Global Synthetic Blood Substitutes and Blood Product Market Size Likely to Surpass at a CAGR of 16.89% By 2034

Global Synthetic Blood Substitutes and Blood Product Market size was valued at USD 9,729.94 Million in 2025 and is expected to reach USD 39,637.49 Million by 2034 at a CAGR of 16.89% during the forecast period 2025 -2034.

Synthetic Blood Substitutes and Blood Product Market: Overview

The synthetic blood substitutes and blood product market focuses on synthetic blood merchandise replicating natural blood’s capabilities, including oxygen transport and clotting. These products, consisting of whole blood, platelets, red blood cells (RBCs), plasma, and cryoprecipitate, are increasingly critical in treating anemia, clotting disorders, and restoring blood extent at some stage during surgical procedures.

Various factors, such as the longer shelf life of synthetic blood products, reduced danger of infection, and elimination of blood type matching and improved logistical efficiency and availability, are mainly driving the market growth of this market.

The growing use of synthetic blood products in organ transplantation is turning into something more prominent, as artificial blood substitutes allow organ perfusion and the treatment of conditions like heart attacks, strokes, and trauma. This made synthetic blood a promising tool in essential medical care, using market increase.

However, factors such as financial constraints restrict the progress of research into synthetic blood substitutes, the dearth of professionals in this area of interest, the high cost of these products, and the lack of awareness about these products are mainly restraining the market growth.

Growing awareness about the advantages of blood substitutes and blood products is expected to create lucrative opportunities for the market during the forecast period. The primary advantage of synthetic blood is its universal compatibility, doing away with the desire for blood type matching, which is good for emergencies.

These products additionally have a longer shelf life of up to three years at room temperature than human blood, which could most effectively be saved for some weeks.

By type, the perfluorocarbon-based products (PFCs) type segment held the highest market share in 2024 and is expected to keep its dominance during the forecast period. PFCs, including perfluorodecalin and perfluorobron, are preferred because they efficiently transport oxygen.

North America dominated the global synthetic blood substitutes and blood product market by region. North America’s emphasis on patient protection, technological improvements, and regulatory aid positions it as a key participant in the market.

The U.S. is the major market in the region because it is at the forefront of the studies and development of artificial blood, supported by good-sized investment from both non-public and public sectors, which includes investment from businesses like DARPA. The USA’s superior healthcare infrastructure and attention to overcoming blood supply shortages have made artificial blood substitutes more critical in trauma care, surgical procedures, and organ transplants.

Report Scope

CMI has comprehensively analyzed the Global Synthetic Blood Substitutes and Blood Product Market. The drivers, restraints, challenges, opportunities, and key trends have been explained in depth to depict the Synthetic Blood Substitutes and the Blood Product market scenario. Segment-wise, the market size and market share of Synthetic Blood Substitutes and Blood Products during the forecast period are duly addressed to portray the probable picture of the Global Synthetic Blood Substitutes and Blood Product industry.

The competitive landscape includes key innovators, market giants, and niche players, which are studied and analyzed extensively with respect to their strengths, weaknesses, and value-addition prospects. In addition, the report covers the profiling of Synthetic Blood Substitutes and Blood Product key players, market shares, mergers and acquisitions, consequent market fragmentation, and new trends and dynamics in partnerships.

List of the prominent players in the Synthetic Blood Substitutes and Blood Product Market:

• Aurum Biosciences Ltd
• Baxter International
• Dentritech Inc
• Hemoglobin Oxygen Therapeutics LLC
• HemoBioTech Inc.
• Hemarina SA
• KaloCyte Inc.
• NuvOx Pharma LLC
• SpheriTech Ltd
• HemCon Medical Technologies Inc.
• Matrox Medical Inc.
• Sorrento Therapeutics Inc.
• Xeris Pharmaceuticals Inc.
• BPL Medical Technologies
• Sangart Inc.
• Hemosol Inc.
• Sonaca Group
• The Medicines Company
• Erytech Pharma
• American Red Cross
• Hemerus Medical B.V.
• Others

The Synthetic Blood Substitutes and Blood Product Market is segmented as follows:

By Source

• Human Blood
• Animal Blood
• Synthetic Polymers
• Stem Cells
• Others

By Type

• Perfluorocarbon Based Product (PFC)
• Haemoglobin Based Oxygen Carrier
• Synthetic Platelet
• Recombinant Factor
• Blood Expander

By Installation Type

• Cardiovascular Diseases
• Anaemia
• Organ Transplant
• Injury and Trauma
• Others

By End-User

• Hospitals and Clinics
• Blood Banks
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America