Press release
Organ Preservation Solutions Market is projected to reach US$ 367.26 Million by 2028 from US$ 235.56 Million in 2021
Organ preservation solutions are used to protect organs prior to transplantation as they often collapse once removed from the human body. Organ preservation processes are employed for preserving organs for future applications such as transplantation and research. The growing global interest in organ transplantation procedures is likely to encourage developments in organ preservation techniques. In line with this, the development of mechanical techniques for would drive the demand for organ preservation solutions in the coming years.According to our new research study on "Organ Preservation Solutions Market Forecast to 2028 - COVID-19 Impact and Analysis - by Solution, Technique, Organ Type, and Geography," the market is projected to reach US$ 367,262.34 thousand by 2028 from US$ 235.56 Million in 2021; it is expected to register a CAGR of 6.5% during 2021-2028.
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The report highlights trends existing in the market, and drivers and hindrances pertaining to the market growth. Factors such as the need for organ transplantation, the prevalence of chronic diseases leading to kidney failure, and growing geriatric population are the key factors driving the market growth. However, the expensive organ transplant surgeries and limited numbers of donors for organ transplant surgeries are the factors hindering the market growth.
Waters Medical Systems LLC; XVIVO Perfusion; TransMedics, OrganOx Limited; Paragonix Technologies, Inc.; Dr. Franz Koehler Chemie GmbH; Accord Healthcare; 21ST Century medicine; Shanghai Genext Pharmaceutical Technology; and Bridge to Life Ltd.; are among the leading companies operating in the organ preservation solutions market.
These companies are adopting inorganic and organic growth strategies to expand their global footprints and product portfolio to meet the rising demands for organ preservation solutions. In February 2021, Bridge to Life Ltd. and Tevosol, Inc. announced their merger to develop and commercialize groundbreaking new products for organ transplantation procedures. Bridge to Life's significant financial commitment to manufacture, trial, and launch Tevosol's portable ex-vivo lung perfusion (EVLP) machine and normothermic organ preservation platform is a highlight of this merger.
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Based on solution, the organ preservation solutions market is segmented into University of Wisconsin solution , custodiol HTK, perfadex, and others. The UW solution segment accounted for the largest market share in 2020. The major use of this solution for the flushing and storage of kidneys, liver, and pancreas is a high request in the segment. The demand for Perfadex is expected to grow significantly in the coming years, and the projected growth of the market for this segment is ascribed to its wide use in the preservation and perfusion of lungs, making it the gold standard for lung storage.
On the basis of solution, the organ preservation solutions market is segmented into University of Wisconsin, solution (UW), custodiol HTK, perfadex, and others. Based on organ type, the market is segmented into kidneys, liver, lungs, heart, and others. By technique, the market is categorized into static cold storage, hypothermic machine perfusion, normothermic machine perfusion, and others. On the basis of geography, the organ preservation solutions market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South and Central America (Brazil, Argentina, and the Rest).
The report offers an in-depth analysis of the organ preservation solutions market, emphasizing on market trends, technological advancements, market dynamics, and competitive landscape (involving major market players across the world). It also includes the impact of the COVID-19 pandemic on the market across all the regions. The pandemic has disrupted the socioeconomic conditions of various countries across the world. In North America, the US witnessed the profound effects of the outbreak, marking the highest number of positive patients. COVID-19 has presented additional complications in organ transplantation procedures, as both recipients and donors can be at a risk of acquiring the infection of SARS-CoV-2 during the treatment. Based on studies highlighting the presence of viral RNA in transplantable organs such as lungs, hearts, kidneys, intestines, there is a theoretical risk of transmitting SARS-CoV-2 from an organ donor to a recipient, although only a single such case has been reported during a lung transplant procedures in the US to date. Thus, the onset of the pandemic has hampered the organ transplantation services, posing a threat to the organ preservation solution market growth. The market, by region, is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM).
Solution-Based Insights
Based on solution, the organ preservation solutions market is segmented into University of Wisconsin solution (UW), custodiol HTK, perfadex, and others. In 2021, University of Wisconsin solution (UW) segment held the largest market share owing to its major use in the flushing and storage of kidneys, liver, and pancreas.
Technique-Based Insights
Based on technique, the organ preservation solutions market is segmented into static cold storage, hypothermic machine perfusion, normothermic machine perfusion, and others. The static cold storage segment held the largest market share in 2020.
Organ Type-Based Insights
Based on organ type, the organ preservation solutions market is segmented into kidneys, liver, lungs , heart, and others. The kidneys segment is expected to hold the largest market share in 2021, whereas the healthcare segment is estimated to register the highest CAGR in the market during the forecast period.
Strategic Insights
The organ preservation solutions market players adopt organic strategies such as product launch and expansion to expand their footprint and product portfolio worldwide as well as to meet the growing demand.
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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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