Authored By: Sarah
28 Feb 2022

Artificial Blood Substitutes Market | Market Highlights and Insights to Recovery from COVID-19
Market Forecast and Growth Projections 2021-2025

The Global artificial blood substitutes market is expected to grow by $ 7.38 billion, accelerating at a CAGR of almost 23% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.


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Artificial Blood Substitutes Market: Leading Segments and Growth Analysis

This research report will provide insights into the current market share of each segment along with growth projections for the next five years.

  • Market is segmented Product (HBOC and PFBOC) and Geography (North America, Europe, Asia, and ROW).
  • The North America region emerged as the leading segment in recent years. 41% of the market growth will originate from North America during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Artificial Blood Substitutes Market size.

Artificial Blood Substitutes Market: Top Trends, Drivers, Challenges to drive Market Recovery

The research report looks at the impact of various trends, drivers, and challenges for market growth during the forecast period. These insights will enable clients to design a growth strategy for their business and area of operations.

  • A key market driver for the Artificial Blood Substitutes Market will be increasing funding for product development.
  • Presence of large patient pool with intraoperative complications is another factor that will be instrumental in driving market growth during the forecast period.
  • Lack of trained laboratory professionals is a challenge that needs to be overcome to persist on the path to growth and recovery from the impact of the pandemic.

Artificial Blood Substitutes Market: Vendor Analysis

  • The market is concentrated.
  • The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
  • Aurum Biosciences Ltd., Hemarina SA, Hemoglobin Oxygen Therapeutics LLC, KaloCyte Inc., NuvOx Pharma LLC, and SpheriTech Ltd. are some of the major market participants.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

 

Browse through some of other related market research reports for more insights:

  • Immunohematology Market: Global immunohematology market will post an incremental growth of $ 907.43 million and progressing at a CAGR of almost 7.75% during the forecast period.
  • Bloodstream Infection Testing Market: The bloodstream infection testing market is set to post an incremental growth of $ 3.56 billion, accelerating at a CAGR of about 8% during the forecast period.
  • Bilirubin Blood Test Market: The Global Bilirubin Blood Test Market is projected to grow by $ 619.10 million, accelerating at a CAGR of over 8% till 2025.
  • Sickle Cell Disease Treatment Market: Global sickle cell disease treatment market is likely to post an incremental growth of $ 2.33 billion, accelerating at a CAGR of 11.36% during the forecast period.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market will accelerate at a CAGR of almost 23%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 7.38 bn through 2021-2025.

     
  3. What is a key factor driving this market?
    Increasing funding for product development will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    North America, Europe, Asia, and ROW are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    41% growth will originate from North America

     
  6. Who are the leading market vendors?
    The leading vendors in this market are Aurum Biosciences Ltd., Hemarina SA, Hemoglobin Oxygen Therapeutics LLC, KaloCyte Inc., NuvOx Pharma LLC, and SpheriTech Ltd.

     
  7. What are the market segments covered in this report?
    The market is segmented by Product (HBOC and PFBOC) and Geography (North America, Europe, Asia, and ROW)
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