The artificial blood substitutes market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 24.3% in the forecast period of 2021 to 2028 and is expected to reach USD 1,762.47 thousand by 2028. Limited availability of fresh blood and its short life span coupled with increasing demand for blood transfusion and increased funding, for the development of blood substitutes acts as driver for the artificial blood substitutes market growth.
Artificial blood substitutes are also known as oxygen therapeutics or haemoglobin-based oxygen carriers. It is used to mimic the function of biological blood and to offer a substitute to blood transfusion. Artificial blood are used as a solution to replace transfusion of banked red blood cells and are designed to overcome the limitations such as shortage of blood sonor, high risk contamination, requirement of cross matching. The allogenic blood transfusions has multiple risks and can cause infectious transmission, transfusion reactions, transfusion related acute lung injury, delayed postoperative wound healing, immunomodulation and potential risk of cancer recurrence. It offers the promise of new and important life-saving medical treatments.
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Market Analysis and Insights: Asia-Pacific Artificial Blood Substitutes Market:
Limited availability of fresh blood and its short life span coupled with increasing demand for blood transfusion and increased funding for development of blood substitutes are the key factors driving the Asia-Pacific artificial blood substitutes market. However, the high cost production of artificial blood as well as stringent rules laid down by governmental bodies for approval of blood substitute products may hamper the growth of the artificial blood substitutes market. Also, rising awareness regarding the advantages offered by artificial blood and rising demand for artificial blood coupled with insufficient number of blood donor and growing number of research and development on artificial blood will create huge opportunities for the Asia-Pacific artificial blood substitutes market. The in availability of artificial blood products, extended clinical trials and side effects associated with artificial blood will create a huge challenge for the Asia-Pacific artificial blood substitutes market.
The artificial blood substitutes market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market.
Asia-Pacific Artificial Blood Substitutes Market Scope and Market Size
The artificial blood substitutes market is segmented on the based on the product type, source, application and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
· On the basis of product type, the Asia-Pacific artificial blood substitutes market is segmented into perfluorocarbon (PFCs) and hemoglobin-based oxygen carries (HBOCs). Perfluorocarbon (PFCs) is further segmented into perftoran. Hemoglobin-based oxygen carries (HBOCs) is further segmented into oxyglobin and hemopure. In 2021, the hemoglobin-based oxygen carries (HBOCs) segment is expected to dominate the artificial blood substitutes market due to rising demand for blood sustitutes which eliminates the blood typing and to overcome the shortage of human blood.
· On the basis of source, the Asia-Pacific artificial blood substitutes market is segmented into human blood, animal blood, microorganism based recombinant HB, synthetic polymers and stem cells. In 2021, the animal blood segment is expected to dominate the artificial blood substitutes market due to availability of ample amount of source to produce artificial blood.
Table of Contents: Asia-Pacific Artificial Blood Substitutes Market
1 Introduction
2 Market Segmentation
3 Executive Summary
4 Premium Insight
5 Market Overview
6 Covid-19 Impact on Asia-Pacific Artificial Blood Substitutes in Healthcare Industry
7 Asia-Pacific Artificial Blood Substitutes Market, by Product Type
8 Asia-Pacific Artificial Blood Substitutes Market, by Modality
9 Asia-Pacific Artificial Blood Substitutes Market, by Type
10 Asia-Pacific Artificial Blood Substitutes Market, by Mode
11 Asia-Pacific Artificial Blood Substitutes Market, by End User
12 Asia-Pacific Artificial Blood Substitutes Market, by Geography
13 Asia-Pacific Artificial Blood Substitutes Market, Company Landscape
14 Swot Analysis
15 Company Profiles
16 Questionnaire
17 Related Reports
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