Global Synthetic Blood Substitutes Market research report offers a panoramic view of the Synthetic Blood Substitutes Market , regulatory framework, and macro- and micro-economic factors that influence the growth of the industry. The report strives to offer authentic information about the Synthetic Blood Substitutes Market size, share, product portfolio, revenue estimations, and growth rate. The report has been formulated through extensive primary and secondary research along with verified and reliable data obtained from industry experts and professionals.
The global synthetic blood substitutes market size reached USD 35.42 Million in 2021 and is expected to register a revenue CAGR of 25.4% during the forecast period, according to the latest analysis by Emergen Research. Shortage of human blood for transfusion purposes and benefits of synthetic blood substitutes over human blood are some key factors projected to support market revenue growth during the forecast period.The synthetic blood substitutes market is expected to increase as a result of several factors, including the expanding biotechnology industry, the advantages of artificial blood over human blood, and rising investments and funding for research and development of synthetic blood substitutes. Estimates by the National Red Cross suggest that over 29,000 units of red blood cells, 5,000 units of platelets, and 6,500 units of plasma are required daily in the United States. While approximately 6.8 million U.S. individuals donate blood each year, the supply-demand gap is still significant. Human and animal-derived blood components have a shorter shelf life.
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The report further divides the Synthetic Blood Substitutes Market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Synthetic Blood Substitutes Market
Key players in the market VirTech Bio, Prolong Pharmaceuticals, LLC, Hemarina, Oxyvita, Inc., KaloCyte, Inc., NuvOx Pharma, FluorO2 Therapeutics, and Hemoglobin Oxygen Therapeutics LLC.
Covid 19 impact analysis :
The report considers the COVID-19 pandemic that is currently unfolding as a key market influencer. The report provides a thorough estimation of the overall impact of the pandemic on the Synthetic Blood Substitutes Market nd its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the Synthetic Blood Substitutes Market
Synthetic Blood Substitutes Market Segmentation
Emergen Research has segmented the global synthetic blood substitutes market on the basis of source, type, application, end-user, and region:
· Source Outlook (Revenue, USD Million, 2019 - 2030)
- Blood
- Stem Cell
- Synthetic Polymer
· Type Outlook (Revenue, USD Million, 2019 - 2030)
- Hemoglobin-based Oxygen Carriers (HBOCs)
- Perfluorocarbons (PFCs)
· Application Outlook (Revenue, USD Million, 2019 - 2030)
- Anemia
- Injury
- Others
· End-User Outlook (Revenue, USD Million, 2019 - 2030)
- Hospitals and Clinics
- Military
- Cancer Treatment Centers
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Synthetic Blood Substitutes Market Regional Segmentation
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Answered by the Synthetic Blood Substitutes Market Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Synthetic Blood Substitutes Market market?
What are the key product types and applications of the Synthetic Blood Substitutes Market industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Synthetic Blood Substitutes Market market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Synthetic Blood Substitutes Market Market by 2027?
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