Overview:
Market Research Future’s (MRFR’s) detailed report ensures growth in the organ preservation market size was valued at USD 0.3 billion in 2022 and is projected to grow from USD 0.31 Billion in 2023 to USD 0.55 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.8% during the forecast period (2023 - 2032).
Organ preservation is now an important part of the healthcare sector as it can help a patient regain his or her vitality through transplantation procedure.
The global organ preservation market is getting driven by the rising number of people donating their organs for research purposes or applications in transplantations. Innovations in surgeries have reduced the risk of the organ failure owing to which the demand for organs is growing. This is getting further boosted by government initiatives and steps taken by NGOs who are encouraging people in donating their organs. Quite a few players have already entered the market and are developing various strategies to take the market. At the same time, new entrants are showing keen interests in investment.
However, the organ preservation market often gets daunted by the high price of organs and difficult transplantation procedures. On the other hand, development in cell therapy could prevent the market from achieving the predicted growth in coming years.
Segmentation:
MRFR in their report on the global organ preservation market outlook segments the market by the technique of preservation, and preservation solution, organ type, end-user.
By preservation solution, the organ preservation market comprises custodiol HTK, University of Wisconsin (UW) solution, citrate solutions, celsior solution, perfadex, and collins solution.
Based on the organ type, the organ preservation market consists kidney, liver, lungs, heart, and others. Lifestyle changes have triggered a rise in the kidney segment.
Upon considering the technique of preservation, the organ preservation market includes static cold storage, and dynamic cold storage. The dynamic cold storage consists normothermic machine perfusion, hypothermic machine perfusion, and oxygen persufflation.
Based on the end-user, the organ preservation market is segmented into hospitals, organ banks, and clinics, and others.
Regional Analysis:
The region-specific analysis of the organ preservation market, as discussed by MRFR, includes the study of regions, namely, North America, Europe, Asia Pacific (APAC), and the Middle East Africa (MEA).
The Market in North America is gaining traction from several sectors such as the growing awareness regarding organ preservation, increasing number of service providers, several financial benefits provided by banks and other institutions for organ preservation set up, superior healthcare structure, and others. These factors have ensured a smooth path ahead for the regional market and founded a proper base for the same. North America is the leading market now, and during the forecast period, it is expected to retain its market dominance.
Europe’s organ preservation market is the second biggest one. The regional market is benefitting much from common features that it shares with the North American region. However, other pointers such as robust support from various organizations and low-cost service are aiding both regions in taking forward their market.
The APAC market is expected to benefit the most from the revamping structures of India and China. Both these nations are investing substantially to change their present healthcare infrastructure. The huge population of the region is also helping the market in its growth. New preservation centers are growing up due to which the market is going to use as leverage. Also, the region’s appeal, on a global scale, as a possible expansion plan for companies is quite alluring.
Competitive Landscape:
Influential companies in the organ preservation market are BioLife Solutions, Inc., Xvivo Perfusion AB, Bristol-Myers Squibb, Franz Kohler Chemie GmbH, Essential Pharmaceuticals LLC, Lifeline Scientific, Claris Lifesciences Limited, 21st Century Medicine, ToleroTech, Inc., and CryoLife, Inc. MRFR, while enlisting these companies, in the report also tracked in detail their recent operations regarding product launch, merger, acquisition, and other methods.
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