Dublin, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The "Global Organ Preservation Solutions Market: Analysis By Type, By Technique, By Organ Type, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.
The global organ preservation solutions market in 2022 was valued at US$242.94 million. The market is expected to be worth US$356.98 million in 2028. The market is expected to grow at a CAGR of approx. 6.70%during the forecasted period of 2023-2028.
Organ preservation solutions are referred to as the solutions used to store organs and minimize tissue damage, particularly while awaiting implantation. These are used to protect organs prior to transplantation because organs in the outer environment often collapse once removed from the human body.
The liver, pancreas, spleen, kidneys, adrenal glands, heart, lung, kidneys, stomach and intestines, thymus, skin, brain, eyes, thyroid, and joints can be preserved using these solutions and used for an organ transplant. Therefore, rising need for organ transplantation is one of the main factors that would drive the demand for organ preservation solutions in the forthcoming years.
The report provides the bifurcation of organ preservation solutions market into four segments on the basis of technique: Static Cold Storage, Hypothermic Machine Perfusion, Normothermic Machine Perfusion, and Others.
Due to the rising number of incidences of organ failures leading to growing organ transplantation and research activities, static cold storage technique dominated the market in 2022. However, normothermic machine perfusion is expected to be the fastest-growing segment in the coming years.
This technique provides the organ with enough nourishment and oxygen to allow aerobic metabolism. It also contributes to better transplant results and minimises the likelihood of post-transplantation side effects. It is mostly utilised for liver preservation, but it also allows for the effective preservation of other organs. As a result, such benefits are likely to drive market expansion throughout the forecast period.
The report identifies five segments on the basis of organ type: Kidney, Lung, Liver, Heart and Others. The kidney segment held the largest market share in 2022. Increasing cases of kidney failures and number of kidney transplant procedures across the globe are the major factors influencing the segment growth. Moreover, several public awareness campaigns related to the benefits of kidney transplant are also anticipated to promote segment growth.
North America accounted for the largest share in the global organ preservation solutions market in 2022. Because of the rising acceptance of innovative healthcare technologies, high prevalence of chronic kidney diseases and heart failure, and increasing investments for improving healthcare infrastructure, North America and Europe are projected to be major markets over the forecast period.
The Asia Pacific region is expected to be the fastest-growing market, because of increasing healthcare expenditure, rising patient awareness, and growing need for organ transplantation procedures. Furthermore, in the coming years, the significantly growing aging population and increasing incidence of kidney and heart failure in countries such as China and India would boost the usability of organ preservation solutions.
Market Dynamics:
The market has been growing over the past few years, due to factors such as surging prevalence of various chronic diseases, upsurge in healthcare expenditure, growing incidence of new cancer cases, and rising need for organ transplantation. Geriatric population forms a large part of organ transplant practice demographics.
Moreover, the poor compliance with treatment, poor tolerance of therapy and the presence of underlying or associated diseases makes the elder age group more vulnerable to organ failures. Thus, the need for organ transplants is growing as the global population ages, which in turn, has augmented the growth of the global organ preservation solutions market.
The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as increasing government & NGO initiatives to encourage organ donation, surging obesity rates, growth in medical tourism. The development of organ preservation technologies is expected to be fueled by growing interest in organ transplantation procedures across the globe.
Similarly, developing mechanically propelled techniques for saving organs support the growth of organ preservation solution market.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 pandemic negatively impacted the global organ preservation solutions market, resulting in a significant influence on organ donation and transplantation around the world. The pandemic drastically curtailed donation and transplant activities around the world, resulting in a drop in demand for organ preservation solutions.
Post-COVID, the global market has been rebounding, driven by technological advancements, and extensive research and development for innovative preservation techniques, including the use of antiviral agents in preservation solutions, thus reshaping the organ preservation solutions landscape.
Competitive Landscape:
The global organ preservation solutions market is moderately fragmented.
Collaborations, new product development, investments connected to growing capabilities, mergers and acquisitions, partnerships and agreements, and investments in research and development are just a few of the major strategies used by the players.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 161 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $258.12 Million |
| Forecasted Market Value (USD) by 2028 | $356.98 Million |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
Market Dynamics
Growth Drivers
- Escalating Geriatric Population
- Surging Prevalence of Chronic Diseases
- Upsurge in Healthcare Expenditure
- Growing Incidence of New Cancer Cases
- Rising Need for Organ Transplantation
Challenges
- Advent of Stem Cells
- High Cost of Organ Transplant Procedures & Available Alternatives
Market Trends
- Excessive Alcohol Consumption
- Surging Obesity Rates
- Growth in Medical Tourism
- Increasing Government & NGO Initiatives to Encourage Organ Donation
Company Profiles: Business Overview, Operating Segments, Business Strategy
- XVIVO Perfusion AB
- TransMedics Group, Inc.
- Artivion, Inc.
- BioLife Solutions, Inc.
- Teva Pharmaceutical Industries Ltd.
- Paragonix Technologies, Inc.
- Bridge to Life Ltd.
- OrganOx Limited
- Bristol-Myers Squibb
- Accord Healthcare Limited
- Perfusion Solution, Inc.
- Global Transplant Solutions
For more information about this report visit https://www.researchandmarkets.com/r/qr5uoo
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