Transplantation Market is Likely to Reach a Valuation of Nearly US$ 19.52 Billion By 2028 with CAGR 11.5%
In 2020, the tissue market segment for transplantation accounted for the largest share and is projected to retain its dominance. The rising cases of burn and accident cases all across the globe and high transplant products among patients in the developed economies favoring its growth. As per the estimates of the European Road Safety Observatory, there were around 102,362 accident cases in Spain, which has boosted the segment's growth prospects in transplantation industry.
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The organ transplantation segment is anticipated to grow at the fastest rate over the assessment period. Repetitive use of immuno-suppressants and rising organ transplant surgeries are the prominent market factors responsible for such a high growth rate. Moreover, advancements in transplantation technology followed by new product launches propelled the transparent procedures for kidneys, lungs, heart, tissue, and liver.
In this direction, in November 2020, Lupin introduced a generic version of an immune-suppressant drug, "Tacrolimus" in the U.S. territory, indicated for organ rejection in the allogenic heart, liver, and kidney transplants. In recent past few years, a high number of transplant procedures were recorded in Germany, France, the US., and the UK and the number is expected to rise in the coming years. Moreover, the presence of well-developed healthcare infrastructure and availability of skilled surgeons in these countries have favored the market growth for transplantation.
The immunosuppressive drugs market segment is anticipated to grow at a lucrative growth rate over the study. This market growth is attributed to its high usage post organ transplantation and the rising prevalence of chronic diseases. Thus, the rising market demand for such drugs is anticipated to grow at the fastest rate.
The preservation market segment is projected to witness a significant growth rate over the assessment period. Strong government funding towards stem cell research and the rising cases of organ failures are the factors expected to favor the market segment's growth prospects in transplantation industry.
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Market participants in transplantation industry include Stryker Corp., Zimmer Biomet, Biolife Solutions, Medtronic, Teva Pharmaceutical, AbbVie Inc., Novartis International, 21st Century Medicine, and Veloxis Pharmaceuticals.
Polaris Market Research has segmented the transplantation market report on the basis of product type, application, end-use, and region:
Transplantation, Product Type Outlook (Revenue - USD Million, 2016 - 2028)
• Tissue Products
• Immunosuppressive Drugs
• Preservation Solutions
Transplantation, Application Outlook (Revenue - USD Million, 2016 - 2028)
• Organ Transplant
• Tissue Transplant
Transplantation, End-Use Outlook (Revenue - USD Million, 2016 - 2028)
• Transplant Centers
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