The Organ Preservation Solutions Market Growth impelled by rising need for organ transplantation, prevalence of chronic diseases leading to kidney failure and growing geriatric population; University of Wisconsin solution (UW) segment held largest share of the market.
New York, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Organ Preservation Solutions Market: Key Insights
According to our new research study on “Organ Preservation Solutions Market to 2028 – Global Analysis and Forecast – by Solution, Technique, Organ Type, and Geography,” the Organ Preservation Solutions Market is projected to reach US$ 367,262.34 thousand by 2028 from US$ 235,566.90 thousand in 2021; it is expected to register a CAGR of 6.5% during 2021–2028.
Organ Preservation Solutions Market: Competition Landscape and Key Developments
Waters Medical Systems LLC; XVIVO Perfusion; TransMedics; OrganOx Limited; Paragonix Technologies, Inc; Dr. Franz Koehler Chemie GmbH; Accord Healthcare; 21ST CENTURY MEDICINE; Shanghai Genext Pharmaceutical Technology; and Bridge to Life Ltd.; are among the key companies operating in the organ preservation solutions market. Leading market players are focusing on new product launch, expansion, diversification, and acquisition strategies, thereby tapping prevailing business opportunities.
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In 2020, North America dominated the global organ preservation solutions market. The market growth is majorly attributed to escalating investments and initiatives by market players and governments. The market players are actively involved in business development activities such as product launches and partnerships. For instance, in February 2021, Bridge to Life, Ltd. and Tevosol, Inc. announced their merger to develop and commercialize groundbreaking new products for the organ transplantation community. The arrangement includes Bridge to Life’s significant financial commitment to manufacture, trial, and launch Tevosol’s portable ex-vivo lung perfusion (EVLP) machine and normothermic organ preservation platform. The continuous efforts and investments by the market players are boosting the sales of their products in the domestic and international markets.
The COVID-19 pandemic has disrupted the socioeconomic conditions of various countries across the world. In North America, the US has marked the highest number of COVID-19 positive patients. COVID-19 have created complications for individual organ transplant candidates and recipients, as well as the organ transplantation procedure. Based on studies indicating the presence of viral RNA in organs that can be transplanted (e.g., lung, heart, kidney, intestine), there is a theoretical risk of transmitting SARS-CoV-2 from an organ donor to a recipient; however, only a single donor-derived infection during a lung transplant procedure has been reported in the US to date. COVID-19related issues have hampered the number of organ transplantation procedures caried out in the region, posing a threat to the organ preservation solution market.
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Rising Need for Organ Transplantation Drives Organ Preservation Solutions Market Growth:
Rise in chronic diseases that damage the function of the heart, lung, liver, kidney, and other organs is leading to an increase in the number of organ transplantation procedures performed. Excessive alcohol consumption leads to liver cirrhosis, and liver transplant is an ultimate treatment of this condition. Further, a poor diet contributes to the development of renal and hepatic illnesses, which can lead to organ failure. Transplantation surgeries are becoming more common around the world. For instance, in 2018, in Spain, ~5,260 transplant surgeries were performed, ~3,200 of which were kidney transplant surgeries, and about 1,200 were liver transplant surgeries. These further included ~300 heart transplant surgeries and ~360 lung transplant surgeries. Public–private collaboration with transplant coordinators has made a significant contribution to the improvement of organ transplantation. Both developing and developed countries have seen an increase in the number of organ transplant surgeries. For example, developing countries such as India and Singapore are emerging as medical tourism destinations in Asia Pacific. These countries are progressing toward the establishment of strong healthcare systems that provide better and more advanced medical treatments. Therefore, the incidence of chronic kidney and heart diseases would magnify the demand for transplantation, which will drive the organ preservation solutions market growth in the coming years.
Organ Preservation Solutions Market: Segmental Overview
The organ preservation solutions market, by solution, is segmented into University of Wisconsin, solution (UW), custodiol HTK, perfadex, and others. In 2021, the University of Wisconsin solution (UW) segment accounted for the largest market share owing to its major use for the flushing and storage of kidneys, liver, and pancreas. The demand for Perfadex is expected to grow significantly as it is widely used for the preservation and perfusion of lungs, making it the gold standard for lung storage.
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Based on organ type, the organ preservation solutions market is segmented into kidneys, liver, lungs, heart, and others. The kidneys segment is likely to hold the largest market share in 2021. Also, the same segment is expected to register the highest CAGR in the market during 2021–2028.
Based on technique, the organ preservation solutions market is segmented into static cold storage, hypothermic machine perfusion, normothermic machine perfusion, and others. In 2021, the static cold storage segment is projected to hold the largest share of the market In addition, the normothermic machine perfusion segment is expected to grow at the fastest rate during the coming years.
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