Assessment of the Global Artificial Blood Substitutes Market
A recent study published by TMRR evaluates the overall prospects of the Artificial Blood Substitutes market during the forecast period (2019-2029). As per the findings of the report, the Artificial Blood Substitutes market is forecasted to grow at a CAGR of ~XX% over the assessment period and surpass the value of ~US$ XX by 2019. The report further ponders over the micro and macro-economic factors that are expected to nurture the growth of the Artificial Blood Substitutes market.
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Essential Findings of the Report
- Data pertaining to the ongoing R&D activities relevant in the Artificial Blood Substitutes market
- Future prospects of the Artificial Blood Substitutes market in various regional markets
- Influence of technological advances on the growth of the Artificial Blood Substitutes market
- Factors likely to boost or inhibit the growth of the Artificial Blood Substitutes market
- Marketing, sales, and promotional strategies of prominent market players
The competition landscape chapter of the report offers a detailed assessment of the prominent players operating in the Artificial Blood Substitutes market. The market share, product range, pricing structure, revenue growth, and growth strategies of various companies are discussed in the report.
The regulatory and government policies relevant to the dynamics of the Artificial Blood Substitutes market in each regional market is included in the report. In addition, the overall scenario of the Artificial Blood Substitutes market in different geographies is thoroughly analyzed in the presented report.
A thorough analysis of the various end-users of the Artificial Blood Substitutes is provided in the report along with informative graphs and tables.
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segmentation, and competitive scenario. The assessment of artificial blood substitutes market presented herein could serve as a valuable guide for both existing market participants, and the ones seeking entry in this market.
Artificial Blood Substitutes Market: Competitive Landscape and Notable Developments
The initial clinical trials for blood substitutes are recorded as early as early 1600, wherein milk, beer, urine, sheep’s blood, and perfluorochemicals were administered as blood substitutes for animal and human subjects.
In successive periods, clinical trials of milk transfusion, including goat’s milk in large quantities were carried out but in vain. Clinical trials also involved injecting human milk that were futile too, which led researchers concede human milk not to be a substitute for blood.
With continual extensive research, over long periods, scientists have attained some success to develop blood substitutes. Artificial blood thus far developed can substitute red blood cells. While biological human blood performs several different functions, artificial blood performs the sole purpose of transporting oxygen and carbon dioxide in the body.
Established biotechnology companies in the ambit are engaged to develop blood substitutes. Such pursuits primarily involve developing oxygen carriers similar or above the capacity of biological blood. With concerted efforts of some top-notch biotechnology companies, namely HEMARINA SA, KaloCyte Inc. and Hemoglobin Oxygen Therapeutics LLC blood substitutes are available as oxygen carrier based on hemoglobin and perfluorocarbon-based oxygen carrier.
Nevertheless, presence of several well-established biotechnology companies engaged in the development of blood substitutes portrays a competitive yet moderately consolidated vendor landscape of the artificial blood substitutes market.
Artificial Blood Substitutes Market: Key Trends
Worldwide, excessive blood loss due to traumatic injuries and diseases is responsible for vast number of deaths every year. Limited availability of fresh blood and small storage periods of fresh blood for such situations have necessitated development of artificial blood substitutes.
With continual experiments over long periods, scientists have thus far been able to create substitutes to mimic oxygen carrier capacity of biological blood. Development of perfluorochemical-based oxygen carrier and hemoglobin-based oxygen carrier and provide thrust to the artificial blood substitutes market.
Besides this, advent of stem cell therapy is poised to create new opportunities for demand of artificial blood substitutes.
However, on the downside, lower shelf life of artificial blood products and stringent regulatory approval process for these products restrain the growth of artificial blood substitutes market.
Artificial Blood Substitutes Market: Regional Outlook
North America is at the fore for demand within overall artificial blood substitutes market. Presence of advanced healthcare combined with awareness of individuals for alternate demonstrated therapies account for leading revenue share of the region.
Continual advances in stem cell therapy further indicates sustained growth of artificial blood substitutes market in the region.
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Major Queries Addressed in the Report:
- How will the growth of the Artificial Blood Substitutes market unfold in region 1?
- Which market players are heavily investing in R&D activities?
- What is the most lucrative region for companies in the Artificial Blood Substitutes market?
- Which is the market share of region 1 and region 2?
- How are companies coping with the soaring prices of raw materials?
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