Increase In Cirrhosis & Chronic Liver Disorders, Constant Advancements In Organ Preservation Techniques, Favorable Reimbursement Scenario, Growing Number Of Surgical Transplantation / Implantation, And Various Awareness Campaigns Regarding Organ Donation Are Anticipated To Positively Impact Market Growth
NEW YORK, Oct. 11, 2022 /PRNewswire/ -- As per the latest report by Fact.MR, a market research and competitive intelligence provider, the global organ preservation solutions market is predicted to reach a valuation of US$ 330 million by the end of 2027.
Organ preservation solutions are only set up and maintained by the biological conditions (temperature and oxygen) required to keep a given organ in storage. To retain their anatomical and physiological functions, certain body organs need particular and appropriate storage conditions. The methods and products employed for organ preservation are crucial for donor organ quality, which has a direct impact on the morbidity and survival rates of a patient following transplantation.
The world's geriatric population is growing every day, which has raised the number of multi-organ failures and organ transplant procedures. The market for organ preservation solutions is being driven by the need for effective management of organ transfer from donors. Organs obtained from donors need to be handled and cared for properly, which is accomplished by keeping the organs in cryogenic systems. There has been an exponential increase in the number of businesses offering organic preservation methods to preserve and transport organs from donors to patients.
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Innovations in organ preservation techniques are probably encouraged by the rising global interest in organ transplantation operations. The development of novel and advanced methods for organ preservation is stimulating growth. Such techniques lessen the possibility of reperfusion injury after transplantation and enhance the results in cold storage for both clinical and experimental trials. Market growth is also being positively impacted by an increase in government and non-government laws and initiatives to promote organ donation.
Key Takeaways from Market Study
- Demand for organ preservation solutions is expected to rise at a CAGR of 7.2% through 2027.
- The global organ preservation solutions market is currently valued at US$ 233 million.
- Market in Canada is anticipated to amplify at a CAGR of 6% over the forecast period.
- The normothermic machine perfusion segment is forecasted to increase at a CAGR of 6.5% from 2022 to 2027.
- Market in Germany is set to accelerate at a CAGR of 6.2% through 2027.
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Winning Strategy
Key market participants are concentrating on the approval and introduction of new solutions to diversify their product offerings. Top organ preservation solution providers are embracing advanced technologies to provide the finest service for patients in need.
- In 2021, XVIVO Perfusion collaborated with Contatti Medical to grow its business and have access to a wide network of transplantation centres in Brazil, the biggest country in Latin America.
Organ Preservation Solutions Market: Key Players
- BioLife Solutions, Inc.
- Essential Pharmaceuticals, LLC
- Lifeline Scientific, Inc.
- Preservation Solutions, Inc.
- XVIVO Perfusion AB
- Teva Pharmaceutical Industries Ltd.
- Bridge to Life Ltd.
- Accord Healthcare
- OrganOx Limited
- ToleroTech, Inc.
- Claris Injectables Limited
- Paragonix Technologies Inc.
- BioTime, Inc.
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Organ Preservation Solutions Industry Research Segments
- By Technique :
- Static Cold Storage
- Hypothermic Machine Perfusion
- Normothermic Machine Perfusion
- Others
- By Organ Type :
- Kidneys
- Liver
- Lungs
- Heart
- Others
- By End User :
- Organ Transplant Centers
- Hospitals
- Specialty Clinics
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global organ preservation solutions market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
The study divulges essential insights on the market on the basis of technique (static cold storage, hypothermic machine perfusion, normothermic machine perfusion, others), organ type (kidneys, liver, lungs, heart, others), and end user (organ transplant centers, hospitals, and specialty clinics), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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