Organ Preservation Market worth $284 million by 2024

PUNE, India, 2021-Aug-31 — /EPR Network/ —

The global organ preservation market is projected to reach USD 284 million by 2024 from USD 207 million in 2019, at a CAGR of 6.5%. The growth of the organ preservation market is mainly driven by the increasing incidence of multi-organ failure, the growing geriatric population, the rising number of organ transplants and organ donors, and increasing initiatives to encourage organ donations. However, the high cost of organ transplantations and religious concerns in specific geographies are expected to limit market growth to a certain extent.

Perfadex is expected to command the fastest growing in the market, with the highest CAGR

The solutions segment was divided into the segment is divided into Perfadex, UW, Custodial HTK and Other solutions (EuroCollins and Celsior). Perfadex solution is widely used for the preservation and perfusion of Lungs, making it the gold standard for lung storage. UW solution accounts for the highest share in 2019. It is used for the flushing and storage of kidneys, liver, and pancreas.

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Static cold storage was the leading technique in 2019 but normothermic machine perfusion is expected to grow at a faster rate.

By technique, the segment witnessed a significant market share of Static cold storage in 2019. This technique is used for the preservation of the kidneys, liver, lung, pancreas, and heart. The low cost and requirements of SCS ensure its adoption among end-users. The advantages of normothermic machine perfusion provide its high growth rate in the solutions market in the forecast period of 2019 to 2024.

Lungs are expected to grow in the market by the highest CAGR

The market is segmented by organ type that includes organs like kidney, heart, lungs, liver and other organs (pancreas, intestine).  The demand for lungs is expected to grow at a faster rate in the period of 2019 to 2024, mainly due to the rising prevalence of COPD and other target diseases & disorders necessitating lung transplantation. The kidney established a significant market share in 2019.

“The Asia Pacific to witness the highest growth during the forecast period.”

Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2019–2024. The major factors driving the growth of the Asia Pacific market include favorable government initiatives, increased awareness in people and increased organ donations. Intensified public education, mobilization, and advancements in organ transplant technologies have improved the donation rate in China. In India, Rapid improvements in the country’s healthcare infrastructure have supported market growth while encouraging medical tourism. The willingness to donate organs in Japan has led to the improvement in organ donation despite religious issues. Other countries have initiative reimbursement programs, paired organ donation scheme with other patients within the country and across countries, have improved the growth of this market drastically.

Key Market Players

XVIVO Perfusion AB (Sweden), Paragonix Technologies (US), Dr. Franz Kohler Chemie GMBH (Germany) are the leading players in the organ preservation market.

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