Towards Healthcare
Artificial Blood Substitute Market to Grow at 20.45% CAGR till 2034

Artificial Blood Substitute Market Evolution and Future Scope

The artificial blood substitute market is USD 11.67 million in 2025, projected to reach USD 62.54 million by 2034 at 20.45% CAGR. North America leads (38% share), Asia-Pacific grows fastest. Key segments: plasma/volume expanders (35%), trauma care (40%), hospitals (60%). Covers companies, competitive analysis, value chain, trade, and regional insights.

Content

  • Last Updated: 14 October 2025
  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2023
  • Base Year: 2024
  • Estimated Years: 2025-2034

About The Author

Rohan Patil is a seasoned market research professional with over 5 years of focused experience in the healthcare sector, bringing deep domain expertise, strategic foresight, and analytical precision to every project he undertakes.

He began his journey with Precedence Research, where he played a pivotal role in developing high-impact healthcare market reports. Today, Rohan leads research initiatives at Towards Healthcare, while also contributing to Statifacts, where he supports cross-industry analysis and data-driven storytelling.

Rohan’s core strengths lie in trend analysis and emerging technologies, regulatory monitoring and thought leadership through high-quality report writing. He excels at identifying future-ready opportunities and translating complex data into strategic recommendations. His work spans pharmaceuticals, biotechnology, medical devices, and digital health, assessing everything from market potential and competitive positioning to customer needs and regulatory shifts.

A trusted advisor and a relentless innovator, Rohan continues to push the boundaries of traditional market research, merging scientific rigor with commercial insight to stay ahead in a fast-evolving healthcare landscape.

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FAQ's

The artificial blood substitute market stands at USD 11.67 million in 2025 and is expected to reach USD 62.54 million by 2034, growing at a CAGR of 20.45% from 2024 to 2034.

North America is currently leading the artificial blood substitute market share 38% due to the rising incidence of trauma and surgery, growing demand due to blood shortages, and advancements in biotechnology.

Some key players include Hemarina, OxyVita, Inc., Hemoglobin Oxygen Therapeutics/Hemopure, Aurum Biosciences, KaloCyte/KaloCyte, Inc.

Key trends include nanotechnology, stem cell-derived components, next-generation oxygen carriers, recombinant blood products, etc.

DARPA, HC, PHAC, CFIA, PMPRB, CIHR, FDA, WHO, DoD, NIH, USM.
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