Pune, India, March 24, 2021 (GLOBE NEWSWIRE) -- The global transplantation market size is expected to reach USD 14.67 billion by 2028, exhibiting a CAGR of 10.6% during the forecast period. The rising prevalence of chronic diseases coupled with technological advancements will spur business opportunities for this market, states Fortune Business Insights, in a report, titled “Transplantation Market, 2021-2028.” The market size stood at USD 5.47 billion in 2020.
Key Development:
September 2019: CareDx announced a strategic partnership with NanoString to expand its product portfolio. Through this partnership, the company will enhance the development of molecular assays in transplantation and improve transplant diagnostics.
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COVID-19 Impact:
Declined Organ Transplantations to Thwart Market amid Coronavirus
The spread of coronavirus exerted enormous pressure on the healthcare industry, thus restricting the growth of the market. The surging coronavirus cases have compelled governing bodies to postpone elective and non-urgent surgeries in hospitals and ambulatory care centers.
The reduced number of organ donors for organ transplant surgeries due to COVID-19 infection will further dampen the transplantation market growth. For instance, in May 2020, the Italian National Authority for Transplantation released a document guiding that all donor patients must be tested negative for SARS-CoV-2. Potential positive donor organs have to be discarded.
IncreasingGeriatric Population to Stimulate Growth in Asia Pacific
The market in North America is expected to experience steady growth during the forecast period due to the well-developed healthcare infrastructure. The presence of leading players will further augment growth in the region. Moreover, the introduction of novel therapies will bolster the healthy development of the market in North America. Europe is expected to rise exponentially during the forecast period due to the increasing investments in R&D activities.
The large patient population in European countries is expected to promote growth in the region. Asia Pacific is expected to expand radically during the forecast period due to the surging chronic diseases. The increasing geriatric population is expected to enable speedy expansion in Asia Pacific. Latin America, and the Middle East, and Africa are expected to rise sluggishly due to the low adoption of high-cost transplants in the regions.
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The Tissue Segment to Dominate the Market
Based on product type, the market is classified into tissue products, immunosuppressive drugs, and preservation solutions. The tissue segment is expected to account for the largest due to the advent of new, improved products, including Chondrofix Osteochondral Allograft, DeNovo NT Graft, DuraMatrix Collagen Dura Substitute Membrane. Furthermore, immunosuppressive drugs are expected to experience rapid growth due to the growing adoption of these drugs to prevent post-transplant organ or tissue rejection.
IncreasingGeriatric Population to Stimulate Growth in Asia Pacific
The market in North America is expected to experience steady growth during the forecast period due to the well-developed healthcare infrastructure. The presence of leading players will further augment growth in the region. Moreover, the introduction of novel therapies will bolster the healthy development of the market in North America. Europe is expected to rise exponentially during the forecast period due to the increasing investments in R&D activities.
The large patient population in European countries is expected to promote growth in the region. Asia Pacific is expected to expand radically during the forecast period due to the surging chronic diseases. The increasing geriatric population is expected to enable speedy expansion in Asia Pacific. Latin America, and the Middle East, and Africa are expected to rise sluggishly due to the low adoption of high-cost transplants in the regions.
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The Report Lists the Key Companies in this Market:
- Novartis International AG (Basel, Switzerland)
- AbbVie Inc. (Illinois, U.S)
- Arthrex, Inc. (Florida, U.S)
- Biolife Solutions (Washington, U.S)
- Teva Pharmaceutical (Petah Tikva, Israel)
- Veloxis Pharmaceuticals, Inc. (Denmark)
- CareDx. (California, U.S)
- TransMedics, Inc. (Andover, MA)
- Other Players
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Number of Major Organ Transplantation, Key Region/Country
- Key Industry Developments- Mergers, Acquisitions and Partnerships
- Overview of Regulatory Scenario
- Key Industry Trends
- Impact of COVID-19 on the Market
- Global Transplantation Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Tissue Products
- Immunosuppressive Drugs
- Preservation Solutions
- Market Analysis, Insights and Forecast – By Application
- Organ Transplantation
- Tissue Transplantation
- Market Analysis, Insights and Forecast – By End-user
- Hospitals
- Transplantation Centers
- Others
- Market Analysis, Insights and Forecast – By Country
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Transplantation Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis – By Product Type
- Tissue Products
- Immunosuppressive Drugs
- Preservation Solutions
- Market Analysis – By Application
- Organ Transplantation
- Tissue Transplantation
- Market Analysis – By End-user
- Hospitals
- Transplantation Centers
- Others
- Market Analysis – By Country
- U.S.
- Organ Transplantation
- Tissue Transplantation
- Canada
- Organ Transplantation
- Tissue Transplantation
- U.S.
TOC Continued….!!!
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