New York, USA, Sept. 21, 2021 (GLOBE NEWSWIRE) -- According to a recent report by Research Dive, the global organ care system for liver market is forecasted to reach $42.7 million by the end of 2026 at a CAGR of 9.3%, increasing from $21.1 million in 2018. The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Impacting the CAGR Figures Pre and during COVID-19
The report reveals the real-time CAGR registered by the market during the pandemic. According to the report, the organ care system for liver market has recorded a CAGR of 9.3% during recent months, while it was estimated to be 8.5% in the pre-pandemic scenario. The main factor behind the growth is the rising cases of liver failure due to the huge amount of alcohol consumption. Liver failure requires immediate transplant surgery to save the life of the patient. This reason has impacted the market growth during the pandemic timeframe.
Portable Segment Is Predicted to Have the Highest Growth Rate
On the basis of handling, the organ care system market for liver is segmented into trolley based and portable. Portable segment was accounted for $9.1 million in 2018 and is predicted to grow at a CAGR of 9.8% in the forecast period. Easy to carry and lesser space acquisition is predicted to boost the segment in the forecast period.
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Factors Affecting the Market Growth
As per our analysts, Rise in the chronic diseases in liver is estimated to be the major driving factor for organ care system market for liver in the forecast period. Moreover, treatment cost for liver transplant is very high which is predicted to hamper the market growth in the forecast period.
Factors Impacting the Revenue before and after the Pandemic
According to the report, the real-time market size has been increased compared to the pre-COVID-19 estimations. The real-time market has generated revenue of $25.2 million, while it was estimated to be $24.8 million in a pre-COVID analysis. The main reason attributing to the growth of the market is the large amount of investments made into the research and development by the major players of the industry, so that the demand of the OCS devices can be fulfilled in a timely manner. This is the main reason behind the growth of the market during the pandemic.
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Key Players of the Market & Strategies
The leading players of the global organ care system for
- Organ Assist B.V.
- XVIVO Perfusion AB
- TransMedics Inc.
- Paragonix Technologies Inc.
- Preservation Solution Inc.
- Bridge to Life Ltd.
- Organ Transport System Inc.
- Organ Recovery Systems Inc.
- OrganOx Limited
- Water Medical System LLC
- Preservation Solution Inc.
and many more. These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in March 2021, X2O Media, a global leader in virtual collaboration technology for enterprises, and TransMedics Inc., a medical technology company transforming organ transplantation, successfully completed the installation of the X2O Collaboration Room to provide an immersive virtual training environment to the clinical users of their brand new Organ Care System (OCS™) technology around the world. TransMedics is looking forward to take the leverage of the X2O Collaboration Room and provide advanced training to the transplant surgeons and experts.
Post Pandemic Insights
The all-inclusive report has revealed the global organ care system for liver market is going to witness significant growth even after the pandemic. The increasing chronic diseases related to liver across the world are expected to sustain the growth of the market in the upcoming years. Furthermore, growing investments by government bodies for the advanced research and development of the organ care systems is another factor that is expected to help the market post the pandemic.
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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