Global Organ Transplantation Market is expected to grow at a CAGR of 9.8% till 2023 – asserts MarketResearchFuture.com Organ Transplantation Market Research Report, By Type Of Organ (Heart, Kidney, Others), By Products (Organ Preservation Solutions, Transplant Diagnostics, Tissue Products), By Type Of Transplant (Autograft, Allograft And Others), By Treatment (Analgesic, Immunosuppressant And Other), By End Users (Hospitals, Transplant Centers And Other) – Global Forecast Till 2023
Organ transplantation involves the process of replacing the diseased and damaged organ of an individual with a healthy organ. It is one of the great advancements in the modern healthcare landscape. This medical procedure has evolved and advanced over the years, thereby enhancing the clinical effectivity of the same. Organs are donated by either some living donor or it is harvested from the brain-dead organ donors. Dysfunction of the organ caused due to diseases like cancer, severe injuries, failure of the organ, and due to genetic disorders require the need for organ transplant procedures. Organs such as heart, liver, lungs, kidney, and many more can be transplanted through this procedure.
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The transplantation process is carried out primarily with the brain-dead patient whose other organs are in a healthy state and can be used to save the life of another person. An increasing number of organ transplantation surgeries undertaken globally is one of the major drivers of the organ transplantation market. Increasing prevalence of chronic diseases, advancements in technology, changing lifestyle of individuals, and the rising aging population are some of the other key factors influencing the growth of the global market.
However, at the same time, it is worth noting that the high treatment cost and increasing incidences of organ failure can severely hamper the projected growth of the market. The global organ transplantation market, as per the study conducted by Market Research Future (MRFR), is expected to attain a compound annual growth rate of 9.8% during the forecast period of 2017 to 2023.
Key Players for Global Organ Transplantation Market
Veloxis Pharmaceuticals A/S (Denmark), Transonic (US), F. Hoffmann-La Roche Ltd. (Switzerland), Accord Healthcare GmbH (Spain), Novartis International AG (Switzerland), Terumo Medical Corporation (US), Bio Med Pvt. Ltd. (US), Transplant Biomedical (UK), Astellas Pharma, Inc (Japan), TransMedic, Inc. (US), OrganOX Limited (UK), Sanofi (France), Pfizer, Inc. (US), Preservation Solutions, Inc. (US), GlaxoSmithKline Plc. (UK) are some of the leading companies competing in the global organ transplantation market.
March 28th, 2019, in a first, surgeons from Baltimore performed the first-ever kidney transplant from a living donor with HIV condition. The news is a milestone for patients with acquired immunodeficiency syndrome (AIDs virus) who need a new organ.
April 4th, 2019, Paragonix Technology, a Boston-based tech company, revealed that it has developed a new organ transport system that would be much safer and more efficient than the traditional measure. The new transport system will boast capability of controlling the temperature of the organ and stretches the viability past the standard window of four-hours.
Segments for Global Organ Transplantation Market
The Global Organ Transplantation Market segmentation is done as per the following dynamics: type. End-users, products, and treatment.
By type, the market comprises of lungs, heart, liver, kidney, and others.
By products, the market segments into tissue products, organ preservation solutions, transplant diagnostics, and others.
By type of treatment, the market includes immunosuppressant, analgesic, and other. Immunosuppressant is narrowed down into mTOR inhibitor, calcineurin inhibitors, steroids, antiproliferative agents, and other. Whereas calcineurin inhibitors are divided into tacrolimus and cyclosporine. And, mTOR inhibitor is broken down into sirolimus and everolimus.
By type of transplant, the market includes allograft, xenograft, autograft, allotransplantation, xenotransplantation, and others.
By end users, the market comprises transplant centers, hospitals, and others.
Regional Analysis for Global Organ Transplantation Market
The regional segmentation of the Organ Transplantation Market covers the following regions: Europe, Americas, Asia Pacific, and the Middle East and Africa.
America holds the largest share of the market in the global standings of organ transplantation. This is due to the increasing prevalence of chronic diseases. Other key factors influencing the growth of the market in this region are the rising aging population, an increase in the number of organ transplantation cases, and striking developments in technology.
Europe stands second in the global organ transplantation market due to various essential factors or drivers. The regional market is driven by the developed infrastructure, encouragement for the emergence of new organizations, and increasing expenditures on healthcare.
Asia Pacific is expected to grow at a notable pace in the near future and cement its position as one of the key regions in the global organ transplantation market. Factors such as fast-paced development in the healthcare industry, presence of a huge patient population pool, and the availability of skilled professionals are the major growth drivers of the market. However, in the Middle East and Africa region, the poor economical condition coupled with the limited growth of the healthcare sector is expected to be responsible for the meagre growth of the region.
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