- The organ preservation market studied is anticipated to grow with a CAGR of nearly 6.3%, during the forecast period. Certain factors that are driving the market growth include rising cases of multiple organ failure in aging population, technological advancements, and increasing government and NGO initiatives to encourage organ donation.
- Organ disease is a massive public health issue, and organ transplantation can be a lifesaving treatment option. There are as many people dying per year of organ disease as are on the transplant waiting list currently. Organs that can be donated after death include the heart, liver, kidneys, lungs, pancreas and small intestines. Tissues include corneas, veins, skin, heart valves, tendons, ligaments and bones.
- Organ recipients are selected based mainly on medical need, location and compatibility. Each individual's medical condition is assessed at the time of their death to determine what organs and tissues are viable for donation.
- The donor family never has to bear the costs associated with recovering and processing organs and tissues for transplant. The family may be expected to pay for medical expenses incurred before death is declared and for expenditures involving funeral arrangements. All these imply the organ transplant scenario, and thus the need for organ preservation, globally.
Key Market Trends
Liver holds significant share of the Global Organ Preservation Market
- A liver transplant, also refered to as a hepatic transplant, can help save one's life when the liver no longer works. The treatment involves surgical removal of the entire liver. It's then replaced with all, or part, of a healthy donor liver. This may come from a living or deceased donor. This demands proper preservation of the donor organ.
- A doctor may advise a liver transplant for a person with end-stage liver disease. An individual with such condition will die without a transplant. A doctor may also recommend a liver transplant if alternate treatments for liver disease aren't enough to keep a person alive.
- According to the 2018 report of American Journal of Transplantation, people who have a liver transplant have an 89% chance of living after one year. The five-year survival rate is 75%.
North America Dominates the Global Organ Preservation Market
- The rising demand for organ transplantation is propelling the market growth across the entire region. According to the American Transplant Foundation, around 114,000 people in the United States are currently on the waiting list for a lifesaving organ transplant. Another name is added to the national transplant waiting list every 10 minutes. On average, 20 people die every day from the lack of available organs for transplant.
- The legal framework governing organ donation in the United States is constructed on principles exclusively designed to support the system of transplantation. The primary law overriding organ donation in the United States is the Uniform Anatomical Gift Act (UAGA). The UAGA is a model legislation drafted by the Uniform Commissioners which is then passed into law state by state.
- All these factors create a favorable scenario for organ donation and organ transplant across the region, eventually fueling the market growth.
The global organ preservation market is competitive and consists of a few major players. Companies like 21st Century Medicine Inc., Essential Pharmaceuticals LLC, Organ Recovery Systems, Inc., Organox Limited, Paragonix Technologies, Inc., Preservation Solutions, Inc., Transmedics, Inc., Waters Medical Systems LLC, Xvivo Perfusion AB, among others, hold the substantial market share in the market.
- The market estimate (ME) sheet in Excel format
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