Global Artificial Blood market was valued at USD 2.95 Billion in 2018 and is projected is to exhibit 18.9% CAGR during the forecast period. The global artificial blood market is expected to value USD 11.79 Billion by 2026. Artificial blood, also called as synthetic blood substitute or also blood surrogate is a substance utilized as a replacement of biological blood. The product is aimed as an alternate to transfer of blood, blood transfusion, or blood-based products from an individual to the other. With the use of this artificial blood, it is now possible for surgeons and doctors to bypass the risk of immune suppression and disease transmission.

Artificial Blood Market Dynamics

The global Artificial Blood market is driven owing to the demand for the need of an alternate to shortage of blood supply and blood donors coupled with the rising demand for blood transfusion in cases of few diseases. However, lower shelf life and uncertainty of artificial blood along with stringent regulatory approval process restricts the market.

Artificial Blood Market Insight

Asia Pacific dominates the global Artificial Bloods market owing to rising need and demand for artificial blood products. North America and Europe also holds a prominent share of the global artificial blood market owing to rising incidences of health issues among its citizen particularly of older or younger age.

Artificial Blood Market Segmentation

The global Artificial Blood market is segmented into product, type, source, and region. On the basis of the product the market is further bifurcated into HemoSpan, Hemopure, PolyHeme, HemoLink, HemoTech, Oxycyte, HemoAssist, VIDAPHOR, PHER-O2, DDFPe, and Sanguinate. On the basis of type, the global artificial blood market is categorized into Hemoglobin-based Oxygen Carriers (HBOCs), and Perflurocarbon Emulsions (PFCEs). In addition, the global artificial blood market is classified on the basis of source into human blood, animal blood, and synthetic blood. Based on the geography the market is further segregated into North America, Latin America, Europe and Asia Pacific.

Artificial Blood Market Competitive Landscape

The major players associated with the global Artificial Blood market are Dextro-Sang Corporation, Sangart, Inc., BioPure Corporation, Northfield Laboratories, Dentritech, Inc., Baxter International, FluorO2 Therapeutics, Inc., Alpha Therapeutic Corporation, Nuvox Pharma Llc, and HemoBioTech, Inc., among others.