Presently, the study depicts that the “Organ Preservation Market is anticipated to capture a healthy position by 2023, as it will surge at a CAGR of 8%”. The need to optimize services related to organs transplantation, organ failures, and more is the leading cause for the market to inflate during the forecast period.
The global organ preservation market is mainly driven by the high incidences of organ failures, increasing advancements in surgeries, increasing procedures of organ transplantation, and growing patient population with organ failure cases. The need for efficient treatment for organs is motivating the growth of the market at an exceptional pace. The expansion of the market is based to a great extent on developments such in the medical sector, which is expected to be the driving force for the global organ preservation market over the assessment period.
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The market players are also to play a pivotal role in capitalizing the global organ preservation market with the help of more research & development activities, more collaborations with foreign medical institutes and medical R&D centers to bring more opportunities for patients for surgeries. In the forecast period, the improvements in the concepts of organ preservation are expected to accelerate the evolution of the global organ preservation market.
some of the active players contributing to the market growth of Organ Preservation Market are,
- Bristol-Myers Squibb
- Xvivo Perfusion AB
- Essential Pharmaceuticals LLC
- Franz Kohler Chemie GmbH
- BioLife Solutions Inc.
- Bristol-Myers Squibb
- Claris Lifesciences Limited
- Lifeline Scientific
- ToleroTech Inc.
- 21st Century Medicine
- CryoLife Inc
Some factors such as high cost of organ preservation and its complicated transplantation procedures, along with the unavailability of the suitable donor and development of organs by stem cell therapy could be a hinder to the growth of the market in the forecast period.
Globally, the organ preservation market has been categorized among various segments, which include such as preservation solution, organ type, the technique of preservation, and end-user.
By preservation solution: perfadex, University of Wisconsin (UW) solution, custodiol HTK, celsior solution, citrate solutions, and Collins solution are the segments.
By organ type: liver, kidney, heart, lungs, and others are the segments.
By the technique of preservation: Static cold storage and dynamic cold storage are the segments, where dynamic cold storage is extra segmented into hypothermic machine perfusion, normothermic machine perfusion, and oxygen persufflation.
By end-user: organ banks, hospitals and clinics, and others are the segments.
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The region-based analysis of the global organ preservation market covers the regions of the Americas, Europe, Asia Pacific, and the Middle East and Africa.
Among these, Americas control the largest market share for organ preservation from 2018–2023. The adoption of technological advancements with the increasing prevalence of cardiovascular disease and rising elder population leading to organ failure are motivating the growth of the market. Additionally, the increasing initiative by the U.S. government with reimbursement policies in advanced treatment options are also driving the market to surge considerably. According to the American Heart Association, in 2014, about 31% of the deaths in the U.S. were caused by cardiovascular disorders. As per, the National Chronic Kidney Disease report, 2017, chronic kidney diseases are common among adults in the U.S. and 30 million people, or 15% of the U.S. adults are probable to suffer chronic kidney disease. Such a growing rate of cardiovascular disorders are expected to affect organ preservation market directly.
The European market is expected to demonstrate a large portion of the market share in support of the availability of advanced treatment facilities, healthcare expenditure, and rising cases of the alcoholic fatty liver disease lead to liver failure. Also, various government legislative reforms are providing regulatory guidelines to manufacturing companies to flourish medical device, which will eventually drive the European market. Rising elder population is also eventually supplementing the growth of the organ preservation market.
Apart from them, Asia Pacific is also expected to be the fastest growing market because of the increasing prevalence of chronic diseases, which is acting as a significant driver of market growth. China is one of the foremost countries which has been one of the fastest countries with a swelling population and raising awareness about health and accessibility of new treatment methods. Rising healthcare expenditure and rise in the Asia Pacific region is supplementing the growth of the organ preservation market. Whereas, the Middle East & Africa is also expected to portray the least growth in the market due to some significant factors such as lack of awareness, limited access and unaffordability of treatment facilities in middle-income countries. In the Middle East, the United Arab Emirates has spotted to be the largest market share due to the development of the healthcare industry and the increasing availability of specialty care centers.
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