New York City, NY, 11 February, 2020/ 24 Market Reports: It is estimated for the global organ preservation market to grow from 209 million in 2019 and reach that of USD 281 million by the year 2024, witnessing the growth at a CAGR of 6.1% during the forecast period of 2019 to 2024. The increasing incidence of multi-organ failure, the growing geriatric population, the rising number of organ transplants and organ donors, and increasing initiatives to encourage organ donations are the factors that are driving the growth of the market during the forecast period. Furthermore, factors such as the high cost of organ transplantations and religious concerns in specific geographies are expected to slow down the growth of the market during the forecast period.
UW solution to hold the highest share in the market during the forecast period
Based on the solution segment, Perfadex, UW, Custodial HTK and Other solutions (EuroCollins and Celsior) are the categories for the organ preservation market. Perfadex solution is the gold standard for lung storage as it is widely used for the preservation and perfusion of lungs. During the forecast period, it is estimated for the UW solution to hold the highest share in the market. The use of UW solution takes place in flushing and storage of kidneys, liver, and pancreas.
Static cold storage, by technique, to account for the highest share in the organ preservation market
Based on the technique, static cold storage of the organ preservation market is estimated to witness the highest share in the market during the forecast period. In the preservation of kidneys, lungs, heart, liver and pancreas the static cold storage technique is used. The low cost and requirements of this method have made it popular among the end-users and thus is driving the growth for the segment during the forecast period. The advantages of normothermic machine perfusion provide a high growth rate in the solutions market during the forecast period.
Lungs segment to grow at the highest rate in the market during the forecast period
Kidney, heart, liver, lungs and other organs (pancreas, intestine) is the segmentation for the global market based on organ type. It is estimated for the demand for lungs to grow at the highest rate during the forecast period. The growth of the segment is attributed to the rising prevalence of COPD and other target diseases & disorders necessitating lung transplantation. The kidney segment is expected to establish a significant share in the market during the forecast period.
APAC region to grow at the highest CAGR in the market throughout the forecast period
During the forecast period, it is estimated for the Asia Pacific region to witness the growth in the market at the highest CAGR. Favourable government initiatives increased awareness in people and increased organ donations are the factors that are driving the growth of the market in the Asia Pacific region during the forecast period. Intensified public education, mobilization, and advancements in organ transplant technologies are improving the donation rate in China. The growth of the market in India is supported by rapid improvements in the infrastructure of the country. In Japan, despite the religious issues, the willingness to donate the organ has led to an increase in the rate of organ donation.
The following are the major objectives of the study:
- To define, describe, and forecast the global organ preservation market on the basis of product, application and region.
- To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
- To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
- To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the global organ preservation market.
Critical Questions which the report answers:
- What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
- What are the key revenue generating pockets for global organ preservation market and their future potential during next decade?
- How competitive landscape is evolving in global organ preservation market?
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