As stated in our extensive report; providing insights on Key Drivers, Key Restraints, Segments (i.e.,Solution, Technique, Organ Type, End-Users and Region); the Global Organ Preservation Market accounted for USD 206.1 Million in the year 2021.
“Key Factors Likely to Drive Growth of Organ Preservation Market”
The demand is on the rise due to the growing cases of organ failure across the globe, initiatives to stimulate organ donation, and a geriatric population in developing and developed countries. Organ Preservation is primarily a method under which organs donated for transplantation are stored and preserved at the proper temperature and surroundings. The preservation process generally includes flushing the organ with a specific preservation solution based on the requirements and storing is based on various techniques as required by the organ.
The growing incidences of organ failures occurring worldwide amid an excessive boom in the geriatric population, along with the various regional authorities providing favorable regulations across the globe, is the significant factor responsible for driving the growth of the Organ Preservation Market during the forecast period.
Additionally, the components such as organizing initiatives and creating awareness programs to expand the volume of organ donations and organ transplantation methods worldwide also heighten the overall growth of the market. The growing prevalence of multi-organ failure and rapid improvements in the country’s healthcare infrastructure are also anticipated to accelerate the overall growth of the market.
Organ Preservation is a resource complete method regarding expensive doctors and surgeons, highly-priced transportation, and highly-priced drugs that make it expensive. The price related to inpatient care, organ procurement, preservation, post-operative recipient care, and anti-rejection medication increases the inclusive price. For low-earnings patients, price directly competes with spending on requirements including food, clothing, and shelter, which often renders organ transplantation methods inaccessible without external aid. Thus, the high price of preservation methods is one of the most important components restricting the boom of the Organ Preservation Market.
North Americaheld the largest market share in 2021 due to the rising acceptance of innovative healthcare technologies, high prevalence of chronic kidney diseases and heart failure and increasing investments in improving healthcare infrastructure are the major factors promoting the growth of the region.
Asia Pacificis anticipated to witness the fastest growth over the forecast period owing to the increasing healthcare expenditure, rising patient awareness, and growing need for organ transplantation procedures.
Some of the key players in the Global Organ PreservationMarketinclude-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 (US), TX Innovations (Netherlands) and others.