Artificial blood are synthetic substitutes of biological blood expected to harness a new horizon in transfusion medicine.
Global Artificial Blood Market: Overview
Artificial blood are synthetic substitutes of biological blood expected to harness a new horizon in transfusion medicine. These products are considered as substitute for red blood cells and act to serve few key functions of biological blood, most notably acting as transportation medium for oxygen and carbon dioxide across the body cells. They can be produced by chemical isolation or using recombinant biochemical technology. Although there are various products in advanced stages of clinical trials, the commercialization of artificial blood is still slow. The key concerns that marketers are addressing are safety, compatibility, and effectiveness of artificial blood.
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Hemoglobin-based products have gained popularity in the artificial blood market in recent years as has been evident in a majority of products in late-stage clinical studies in various parts of the world. Hemoglobin-based oxygen carriers are expected to receive constant attention among industry players, which will underpin several of the key growth trajectories of the market in the not-so-distant future.
The report offers in-depth insights into the growth dynamics, the current outlook of the artificial blood market, and future avenues.
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Global Artificial Blood Market: Trends and Opportunities
The global artificial blood market is in preliminary stages as these are functionally useful in only short-term blood replacement applications. Biotechnology companies across the world are increasingly engaged in manufacturing longer-lasting products that can also serve some other critical functions of blood such as clotting and immunity building. Substantial risks of infections, such as HIV, in the process of blood transfusion was crucial factor triggering industry interests in artificial blood market.
Currently, there is a paucity of blood donors in developing nations and the limited supply for blood for the patient population. This can be potentially robust factor creating lucrative avenues in the artificial blood market. Efforts are underway to develop artificial blood with vast oxygen-carrying capability. This will be supported in increasingly by protein-engineering strategies
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The global rise in number of surgeries and the growing risk of blood transfusions are factors bolstering the expansion of the market. The growing interest in recombinant therapies is also a notable trend boosting demand. Growing focus on recombinant clotting factors is a case in point. Progress being made in Hb-based RBC substitutes will catalyze the prospects of the global artificial blood market.
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Global Artificial Blood Market: Regional Outlook
The report on the global artificial blood market offers in-depth assessment of the prospects of the artificial blood in key regions and highlights key technology advances in various regions. The development of licensing in the treatment of hemophilia. Regionally, developed and developing countries are expected to show great potential in the artificial blood market. These regions are gaining widespread boost from surge in research in hemoglobin-based products. Meanwhile, developing regions, notably Asia Pacific, witnessing the growing potential of the market owing to the emergence of new, recalcitrant disease strains such as that of Ebola and H1N1.
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Global Artificial Blood Market: Competitive Landscape
Large unmet needs of developing countries will also give rise to abundant opportunities for companies to capitalize on in the global artificial blood market. Some of the key players operating in the global artificial blood market could be Therapure Biopharma Inc., Sanguine Biosciences, Northfield Laboratories Inc., Baxter Healthcare Corp., and Alliance Pharmaceutical.
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