(EMAILWIRE.COM, January 09, 2023 ) The global artificial blood market size was valued at USD 3161.3 million in 2021 and growing at a CAGR of 11.9% during the forecast period 2022-2028. The terms “artificial blood replacements” or “oxygen therapies” are also used to refer to oxygen carriers made of haemoglobin. It serves as a replacement for blood transfusions and a means of simulating biological blood’s functionality. Transfusions of stored red blood cells are replaced with artificial blood in order to get over issues including a lack of blood sonor, a high danger of contamination, and the requirement for cross-matching. Risks associated with allogenic blood transfusions include the spread of infectious diseases, transfusion responses, acute lung injury related to transfusions, delayed postoperative wound healing, immunomodulation, and the possibility of cancer recurrence. It offers the possibility of cutting-edge, life-saving medical procedures.
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Artificial Blood Market Growth Factors:
Artificial blood substitutes must be used in place of donated red or plasma blood in an increasing number of surgical operations. Government and business organisations should increase their financing for artificial blood replacement research, which will probably lead to improvements and the introduction of new products. For instance, Hemoglobin Oxygen Therapeutics LLC stated in April 2020 that its preclinical results had shown that tempure may substitute packed red blood cells (RBCs) in normothermic kidney perfusion (NMP). The company saw a huge increase in interest in the field of organ transplantation as a result of this news. Artificial blood is made from a variety of sources, including stem cells, recombinant hemoglobin, human blood, animal blood, and microbes. Due to its universal blood group and ability to be delivered to patients of any blood type, artificial blood offers significant advantages over human blood. Additionally, no immunological reactions are brought on by artificial blood substitutes. Furthermore, compared to human blood, which has a 42-day shelf life, artificial blood substitute has a shelf life of 3 years or more at room temperature and removes the risk of infection or contamination during transfusion. Artificial blood is convenient to store and can be utilized in emergencies.
Artificial Blood Market Trends:
Around 70 different disorders have been successfully treated with cord blood stem cell transplantation.
The need for artificial blood can be greatly aided by its development, especially in light of the difficulty in locating appropriate donors for sickle cell anemia and thalassemia patients.
The most practical way to meet the unmet demands of these individuals could be to develop artificial blood.
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Artificial Blood Market Segmentation:
1) By Product Type: Hemoglobin-Based Oxygen Carriers, Perflurocarbon-Based Products, Recombinant Factors, Synthetic Platelets, Plasma Expanders, Others.
2) By Application: Traumatic Injuries, Blood Disorders, Anemia, Surgeries, Others.
3) By Distribution Channel: Hospitals, Clinics, Blood Banks.
Artificial Blood Market Regional Analysis:
A rise in traffic accidents, an increase in the incidence of chronic diseases, and an increase in surgeries performed as a result of medical problems are some of the reasons why North America dominates the market for artificial blood replacements. Due to variables like an increase in diabetes cases and an increase in eye surgeries related to diabetic retinopathy-associated blindness, which are two primary applications for HBOCs utilised in this region, Asia-Pacific is anticipated to expand at the greatest growth rate over the projection period.
The major players operating in the Artificial Blood Market are Alpha Therapeutic Corp (U.S.), FluorO2 Therapeutics (U.S.), Plasticell Limited (U.K.)
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