WASHINGTON, June 17, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Organ Preservation Market finds that Factors such as growing cases of organ failure across the globe, initiatives to stimulate organ donation, and increasing geriatric population in the developing & developed countries are accelerating the growth of Organ Preservation Market.
In addition, growing incidences of organ failures occurring worldwide as well as an excessive boom in the geriatric population, along with the various higher authorities providing favourable regulations across the globe are responsible for bolstering the growth of the Organ Preservation Market in coming years.
The Global Market revenue stood at a value USD 206.1 Million in the year 2021.
The Global Organ Preservation Market size is forecasted to reach USD 297.7 Million by the year 2028 and is expected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period; states Vantage Market Research, in a report, titled “Organ Preservation Market Size, Share & Trends Analysis Report by Solution (University of Wisconsin Solution (UW Solution), Custodial HTK, Perfadex, Other), by Technique (Static Cold Storage, Hypothermic Machine Perfusion, Normothermic Machine Perfusion), by Organ Type (Kidney, Liver, Lung, Heart), by End User (Organ Transplant Centers, Hospitals, Specialty Clinics), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
Driver:
Growing Geriatric Population and Subsequent Growth in Cases of Multiple Organ Failure
Multiple organ failure is the most common cause of death in ICUs, mostly caused by sepsis. It is expected that patients identified with sepsis develop acute renal failure and show acute respiratory failure (Source: Society of Critical Care Medicine). The senior citizen has a higher risk of acute renal failure due to an age-related decline in the glomerular filtration rate and the renal plasma flow. Diabetes will also increase the vulnerability to these situations and multiple organ failure. Diseases such as tuberculosis and liver cirrhosis are more common among geriatric individuals and make it required for individuals to undertake organ transplants. The growing prevalence of multi-organ failure and rapid improvements in the country’s healthcare infrastructure are also anticipated to accelerate the overall growth of the market. Development in the market is strongly driven by the increasing prevalence of multi-organ failure, the increasing number of geriatric people, the rising number of organ transplants and organ donors, and an increasing drive to encourage organ donations.
Growing Healthcare Investments
Governments across the globe are focusing on strengthening their healthcare infrastructures to provide more desirable healthcare facilities. This infrastructural expansion will result in an accelerated number of hospitals that treat more brain-dead patients who are probably acceptable donors. The growing number of testing laboratories will also enhance the time concerned with donor-recipient cross-matching, subject profiling, genotyping, and other associated diagnostic tests during the pre-transplantation period. These evolutions are predicted to create new opportunities for the Organ Preservation Market. The Organ Preservation Market, primarily based on organs, is classified into kidney, lungs, liver, heart, and others. Among these, the kidney category influences the market. This is assigned to the growing cases of renal and liver failure. The Organ Preservation Market in terms of end use is influenced by organ banks and hospitals & clinics. Between these, the organ banks department influence the market, as these banks are provided with technologically advanced merchandise that can keep the organ applicable and preserved for a prolonged duration.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Organ Preservation market is predicted to grow at a CAGR of roughly 6.3% during the forecast period.
- The Organ Preservation market was estimated to be worth roughly USD 206.1 Million in 2021 and is expected to reach USD 297.7 Million by 2028; based on primary research.
- On the basis of region, North America is projected to dominate the worldwide Organ Preservation market.
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Segmentation of the Global Organ Preservation Market:
- Solution
- University of Wisconsin Solution (UW Solution)
- Custodial HTK
- Perfadex
- Other
- Technique
- Static Cold Storage
- Hypothermic Machine Perfusion
- Normothermic Machine Perfusion
- Organ Type
- Kidney
- Liver
- Lung
- Heart
- Pancreas
- End User
- Organ Transplant Centers
- Hospitals
- Specialty Clinics
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/organ-preservation-market-1657
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The Report on Organ Preservation Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America Holds Largest Market Share
North America accounted to have largest growth for Organ Preservation Market in 2021. Due to a growing occurrence of chronic diseases, accompanying the developing geriatric population across the world, they are the key factors driving the boom in the market. As a consequence of the persistent occurrences of organ failures due to diabetes, cardiovascular disorders (CVDs), obesity, and different medical conditions, there is a growing need for Organ Preservation Market procedures. Furthermore, an increasing number of government and non-government policies and inventiveness to encourage organ donation are influencing the market blooming emphatically. The increasing numbers of independent implications of donating their organs for transplantation and research purposes are also driving the market. Other components, such as enhanced Research and Development (R&D) and tremendous improvements in the Organ Preservation Market infrastructure are also estimated to make a contribution to the market growth significantly. Hence, increasing the further demand for Organ Preservation Market further propels the market growth.
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on "Organ Preservation Market Size, Share & Trends Analysis Report by Solution (University of Wisconsin Solution (UW Solution), Custodial HTK, Perfadex, Other), by Technique (Static Cold Storage, Hypothermic Machine Perfusion, Normothermic Machine Perfusion), by Organ Type (Kidney, Liver, Lung, Heart), by End User (Organ Transplant Centers, Hospitals, Specialty Clinics), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/organ-preservation-market-636388
List of Prominent Players in the Organ Preservation Market:
- Paragonix Technologies (US)
- XVIVO Perfusion AB (Sweden)
- Dr. Franz Köhler Chemie GmbH (Germany)
- Essential Pharmaceuticals LLC (US)
- Trans Medics (US)
- Organ Ox Limited (UK)
- 21st Century Medicine (US)
- Shanghai Genext Medical Technology (China)
- Bridge to Life Limited (US)
- Waters Medical Systems (US)
- Preservation Solutions (US)
- Carnamedica (Poland)
- Transplant Biomedicals (Spain)
- Institut Georges Lopez (France)
- Global Transplant Solutions (US)
- Avionord (Italy)
- Organ Preservation Solutions (England)
- EBERS (Spain)
- S.A.L.F. (Italy)
- Biochefa (Poland)
- Vascular Perfusion Solutions (US)
- TX Innovations (Netherlands)
Recent Developments:
June 2021: Paragonix Technologies launched the LIVER guard Donor Liver Preservation System in both the US and Europe. This strategy expanded Paragonixs’ product offerings and strengthened their geographic presence.
October 2021: XVIVO Perfusion partnered with Contatti Medical (Brazil) to expand its business and gain access to a comprehensive network of transplantation centers in Latin America's largest country, Brazil.
July 2021: Institute Georges Lopez (Igl) (France) expanded its presence by setting up a manufacturing facility in Cheyyar, Tamil Nadu, India, for manufacturing medical devices and solutions for flushing and preservation of organs.
February 2021: Transmedics received premarket approval from the FDA for the OCS Heart System to be used with organs from donors after brain death (DBD).
November 2020: Dr. Franz Köhler Chemie GmbH (Germany) entered into a joint venture with Melchers Group and CICEL (Germany) to establish Köhler Pharmaceuticals (Beijing) Ltd. in China for the distribution of Custodiol HTK solutions for cardiac and transplant surgery in the Chinese market.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Organ Preservation Market?
- How will the Organ Preservation Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Organ Preservation Market?
- What is the Organ Preservation market drivers and restrictions?
- What will be the CAGR and size of the Organ Preservation Market throughout the forecast period?
This market titled “Organ Preservation Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
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| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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