Key Trend Reshaping the Synthetic Blood Substitutes And Blood Products Market in 2025: Advancements In Lab-grown Blood Vessels For Trauma Care

What combination of drivers is leading to accelerated growth in the synthetic blood substitutes and blood products market?
The rising prevalence of chronic diseases is expected to propel the growth of the synthetic blood substitutes and blood products market in the future. Chronic diseases refer to long-lasting conditions that can be controlled but not cured, often persisting for a year or more and requiring ongoing medical attention. The increasing prevalence of chronic diseases is attributed to factors such as aging populations, unhealthy lifestyles, and greater life expectancy. Synthetic blood substitutes and blood products play a critical role in managing chronic diseases by addressing challenges related to blood loss, anemia, and organ function, which are common in chronic condition patients. For example, in June 2024, according to the Australian Institute of Health and Welfare, a government agency, the number of deaths due to chronic conditions in Australia increased from 459 deaths per 100,000 population in 2021 to 490 in 2022. Therefore, the rising prevalence of chronic diseases is driving the growth of the synthetic blood substitutes and blood products market.

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What is the projected compound annual growth rate (CAGR) of the synthetic blood substitutes and blood products market from 2025 to 2034, and what factors influence it?
The synthetic blood substitutes and blood products market has expanded rapidly, growing from $6.55 billion in 2024 to $7.62 billion in 2025 at a CAGR of 16.3%. This growth is attributed to an aging population, increased demand for blood transfusions, a need for safer and contaminant-free blood products, greater awareness of transfusion risks, and a stronger focus on emergency medical care.

The synthetic blood substitutes and blood products market is anticipated to expand rapidly, reaching $13.76 billion by 2029 at a CAGR of 15.9%. This rapid growth is driven by increasing applications in military and disaster response, rising awareness of alternative blood substitutes, a growing prevalence of blood-related disorders, and a higher incidence of trauma and emergency surgeries. Major trends in this period include the development of hemoglobin-based oxygen carriers, regulatory approvals and ongoing research, advancements in biotechnology, progress in regenerative medicine, and the integration of artificial intelligence (AI).

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How are the latest trends influencing the growth of the synthetic blood substitutes and blood products market?
In the synthetic blood substitutes and blood products market, companies are developing lab-grown blood vessels to address the global shortage of donor blood and tissues, as well as improve emergency medical care and trauma treatment. For example, in December 2024, Humacyte Global, Inc. received FDA approval for Symvess, an off-the-shelf, bioengineered blood vessel implant designed for trauma patients needing urgent revascularization. This product offers a safer alternative to vein harvesting and synthetic grafts.

What are the major segments of the synthetic blood substitutes and blood products market and their role in driving growth?
The synthetic blood substitutes and blood products market covered in this report is segmented -

1) By Type: Perfluorocarbon Based Product (PFC), Haemoglobin Based Oxygen Carrier, Synthetic Platelet, Recombinant Factor, Blood Expander
2) By Application: Cardiovascular Diseases, Anaemia, Organ Transplant, Injury and Trauma, Other Applications
3) By End-User: Hospitals And Clinics, Blood Banks, Other End users

Subsegments:
1) By Perfluorocarbon Based Product (PFC): Emulsion-Based Products, Non-Emulsion-Based Products
2) By Haemoglobin Based Oxygen Carrier: Polymerized Hemoglobin-Based Products, Crosslinked Hemoglobin-Based Products
3) By Synthetic Platelet: Platelet Substitutes, Platelet Aggregation Inhibitors
4) By Recombinant Factor: Recombinant Factor VIII, Recombinant Factor IX, Other Recombinant Factors
5) By Blood Expander: Colloid Solutions, Crystalloid Solutions

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Which regions are key players in the growth of the synthetic blood substitutes and blood products market?
North America was the largest region in the synthetic blood substitutes and blood products market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the synthetic blood substitutes and blood products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the synthetic blood substitutes and blood products market?
Major companies operating in the synthetic blood substitutes and blood products market are Takeda Pharmaceutical Company Limited, Fresenius Kabi AG, Baxter International Inc., Octapharma AG, Green Cross Corporation, Alliance Pharmaceutical Corporation, Hemosol Inc., Sanguine Corporation, Sangart Inc., Biopure Corporation, Tenex Therapeutics, Velico Medical, Hemarina S.A., KaloCyte Inc., Aurum Biosciences Limited, SpheriTech Limited, Dendritech Inc., HbO2 Therapeutics LLC, HemoBioTech Inc., Somatogen Inc.

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What Is Covered In The Synthetic Blood Substitutes And Blood Products Global Market Report?

•Market Size Forecast: Examine the synthetic blood substitutes and blood products market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the synthetic blood substitutes and blood products market for a structured understanding.
•Key Players Overview: Analyze major players in the synthetic blood substitutes and blood products market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the synthetic blood substitutes and blood products market.
•Segment Contributions: Evaluate how different segments drive overall growth in the synthetic blood substitutes and blood products market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the synthetic blood substitutes and blood products market.
•Industry Challenges: Identify potential risks and obstacles affecting the synthetic blood substitutes and blood products market.
•Competitive Landscape: Review strategic developments in the synthetic blood substitutes and blood products market, including expansions, agreements, and new product launches.

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