NEWARK, Del, July 18, 2022 (GLOBE NEWSWIRE) -- As per Future Market Insights’ latest industry analysis, the global organ transport devices market was valued at around US$ 105.9 Mn in 2021 and is anticipated to exhibit a CAGR of 8.7% over the forecast period (2022-2032). Organ transplantation is referred to as a medical process, which involves removing an organ from one body and transplanting it into another body for replacing a missing or damaged organ.
Healthcare services and quality of care have improved as a result of technological advancements in the sector. Rising demand for organ transplantation is projected to drive research and development activities, as well as investments in new organ care products.
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For instance, in April 2021, TransMedics Group Inc. launched ‘Heart in a Box’ or the Transmedics Organ Care System (OCS) Heart. The portable organ care device can preserve and monitor hearts donated for transplant for up to three times longer than current methods.
Furthermore, to meet the increased need for organ transplantation, various bioengineering organizations are performing research and development activities. Governments are also providing funds to these companies to accelerate research work.
In July 2022, for instance, researchers from various institutions across the globe announced that the U.S. FDA may soon allow them to perform clinical trials that would involve transplantation of pig organs into humans. Therefore, rising number of clinical trials by key players is set to help the global organ transport devices market to reach US$ 265.1 Mn in 2032.
Moreover, key players operating in the industry are focusing on expanding their geographic presence by strengthening their distribution networks, initiating promotional activities, and enhancing customer services for the betterment of the brand and products. It would further push the organ transport devices market during the upcoming decade.
Key Takeaways: Organ Transport Devices Market
- By product, the cold or hypothermic perfusion devices segment held nearly 63.7% of the market share in 2021 and is expected to showcase a CAGR of 9.2% in 2022-2032.
- By organ, the kidney segment held about 62.0% of the market share in 2021 and is expected to exhibit a CAGR of 8.5% over the forecast period.
- By end user, transplant centers held the highest organ transport devices market share of around 67.4% in 2021.
- The U.S. organ transport devices market generated a robust share of approximately 92.4% in 2021.
- North America is considered to be the leading region and held a share of 36.9% in 2021 in the organ transport devices market.
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“Increasing procedural rate of organ transplantation and urgent need for organ transplantation procedures are projected to boost the global organ transport devices market share,” says an analyst of Future Market Insights.
Competitive Landscape: Organ Transport Devices Market
Key players in the global organ transport devices market, including Paragonix Technologies, TransMedics Inc., and EBERS Medical Technology SL. are engaging in collaborations with local brands to gain a competitive edge. These companies are aiming to expand their geographic presence and compete with other key players.
Some of the latest developments in the global organ transport devices market are:
- In December 2021, the University of Nebraska collaborated with Paragonix Technologies, a leading provider of donor organ preservation and transport systems, to boost organ donor reserves.
- In July 2021, Carolina Donor Services and TransMedics collaborated to develop a national organ care system that expands the number of lungs available for transplant. With this system, the lungs can be transported at a long distance and can save many lives.
- In January 2022, EBERS Medical Technology SL. won the tender to build a new generation of ex vivo normothermic perfusion system.
More Valuable Insights on Organ Transport Devices Market:
Future Market Insights brings a comprehensive research report on forecast revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the segments from 2017 to 2032. The global organ transport devices market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights on the organ transport devices market segment based on product (warm or normothermic perfusion devices and cold or hypothermic perfusion devices), organ (liver, heart, kidney, lung, and others), and end user (hospitals, transplant centers, and ambulatory surgical centers) across seven major regions.
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Organ Transport Devices Market Outlook by Category
By Product:
- Warm or Normothermic Perfusion Devices
- Cold or Hypothermic Perfusion Devices
By Organ:
- Liver
- Heart
- Kidney
- Lung
- Others (Pancreas, Small Intestine)
By End User:
- Hospitals
- Transplant Centers
- Ambulatory Surgical Centers
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
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About Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4. Key Success Factors
4.1. Regulatory Landscape
4.2. Pipeline Assessment
4.3. New Products Launches & Approvals
4.4. Product Adoption / Usage Analysis
4.5. Key Strategies Adopted by market players
4.6. Porter’s Analysis
4.7. PESTLE Analysis
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