WASHINGTON, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Artificial Blood Cells Market finds that Increasing need for blood transfusions is expediting market growth. The market growth is attributed to increasing chronic disease prevalence, increasing number of surgeries, as well as increasing accident incidences. Total Global Artificial Blood Cells Market is estimated to reach USD 31.1 Million by 2028, up from USD 12.2 Million in 2021, at a Compound Annual Growth Rate (CAGR) of 21.2%.
Furthermore, increasing population as well as a smaller number of blood donors as compared to blood need, is projected to augment the growth of the global artificial blood cells market, states Vantage Market Research, in a report, titled “Artificial Blood Cells Market by Type (Hemoglobin-Based Oxygen Carriers, Perfluorocarbon Emulsion), by Source (Animal Hemoglobin, Human Hemoglobin, Synthetic Polymer, Stem Cell), by Application (Cardiovascular Diseases, Anemia, Organ Transplant, Injuries), by Distribution Channel (Hospitals, Clinics, Blood Banks, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
Increasing Chronic Disease Prevalence
Since the past few decades, the chronic disease prevalence is increasing swiftly. This is owing to improper nutrition as well as busy lifestyles, lack of exercise. According to the World Health Organization (WHO), cancer is the leading cause of death occurring across the globe. In 2020, across the globe, around 10 million deaths occurred due to cancer. Breast cancer, lung, colon and rectum, prostate, skin (non-melanoma), and stomach cancer are the most common types of cancer deaths in 2020. Additionally, along with cancer, diabetes patients are also increasing hastily. According to the World Health Organization (WHO), About 422 million people worldwide have diabetes, the majority living in low-and middle-income countries, and 1.5 million deaths are directly attributed to diabetes each year. The most common type is type 2 diabetes. Especially in adults. Thus, increasing chronic and infectious disease prevalence across the globe is boosting the demand for artificial blood. This is further driving the artificial blood market growth over the forecast period.
Increasing geriatric population as well as accident incidents across the globe
Population across the globe is increasing explosively. Thus, geriatric population is also increasing. Consequently, providing a large pool of base population suffering from several diseases. Additionally, accident incidents across the globe are also increasing hastily. This is leading to an increase in the number of surgeries. Consequently, increasing the number of trauma deaths owing to blood loss or inefficient blood supplies. According to the World Health Organization (WHO), Approximately 1.3 million people die each year as a result of road traffic crashes. This is increasing the demand for artificial blood. Consequently, propelling artificial blood cells market growth over the forecast period.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Artificial Blood Cells Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America Dominates the Global Artificial Blood Cells Market
North America has dominated the global artificial blood cells market in 2021 and is likely to continue the same trend during the forecast period. This is owing to the factors such as, higher demand and supply of artificial blood. Additionally, advanced research and development in the synthetic blood market is further fuelling the market growth over the forecast period.
Asia Pacific is likely to witness the fastest growth in the artificial blood cells market during the forecast period. The market growth in the region is attributed to factors such as, presence of emerging economies as well as presence of most populated countries in the world such as India and China. The presence of a large population provides a large base of people suffering from diseases and accident incidences and others. Thus, increasing the demand for artificial blood. Consequently, propelling artificial blood cells market growth over the forecast period.
List of Prominent Players in the Artificial Blood Cells Market:
- Green Cross Corporation
- North Field Laboratories
- Alliance
- Pharmaceutical Corporation
- Baxter
- FLUORO2 Therapeutics
- Biopure Corporation
- Alpha Therapeutics
Browse market data Tables and Figures spread through 160 Pages and in-depth TOC on "Artificial Blood Cells Market by Type (Hemoglobin-Based Oxygen Carriers, Perfluorocarbon Emulsion), by Source (Animal Hemoglobin, Human Hemoglobin, Synthetic Polymer, Stem Cell), by Application (Cardiovascular Diseases, Anemia, Organ Transplant, Injuries), by Distribution Channel (Hospitals, Clinics, Blood Banks, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)". View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/artificial-blood-cells-market-187889
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Artificial Blood Cells Market?
- How will the Artificial Blood Cells Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Artificial Blood Cells Market?
- What is the Artificial Blood Cells market drivers and restrictions?
- What will be the CAGR and size of the Artificial Blood Cells Market throughout the forecast period?
Recent Developments:
August 2020: Arma Gel DT, a next-generation flexible Artificial Blood Cells blanket for dual-temperature and cryogenic applications, was introduced by Armacell.
This market titled “Artificial Blood Cells Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 12.2 Million |
| Projected Market Size in 2028 | USD 31.1 Million |
| CAGR Growth Rate | CAGR of 21.2% from 2022–2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Type: - Haemoglobin-Based Oxygen Carriers, Perfluorocarbon Emulsion Source: - Animal Haemoglobin, Human Haemoglobin, Synthetic Polymer, Stem Cell, Others Application: - Cardiovascular Diseases, Anaemia, Organ Transplant, Injuries, Others Distribution Channel: - Hospitals, Clinics, Blood Banks, Others |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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