New York, USA, June 13, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the organ care system market for lungs is envisioned to generate a revenue of $5.6 million and grow at a noteworthy CAGR of 19.0% over the estimated timeframe from 2019 to 2026.
As per our analysts, with the increasing number of the elderly population, rising level of air pollution, and the lack of physical activities among individuals, the organ care system market for lungs is expected to witness significant growth over the analysis period. Moreover, the increasing inclination toward unhealthy food habits, and improper diets among people which directly affect their lifestyle, is the major factor expected to propel the growth of the market during the estimated period. However, the cold storage system for lungs to avoid post-transplant complications may hinder the growth of the market throughout the forecast period.
Segments of the Organ Care System Market for Lungs
The report has divided the market into segments based on handling and region.
Handling: Trolley Based Sub-Segment to be Most Lucrative
The trolley-based sub-segment accounted for $795.0 thousand in the year 2018 and is predicted to grow at a healthy CAGR of 19.7% over the analysis timeframe. The increasing use of the trolley-based system in all organ storage centers is expected to foster the growth of the market sub-segment over the analysis period.
Region: North America Region to Have Huge Growth Opportunities
The North America region held the largest share of the organ care system market for lungs by generating $493.8 thousand in 2018 and is projected to rise at a noteworthy CAGR of 24.0% during the forecast timeframe. This is mainly because of the increasing incidences of lung diseases among people of this region. In addition, the presence of a large geriatric population in this region is predicted to drive the regional growth of the market during the estimated period.
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Key Players of the Organ Care System Market for Lungs
The major players in the organ care system market for lungs include
- Xvivo Perfusion AB
- Organ Assist B.V
- Transmedics
These players are broadly working on the development of new business strategies and tactics such as mergers and acquisitions, partnerships and collaborations, and product development to obtain leading positions in the global industry.
For instance, in March 2021, TransMedics Inc., a leading medical technology company performing revolutionary organ transplantation, announced its collaboration with X2O Media, a global provider of visual communication solutions for the digital workplace. With this collaboration, TransMedics aims to provide high-quality virtual education and training to transplant surgeons and clinicians worldwide by leveraging the X2O collaboration room.
Further, the report also presents other crucial aspects including product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategic developments.
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