According to the latest report by IMARC Group, titled "Organ Preservation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global organ preservation market reached a value of US$ 163.5 Million in 2021. Organ preservation refers to the method of conserving healthy organs to be further utilized for organ transplantation. It is an essential technique that helps in maintaining the functioning of tissues and organs so that the graft can function at re-perfusion. Some of the common preservation techniques include hypothermic machine perfusion, static cold storage, and normothermic machine perfusion. These methods aid in providing sufficient oxygen and nutrition that help in reducing the chances of post-transplantation infections. Along with this, it also aids in improving the survival rates and morbidity among patients after the transplantation.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Organ Preservation Market Trends:
The global market is primarily driven by the rising incidences of organ failure among the masses. This is supported by the increasing prevalence of chronic illnesses among individuals, along with the growing geriatric population. Moreover, significant investments by private and public firms to upgrade the existing healthcare infrastructure is favorably impacting the market. In line with this, the widespread utilization of preservation methods for conducting experimental studies and clinical trials in medical institutes is creating a positive market outlook. Additionally, continuous technological advancements in organ preservation techniques are acting as major growth-inducing factors. Furthermore, numerous initiatives are undertaken by government and non-governmental organizations (NGOs) of multiple countries for encouraging organ donation activities are providing a boost to the market. Other factors, including continual improvements in the healthcare infrastructure, the acceptance of transplantation procedures, inflating disposable income levels of the masses, and extensive research and development (R&D) activities conducted by key players for introducing improved preservation methods, are also positively influencing the market.On account of the aforementioned factors, the market is anticipated to reach a value of US$ 242.6 Million by 2027, growing at a CAGR of 6.8% during 2022-2027.
- On the basis of the preservation solution, the market has been segmented into UW solution, custodial HTK, perfadex and others.
- Based on the organ donation type, the market has been bifurcated into living organ and deceased organ donations.
- On the basis of the technique, the market has been segregated into static cold storage technique, hypothermic machine perfusion, normothermic machine perfusion and others.
- Based on the organ type, the market has been classified into kidney, liver, lung, heart and others.
- On the basis of the end-user, the market has been categorized into hospitals and clinics, organ banks and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.Some of these players include 21st Century Medicine, Biolife Solutions, Bridge to Life Ltd., Bristol-Myers Squibb, Dr. Franz Köhler Chemie GmbH, Essential Pharmaceuticals., Lifeline Scientific, OrganOx, Paragonix Technologies, TransMedics, Waters Medical Systems and Xvivo Perfusion.
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