Dublin, Oct. 20, 2023 (GLOBE NEWSWIRE) -- The "Artificial Blood and Plasma: Global Markets to 2027" report has been added to ResearchAndMarkets.com's offering.
The artificial blood market was estimated to be $23.9 million in 2022 and is forecasted to grow at a compound annual growth rate (CAGR) of 9.2% to reach a value of $40.5 million through 2028. The market value is low because there are no approved products for artificial blood.
Recently, it has been observed that companies are focusing on developing products that would address the shortcomings of the failed or existing products in the pipeline.
Some of these include the development of freeze-dried HBOCs, Erythromer (from Kalocyte) (which is based on nanocapsule technology), and biosynthetic red blood cells (producing red blood cells from stem cells), being developed by companies such as Erypharma and Red C Biotech. Researchers are also focusing on the development of artificial whole blood by combining three synthetic components: freeze-dried platelet surrogates, freeze-dried red blood cell surrogates, and freeze-dried plasma.
Hemopure is the only marketed product for anemia and is approved in South Africa and Russia and used under an expanded access program in the U.S. Currently, the company doesn't have the infrastructure and funds to produce the product and the company reported no revenue in 2021. In 2022, HemO2life from Hemarina was approved for use as an additive for kidney grafts in the European Union. There are no approved products for routine clinical use in the U.S., which is the primary market.
A similar product for graft preservation is being developed by VirTechBio-OxyBridge-which is in development and anticipated to enter the U.S. market by 2026. There are companies with products in Phase II and Phase II/III development, but the products might not be approved in the forecast period or enter the market by 2028. However, future approvals will help cater to the high unmet need in the market.
Factors leading to the growth of the market are increasing demand for blood transfusions and risks and challenges associated with blood transfusions and shortage of blood supply. Factors such as low rate of approvals, product acceptance, and higher pricing act as barriers to the market. The market is dominated by startup and private biotech companies. Key players in the market include Hemarina, NuvOx Pharmaceuticals, VirTech Bio, and Prolong Pharmaceuticals.
The report includes a discussion of artificial oxygen carrier products. BCC Research analyzes each market segment and provides a forecast for six years. The current report analyzes the market's drivers, challenges, and opportunities. The report also covers market projections for 2028 and the market analysis for key market players.
The report includes the company profiles of the key players with detailed information about their business segments, financials, product portfolios, and recent developments. The report also provides information on emerging technologies, the impact of COVID-19, product analysis, deals, and investment outlook.
Report Includes
- Estimation of market size and analyses of global market trends, with data from 2020-2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
- Highlights of the market potential and characterization of artificial blood market by product, application, and region
- Examination of the key drivers and constraints that will shape the market and discussion on the upcoming market opportunities and areas of focus to forecast the market into various segments and sub-segments
- Coverage of recent advances, emerging technologies, and developments of the industry
- Evaluation of key industry acquisitions and strategic alliances and market share analysis of the leading suppliers of the industry
Company profiles of major players within the industry, including
- Hemarina
- VirTechBio
- NuvOx Pharma
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $26.1 Million |
| Forecasted Market Value (USD) by 2028 | $40.5 Million |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
- Is There a Problem With Human Blood?
- Emerging Needs for Artificial Blood
- Artificial Blood Will Be Useful in Dealing With the Risks of Infection
- Artificial Blood Will Help to Decrease the Load on the Donor Blood Supply
- Artificial Blood is Needed to Deal With Unexpected Demands on the Blood System
- Hurdles in the Development of Artificial Blood Products
- Ideal Characteristics of Artificial Blood
- Artificial Blood Over Human Blood
- Applications
- Surgeries
- Emergency Resuscitation
- For Short-Term Use
- Where More Effective Than Human Blood
- Rejections Due to Religious Beliefs
- Challenges in Artificial Blood Development
Chapter 4 Market Dynamics
- Drivers
- Increasing Demand for Blood Transfusions
- Risks and Challenges Associated With Blood Transfusions
- Shortage of Blood Supply
- Barriers
- Low Rate of Product Approvals
- Product Acceptance
- Product Pricing
- Opportunities
- Impact of Covid-19
Chapter 5 Artificial Blood by Source
- Introduction
- Artificial Blood Developed from Human Blood
- Artificial Blood Developed from Animal Blood
- Artificial Blood Developed Using Recombinant Technology
- Surface Modified Hemoglobin
- Cross-Linked Hemoglobin
- Polymerized Hemoglobin
- Encapsulation
- Genetically Engineered Recombinant Hemoglobin
- Natural Hemoglobin
Chapter 6 Artificial Blood by Type
- Introduction
- Perfluorocarbon Emulsions
- General Characteristics of Perfluorocarbons
- Emulsion Selection
- Historical Developments of Perfluorocarbon Emulsions
- First Generation of Pfcs
- Second Generation of Pfcs
- Third Generation of Pfcs
- Hemoglobin-Based Oxygen Carriers
- General Characteristics of Hbocs
- Historical Events: Hemoglobin Solutions
Chapter 7 Market Estimation
- Introduction
- Potential Market for Artificial Blood
- Artificial Blood Market, by Source
- Blood (Animal/Human)
- Synthetic Polymers
- Artificial Blood Market, by Type
- Hemoglobin-Based Oxygen Carriers
- Perfluorocarbon-Based Products
- Artificial Blood Market, by Region
- North America
- Europe
- Emerging Markets
Chapter 8 Emerging Technologies and Developments
- Overview
- Emerging Technologies
- Nanocapsule Technology
- Stem Cells
- Other Ongoing Research for Blood Substitutes
Chapter 9 Product Analysis
- Introduction
- Product Safety
- Product Effectiveness
- Product Cost
- Legal Implications
- Product Analysis of Some of the Products Under Development
- Hemopure
- Hemo2Life
- Hemotech
- Nano2 (Ddfpe)
- Sanguinate
- Vidaphor
- Clinical Trials
- Product Description of Some of the Products in Preclinical and Early Phase I Stage
- Erythromer
- Hemoglobin Vesicles
- Oxyvita
- Oxybridge
Chapter 10 Patent Analysis
- Introduction
- Fda Regulation
- Fda Good Manufacturing Practices and Reporting
- Patent Analysis
Chapter 11 Competitive Intelligence
- Strategic Developments
- Competitive Analysis
Chapter 12 Company Profiles
- Aurum Biosciences
- Erypharm
- Hemoglobin Oxygen Therapeutics LLC.
- Hemarina
- Kalocyte Inc.
- Nano Sanguis S.A
- Nuvox Pharma LLC.
- Prolong Pharmaceuticals, LLC
- Red C Biotech
- Virtech Bio
For more information about this report visit https://www.researchandmarkets.com/r/sjh3f
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
