New York, USA, Sept. 07, 2021 (GLOBE NEWSWIRE) -- As per the latest report by Research Dive states that the global organ care system market for lungs is expected to garner a significant revenue of $5.6 million by 2026 rising at a stable CAGR of 19.0% from 2019-2026.
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Market Analysis
Growth: The global OCS market for lungs is expected to experience immense growth due to the changes in lifestyle among people. These include excessive consumption of unhealthy food, lack of a proper diet, as well as absence of physical activity. To add further, one of the most prominent causes for the growth of the market is the smoking – a toxic habit found among a majority of the people today. Also, as stated by the World Health Organization (WHO), the presence of a large number of people belonging to the elderly category in a majority of the countries such as U.S, Japan and more has further contributed to the growth of the market.
Restraints: The absence of effective cold storage facilities at multiple locations is one of the factors responsible for the growth of the market being hampered. This is due to the complications that an individual could go through post-transplant as a result of the lack of proper storage of the organ. In the United States of America over 77% hearts that have been donated are still left unused as they aren’t stored in the ideal conditions required. Also, the survival rate of patients in lung transplant is lower than that of kidney of liver transplant procedures. Another prominent factor for the limited growth of the market is the lack of availability of donors.
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Segmental Analysis
The market is segregated into multiple segments based on handling and region.
Trolley Based Sub-Segment Expected to Gain Highest Market Share
By handling, the trolley based sub-segment garnered revenue of $795.0 thousand in 2018 and is expected to rise further at a CAGR of 19.7% from 2019-2026. This growth is primarily due to the widespread use of trolleys in a majority of the organ storage centers.
Regional Analysis
The North America region is set to witness a significant growth in revenue rising from $493.8 thousand in 2018 at a healthy CAGR of 24.0% in the analysis period. The region has been experiencing a significant increase in the number of people diagnosed with or at risk of lung diseases. To add further the population is also majorly comprised of the older people. These factors are anticipated to contribute to the rapid growth of the OCS lung market in the region.
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Key Market Players
The report contains a list of notable market players who have been ensuring the constant growth of the market. They are as listed below:
- Transmedics
- Organ Assist B.V
- Franz Kohler Chemie GmBH
- 21st Century Medicine
- Xvivo Perfusion AB
- Paragonix Technologies
- Essential Pharmaceuticals
- Shanghai Genext Medical Technology
The report provides an insight into the various initiatives by the industry experts such as mergers, partnerships & collaborations, and product launches.
In September 2020, Xvivo Perfusion AB, a global leader known for its contributions to OCS for lungs, acquired Organ Assist B.V, a renowned medical technology company. This initiative is expected to help the company gain more sales.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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