Description

The global artificial blood market size US$ 3161.3 million in 2020 and expected to to reach US$ 6576.3 million by 2027, at a CAGR of 11.9% during forecast period 2021-2027. Artificial blood or synthetic blood and blood products are the alternatives to the blood transfusion to replace the blood. It fulfills and replicates the normal functions of the body. Artificial blood is infused in the traumatic injuries and other disease conditions for the transportation of carbon di oxide and oxygen across the body. Moreover, scientists are focusing on the development of artificial blood due to inadequate number of blood donors leads to shortage of blood. However, there are adverse effects associated with the artificial blood such as hemoglobin based blood substitute might increase the occurrence of heart attacks. Artificial blood is mostly utilised in the treatment of trauma patients, therefore an increase in the number of people suffering from heart and renal diseases is expected to drive market growth over the forecast period. Conventional blood transfusion methods are frequently impractical to provide in battlefield circumstances. Artificial blood, which is a simple technique to manage blood supply in an effective and time-saving manner, might assist medical care in the armed forces in that event. All of these factors are contributing to the global growth of the artificial blood market.

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