Providing analysis and forecasts for the years 2024-2034.
This is a market analysis report from BIS Research. The synthetic blood substitute market is rapidly growing due to increased demand in trauma, surgery, and chronic disease treatment. It is projected to reach a size of $8.7 million by 2024 and is expected to grow at an annual rate of 15.43% to reach $36.7 million by 2034. There is a demand for safe and effective blood substitute products as alternatives to traditional transfusions, with the United States being the focal point of the market. Key companies include Aurum Biosciences and KaloCyte, Inc., which are driving technological innovation while overcoming challenges in research and development and regulatory approval. The market is segmented by application and supply source, and future growth is anticipated.
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