Dublin, 29 August 2023 (Globe Newswire) — “Global Organ Preservation Solutions Market: Analysis by Type, Technology, Organ Type, Region Size and Trends and Forecasts to 2028 Due to the Impact of COVID-19” report added of ResearchAndMarkets.com Recruitment.
The global organ preservation solutions market in 2022 is valued at USD 242.94 million. The market expects him to be worth US$356.98 million in 2028. The market is expected to grow at his CAGR of around $3 million. 6.70% during the forecast period 2023-2028.
Organ preservation solutions refer to solutions used to preserve organs and minimize tissue damage, especially while awaiting transplantation. They are used to protect organs prior to transplantation, as organs in the external environment often disintegrate when removed from the human body.
These solutions can be used to preserve the liver, pancreas, spleen, kidneys, adrenal glands, heart, lungs, kidneys, gastrointestinal tract, thymus, skin, brain, eyes, thyroid glands, and joints for organ transplantation. Therefore, the growing need for organ transplantation will be one of the major factors driving the demand for organ preservation solutions in the coming years.
This report offers the organ preservation solutions market divided into four segments based on technology: Static Cold Storage, Hypothermic Mechanical Perfusion, Normothermic Mechanical Perfusion, and Others.
Static refrigerated storage technology dominated the market in 2022 as organ transplantation and research activities expanded due to the rising incidence of organ failure. However, normal temperature mechanical perfusion is expected to be the fastest growing field in the next few years.
This technology provides organs with sufficient nutrients and oxygen to enable aerobic metabolism. It also contributes to better transplant outcomes and minimizes the possibility of post-transplant side effects. It is primarily used for liver preservation, but it also allows for effective preservation of other organs. As a result, such advantages are likely to drive market expansion throughout the forecast period.
Based on organ type, the report identifies 5 segments: Kidney, Lung, Liver, Heart, and Others. The kidney segment will hold the largest market share in 2022. Rising number of kidney failure cases and kidney transplant surgeries worldwide are the major factors affecting the growth of this segment. In addition, several awareness campaigns on the benefits of kidney transplantation are also expected to drive segment growth.
North America accounted for the largest share of the global organ preservation solutions market in 2022. North America and Europe are projected to become major markets during the forecast period, owing to rising acceptance of innovative medical technologies, high prevalence of chronic kidney disease and heart failure, and increasing investment to improve medical infrastructure.
Asia-Pacific is expected to be the fastest growing market due to rising healthcare costs, increasing patient awareness, and increasing need for organ transplant procedures. Moreover, over the next few years, countries such as China and India will experience a significantly aging population and an increase in the incidence of kidney and heart failure, increasing the availability of organ preservation solutions.
Market dynamics:
The market has grown in the last few years due to factors such as the surge in various chronic diseases, rising medical costs, rising incidence of new cancers, and increasing need for organ transplants. The elderly population makes up the bulk of the organ transplant practice demographic.
In addition, poor compliance with treatment, poor tolerance to treatment, and the presence of underlying or associated diseases predispose the elderly group to organ failure. Thus, the need for organ transplantation is increasing with the aging of the global population, which fuels the growth of the global organ preservation solutions market.
The market is projected to grow rapidly during the forecast period owing to various latest trends such as increasing government and NGO efforts to encourage organ donation, rising obesity rates, and growth in medical tourism. The development of organ preservation techniques is expected to be driven by the growing interest in organ transplantation procedures worldwide.
Likewise, the development of mechanical propulsion technology for preserving organs will support the growth of the organ preservation solutions market.
Analysis of the impact of COVID-19 and future directions:
The COVID-19 pandemic has adversely impacted the global organ preservation solutions market, resulting in significant impacts on organ donation and transplantation worldwide. The pandemic has significantly reduced donation and transplant activity worldwide, reducing demand for organ preservation solutions.
Since COVID-19, the global market has rebounded due to technological advances and extensive research and development of innovative preservation techniques, including the use of antiviral agents in preservation solutions, reshaping the landscape of organ preservation solutions. It has been.
Competitive environment:
The global organ preservation solutions market is moderately segmented.
Collaborations, new product development, investments related to enhancing capabilities, mergers and acquisitions, partnerships and agreements, investments in research and development are just some of the main strategies used by companies.
Key Attributes:
| report attribute | detail |
| number of pages | 161 |
| Forecast period | 2023-2028 |
| 2023 Estimated Market Value (USD) | $258.12 million |
| Projected Market Value (USD) to 2028 | $356.98 million |
| compound annual growth rate | 6.7% |
| Target area | global |
Market trend
driving force of growth
- Growing elderly population
- Soaring prevalence of chronic diseases
- Soaring medical costs
- Increase in new cancer cases
- Growing need for organ transplantation
assignment
- Advent of stem cells
- Expensive Organ Transplant Procedures and Available Alternatives
Market trend
- excessive alcohol consumption
- Soaring Obesity Rates
- Growth in medical tourism
- Increasing Government and NGO Efforts to Encourage Organ Donation
Company Profile: Business Overview, Business Segments, Business Strategy
- XVIVO Perfusion AB
- Transmedics Group Co., Ltd.
- Artivion Co., Ltd.
- Bio Life Solutions Co., Ltd.
- Teva Pharmaceutical Industries, Inc.
- Paragonics Technologies Inc.
- Bridge to Life Co., Ltd.
- OrganOx Limited
- Bristol-Myers Squibb
- Accord Healthcare Limited
- Perfusion Solution Co., Ltd.
- Worldwide transplant solution
For more information on this report, please visit: https://www.researchandmarkets.com/r/qr5uoo
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