Research Nester released a report titled “Organ Preservation Solutions Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global organ preservation solutions market in terms of market segmentation by solution type, technique, organ type, end-user and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The organ preservation solutions market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the increasing incidences of multiple-organ failure and the rising demand for organ transplantation. As per the U.S. Department of Health and Human Services and Health Resources & Services Administration (HRSA), in the U.S., nearly 90% of the adults support organ donation, while around 60% have already signed up as organ donors.
The market is segmented by solution type into custodiol HTK, perfadex, lifor, viaspan, HBS solution, renograf, UW solution, celsior solution, and others. Among these, the UW solution segment is anticipated to hold the largest share by the end of 2029 in the organ preservation solutions market on account of their increasing demand in the preservation/storage of liver, kidneys, and pancreas.
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On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Currently, the market in North America holds the largest share. This can be attributed to the rising number of people favoring organ donation, especially in the United States, where nearly 90% of the adults support organ donation. Additionally, the development of innovative techniques in organ transplantation is also fueling up the demand for these procedures, thus propelling the market’s growth
Increasing Incidences of Multiple-Organ Failure and Rising Demand for Organ Transplant to Drive Market Growth
According to the U.S. Department of Health & Human Services and Health Resources & Services Administration (HRSA), it is estimated that over 107,000 men, women, and children are registered on the national transplant waiting list as of February 2021. Additionally, it has also been reported that nearly 17 people die each day waiting for an organ transplant.
Multiple-organ failure is a life-threatening condition that primarily occurs due to trauma, fulminant infections, and others. The most commonly affected organs include the heart, lungs, liver, and kidneys. Since the incidences of multiple-organ failure are increasing, there is a high demand for organ transplantation. In 2020, nearly 39,000 organ transplants were performed in the United States, as reported by the U.S. Department of Health & Human Services and Health Resources & Services Administration (HRSA).
This report also provides the existing competitive scenario of some of the key players of the global organ preservation solutions market which includes company profiling of ESSENTIAL PHARMACEUTICALS LLC, Bristol-Myers Squibb Company, BioLifeSolutions Inc., XVIVO Perfusion, Bridge to Life Ltd., 21st Century Medicine, Organ Ox Limited, TransMedics, Lifeline Scientific, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global organ preservation solutions market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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