HONG KONG--(BUSINESS WIRE)--Blood demand exceeds supply
The demand for blood in China exceeds supply, with blood products only satisfying 50% of the total demand. According to The World Health Organisation, 0.92% of China’s population are donating blood, which falls below the rate of 1% to 3% that is needed to meet demand. The annual clinical blood demand growth rate is 10-15%.
Blood collection doubled between 2011 and 2016 to 7000 tons. In 2018, 18.4 million units of blood were allocated across China. 15.8 million units were allocated locally within the same Province as collection. But managing blood supplies is hugely complex. Refrigerated blood only remains viable for between 35 and 42 days.
Technological Progression
Biotechnology is currently undergoing exponential technological progression and improving by a factor of 10 every year in terms cost-benefit. This is driving new biotech solutions that have not been available before. The global biotech market is expected to reach US$741.7 billion by 2026. Synthetic biotech is expected to exceed more than US$12.5 billion by 2024 with a CAGR of 20%, according to MarketWatch.
However, the development of new biotechnologies requires a very high appetite for risk and lots of patience. Detraxi is backed by London and Hong Kong-based technology billionaire Tej Kohli. Kohli believes that biotechnologies such as Detraxi will offer solutions to some of the world’s greatest public health challenges.
The Detraxi Solution
Detraxi hopes to save millions of lives worldwide by developing its proprietary biotechnology solution for a range of global health challenges. Detraxi is working in collaboration with some of the worlds most talented and respected scientists across fluid replacement, diagnostics, transplantation and regenerative medicine. Blood products alone are a US$4 billion market in China, with a CAGR of 18% projected for the next 5 years.
The Detraxi biotechnology has already undergone several clinical studies and is currently undergoing new pre-clinical trials. High income-growth nations such as China will be the primary beneficiary of the Detraxi biotechnology. As China’s population grows, the market for this technology will become increasingly significant.
Doug Bohrer, CEO of Detraxi said:
“Blood is in constant short supply worldwide, and without a constant stream of donors, blood supplies will decrease. Detraxi has an exciting vision for a biotechnology solution to address this global health challenge.”
Tej Kohli, lead investor into Detraxi said:
“Biotech is in a trajectory of rapid technological progression that is creating enormous new opportunity. This exponential growth will soon reach a tipping point where companies like Detraxi can offer new biotech solutions to improving global health in ways that could not be imagined before.”