Vancouver, BC -- (SBWIRE) -- 12/03/2020 -- The global Synthetic Blood Substitutes market is presumed to garner a revenue of USD 15.40 billion by 2027, according to the latest research study by Emergen Research. The rising usage of synthetic blood in conditions such as cardiovascular disorders, neonatal conditions, organ transplant, malignant neoplasm, and injuries, among others. Another factor driving the requirement for synthetic blood substitutes is the rising prevalence of complications during pregnancy.

One of the critical factors influencing market expansion is the shortage of blood bags in the blood banks required for transfusion. The increasing number of people receiving transfusions during surgical interventions and due to traumatic injury is expected to bolster the demand for synthetic blood substitutes. As per the statistics given by the Pacific Heart, Lung & Blood Institute, there is a shortage in the availability of human blood for critical medical conditions. Over the next few years, the scarcity is expected to increase as the estimations do not take into account the requirement for blood during situations such as civilian casualties, natural calamities, wars, and terrorist attacks. This is anticipated to bolster the demand for synthetic blood substitutes, thereby driving the market growth.

The market is presumed to witness resilient growth over the projected timeline attributable to the excellent benefits offered by the synthetic blood substitutes. One such major advantage is the O –ve nature of the synthetic blood substitutes, thereby increasing the scope of its use during transfusion for patients with any blood group.

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Key Highlights from the Report:
- Synthetic hemoglobin based substitutes are generated from hemoglobin isolated from a strain of E. coli bacteria. This hemoglobin is highly stable and comprises enhanced oxygen-carrying capacity in comparison to regular RBCs.
- The synthetic blood substitutes are majorly applicable in cardiovascular disorders due to the increased need for blood transfusion to treat CVD patients during percutaneous coronary intervention, coronary bypass grafting, and to treat low levels of Hb. Thus cardiovascular disease segment is expected to expand exponentially during the estimated timeframe.
- Major factor propelling the growth of synthetic blood substitutes is the longer shelf life of the products in contrast to the normal human blood. This simplifies the storage and preservation tasks for the blood banks and can be readily available during transfusion.
- Europe is presumed to lead the market attributable to the soaring requirement for synthetic blood substitutes in numerous medical interventions such as injuries and anemia. The strong investment in the R&D sector is also expected to bolster the market expansion in European countries.
- Some of the prominent players of the market are Green Cross Corp., Hemarina, Biopure Corporation, KaloCyte, Alliance Pharmaceutical Corp., Baxter, North Field Laboratories, FLUORO2 Therapeutics, Sagart Corporation, and Alpha Therapeutic Corporation, among others.
- KaloCyte, a pre-clinical stage biotechnology company, joined forces with the expanding biotech fraternity of Baltimore, Maryland, in September 2019, as University of Maryland (UM) BioPark's associate.

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For the purpose of this report, Emergen Research has segmented the Global Synthetic Blood Substitutes Market on the basis of source, type, application, end-use, and region:

Source Outlook (Revenue, USD Billion; 2017-2027)
- Human Blood
- Animal Blood
- Microorganisms
- Synthetic Polymers
- Stem Cells
- Others

Type Outlook (Revenue, USD Billion; 2017-2027)
- Perfluorocarbon (PFCs)
- Hemoglobin-Based Oxygen Carriers (HBOCs)
- Others

Application Outlook (Revenue, USD Billion; 2017-2027)
- Anemia
- Neonatal Conditions
- Injuries and Trauma
- Organ Transplant
- Cardiovascular Diseases
- Malignant Neoplasm
- Maternal Conditions
- Others

End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
- Blood Banks
- Others

Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
o U.S.
o Canada
o Mexico
- Europe
o U.K.
o Germany
o BENELUX
o France
o Italy
o Rest of Europe
- Asia Pacific
o India
o Japan
o China
o South Korea
o Rest of APAC
- Latin America
o Brazil
o Argentina
o Chile
o Rest of LATAM
- Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
o Rest of MEA

To identify the key trends in the industry and read full summary click on the link: https://www.emergenresearch.com/industry-report/synthetic-blood-substitutes-market

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