Organ Preservation Market Highlights:
Organ Preservation is supplying line for organ transplantation. Organ transplantation has been the most successful and sophisticated technique that has been rising over the past 50 yrs. The global organ preservation market is majorly driven by the high prevalence of organ failures, increasing advancement in surgeries, increasing number of transplantation procedures, and growing penetration by market players.
Additionally, factors such as initiatives taken by government and NGO to encourage organ donation, availability of skilled personnel are likely to spur the growth of the market. However, factors such as high cost of organ preservation and its transplantation procedures, unavailability of the suitable donor as well as the development of organs by stem cell therapy are likely to hamper the growth of the market. Extensive research should be done preservation solutions to increase their efficacy to protect the organs from cellular damage and maintain its metabolic rate. This can accelerate the market growth by decreasing the gap between demand and supply.
The Organ Preservation market is expected to register a CAGR of 8.0% during the forecast period.
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Regional Organ Preservation Market Summary
The Americas dominates the global organ preservation market owing to the increasing geriatric population, which eventually leads to the increasing patient pool because of their vulnerability to organ failures. Additionally, the increasing burden of diabetes, cardiovascular disorder, diabetic nephropathy, and obesity rate along with rising government initiatives for the research and development of innovative and advanced products are likely to enhance the growth of organ preservation in the North American region. The American Heart Association estimated that 31% of the deaths in the U.S. were due to cardiovascular disorders in 2015. Similarly, according to the data from (CDC), in 2016, 38,170 deaths occurred due to liver diseases in the U.S. and 6.10% of the adults were diagnosed with liver diseases in the U.S. alone. This depicts the rising need for organ transplantation which is going to spur the organ preservation market growth.
Europe accounts for the second largest market due to the increasing rates of cardiovascular disorders and obesity. Additionally, the increasing government support and increasing healthcare infrastructure along with the increasing demand for minimally invasive treatments are driving the growth of the Organ Preservation market in Europe. For instance, Eurostat estimated that over 19.2% of the population in Europe was aged 65 and above. This increasing older population is likely to lead to the rising patient population because of them being prone to multiple organ failures. These factors are likely to drive the growth of the organ preservation market.
Asia Pacific is the fastest growing market for organ preservation whose growth is attributed to the rising population and improving the standard of living. Additionally, the increasing healthcare spending and demand for new and innovative treatment options are likely to drive the growth of the market. India, Singapore and Australia China are the major contributors to the market growth due to the rapid development of healthcare infrastructure and presence of regional headquarters of key players in these regions and increasing demand for diagnostic services.
On the other hand, the Middle East and Africa is expected to witness slow growth due to limited access to healthcare facilities and affordability issues among the population. In the Middle East, the growth of the market is driven by the increasing availability of new and advanced diagnostic and treatment methods for various chronic diseases.
Organ Preservation Market Key Players
LLC, Dr. Franz Kohler Chemie GmbH, Organ Recovery Systems, Xvivo Perfusion AB, Claris Lifesciences Limited, BioTime, Inc. Essential Pharmaceuticals LLC (U.S.), Dr. Franz Kohler Chemie GmbH, and Waters Medical Systems LLC (U.S.) among others.
Organ Preservation Market Segmentation
The Global Organ Preservation market is segmented on the basis of preservation solution, organ type, the technique of preservation, and end-user. Considering preservation solution, the market is segmented into perfadex, University of Wisconsin (UW) solution, custodiol HTK, celsior solution, citrate solutions, and collins solution.
By organ type, the market is segmented into liver, kidney, heart, lungs, and others.
With reference to technique of preservation, the market is segmented into static cold storage, and dynamic cold storage. The dynamic cold storage is further segmented into hypothermic machine perfusion, normothermic machine perfusion, and oxygen persufflation.
On account of end-user, the market is segmented into organ banks, hospitals and clinics, and others.
Based on region the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. Americas region is segmented into North America and South America. Similarly, Europe is segmented into Western Europe and Eastern Europe.
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