Vancouver, BC -- (SBWire) -- 03/18/2021 --The global synthetic blood substitutes market is projected to worth USD 15.40 Billion by 2027, according to a new report by Emergen Research. The market for synthetic blood substitutes such as Hemopure, Oxyglobin, and Hemotech, is growing at a double-digit rate attributed to its rising application in cardiovascular diseases, anemia, malignant neoplasm, injuries, neonatal conditions, maternal conditions, and organ transplant, among others. Also, obstetric conditions linked with blood transfusion may result in health complications, and even death, if inappropriately managed, is likely to fuel the demand for synthetic blood substitutes.
The increasing demand for uninterruptible power supply systems for industrial operations in the manufacturing or chemical, or oil & gas industries results in the growing usage of Synthetic Blood Substitutes-based lithium-ion batteries. The ongoing trend of energy conservation and increasing preference towards renewable battery energy over fuel energy is a major contributing factor for the development of the industry.
Based on the types, the Synthetic Blood Substitutes market has been further classified based on geography, application and consumption capability. On the basis of the product application, the industry is bifurcated taking into consideration those in demand and are an outcome of technology advancement. Region-wise, the performance of the industry along with the prominent vendors operating in the geography also illuminates stakeholders, business owners, and field marketing, executives. The different facets of the business based on parameters including new launches, acquisition and mergers and new entrants are discussed extensively during the study.
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This report on the global Synthetic Blood Substitutes Market equips the reader with all essential tools to decipher their standing in the industry based on the growth of revenue or sales. It provides a comprehensive evaluation of the global Synthetic Blood Substitutes market from various perspectives to deliver a detailed, informative, and precise analysis of regional growth, competition, and market segmentation, among other factors. Moreover, it also gives an accurate account of the significant breakthroughs and developments that influence the global Synthetic Blood Substitutes market. It also focuses on both the global as well as the regional expansion of the Synthetic Blood Substitutes industry to give an overall analysis.
Key Highlights From The Report
In September 2019, a preclinical-stage biotech firm, KaloCyte, engaged in developing a bio-inspired synthetic RBC substitute for application in settings when stored RBCs are not available, has entered into an alliance with the growing biotech community of Baltimore as an affiliate of the University of Maryland (UM) BioPark.
Synthetic hemoglobin-based substitutes are created from hemoglobin collected from a strain of E. coli bacteria. The modified hemoglobin is stable and possesses a more excellent oxygen-carrying ability as compared to RBCs.
Blood transfusions are often administered to patients for the treatment of low hemoglobin levels percutaneous coronary intervention, coronary artery bypass grafting, and non-ST-segment elevation acute coronary syndromes, and settings. Thus, cardiovascular diseases are a major application area for the market.
Contrary to natural blood, with a shelf-life of 42 days, synthetic substitutes may be stored for over a year or more, thereby easing the task of storage and preservation by blood banks and use it when required in blood transfusion.
Europe held the second-largest market share in 2019, owing to the growing demand for synthetic substitutes for blood transfusion in several medical applications, including traumatic injuries & anemia and increased investments in R&D by biotech firms.
Key participants include Hemarina, Sagart Corporation, FLUORO2 Therapeutics, Biopure Corporation, Alpha Therapeutic Corporation, KaloCyte, Baxter, Green Cross Corporation, North Field Laboratories, and Alliance Pharmaceutical Corporation, among others.
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Key questions answered by the report
At what rate will the Synthetic Blood Substitutes market grow? What will be the value of the market in 2027?
What would be the impact on Synthetic Blood Substitutes in the Asia Pacific region?
What is the key application of Synthetic Blood Substitutes?
What are the future growth strategies adopted by market players?
The investigative approach applied for the extensive analysis of the sale, gross margin and profit generated by the industry are presented through resources including tables, charts, and graphic images. Importantly, these resources can be easily integrated or used for preparing business or corporate presentations.
Regional scope: - North America; Europe; Asia Pacific; Central & South America; MEA
Source Outlook (Revenue, USD Billion; 2017-2027)
Human Blood
Animal Blood
Microorganisms
Synthetic Polymers
Stem Cells
Others
Type Outlook (Revenue, USD Billion; 2017-2027)
Hemoglobin-Based Oxygen Carriers (HBOCs)
Perfluorocarbon (PFCs)
Others
Application Outlook (Revenue, USD Billion; 2017-2027)
Cardiovascular Diseases
Anemia
Malignant Neoplasm
Injuries and Trauma
Neonatal Conditions
Maternal Conditions
Organ Transplant
Others
End-Use Outlook (Revenue, USD Billion; 2017-2027)
Hospitals & Clinics
Blood Banks
Other
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The publication also dedicates individual chapters to various segments present in the market and the related sub-segments. In this study, our analysts provide historical revenues along with the estimated revenues for all the sectors. Sales of products and the evolution of end-users have also been inspected in this research report. The chapter on geographical analysis assesses the regional markets. It takes an in-depth view of the volatile socio-political conditions, weather fluctuations, and annual budgets of nations to determine their effect on the global market.
Research Methodology
Data triangulation and market breakdown
Research assumptions Research data including primary and secondary data
Primary data includes breakdown of primaries and key industry insights
Secondary data includes key data from secondary sources
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Synthetic Blood Substitutes Market Segmentation & Impact Analysis
Chapter 5. Synthetic Blood Substitutes Market By Product Type Insights & Trends, Revenue (USD Million)
Chapter 6. Synthetic Blood Substitutes Market By Application Insights & Trends Revenue (USD Million)
Chapter 7. Synthetic Blood Substitutes Market By End-Users Insights & Trends Revenue (USD Million)
Chapter 8. Synthetic Blood Substitutes Market Regional Outlook
Continued…
Synthetic Blood Substitutes Market Recent Trends, Future Growth, Industry Analysis, Outlook, Insights, Share and Forecasts Report 2027
The study methodologies used to examine the Synthetic Blood Substitutes market for the forecast period, 2020 - 2027 further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.