape analysis) – Global Forecast, 2022. The Artificial Blood Substitutes Market is estimated to reach $5,204 million by 2022 and is expected to grow by a CAGR of 27.8 percent to assume a value of $17,775 million by 2027.

In this report the global Artificial Blood Substitutes market categorized into segments, first based on sources from which blood substitutes are derived, second product features, third application segments. This report delves deep into market and patent analysis for each segment along with their market growth, active players and the market drivers expected to promote production and consumption of Artificial Blood Substitute in artificial blood products market.

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Injuries segment will be the biggest contributor at $1,993 million to artificial blood substitutes market in 2022.

With continued research to incorporate enzymes in modified Hb to avoid reperfusion damage, artificial blood products may be less likely to cause reperfusion injuries than the use of red blood cells. Blood substitutes can play a useful role in the initial management of emergency cases. However, malignant neoplasm application segment of artificial blood substitute market is expected to occupy 38 percent of market share in 2027 which will be the highest among all application segments owing to the availability of substitutes with advanced healing features by 2027. Several companies have claimed that, there are six potential applications markets that have been identified based on the possibility of replacing donor blood in critical medical treatments..

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Approximately 36,000 units of RBCs are needed every day in the U.S. North American artificial blood substitutes market.

Approximately 43,000 units of blood are transfused each year in the US. Nearly 4.5 million Americans obtain blood transfusions each year for various conditions such as cardiovascular diseases and surgeries, chemotherapy treatments for cancer, trauma cases from accidents and war zones, burn and natural disaster trauma victims; newborn babies; mothers suffering postpartum hemorrhage; and organ transplant patients. On an average, 13.6 million whole blood and RBCs are collected in the U.S. in a year. North America is expected to lead in 2022 with the potential market expected to be $1,304 million. The European artificial blood market is touted to reach a value of $3,212 million by 2027.

Get your analysis on 45 market data tables and 29 figures in 138 page up to date report and detailed TOC on Artificial Blood Substitutes Market – Patent landscape report.

Top Leading players and geographic regions in the artificial blood substitutes market

Companies like Alliance Pharmaceutical Corp., Baxter Healthcare Corp., Nuvox Pharmaceuticals, Sanguine Inc., and Therapure Biopharma are some of the first movers in the artificial blood products market.

R&D interest in artificial blood products technologies has maintained at a constant pace with approximately 67 patents filed every year over the period from 1997 to 2016. Several companies like Active Molecules’ Park Competence Alliance (PAM), Kalocyte, Hemarina, Sanguine Corporation, and Tenax Therapeutics are actively developing substitutes to meet the growing need for artificial blood. Blood pharming techniques are also being actively pursued by scientists worldwide for developing human RBCs from donor blood stem cells. Terumo Corporation holds the largest patent portfolio in technology required for artificial blood development. Several biotech firms are investing resources to utilize the longevity of laboratory-grown cells. Recent focus has shifted to creating immortal stem cell lines for developing whole synthetic RBCs with 73 patents filed in this domain.

One of the critical emerging geographies from technology innovation perspective is Korea which is showing trends of active patent fillings for the period 2011 to 2016.

In this report, the geographic regions considered for market analysis exclusively include:

  • North America: United States, Mexico, Canada
  • Europe: U.K., Germany, Russia, Spain, France, Italy
  • Asia Pacific: China, India, Japan, Australia
  • Rest of the world: South Africa, Brazil

In the future, severe blood shortfalls are imminent, mass civilian casualties, such as common calamities, terrorist assaults, and wars, which require a massive and instant blood supply. Such reasons are contributing to a budding market for artificial blood substitutes.

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