New York, USA, May 04, 2021 (GLOBE NEWSWIRE) -- According to a newly published report by Research Dive, the global organ care system market for lungs is estimated to generate $5.6 million by 2026, and rise at a CAGR of 19.0% over the forecast period from 2019 to 2026. As per our analysts, the growing elderly population and the increasing number of smokers across the globe are the significant factors predicted to boost the growth of the global organ care system market for lungs during the forecast period. Besides, the rising adoption of sedentary lifestyle among people is another factor is predicted to accelerate the market growth. Conversely, the lack of availability of donors and cold storage for organ are expected to hamper the market growth in the projected timeframe.
The main drivers of the OCS lung industry are the rise in the introduction of bad habits, such as smoking, and the increase in emissions. Through the fact that people's behavior often impacts their wellbeing due to unsafe food, poor diets and lack of physical activity. These factors are intended to boost overall market growth over the projected period. According to the World Health Organization (WHO), it is projected that the demographics of aging may rise to 2 billion by 2050.
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Inaccessibility of lungs is one of the main limitations, since organs are not readily available which adversely affect the demand for the organ care system in the heart. Approximately 77% of the donor's lungs are left unused in the U.S. due to the limitations of cold storage. The availability of the donor is restricted and is perceived to be one of the greatest constraints on the sector. The survival duration is not as prolonged and not as good as other transplants such as the kidney or liver. Cold storage is one of the main constraints on the OCS lung industry for the high rate of post-transplant problems that will adversely affect the health of the recipient if storage is not sufficient. Cold Storage may pose a serious threat to the growth of the demand for the Lung Organ Care System.
This state-of-the-art technology enables hospitals and doctors to maximize the potential of a donor lung pair and to track the lungs throughout the entire process, ensuring that transplant teams may sustain organs in an optimal condition. TransMedics has established an organ care system, a medical device named the Organ Care System (OCS) preserves the integrity of the organ by supplying an externally controlled atmosphere that induces near-normal physiological conditions.
Trolley Based Sub-segment to Witness Significant Growth
By handling, the trolley based sub-segment valued for the largest share in market in 2018 with $795.0 thousand and is projected to witness substantial growth during the forecast period. This growth is mainly because trolley based handling is the most widely used in all organ storage centers.
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North America Market to Grow at the Highest CAGR
In 2018, North America is the major market in OCS market for lung. It is projected to grow at a CAGR of 23.0%. by $2760.2 thousands by 2026. The market is projected to grow with the increase in the lung diseases and presence of increased elderly population. Similarly, the Europe is also considered the major market followed by North America, which holds the maximum OCS lung market share in 2018 by $398.5 thousands and is projected to increase at 15.0% CAGR by generating a revenue of $1219.1 thousands by 2026.
Major Market Players
Some of the top players operating in the global organ care system market for lungs include -
- Transmedics
- Organ Assist B.V.
- Xvivo Perfusion AB
Further, the report presents and outlines various aspects of these major players such as business performance, latest developments, recent strategic moves, SWOT analysis, and product portfolio.
The players are adopting several strategies and applying numerous business tactics to acquire a leading position in the global industry. For instance, in June 2019, TransMedics Group, Inc., a leading medical technology company transforming organ transplant therapy for end-stage heart, lung, and liver failure, announced to have received the Food and Drug Administration Premarket approval (FDA PMA) for expanded clinical indications. This OCS Lung System can be used with both donors after circulatory death (DCD) and donor brain death (DBD).
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