Global Organ Preservation Market Set to Witness Prolific Demand: Projected to Grow at a CAGR of 6.1% in the Forecast Period

Published | 07 July 2021

A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global organ preservation market was worth USD 210.3 million in the year 2020. The data gathered by the study further reveals that the market is estimated to grow at a CAGR of 6.1%, earning revenue of around USD 322.1 million by the end of 2027. The most crucial factors fueling the market growth are increasing incidences of organ failures and escalating demand for organ transplant surgeries. Furthermore, technological advancements and the increasing geriatric population are also contributing to the growth of the organ preservation market worldwide.

The Growing Prevalence of Organ Failure Cases is Driving the Market

The people belonging to the geriatric population are more at risk of organ failures, due to which they demand organ transplantation surgeries. Kidney and heart transplantation are some of the most common surgeries performed on older people. That is why the demand for organ preservation is increasing. Changing lifestyles like high consumption of alcohol is one of the main reasons for liver failures, which often happens at a comparatively young age. This too has fueled the demand for organ preservation, thereby driving the market growth.

Organ Donation Campaigns Boosting the Organ Preservation Market

There is a huge demand and supply gap for organs in the global market. This results in the high cost of organ transplantation and preservation. To bridge this gap, governments and non-profit organizations around the world are launching various campaigns to raise public awareness regarding organ donation and transplants and motivate people to register their decision to donate organs. Such initiatives seem to be working well as the number of organ donations has risen over the past few years. As a result, the demand for organ preservation techniques and methods is also proliferating.

The Heart Segment is Estimated to Flourish During the Forecast Period

Based on organ type, the global organ preservation market is divided into several segments—kidneys, liver, lungs, heart, and other organs. Kidney transplantation has the highest demand. Among these segments, the heart segment is expected to grow at a high CAGR during the forecast period. This is due to an increase in cardiovascular diseases and an increase in the geriatric population in every country. Heart attacks are becoming more common at an alarming rate. As a result, the need for heart transplants is increasing, propelling the global organ preservation market forward.

Global Organ Preservation Market - Regional Insights

Geographically, the global organ preservation market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these regions, North America holds the largest market share, followed by Europe. These regions have high adoption rates of advanced medical technology. Also, with high medical expenditure and a developed healthcare system, the demand for organ transplant surgeries is vast. With a limited population and more awareness regarding organ donation, the number of transplant surgeries performed is high. As a result, the market for organ preservation is flourishing in these regions. 

Impact of Covid-19 on the Global Organ Preservation Market

The COVID-19 pandemic has had a severe impact on every industry, including the global organ preservation market. For the safety and protection of the patients and health professionals, all the elective and non-emergency organ transplant procedures were postponed, which ended up affecting the market demand for organ transplants. Furthermore, ICU and mechanical ventilators, which are very crucial during organ transplant surgeries, were allotted only for COVID-19-infected patients. However, in the post-COVID-19 world, all the postponed surgeries are expected to resume, which will drive the demand for organ preservation tremendously.

Competitive Landscape

The leading market players in the global organ preservation market are Paragonix Technologies, S.A.L.F., Waters Medical Systems, Dr. Franz Köhler Chemie GmbH, XVIVO Perfusion AB, Shanghai Genext Medical Technology, Avionord, Preservation Solutions, Essential Pharmaceuticals, Organ Preservation Solutions, Ebers, Organ Assist, Transmedics, Carnamedica, 21st Century Medicine, Organox Limited, Bridge to Life Limited, Institut Georges Lopez, Global Transplant Solutions, and other prominent players.

The key industry players consistently focus and invest heavily in research and development to expand the effectiveness of their products. Competitive strategies like partnerships, collaborations are also very common in this market.

Don’t miss the business opportunity of the global organ preservation market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global organ preservation market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global organ preservation market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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