Market Overview:
The global artificial blood substitute market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for artificial blood substitutes in military and civil applications. The perfluorocarbon-based oxygen carrier (PFBOC) segment is expected to dominate the market during the forecast period, owing to its high oxygen carrying capacity and low risk of infection. North America is expected to lead the global artificial blood substitute market during the forecast period, followed by Europe and Asia Pacific.
Product Definition:
Artificial blood substitutes (ABS) are artificial substances used to carry oxygen and nutrients to tissues and organs. ABS are used when natural blood is not available, as in the case of severe bleeding or during surgery.
Perfluorocarbon-based Oxygen Carrier (PFBOC):
Perfluorocarbon-based oxygen carrier (PFBOC) is a perfluorocarbon with an oxygen content of approximately 15%. It has been used as an artificial blood substitute in patients who cannot receive adequate blood flow from a regular donor. PFBOC is also being studied for use as a non-invasive ventilation solution for severely ill patients, which could help increase the success rate of respiratory therapies.
Hemoglobin-based Oxygen Carrier (HBOC):
The global heme-based oxygen carrier (HBOC) and it's usage in artificial blood substitute market size was valued at USD 6.5 billion in 2015 and is expected to grow at a CAGR of XX% over the forecast period. The increasing prevalence of chronic diseases such as cancer, anemia, hemophilia is anticipated to boost demand for HBOC products over the forecast period.
Application Insights:
The military segment dominated the market in terms of revenue share in 2017. The growing need for replacement of blood lost during surgeries or trauma and the increasing number of soldiers suffering from hemophilia are some of the factors that contribute to its dominance over other applications.
Civil application is expected to be one of the fastest-growing segments with a CAGR around 10% from 2018 to 2030 owing to rising awareness about HBOCs among healthcare professionals and patients. In addition, favorable government regulations regarding blood substitutes are also likely to fuel market growth over the forecast period. For instance, according these new guidelines published by FDA, any product containing PFBOC as an oxygen carrier can be considered as an artificial substitute for human blood ¢â‚¬Ëœ provided it does not cause harm or have any adverse effects on health when given alone or when mixed with other drugs (class II).
Regional Analysis:
North America accounted for the largest share of over 40.0% in 2017 owing to the high demand for blood substitutes from various end-use sectors, such as military and civil medical sector. The growing number of road accidents in North America is expected to propel the demand for artificial blood substitute products over the forecast period.
The Asia Pacific market is anticipated to witness a significant CAGR during the forecast period due to factors such as increasing awareness about blood donation and rising incidence of chronic diseases that require frequent surgeries & transfusions in this region. Moreover, increasing investments by key players on developing advanced ABS products are also expected to drive growth during the forecast period. For instance, India based company Manforce Ltd., a leading manufacturer of men's health products has collaborated with American Medical Response (AMR) Services Inc., New York, USA for providing emergency medical services (EMS).
Growth Factors:
- Increasing demand for artificial blood substitutes due to rising incidence of road accidents and other medical emergencies.
- Growing awareness about the benefits of artificial blood substitutes over traditional blood transfusion methods.
- Technological advancements in the field of artificial blood substitutes that are making them more efficient and safer to use.
- Rising number of research and development activities aimed at developing better artificial blood substitutes products.
Scope Of The Report
Report Attributes
Report Details
Report Title
Artificial Blood Substitute Market Research Report
By Type
Perfluorocarbon-based Oxygen Carrier (PFBOC), Hemoglobin-based Oxygen Carrier (HBOC)
By Application
Military, Civil
By Companies
Aurum Biosciences Ltd., HEMARINA SA, HbO2 Therapeutics, KaloCyte Inc., SpheriTech Ltd., NuvOx Pharma
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
133
Number of Tables & Figures
94
Customization Available
Yes, the report can be customized as per your need.
Global Artificial Blood Substitute Market Report Segments:
The global Artificial Blood Substitute market is segmented on the basis of:
Types
Perfluorocarbon-based Oxygen Carrier (PFBOC), Hemoglobin-based Oxygen Carrier (HBOC)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Military, Civil
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Aurum Biosciences Ltd.
- HEMARINA SA
- HbO2 Therapeutics
- KaloCyte Inc.
- SpheriTech Ltd.
- NuvOx Pharma
Highlights of The Artificial Blood Substitute Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Perfluorocarbon-based Oxygen Carrier (PFBOC)
- Hemoglobin-based Oxygen Carrier (HBOC)
- By Application:
- Military
- Civil
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Artificial Blood Substitute Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Artificial blood substitutes are products that are designed to replace human blood in medical procedures. They can be used to help patients who have lost a lot of blood, or who have anemia.
Some of the major players in the artificial blood substitute market are Aurum Biosciences Ltd., HEMARINA SA, HbO2 Therapeutics, KaloCyte Inc., SpheriTech Ltd., NuvOx Pharma.
The artificial blood substitute market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Artificial Blood Substitute Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Artificial Blood Substitute Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Artificial Blood Substitute Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Artificial Blood Substitute Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Artificial Blood Substitute Market Size & Forecast, 2020-2028
4.5.1 Artificial Blood Substitute Market Size and Y-o-Y Growth
4.5.2 Artificial Blood Substitute Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Perfluorocarbon-based Oxygen Carrier (PFBOC)
5.2.2 Hemoglobin-based Oxygen Carrier (HBOC)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Military
6.2.2 Civil
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Artificial Blood Substitute Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Artificial Blood Substitute Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Perfluorocarbon-based Oxygen Carrier (PFBOC)
9.6.2 Hemoglobin-based Oxygen Carrier (HBOC)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Military
9.10.2 Civil
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Perfluorocarbon-based Oxygen Carrier (PFBOC)
10.6.2 Hemoglobin-based Oxygen Carrier (HBOC)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Military
10.10.2 Civil
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Perfluorocarbon-based Oxygen Carrier (PFBOC)
11.6.2 Hemoglobin-based Oxygen Carrier (HBOC)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Military
11.10.2 Civil
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Perfluorocarbon-based Oxygen Carrier (PFBOC)
12.6.2 Hemoglobin-based Oxygen Carrier (HBOC)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Military
12.10.2 Civil
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Perfluorocarbon-based Oxygen Carrier (PFBOC)
13.6.2 Hemoglobin-based Oxygen Carrier (HBOC)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Military
13.10.2 Civil
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Artificial Blood Substitute Market: Competitive Dashboard
14.2 Global Artificial Blood Substitute Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Aurum Biosciences Ltd.
14.3.2 HEMARINA SA
14.3.3 HbO2 Therapeutics
14.3.4 KaloCyte Inc.
14.3.5 SpheriTech Ltd.
14.3.6 NuvOx Pharma
