Summary

The global market for Artificial Blood Substitute was estimated to be worth US$ 10.56 million in 2024 and is forecast to a readjusted size of US$ 48.14 million by 2031 with a CAGR of 25.4% during the forecast period 2025-2031.
Artificial blood refers to artificial blood cells and their functional substitutes. Its function, as the name suggests, is to replace real human blood to meet people's demand for blood and make up for the current blood shortage.

The market for artificial blood substitutes is primarily driven by increasing medical demand and advancements in technology. On a global scale, the demand for blood transfusions continues to rise, while the availability of suitable blood is often constrained by challenges such as blood type compatibility, limited shelf life, and underdeveloped blood supply systems. Artificial blood substitutes can play a vital role in emergency care, mass casualty incidents, and battlefield medicine. In addition, the accelerating aging population, along with the growing number of major surgeries and trauma cases, has created strong clinical demand for safe, long-lasting, and universally compatible alternatives. Advances in bioengineering, nanotechnology, and synthetic biology are also fostering the development of more efficient and stable products. Furthermore, concerns over transfusion-related infections and low blood donation rates in certain regions are encouraging healthcare systems to prioritize artificial blood solutions, collectively driving market growth.

This report aims to provide a comprehensive presentation of the global market for Artificial Blood Substitute, focusing on the total sales revenue, key companies market share and ranking, together with an analysis of Artificial Blood Substitute by region & country, by Type, and by Application.
The Artificial Blood Substitute market size, estimations, and forecasts are provided in terms of sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Artificial Blood Substitute.

Market Segmentation
By Company
Aurum Biosciences Ltd.
Hemarina
HbO2 Therapeutics
KaloCyte Inc.
SpheriTech Ltd.
NuvOx Pharma
Safi Biotherapeutics
Segment by Type
Perfluorocarbon-based Oxygen Carrier (PFBOC)
Hemoglobin-based Oxygen Carrier (HBOC)
Segment by Application
Military
Civil
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size. This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Artificial Blood Substitute company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Revenue of Artificial Blood Substitute in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Revenue of Artificial Blood Substitute in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

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Table of Contents

1 Market Overview
1.1 Artificial Blood Substitute Product Introduction
1.2 Global Artificial Blood Substitute Market Size Forecast (2020-2031)
1.3 Artificial Blood Substitute Market Trends & Drivers
1.3.1 Artificial Blood Substitute Industry Trends
1.3.2 Artificial Blood Substitute Market Drivers & Opportunity
1.3.3 Artificial Blood Substitute Market Challenges
1.3.4 Artificial Blood Substitute Market Restraints
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Competitive Analysis by Company
2.1 Global Artificial Blood Substitute Players Revenue Ranking (2024)
2.2 Global Artificial Blood Substitute Revenue by Company (2020-2025)
2.3 Key Companies Artificial Blood Substitute Manufacturing Base Distribution and Headquarters
2.4 Key Companies Artificial Blood Substitute Product Offered
2.5 Key Companies Time to Begin Mass Production of Artificial Blood Substitute
2.6 Artificial Blood Substitute Market Competitive Analysis
2.6.1 Artificial Blood Substitute Market Concentration Rate (2020-2025)
2.6.2 Global 5 and 10 Largest Companies by Artificial Blood Substitute Revenue in 2024
2.6.3 Global Top Companies by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Artificial Blood Substitute as of 2024)
2.7 Mergers & Acquisitions, Expansion
3 Segmentation by Type
3.1 Introduction by Type
3.1.1 Perfluorocarbon-based Oxygen Carrier (PFBOC)
3.1.2 Hemoglobin-based Oxygen Carrier (HBOC)
3.2 Global Artificial Blood Substitute Sales Value by Type
3.2.1 Global Artificial Blood Substitute Sales Value by Type (2020 VS 2024 VS 2031)
3.2.2 Global Artificial Blood Substitute Sales Value, by Type (2020-2031)
3.2.3 Global Artificial Blood Substitute Sales Value, by Type (%) (2020-2031)
4 Segmentation by Application
4.1 Introduction by Application
4.1.1 Military
4.1.2 Civil
4.2 Global Artificial Blood Substitute Sales Value by Application
4.2.1 Global Artificial Blood Substitute Sales Value by Application (2020 VS 2024 VS 2031)
4.2.2 Global Artificial Blood Substitute Sales Value, by Application (2020-2031)
4.2.3 Global Artificial Blood Substitute Sales Value, by Application (%) (2020-2031)
5 Segmentation by Region
5.1 Global Artificial Blood Substitute Sales Value by Region
5.1.1 Global Artificial Blood Substitute Sales Value by Region: 2020 VS 2024 VS 2031
5.1.2 Global Artificial Blood Substitute Sales Value by Region (2020-2025)
5.1.3 Global Artificial Blood Substitute Sales Value by Region (2026-2031)
5.1.4 Global Artificial Blood Substitute Sales Value by Region (%), (2020-2031)
5.2 North America
5.2.1 North America Artificial Blood Substitute Sales Value, 2020-2031
5.2.2 North America Artificial Blood Substitute Sales Value by Country (%), 2024 VS 2031
5.3 Europe
5.3.1 Europe Artificial Blood Substitute Sales Value, 2020-2031
5.3.2 Europe Artificial Blood Substitute Sales Value by Country (%), 2024 VS 2031
5.4 Asia Pacific
5.4.1 Asia Pacific Artificial Blood Substitute Sales Value, 2020-2031
5.4.2 Asia Pacific Artificial Blood Substitute Sales Value by Region (%), 2024 VS 2031
5.5 South America
5.5.1 South America Artificial Blood Substitute Sales Value, 2020-2031
5.5.2 South America Artificial Blood Substitute Sales Value by Country (%), 2024 VS 2031
5.6 Middle East & Africa
5.6.1 Middle East & Africa Artificial Blood Substitute Sales Value, 2020-2031
5.6.2 Middle East & Africa Artificial Blood Substitute Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
6.1 Key Countries/Regions Artificial Blood Substitute Sales Value Growth Trends, 2020 VS 2024 VS 2031
6.2 Key Countries/Regions Artificial Blood Substitute Sales Value, 2020-2031
6.3 United States
6.3.1 United States Artificial Blood Substitute Sales Value, 2020-2031
6.3.2 United States Artificial Blood Substitute Sales Value by Type (%), 2024 VS 2031
6.3.3 United States Artificial Blood Substitute Sales Value by Application, 2024 VS 2031
6.4 Europe
6.4.1 Europe Artificial Blood Substitute Sales Value, 2020-2031
6.4.2 Europe Artificial Blood Substitute Sales Value by Type (%), 2024 VS 2031
6.4.3 Europe Artificial Blood Substitute Sales Value by Application, 2024 VS 2031
6.5 China
6.5.1 China Artificial Blood Substitute Sales Value, 2020-2031
6.5.2 China Artificial Blood Substitute Sales Value by Type (%), 2024 VS 2031
6.5.3 China Artificial Blood Substitute Sales Value by Application, 2024 VS 2031
6.6 Japan
6.6.1 Japan Artificial Blood Substitute Sales Value, 2020-2031
6.6.2 Japan Artificial Blood Substitute Sales Value by Type (%), 2024 VS 2031
6.6.3 Japan Artificial Blood Substitute Sales Value by Application, 2024 VS 2031
6.7 South Korea
6.7.1 South Korea Artificial Blood Substitute Sales Value, 2020-2031
6.7.2 South Korea Artificial Blood Substitute Sales Value by Type (%), 2024 VS 2031
6.7.3 South Korea Artificial Blood Substitute Sales Value by Application, 2024 VS 2031
6.8 Southeast Asia
6.8.1 Southeast Asia Artificial Blood Substitute Sales Value, 2020-2031
6.8.2 Southeast Asia Artificial Blood Substitute Sales Value by Type (%), 2024 VS 2031
6.8.3 Southeast Asia Artificial Blood Substitute Sales Value by Application, 2024 VS 2031
6.9 India
6.9.1 India Artificial Blood Substitute Sales Value, 2020-2031
6.9.2 India Artificial Blood Substitute Sales Value by Type (%), 2024 VS 2031
6.9.3 India Artificial Blood Substitute Sales Value by Application, 2024 VS 2031
7 Company Profiles
7.1 Aurum Biosciences Ltd.
7.1.1 Aurum Biosciences Ltd. Profile
7.1.2 Aurum Biosciences Ltd. Main Business
7.1.3 Aurum Biosciences Ltd. Artificial Blood Substitute Products, Services and Solutions
7.1.4 Aurum Biosciences Ltd. Artificial Blood Substitute Revenue (US$ Million) & (2020-2025)
7.1.5 Aurum Biosciences Ltd. Recent Developments
7.2 Hemarina
7.2.1 Hemarina Profile
7.2.2 Hemarina Main Business
7.2.3 Hemarina Artificial Blood Substitute Products, Services and Solutions
7.2.4 Hemarina Artificial Blood Substitute Revenue (US$ Million) & (2020-2025)
7.2.5 Hemarina Recent Developments
7.3 HbO2 Therapeutics
7.3.1 HbO2 Therapeutics Profile
7.3.2 HbO2 Therapeutics Main Business
7.3.3 HbO2 Therapeutics Artificial Blood Substitute Products, Services and Solutions
7.3.4 HbO2 Therapeutics Artificial Blood Substitute Revenue (US$ Million) & (2020-2025)
7.3.5 HbO2 Therapeutics Recent Developments
7.4 KaloCyte Inc.
7.4.1 KaloCyte Inc. Profile
7.4.2 KaloCyte Inc. Main Business
7.4.3 KaloCyte Inc. Artificial Blood Substitute Products, Services and Solutions
7.4.4 KaloCyte Inc. Artificial Blood Substitute Revenue (US$ Million) & (2020-2025)
7.4.5 KaloCyte Inc. Recent Developments
7.5 SpheriTech Ltd.
7.5.1 SpheriTech Ltd. Profile
7.5.2 SpheriTech Ltd. Main Business
7.5.3 SpheriTech Ltd. Artificial Blood Substitute Products, Services and Solutions
7.5.4 SpheriTech Ltd. Artificial Blood Substitute Revenue (US$ Million) & (2020-2025)
7.5.5 SpheriTech Ltd. Recent Developments
7.6 NuvOx Pharma
7.6.1 NuvOx Pharma Profile
7.6.2 NuvOx Pharma Main Business
7.6.3 NuvOx Pharma Artificial Blood Substitute Products, Services and Solutions
7.6.4 NuvOx Pharma Artificial Blood Substitute Revenue (US$ Million) & (2020-2025)
7.6.5 NuvOx Pharma Recent Developments
7.7 Safi Biotherapeutics
7.7.1 Safi Biotherapeutics Profile
7.7.2 Safi Biotherapeutics Main Business
7.7.3 Safi Biotherapeutics Artificial Blood Substitute Products, Services and Solutions
7.7.4 Safi Biotherapeutics Artificial Blood Substitute Revenue (US$ Million) & (2020-2025)
7.7.5 Safi Biotherapeutics Recent Developments
8 Industry Chain Analysis
8.1 Artificial Blood Substitute Industrial Chain
8.2 Artificial Blood Substitute Upstream Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.2.3 Manufacturing Cost Structure
8.3 Midstream Analysis
8.4 Downstream Analysis (Customers Analysis)
8.5 Sales Model and Sales Channels
8.5.1 Artificial Blood Substitute Sales Model
8.5.2 Sales Channel
8.5.3 Artificial Blood Substitute Distributors
9 Research Findings and Conclusion
10 Appendix
10.1 Research Methodology
10.1.1 Methodology/Research Approach
10.1.1.1 Research Programs/Design
10.1.1.2 Market Size Estimation
10.1.1.3 Market Breakdown and Data Triangulation
10.1.2 Data Source
10.1.2.1 Secondary Sources
10.1.2.2 Primary Sources
10.2 Author Details
10.3 Disclaimer