Organ Preservation Market Overview
It is anticipated that this aspect will accelerate Organ Preservation market revenue ly.
Awareness regarding the transplantation procedure is boosting the market. At the same time, technological advancements are creating spaces for further development in the sector. Researchers are now trying to increase the storage time of organs which would increase the chances of getting them transplanted. Government and various NGOs are also promoting the market by generating awareness and aiding associated roles such as creating green corridors and setting up numerous organ storage units. This would safely lower the gap between demand and supply. Researches regarding surgical procedures are also increasing the organ preservation market prospect.
Organ preservation as the name suggests refers to the preservation of various healthy organs harvested from deceased or alive donors. Organ preservation processes are just not limited to the preservation of successfully achieved organs, but these also ensure the feasibility and viability of these organs after prolonged ischemia. Usually, the devices used in organ preservation process ensure controlled temperature and regulated metabolites to impede harvested organs’ metabolism.
The global Organ Preservation Market is projected to grow from USD 0.319 Billion in 2023 to USD 0.465 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.48% during the forecast period (2023 – 2030).The recently published report also claims that the market valuation gained during the period would be substantial. Organ preservation is the technology that ensures donated organs last long so that they can be used to save other patients. At the same time, the technology associated with these also ensures the feasibility and viability of transplanting organs. The preservation process safeguards that the temperature and other regulations remain at their optimum level to stop the metabolism of the harvested organ. In addition, fluids are pumped in the system to keep the organ alive. MRFR in their report has included detailed segmental analysis and study of factors that can impact the market in the coming years.
Competitive Analysis:
global organ preservation market Players as per MRFR report are Xvivo Perfusion AB, Bristol-Myers Squibb, Franz Kohler Chemie GmbH, BioLife Solutions, Inc., Essential Pharmaceuticals LLC, Claris Lifesciences Limited, ToleroTech, Inc., Lifeline Scientific, 21st Century Medicine, and CryoLife, Inc.
Market Segmentation
As per the report of MRFR, the global organ preservation market can be segmented by preservation solution, organ type, the technique of preservation, and end-user. Preservation solution includes perfadex, University of Wisconsin (UW) solution, custodiol HTK, celsior solution, citrate solutions, and Collins solution.
Based on the organ type, the organ preservation market can be segmented into liver, kidney, heart, lungs, and others.
Based on the technique of preservation, the can be segmented into static cold storage, and dynamic cold storage. The dynamic cold storage comprises hypothermic machine perfusion, normothermic machine perfusion, and oxygen persufflation.
Based on the end-users, the market can be segmented into organ banks, hospitals and clinics, and others.
Regional Analysis
MRFR segments the organ preservation market regionally by the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas is leading the market from the front with the largest market share. The region is showing great technological advancement in preserving organs, and the awareness related to organ donation and preservation is growing. In addition, research and methodology sector is receiving substantial funding due to which the market can expect growth. Government and private organizations are also putting in efforts to set up centers to store organs which can provide a tailwind to the market.
The market in the European region is benefitting much from the rising healthcare expenditure. The regional advanced treatment facilities are also backing up the procedure amply, and the government initiatives are really commendable.
The APAC region is reaping the benefits of getting new organ storing setups. It can attribute the growth to the improved infrastructures and better funding in healthcare. Countries such as China and India are holding the maximum share in the market, and they are still developing which can ensure further growth in the sector.
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