DUBLIN–(BUSINESS WIRE)–The “Global Organ Preservation Solutions Market: Analysis By Type, By Technique, By Organ Type, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global organ preservation solutions market in 2022 was valued at US$242.94 million. The market is expected to be worth US$356.98 million in 2028.
Organ preservation solutions are referred to as the solutions used to store organs and minimize tissue damage, particularly while awaiting implantation. These are used to protect organs prior to transplantation because organs in the outer environment often collapse once removed from the human body.
The liver, pancreas, spleen, kidneys, adrenal glands, heart, lung, kidneys, stomach and intestines, thymus, skin, brain, eyes, thyroid, and joints can be preserved using these solutions and used for an organ transplant.
Therefore, rising need for organ transplantation is one of the main factors that would drive the demand for organ preservation solutions in the forthcoming years. The market is expected to grow at a CAGR of approx. 6.70% during the forecasted period of 2023-2028.
Market Dynamics
Growth Drivers
- Escalating Geriatric Population
- Surging Prevalence of Chronic Diseases
- Upsurge in Healthcare Expenditure
- Growing Incidence of New Cancer Cases
- Rising Need for Organ Transplantation
Challenges
- Advent of Stem Cells
- High Cost of Organ Transplant Procedures & Available Alternatives
Market Trends
- Excessive Alcohol Consumption
- Surging Obesity Rates
- Growth in Medical Tourism
- Increasing Government & NGO Initiatives to Encourage Organ Donation
Market Segmentation Analysis:
- By Type: The report identifies four segments on the basis of type: University of Wisconsin Solution, Custodial HTKs, Perfadex, and Others. Among the type, University of Wisconsin Solution dominated the market. University of Wisconsin (UW) solution’s wide usage in cold storage solution, which has increased early pancreas graft function and decreased the incidence of preservation pancreatitis is the primary reason that is expected to increase the usability of University of Wisconsin (UW) solution in the organ preservation solutions market.
- By Technique: The report provides the bifurcation of organ preservation solutions market into four segments on the basis of technique: Static Cold Storage, Hypothermic Machine Perfusion, Normothermic Machine Perfusion, and Others. Due to the rising number of incidences of organ failures leading to growing organ transplantation and research activities, static cold storage technique dominated the market in 2022. However, normothermic machine perfusion is expected to be the fastest-growing segment in the coming years. This technique provides the organ with enough nourishment and oxygen to allow aerobic metabolism. It also contributes to better transplant results and minimises the likelihood of post-transplantation side effects. It is mostly utilised for liver preservation, but it also allows for the effective preservation of other organs. As a result, such benefits are likely to drive market expansion throughout the forecast period.
- By Organ Type: The report identifies five segments on the basis of organ type: Kidney, Lung, Liver, Heart and Others. The kidney segment held the largest market share in 2022. Increasing cases of kidney failures and number of kidney transplant procedures across the globe are the major factors influencing the segment growth. Moreover, several public awareness campaigns related to the benefits of kidney transplant are also anticipated to promote segment growth.
- By Region: In the report, the global organ preservation solutions market is divided into five regions: North America, Europe, South & Central America and Middle East & Africa. North America accounted for the largest share in the global organ preservation solutions market in 2022. Because of the rising acceptance of innovative healthcare technologies, high prevalence of chronic kidney diseases and heart failure, and increasing investments for improving healthcare infrastructure, North America and Europe are projected to be major markets over the forecast period.
Competitive Landscape:
The global organ preservation solutions market is moderately fragmented. The key players of the global organ preservation solutions market are:
- XVIVO Perfusion AB
- TransMedics Group, Inc.
- Artivion, Inc.
- BioLife Solutions, Inc.
- Teva Pharmaceutical Industries Ltd.
- Paragonix Technologies, Inc.
- Bridge to Life Ltd.
- OrganOx Limited
- Bristol-Myers Squibb
- Accord Healthcare Limited
- Perfusion Solution, Inc.
- Global Transplant Solutions
For more information about this report visit https://www.researchandmarkets.com/r/14azu9
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