The global organ preservation market is worth US $210 million in the year 2020 and is anticipated to grow at US $399 million by 2030 with the compound annual growth rate (CAGR) of 6.5% during the forecast period from 2021 to 2030.
Organ preservation is a process in which organs of the human body are preserved for transplant surgeries. Organs including, the liver, kidney, heart, and pancreas, can be kept from swelling during storage using solutions and techniques. Organ preservation is considered to be vital ever since the inception of transplant surgeries.
Factors Affecting
Impact of Covid-19 pandemic
Ever since the Covid-19 pandemic gripped the world and the number of Covid-19 cases rose, all inessential and elected procedures were postponed. Moreover, carrying out an organ transplant carries a major risk of infection to not only the patient but also the surgeon. The medical equipment, which is essential for organ transplant surgeries, such as ventilators and monitors, were prioritized for patients of Covid-19. Due to such reasons, the global organ preservation market had a negative impact.
Regional Insight
According to the region, North America is leading the global organ preservation market. This lead in the global market is due to reasons such as the incorporation of improved and advanced medical technology, rise in the number of cases of chronic diseases such as kidney and heart diseases. North America also has favorable reimbursement policies for organ transplant surgeries. These factors earn North America the largest share in the global organ preservation market.
Asia-Pacific is being considered a promising market of global organ preservation. In China, for instance, there is rigorous public education, increasing awareness of the general population, improvement in medical technology, and favorable government policies towards healthcare. Likewise, in India, there have been rapid advancements in healthcare facilities and infrastructure while also stirring up medical tourism. In Japan, willingness for organ donation has also improved. Other countries have come up with schemes such as paired organ donations with patients from within as well as patients from across other nations and favorable reimbursement plans for patients.
Competitive landscape
Key players of organ preservation market around the globe:
Segment Analysis
By Solution
By Technique
By Organ type
By Region