Organ Preservation Solutions Market Highlights 2020-2029
The organ preservation solutions market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The market is growing on account of the increasing incidences of multiple organ failure globally. Additionally, the market’s growth can also be attributed to factors such as the increasing geriatric population, growing demand for organ transplant, developing healthcare infrastructure, and others. According to the data collected from the Health Resources & Service Administration (HRSA) and the U.S. Department of Health and Human Services, each day 17 people in the United States die waiting for an organ transplant. Additionally, it has further been reported that nearly 39,000 transplantations were performed in the country in 2020.
The market is segmented based on solution type into custodiol HTK, perfadex, lifor, viaspan, HBS solution, renograf, UW solution, celsior solution, and others, out of which the UW solution segment is anticipated to grab the largest share by the end of 2029 on account of its increasing use in the preservation of kidneys, liver, and pancreas. Although various preservation solutions have been developed so far, the UW solution still remains the gold standard for the storage of various abdominal organs, which is also projected to contribute to the growth of the segment during the forecast period.
On the basis of technique, the static cold storage technique segment in the global organ preservation solutions market is expected to capture a larger share by the end of 2021. Moreover, the hypothermic machine perfusion technique is projected to grow with a significant CAGR over the forecast period. The market segment’s growth can be primarily attributed to the fact that hypothermic machine perfusion is a widely used technique for kidney storage/preservation. In addition to this, the hypothermic machine perfusion technique is capable of preserving an organ for a longer duration, which is further anticipated to fuel their demand in the upcoming years.
On the basis of organ type, the market has been segmented into kidney, heart, lungs, liver, and others, out of which the kidney segment is expected to capture the larger share on account of the growing incidences of kidney failure worldwide. CLICK TO DOWNLOAD SAMPLE REPORT
Organ Preservation Solutions Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The Asia Pacific organ preservation solutions market is predicted to be the fastest-growing market over the forecast period owing to the increasing prevalence of chronic diseases and rising awareness among people regarding the availability of new treatment methods. Furthermore, the market in North America is projected to capture the largest share in terms of revenue during the forecast period, owing to the rising prevalence of cardiovascular diseases in the elderly population leading to organ failures. In addition, the presence of a robust healthcare infrastructure accompanied by increasing government initiatives and reimbursement policies is also expected to enhance the growth of organ preservation solutions in the forthcoming years. Alternatively, the market in Europe is also anticipated to occupy a significant share in the market on account of the rising geriatric population. As per the analysis of the European Commission, more than 20.3% of the European population were aged 65 and older in 2019. Since the risk of chronic diseases is high in the geriatric population, the demand for organ transplantation is increasing significantly in the region, thus driving the market’s growth.
The global organ preservation solutions market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global organ preservation solutions market includes the following segments:
By Solution Type
- Custodiol HTK
- Perfadex
- Lifor
- Viaspan
- HBS Solution
- Renograf
- UW Solution
- Celsior Solution
- Others (Polysol, Belzer's MPS and Euro-Collins)
By Technique
- Static Cold Storage (SCS) Technique
- Dynamic Cold Storage
- Hypothermic Machine Perfusion
- Normothermic Machine Perfusion
- Oxygen Persufflation
By Organ Type
- Kidney
- Heart
- Lungs
- Liver
- Others (Pancreas and Intestine etc.)
By End-User
- Hospitals & Clinics
- Organ Banks
- Others
Growth Drivers
- Rising Incidences of Organ Failure and Chronic Diseases such as Diabetes and Cardiovascular
- Increasing Geriatric Population across the World
- Technological Advancement in Organ Preservation Techniques
Challenges
- High Cost Associated with Organ Preservation & its Transplantation Procedures
- Emergence of Stem Cell Therapies
Top Featured Companies Dominating the Market
- ESSENTIAL PHARMACEUTICALS LLC
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Bristol-Myers Squibb Company
- BioLifeSolutions Inc.
- XVIVO Perfusion
- Bridge to Life Ltd.
- 21st Century Medicine
- OrganOx Limited
- TransMedics
- Lifeline Scientific
- Other prominent players
