Vancouver, BC -- (SBWIRE) -- 03/19/2021 -- 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 shortage of human blood for transfusion is one of the significant factors influencing the market growth. Every year, more than 4.5 million people in America receive transfusions, owing to a surgical operation or a traumatic injury and the count of patients needing a transfusion is surpassing the number of donors. According to the Pacific Heart, Lung, and Blood Institute, there is an acute shortfall of human blood availability for healthcare purposes. It is estimated that about 33.0% of Americans in their lifetime would receive transfusion in critical life-threatening condition. In the upcoming years, the shortage could be stark, as existing projections do not consider for the need for blood in circumstances of mass civilian casualties, encompassing natural calamities, terrorist attacks, and wars, thereby driving market demand.

Synthetic substitutes offer benefits over the natural one, thereby creating enormous opportunities for market growth. One of the advantages being synthetic substitutes belongs to universal blood group O -ve, and hence patients can receive transfusion irrespective of their group type, as well as will not experience any immunologic reactions.
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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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 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.
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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All of the segments studied in the research study are analyzed on the basis of BPS, market share, revenue, and other important factors. Our research study shows how different segments are contributing to the growth of the global Synthetic Blood Substitutes market. It also provides information on key trends related to the segments included in the report. This helps market players to concentrate on high-growth areas of the global Synthetic Blood Substitutes market. The research study also offers separate analysis on the segments on the basis of absolute dollar opportunity.

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
Others

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Important the study on the Synthetic Blood Substitutes market takes a closer look at the top market performers and monitors the strategies that have enabled them to occupy a strong foothold in the market. Performance of the product and services across different segments and geography are thoroughly assessed during the research. Apart from this, the research brings to light real-time data about opportunities that will completely transform the trajectory of the business environment in the coming years.

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Table of Content
Chapter 1. Synthetic Blood Substitutes Market Methodology & Sources
1.1. Synthetic Blood Substitutes Market Definition
1.2. Synthetic Blood Substitutes Market Research Scope
1.3. Synthetic Blood Substitutes Market Methodology
1.4. Synthetic Blood Substitutes Market 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. Synthetic Blood Substitutes Market Key Insights
Chapter 4. Synthetic Blood Substitutes Market Segmentation & Impact Analysis
Chapter 5. Synthetic Blood Substitutes Market By Products Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 6. Synthetic Blood Substitutes Market By Types Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 7. Synthetic Blood Substitutes Market By Applications Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 8. Synthetic Blood Substitutes Market By End Use Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 9. Synthetic Blood Substitutes Market Regional Outlook
Chapter 10. Competitive Landscape
Continued…