Shortfall In Human Blood Supply Spurs Innovation In Synthetic Substitutes

Main Category: Blood / Hematology
Article Date: 14 Dec 2008 - 1:00 PDT

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The market for human blood and blood components continues to expand in correlation with the world's growing and aging populations, particularly in the United States, Japan, and Europe. According to a new report from Kalorama Information entitled "Blood: The Worldwide Market for Blood Products, Blood Testing, Blood Equipment, and Synthetic Blood Products," a shortfall in human blood supply is prompting the development of synthetic blood products.

Demand for blood increases about 6% annually, and earned revenues of about $16 billion in 2007. Though global demand has increased over the last decade, supply has declined. The current worldwide supply of blood for transfusions is 60 million pints per year, while worldwide demand is 180 million pints per year.

"In the U.S. alone, the 65 and older segment is expected to double in the next 30 years," says Bruce Carlson, publisher of Kalorama Information. "And while the Baby Boomer population ages and requires more blood, the prime donor age population will shrink, exacerbating the shortfall."

Innovation in synthetic blood products is an integral component to addressing the shortfall between blood supply and demand. Such products are not dependent on voluntary donations and can be manufactured in quantities to meet demand.

Some synthetic products such as recombinant factors, with $5.6 billion in 2007 sales, are well established and projected to grow 9% annually through 2012. Others, such as hemoglobin-based oxygen carriers (HBOCs) and perflurocarbon-based oxygen carriers (PFCs), are expected to enter the market by 2010 and projected to reach nearly $1 billion by 2014.

Synthetic blood substitutes have long been sought for treatment of chronic and acute anemias and for the rapid replacement of blood lost after trauma. They are commonly used in a variety of other applications including elective surgery, cardiovascular surgery, chemotherapy, and sickle cell crisis.

"Blood: The Worldwide Market for Blood Products, Blood Testing, Blood Equipment, and Synthetic Blood Products" features a comprehensive analysis of the blood industry including products, equipment and testing; discusses key trends and regulatory, business, and clinical challenges, and contains complete market data with forecasts through 2014. For further information click here.

About Kalorama Information

Kalorama Information supplies the latest in independent market research in the life sciences, as well as a full range of custom research services. We routinely assist the media with healthcare topics.

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