The Global Transplantation Market is expected to reach USD 51.0 billion by the year 2025, growing at a CAGR of 9.1%, according to a new report by Hexa Reports. Growing incidence of organ failure has resulted in massive growth in the transplantation market. Rising demand for transplant products such as tissue products, immunosuppressants, and organ preservation solutions is a major factor anticipated to boost growth of the market during forecast period. Thus, many biotechnology and medical device companies have begun to concentrate on the development of advanced transplant products for management of organ failure.
Technological advancement in organ transplantation methods is another major factor supporting the market growth. The development of novel & improved transplant products such as tissue products and surgical instruments has majorly contributed to the expansion of the sector. In addition, introduction of advanced tissue products such as DeNovo NT Graft, Chondrofix Osteochondral Allograft, and DuraMatrix Collagen Dura Substitute Membrane provides higher benefits during treatment. In addition, computerized support systems with advanced systems and software allow easy & effective maintenance of tissues. Thus, availability of such advanced techniques supports increase in the number of organ transplant procedures.
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Further key findings from the report suggest:
- Tissue products segment was the largest revenue-generating amongst others due to escalating number of tissue and organ transplant procedures
- Tissue products segment is also expected to grow at highest CAGR owing to advancement in transplantation products
- Tissue transplant segment held the largest revenue share in the market, because of rising number of skin, bones, heart valves, cornea, tendons, nerves, and veins procedures worldwide
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- The transplant centers segment is projected to grow at the highest CAGR during the forecast period owing to rising popularity of these centers for transplant procedures
- The hospitals segment dominated the market in terms of revenue in 2016 owing to a large number of transplant procedures performed in hospitals
- North America was the leading regional sector in 2016 and is projected to maintain its dominance during the forecast period owing to well-developed healthcare infrastructure
- Existence of large number of research laboratories, biotechnology, and medical device companies in the North America region is the major factor contributing to its large share
- Some of the major players include AbbVie, Inc.; Arthrex, Inc.; Zimmer Biomet; Medtronic; Novartis AG; Stryker; 21st Century Medicine; BioLifeSolutions, Inc; Teva Pharmaceuticals; and Veloxis Pharmaceuticals.
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