New York, US, April 28, 2022 (GLOBE NEWSWIRE) -- Organ Preservation Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Organ Preservation Market Information by Solution, Preservation Techniques, Organ Type, End User, Region - Forecast till 2027”, the market is touted to surpass USD 304.68 million by 2027, assesses Market Research Future (MRFR). MRFR further reveals that the worldwide market size will be expanding at a rate of 6.48% from 2021 to 2027.
Market Scope:
Organ preservation is organ transplantation’s supply line. At present, liver, kidney and pancreas can be preserved for at least two days by rinsing these using the University of Wisconsin (UW) organ preservation solution or by storing these at hypothermia/0-5 degrees C.
The UW solution is highly effective since it uses numerous cell impermeant agents like lactobionic acid, hydroxyethyl starch and raffinose, which bring down inflammation of the cells during cold ischemic storage. Mounting number of organ transplant procedures will ensure smooth progress of the organ preservation market between 2021 and 2027.
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Market Competitive Analysis:
The prominent firms in the organ preservation market include:
- TransMedics Group, Inc (US)
- Bristol Myers Squibb (US)
- Artivion, Inc (US)
- Xvivo Perfusion AB (US)
- Accord Healthcare Limited (UK)
- Franz Köhler Chemie GmbH (Germany)
- 21st Century Medicine (US)
- BioLife Solutions, Inc (US)
- Shanghai Genext Medical Technology Co., Ltd (China)
- Paragonix Technologies Inc (US)
- Waters Medical Systems (US)
Market USP Covered
Market Drivers
The surging number of organ transplantation procedures worldwide along with the heightened instances of multiple organ failure are propelling the growth of the organ preservation market. A report posted by the Health Resources & Services Administration reveals that in 2020, close to 40,650 organ transplantation surgeries were conducted in the United States. Reports also confirm that close to 19,665 donors were recorded in 2020, of which 11,800 were deceased donors while 8,900 were living donors.
Furthermore, several awareness campaigns worldwide will leave a positive impact on the worldwide market. For example, the 12th of October is the European Day for Organ Donation & Transplantation. In addition to this, a report by the Council of Europe said that in 2021, 50,000 patients went through organ transplantation in Europe. Hence, these instances and their rising number can encourage the market growth for organ preservation in the years to follow.
Browse In-depth Market Research Report (169 Pages) on Organ Preservation: https://www.marketresearchfuture.com/reports/organ-preservation-market-6073
Market Restraints
Organ-related disorders have become a worldwide public health issue. Organ transplantation raises the chances of survival while enhancing the quality of life of the ones undergoing them.
With that said, substantial costs related to organ transplantation can be a major restraining factor for the organ preservation market.
COVID-19 Analysis
The year 2020 took an unexpected turn with the COVID-19 outbreak, in line with the massive economic loss faced by several industries worldwide, which includes the healthcare industry. The COVID-19 pandemic exacerbated the circumstances by hitting the healthcare industry (among various other industries) while disrupting the supply chains. The pandemic has been detrimental to the geographic atrophy market, with the market vendors shutting down their production facilities or having to keep their facilities working much below the actual production capacities to prevent the spread of the novel coronavirus.
On the brighter side, with the lifting of the lockdown as well as trade restrictions, the organ preservation market can expect to gain major traction in the ensuing years.
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Segment Overview
Solution-wise, the key segments can be Custodial HTK, University of Wisconsin Solution, Celsior Solution, Collins Solution, Citrate Solution, and Perfadex.
Preservation Technique-based segments can be Static Cold Storage as well as Dynamic Cold Storage.
Depending on Organ Type, the segments are Liver, Kidney, Lungs, Heart, and more.
Top end-users are Organ Banks, Hospitals & Clinics, and more.
Regional Analysis
the Americas dominated the global organ preservation market due to a variety of factors, including the rising number of organ transplant procedures, increasing instances of multiple organ failure, and growth in the geriatric population. North America along with Latin America are two of the major continents that make up the American market. North America can be segregated into the US as well as Canada. The biggest market in North America belongs to the US, thanks to the rising prominence of chronic diseases like cardiovascular diseases and chronic kidney disease. The surging number of organ transplant procedures in the country also enhances the organ preservation market share. The Centers for Disease Control and Prevention says that in 2021, over one in seven, which makes 15% of the total US adults, or around 37 million people, suffer from chronic kidney disease.
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Europe is the second top gainer in the worldwide market, holding a healthy share and will continue to thrive at a sturdy pace between 2020 and 2027. The presence of modern treatment facilities along with the accelerated cases of fatty liver disease in the region bolsters the market worth to a large extent. Europe has some of the most established and advanced health care systems in the world. With 4.8 doctors per 1,000 citizens, Italy has the highest ratio worldwide. The WHO says that France has the top-ranking healthcare system worldwide.
Asia Pacific will be garnering the fastest advancement rate in the coming years, thanks to the advancing healthcare infrastructure as well as the rising disposable incomes in emerging countries like Japan, China and India. The surge in healthcare infrastructure ensures a significant level of research-based activities in the region. Other than this, numerous developing countries in the region are trying to improve their pharmaceutical markets, which encourages international corporations to set up their operations in the region. This helps facilitate the growth of the organ preservation market in the region.
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