Global Artificial Blood Market - Industry Size, Share, Trends and Forecast 2019 - 2026

Published - Jan 2019 | Category - Pharma & Healthcare | No. of Pages - 116 | Published By - Ameco Research


Introduction

The global artificial blood market is analyzed to reach the market value of around $10.85 Billion by 2026 and the market is projected to showcase approximately 20.3% CAGR during the forecast period 2019-2026.

Artificial blood is a substitute for blood and usually, it reproduces and satisfies a few elements of blood and also provides the option to blood transfusion. The main principle behind artificial blood is carrying carbon dioxide and oxygen all over the body. For instance, traumatic injuries and diseases causing blood loss due to which mortality rate has increased. Moreover, blood can be fresh and stored for up to 42 hours.

Market Dynamics

The growth of artificial blood substitutes due to the rise in demand for transferring blood in cases such as trauma, blood loss during surgeries, and anemia. The other major factors which attribute the market growth rise in road accidents, insufficient number of blood donors, increase in the incidence of disease seeking medical interventions or surgeries, military wars, trauma cases, and rise in blood-related disorders. Moreover, the restraining factor includes less life span of artificial blood products, stringent rules, and government approvals are the process which is hindering the market growth.


 

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