Overview:
This research employed a large number of primary and secondary sources. In order to determine the segmentation types, industry trends, major players, competitive landscape, important market dynamics, and major player strategies, the research process involved analyzing a variety of industry-affecting factors.
The global pandemic has had a significant impact on organ transplantation and donation. It has hampered these efforts and drastically decreased global organ donation and transplantation efforts, which has decreased demand for products that preserve organs. Transplants from living donors were suspended during the outbreak in many countries, and transplants from deceased donors were restricted to only the most dire circumstances.
For a great deal of vulnerable patients on transplant waiting lists, this meant missed opportunities. New procedures pertaining to appropriate donor assessment and consent, organ recovery, organ procurement organization, donor hospital resources, and transplant centers’ acceptance of organs offered for candidates were put into place as a result of the coronavirus outbreak.
Growth Influencing Factors:
The market is expected to grow due to several factors, including the growing number of organ transplants and donors, the aging population, the increasing incidence of multi-organ failure, and the increased efforts to promote organ donation.
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Revenue Growth Analysis:
Revenue from the global organ preservation market was projected to be $230 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 6.6% to $317 million by 2026.
End Users:
In 2020, the organ preservation market’s largest share belonged to the organ transplant centers segment.
The organ preservation market is divided into organ transplant centers, hospitals, and specialty clinics based on the end user. By 2020, the organ preservation market was dominated by the organ transplant centers segment. The substantial portion of this market can be ascribed to the abundance of hospitals offering organ transplantation services to patients through their transplant programs.
Geographical Growth Dynamics:
It is anticipated that the organ preservation market will grow at the fastest rate in Asia-Pacific.
From 2021 to 2026, the Asia-Pacific market is anticipated to expand at the fastest rate. This can be ascribed to things like the government’s encouraging initiatives, people’s growing awareness, and an increase in organ donations. The rising healthcare infrastructures in China and Japan, the growing medical tourism industry in the RoAPAC countries, the growing prevalence of chronic diseases, and the government regulations that apply to transplantation and related organ donation procedures are all factors that will propel market growth in the APAC region.
Global Key Players:
The prominent players in the global organ preservation market are Paragonix Technologies (US), XVIVO Perfusion AB (Sweden), Dr. Franz Köhler Chemie GmbH (Germany), Essential Pharmaceuticals, LLC (US), TransMedics (US), OrganOx Limited (UK), 21st Century Medicine (US), Shanghai Genext Medical Technology (China), Bridge to Life Limited (US), Waters Medical Systems (US), Preservation Solutions (US), Carnamedica (Poland), Transplant Biomedicals (Spain), Institut Georges Lopez (France), Global Transplant Solutions (US), Avionord (Italy), Organ Preservation Solutions (England), EBERS (Spain), S.A.L.F. (Italy), Biochefa (Poland), Vascular Perfusion Solutions, Inc. (US), and TX Innovations (Netherlands).
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Recent Developments:
# In 2021, Paragonix Technologies launched the LIVERguard Donor Liver Preservation System in both the US and Europe. This strategy expanded Paragonixs’ product offerings and strengthened their geographic presence.
# In 2021, XVIVO Perfusion partnered with Contatti Medical (Brazil) to expand its business and gain access to a comprehensive network of transplantation centers in Latin America’s largest country, Brazil.
# In 2021, Institut Georges Lopez (Igl) (France) expanded its presence by setting up a manufacturing facility in Cheyyar, Tamil Nadu, India, for manufacturing medical devices and solutions for flushing and preservation of organs.
# In 2021, Transmedics received premarket approval from the FDA for the OCS Heart System to be used with organs from donors after brain death (DBD).
# In 2020, Dr. Franz Köhler Chemie GmbH (Germany) entered into a joint venture with Melchers Group and CICEL (Germany) to establish Köhler Pharmaceuticals (Beijing) Ltd. in China for the distribution of Custodiol HTK solutions for cardiac and transplant surgery in the Chinese market.
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