Global Organ Preservation Market Report 2023: Advancements in Medical Technology Bolsters Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Organ Preservation Market Size, Share, Growth Analysis, By Solutions, By Technique, By Organ, By End User – Industry Forecast 2022-2028” report has been added to ResearchAndMarkets.com’s offering.

The global organ preservation market size was valued at USD 230.89 million in 2021 and is poised to grow from USD 246.64 million in 2022 to USD 410.24 million by 2030, growing at a CAGR of 6.8% in the forecast period (2023-2030).

The global organ preservation market is witnessing steady growth due to advancements in medical technology. Organ preservation techniques, such as hypothermic perfusion and static cold storage, have improved the success rates of organ transplants.

The market is driven by the rising prevalence of organ failure, increasing demand for organ transplantation, and a growing number of transplant centers. Additionally, ongoing research and development efforts are focused on developing innovative organ preservation methods for better patient outcomes.

Segments covered in this report

Global organ preservation market is segmented based on the product, end user, and region. Based on the solution, the global organ preservation market is segmented into UW, custodial HTK, and perfadex. Based on technique the global organ preservation market is segmented into static cold storage, hypothermic, and normothermic.

Based on the organ, the global organ preservation market is segmented into kidneys, liver, and heart. Based on end-user, the global organ preservation market is segmented into transplant centers, hospitals, and specialty clinics. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Driver

Multiple organ failure, predominantly caused by sepsis, stands as a prominent contributor to mortality rates in intensive care units (ICUs). Statistics suggest that approximately 20% of sepsis patients experience acute respiratory failure, while 26-50% develop acute renal failure, as reported by the Society of Critical Care Medicine.

The elderly population faces a higher incidence of acute renal failure due to age-related declines in renal plasma flow and glomerular filtration rate. Additionally, individuals with diabetes are more vulnerable to both sepsis and multiple organ failure. Geriatric patients also exhibit a higher likelihood of carrying illnesses such as tuberculosis and liver cirrhosis, which may necessitate the need for organ transplantation.

Restrain

The process of organ transplantation necessitates significant resources, such as well-paid medical professionals and surgeons, costly transportation, and expensive medications. The overall expenses are further augmented by fees associated with inpatient care, organ procurement and preservation, post-operative recipient care, and medications to prevent rejection.

In addition, patients are required to bear supplementary costs for travel, accommodation, meals, hospital visits, and various medical tests when attending assessment or follow-up appointments at the transplant center, as recommended for comprehensive medical care.

Trend

Governments worldwide are focusing on enhancing their healthcare infrastructure to provide superior healthcare services. For example, the Brihanmumbai Municipal Corporation in India has allocated approximately USD 924 million (INR 7,000 crore) or 15% of its budget for 2022- 2023 to enhance health services.

This initiative aims to establish 100 health clinics in BMC regions, equipped with over 100 diagnostic tests for preventive and primary treatment. Consequently, the infrastructure upgrades will lead to the establishment of more hospitals capable of handling a higher number of brain-dead individuals who can potentially serve as organ donors.

Moreover, the advancements in testing labs will contribute to improved efficiency in donor-recipient cross-matching, subject profiling, genotyping, and other relevant diagnostic tests conducted during the pre-transplantation phase. These developments are expected to create new opportunities in the field of organ preservation.

Companies Mentioned

• Organ Recovery Systems
• XVIVO Perfusion
• Paragonix Technologies
• Bridge to Life
• TransMedics
• Preservation Solutions Inc.
• 21st Century Medicine
• Dr. Franz Kohler Chemie GmbH
• BioLife Solutions Inc.
• Waters Medical Systems LLC
• IGL Transplantation Services
• CryoLife
• Lifeline Scientific
• Cytosol Laboratories Inc.
• Lifor Medtech
• Scinovia Corporation
• Teva Pharmaceutical Industries Ltd.
• OrganOx
• Organ Assist
• Organ Transport Systems Inc.

For more information about this report visit https://www.researchandmarkets.com/r/5lrgf4

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