Revenue in Organ Preservation Solutions Market to Breach US$0.20 bn Mark by 2019

Technological advancements and expanding geriatric population are some of the major factors driving the global organ preservation solutions market, states Transparency Market Research in its latest report. The report, titled “Organ Preservation Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, indicates that registering a 16.5% CAGR from 2013 to 2019, the value of the organ preservation solutions market is set to rise from US$0.06 billion in 2012 to US$0.20 billion by 2019.

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The organ preservation solutions market sees immense potential in partnering with medical institutes and research organizations in order to widen and retain the customer base. The main challenges that this market faces are widening gap between organ donors and patients receiving transplant organs, and high cost of the transplant procedure.

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By solution, the market for organ preservation solutions is fragmented into Viaspan, Human bioSystem (HBS) Solution, Perfadex, Lifor, Renograf, siRNA Transplant Solutions, Hypothermosol, and Custodiol HTK (Histidine-Tryptophan-Ketoglutarate). In terms of revenue, Viaspan and Custodial together held a share of over 75% in 2012. However, Custodial is anticipated to be the most rapidly developing segment by 2019, growing at a 17.1% CAGR from 2013 to 2019.On the basis of technique, the market for organ preservation solutions is segmented into static cold storage (SCS), hypothermic perfusion preservation (HPP), and others. SCS is the most widely used organ preservation solution, being cheaper and more user-friendly compared to HPP. However, lack of organ donors to fulfill a surging demand for organs is likely to boost the market for HPP over the forecast period. This segment is estimated to register a strong CAGR of 19.2% from 2013 to 2019.

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Geographically, the global organ preservation solutions market is divided into North America, Europe, Asia Pacific, and Rest of the World. Europe dominated the worldwide market in 2012 in terms of revenue and this region is predicted to register a 17.3% CAGR from 2013 to 2019, also making it the fastest growing regional market for organ preservation solutions. The impressive presence of organ donors in Europe and growth of geriatric population are responsible for its strong growth. According to the European Commission, in 2011, the number of deceased organ donors in the U.K. alone stood at 1,056. In the entire European region, the number of deceased organ donors has risen from 9,152 in 2009 to 9,604 in 2011.

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Some of the prominent players operating in the global organ preservation solutions market are Claris Lifesciences Limited, XVIVO Perfusion AB, 21st Century Medicine, Teva Pharmaceutical Industries Ltd., BioLife Solutions, Inc., Lifeline Scientific, Dr. Franz Köhler Chemie GmbH, ToleroTech, Inc., BioTime, Inc., CryoLife, Inc., and Bristol-Myers Squibb.

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This release was published on openPR.