The Global Organ Preservation Market is mainly driven by the high incidences of organ failures, increasing advancements in surgeries, increasing procedures of organ transplantation, and growing patient population with organ failure cases. Market Research Future (MRFR) has published an in-depth report on the global organ preservation market and has predicted the market to capture a CAGR of 8% over the forecast period of 2018-2023.
The need for efficient treatment for organs is motivating the growth of the market at an exceptional pace. The expansion of the market is based to a great extent on developments such in the medical sector, which is expected to be the driving force for the global organ preservation market over the assessment period. Organ transplantation is one of the most acclaimed achievements of the medical industry and is a sophisticated technique that has saving lives. Organ transplantation procedures would not be possible without organ preservation.
The factors driving the organ preservation market are rise in the incidence rate of organ failure, progress in surgical techniques, and rapid greying of the population, who are more prone to organ failures. Rapid advances in cold preservation technique has ensured that the viability and function of organ is preserved better and has significantly affected the growth of the market. On the other hand, the growth of the market might be hindered by factors such as unavailability of suitable donors, high costs associated with organ transplantation procedures and developments achieved in organ development by stem cells.
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Segmentation
The global organ preservation market has been segmented based on preservation solution, organ type, the technique of preservation, and end-user.
By preservation solution, the organ preservation market has been segmented into perfadex, University of Wisconsin (UW) solution, custodiol HTK, celsior solution, citrate solutions, and collins solution.
By organ type, the organ preservation market has been segmented into liver, kidney, heart, lungs, and others.
By technique of preservation, the organ preservation market has been segmented into static cold storage, and dynamic cold storage. The dynamic cold storage segment has been further segmented into hypothermic machine perfusion, normothermic machine perfusion, and oxygen persufflation.
By end-user, the organ preservation market has been segmented into organ banks, hospitals and clinics, and others.
Competitive Landscape
The market players are also to play a pivotal role in capitalizing the global organ preservation market with the help of more research & development activities, more collaborations with foreign medical institutes and medical R&D centers to bring more opportunities for patients for surgeries.
BioLife Solutions, Inc., Claris Lifesciences Limited, CryoLife, Inc., ToleroTech, Inc., Bristol-Myers Squibb,
Xvivo Perfusion AB, 21st Century Medicine, Lifeline Scientific, Franz Kohler Chemie GmbH, and Essential Pharmaceuticals LLC are the key players in the global organ preservation market.
Company Profiles
12.1 Bristol-Myers Squibb
12.1.1 Company Overview
12.1.2 Preservation Technique Overview
12.1.3 Financials
12.1.4 SWOT Analysis
12.2 Xvivo Perfusion AB
12.2.1 Company Overview
12.2.2 Preservation Technique Overview
12.2.3 Financial Overview
12.2.4 Key Developments
12.2.5 SWOT Analysis
12.3 Essential Pharmaceuticals LLC
12.3.1 Company Overview
12.3.2 Preservation Technique Overview
12.3.3 Financial Overview
12.3.4 Key Development
12.3.5 SWOT Analysis
12.4 Dr. Franz Kohler Chemie GmbH
12.4.1 Company Overview
12.4.2 Preservation Technique/Business Segment Overview
12.4.3 Financial Overview
And Many More.
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Industry Updates
In August 2019 – Paragonix Technologies, Inc., a Boston-based medical device company, announced that its flagship product, Paragonix SherpaPak Cardiac Transport System (CTS) was used for the first time in South America at the Favaloro Foundation University Hospital. Paragonix SherpaPak Cardiac Transport System (CTS) is the industry’s only FDA cleared and CE marked system for organ preservation and transportation.
Regional Analysis
Geographically, the organ preservation market has been segmented into the Americas, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).
The Americas is dominating the global organ preservation market. The prevalence of cardiovascular and renal disorders is considerably high in the region, which generates demand for organ replacement. The governments in the region are supportive and the launch of various transplant programs funded by government has created a conducive environment for the growth of the market. Other factors substantiating the growth of the market include rapid rise in geriatric population and the availability of advanced organ preservation techniques in the region. The region has witnessed a number of developments in the organ preservation space, which has further boosted the growth of the market. However, ongoing endeavors to develop organs from stem cells might restrict the growth of the market.
Europe is the second largest organ preservation market and is expected to showcase rapid growth in the coming years. The market is driven by the availability of advanced treatment options, high incidence rate of alcoholic fatty liver diseases, and high healthcare expenditure in the region. Government support in the form of R&D grants to develop advanced organ preservation techniques is boosting the growth of the market. Other supporting factors include the presence of various market players in the region and rise in geriatric population.
APAC is slated to be the fastest growing market for organ preservation. The surging incidence rate of various organ failures in the region along with increasing healthcare expenditure is expected to boost the growth of the market. Moreover, due to economic upturn, the demand for advanced treatments have witnessed a surge in the recent years.
The MEA organ preservation market is anticipated to exhibit limited growth in the coming years, most of which will be cornered towards the Middle East on account of high investment in the healthcare sector.
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Additionally, more factors such as several government initiatives and NGO who are promoting activities of organ donation as well as the availability of skilled personnel are likely to upsurge the growth of organ preservation market in the foreseen period. These factors would successfully assist in capitalizing the market and can also introduce more possibilities of organ preservation in the future.
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