Global Organ Preservation Market to Surpass USD 410.24 Million by 2030 Driven by Increasing Aging Population
SkyQuest projects that the global organ preservation market will attain a value of USD 410.24 million by 2030, with a CAGR of 6.8% during the forecast period (2024-2030). One of the leading causes of death cases in the ICU is multiorgan failure, usually caused by sepsis. It is estimated that approximately 20% of individuals with sepsis have acute respiratory failure and 26–50% have acute renal impairment (Society of Critical Care Medicine) in the global organ preservation market. Acute renal impairment is common in the elderly due to an age-related decrease in renal blood flow and glomerular filtration rate. Diabetes predisposes people to both of these diseases and multiple organ failures. Older patients are more likely to develop diseases such as tuberculosis and liver disease, which may require organ transplantation.
Westford, USA, Feb. 20, 2024 (GLOBE NEWSWIRE) — The number of older people receiving organ transplants has increased, significantly affecting transplant options, according to the Organ Procurement Transplant Network 65. Age 65 or older in 2020. This number is predicted to reach 1.5 billion by 2050, indicating the possibility of increasing demand. Given the susceptibility of this population segment to diseases leading to organ failure, its growth will be crucial in the expansion of the global organ preservation market.
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One of the most common causes of death in the ICU is multiorgan failure, primarily caused by sepsis. According to testing, approximately 20% of individuals with sepsis have respiratory failure, and 26–50% has severe renal impairment. Acute renal failure is more common in the elderly due to age-related decreases in renal blood flow and glomerular filtration rate in the global organ preservation market. Diabetes predisposes people to both of these diseases and multiple organ failures. Older patients are more likely to develop diseases such as tuberculosis and liver disease, which may require organ transplantation.
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Prominent Players of Global Organ Preservation Market
- Bridge to Life
- TransMedics
- Preservation Solutions Inc.
- 21st Century Medicine
- Dr. Franz Köhler Chemie GmbH
- BioLife Solutions Inc.
- Waters Medical Systems LLC
- IGL Transplantation Services
- CryoLife
- Lifeline Scientific
- Cytosol Laboratories Inc.
- Lifor Medtech
- Scinovia Corporation
- Teva Pharmaceutical Industries Ltd.
- OrganOx
- Organ Assist
- Organ Transport Systems Inc.
UW Segment to Dominate Market Owing to High Adoption Rate of the Solution
The University of Wisconsin (UW) gained the largest share in 2021 due to the high adoption rate of the solution and numerous benefits in the global organ preservation market. Compared to previous treatments, this solution allows for longer preservation of human liver transplants for more than 15 hours in addition to safe remote organ transfer. It especially helps in preserving the liver and ensures a 100 percent success rate of liver transplantation. The market expansion is estimated to be driven by the increase in liver transplantation.
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North America accounted for the largest share in 2022 and is expected to remain dominant over the forecast period in the global organ preservation market. Key growth drivers include increased use of sophisticated healthcare technologies, higher prevalence of chronic kidney disease and heart disease, enhanced payment regulation and investment in healthcare which will be expanded.
Perfadex Segment to Witness Significant Growth Owing to Increasing Aging Population
The perfadex segment is predicted to witness the fastest CAGR during the projection period in the global organ preservation market. This treatment is primarily designed to preserve internal organ integrity and function during ischemia cryopreservation and flushing prior to transplantation from reperfusion Although used primarily to protect the lungs though the solution can also be used to save other organs. These benefits are therefore expected to encourage category expansion during the start-up period.
Asia Pacific is expected to witness fastest growth throughout the forecast period owing to rising healthcare expenditure, patient awareness and rising organ transplant surgery. The number of aging population, mental and cardiac diseases is also anticipated rising rates and rising health care costs will both contribute to global organ preservation market expansion.
A comprehensive analysis of the major players in the global organ preservation market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments of Global Organ Preservation Market
- January 2023: Liver transplant surgeons at MedStar Georgetown University Hospital in Washington city, United States, use a new FDA-approved technology, OrganOx Metra, which simulates attaching a liver to a recipient ho to preserve the donor liver was successfully used It is possible for up to 12 hours before transplantation into the recipient.
- August 2022: Paragonix Technologies, Inc. marked a milestone in preserving more than 2,000 donor organs by equipping transplant clinics with Advanced Organ Preservation (AOPT) technology and a nationwide clinical support program in this technology each used methods of organ preservation and gave traditional greatly improved ice and cold practices.
Key Questions Answered in Global Organ Preservation Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how do these differences shape the market’s future growth?
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