Organ Transplant Market – Insights
Organ transplantation is performed to replace damaged or not functional organ of an individual. Organs for transplantation can be obtained from living donor, deceased donor or from an animal. An artificial organ can also be used in some scenarios. Kidney, heart, liver, pancreas, lung, and intestine are some of the most widely transplanted organs. Simultaneously, two organs can also be transplanted such as kidney and pancreas transplant and heart and lungs transplant.
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Organ Transplant Market: Drivers
Chronic diseases and extensive smoking and alcohol consumption may lead to organ failure. Therefore, a major factor boosting growth of the global organ transplant market is increasing cases of organ failure. For instance, according to the World Health Organization (WHO) Global Observatory on Donation and Transplantation in 2014, an estimated 119,873 organs were transplanted, annually. Furthermore, high number of people awaiting organ transplant is also expected to boost growth of the market. For finance, according to the data published by National Kidney Foundation, U.S in 2016, around 121,678 people were waiting for an organ transplant, among which 100,791 people were waiting for kidney transplant.
Other factors that contribute to growth of the market include, advancements in surgical techniques and treatment strategies, introduction of novel anti-infective and immunosuppression techniques that decrease the rate of organ rejection after transplantation, and development of organ preservation and organ procurements.
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Organ Transplant Market: Restraints
Factors hindering growth of the market include, high cost of transplantation, stringent ethical policies, lack of reimbursement, organ trafficking, and low supply of organs.
Organ Transplant Market Taxonomy
On the basis of organ type, the organ transplant market is segmented into:
On the basis of region, the organ transplant market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East
Organ Transplant Market: Regional Analysis
The market in North America is expected to hold dominant position, followed by Europe. This is attributed to technological advancements in medical surgeries and drugs involved in transplantation and developed healthcare infrastructure in the region.
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Organ Transplant Market: Competitive Landscape
Key players in the market depend on organ donation. Increasing awareness regarding organ donation, proximity to key suppliers, adherence to government regulations, and ready access to volunteer labor is expected to create lucrative growth opportunities for the market players.
Major players operating in the global organ transplant market include Transplant Biomedical, Preservation Solution, TransMedic, Organogenesis Incorporated, Terumo Co., OrganOX, WorldHeart Co., Waters Medical systems, and Jarvik Heart Incorporated.
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