Newark, NJ, May 04, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global transplantation market is expected to grow from USD 8.9 billion in 2020 and to reach USD 21.87 billion by 2028, growing at a CAGR of 11.9% during the forecast period 2021-2028.
The global transplantation market has witnessed significant growth in recent years. This growth is attributed to the rising demand for novel tissue transplantation for treating organ failure, increasing demand for transplant products like immunosuppressants, tissue products, organ preservation solutions, and technological advancements. Other factors contributing to the growth of the market include rising incidences of acute diseases that lead to organ failure and increasing focus of transplantation companies on the protection of the brand.
In medicine, a transplant is a part of a tissue or an entire organ that is separated from its natural site and transplanted to a new location in the same person or a different person. Transplants can be for tissues, cells, limbs, and organs. When organs or tissues are transplanted from one individual to another, the recipient's immune system may reject and kill the donor organ or tissue, necessitating the use of medication to suppress this immune response. An allotransplant is a transplant between two individuals who are not genetically similar, and the procedure is known as allotransplantation. Donor organs and tissues may come from living people or those who have died as a result of a severe brain injury or a loss of circulation.
The global transplantation market is expected to witness significant growth, owing to the increased renal diseases, growing incidences of organ failure, change in habitat that leads to organ failure, and increasing concentration of the development of advanced transplant products by medical device and biotechnology companies. The factors restraining the market growth are the high cost associated with transplantation procedures, increasing incidence of organ failure and limited supply of the organs, and ethical and cultural issues.
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The key players operating in the global transplantation market are Medtronic Plc, Zimmer Biomet, Stryker Corp., Biolife Solutions, AbbVie Inc., Biolife Solutions, Veloxis Pharmaceuticals, 21st Century Medicine, and Teva Pharmaceutical. To gain a significant market share in the global transplantation market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- For instance, in September 2020, CollPlant Biotechnologies, an Israel-based company collaborated to include 3D bioprinting in the development of human kidneys for transplant.
- In May 2020, Allergan was acquired by AbbVie to strengthen its distribution channel and product portfolio.
Tissue products segment dominated the market and held the largest share of 47.5% in the year 2020
On the basis of type, the global transplantation market is segmented into tissue products, preservation solutions, and immunosuppressive drugs. Tissue products segment dominated the market and held the largest share of 47.5% in the year 2020. This growth is attributed to the new product development, and increasing demand for transplantation procedures like heart valves, cochlear, orthopedic soft tissue, and bone marrow. The immunosuppressive drugs are anticipated to grow, owing to the increasing usage of drugs to prevent post-transplant tissue or organ rejection, increasing demand for organ replacements, and increasing prevalence of chronic diseases. The preservation solutions segment is expected to grow due to increasing demand for organ transplant procedures and rising cases of organ failure.
Tissue transplantation segment dominated the market and held the largest share of 58.3% in the year 2020
On the basis of application, the global transplantation market is segmented into tissue transplant and organ transplant. Tissue transplantation segment dominated the market and held the largest share of 58.3% in the year 2020. This growth is attributed to the rising preferences for cornea, bones, skin, tendons, heart valves, nerves, and vein replacements, and an increasing number of accident and burn cases. The organ transplantation segment is anticipated to witness significant growth, due to the increasing number of transplantations globally and advancements in transplantation technology.
Hospital segment dominated the market and held the largest share of 51.9% in the year 2020
On the basis of end-user, the global transplantation market is segmented into transplant centers, hospitals, and others. Hospital segment dominated the market and held the largest share of 51.9% in the year 2020. This growth is attributed to the availability of organs aiding in rapid medical intervention and the growing number of tissue and organ transplantation in hospitals. The transplant centers are expected to grow, owing to the rising need for advanced healthcare centers and increasing demand for transplantation procedures.
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Regional Segment of Transplantation Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global transplantation market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America held the major share of 41% in the year 2020. This growth is attributed to the development in the medical sector, rising prevalence of organ failure, rapid development in the medical sector, and rising healthcare expenditure. The Asia-Pacific region is anticipated to witness significant growth, owing to the large population pool suffering from chronic disorders, presence of rapidly developing economies, and improvement in healthcare infrastructure in countries like Thailand, India, Philippines, and Indonesia, and increasing research on stem cells to develop in vitro tissue.
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About the report:
The global transplantation market is analyzed on the basis of value (USD billion). All the segments have been analyzed on a global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors position grid analysis.
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