PUBLISHER: The Business Research Company | PRODUCT CODE: 1643985
PUBLISHER: The Business Research Company | PRODUCT CODE: 1643985
Organ preservation solutions are specialized medical preparation designed to maintain the viability of organs outside the body before they are transplanted into a recipient. These solutions are used predominantly within organ transplantation procedures to extend the time organs can be maintained ex vivo, thus enhancing the chance of a successful transplant and reducing the risk of organ damage due to ischemia, a condition that occurs when blood flow to an organ is restricted or ceased, which can lead to a shortage of oxygen and essential nutrients.
The organ preservation solution market consists of sales by entities (organizations, sole traders and partnerships), of organ preservation solutions that are primarily used by hospitals, transplant centers and surgical teams that manage donor organs for patients in need of transplants due to organ failure or injury. Additionally, these solutions play a critical role in the overall organ donation and transplantation ecosystem, supporting organ viability from the time of procurement from a donor to implantation into the recipient.
The global organ preservation solution market was valued at $217.96 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 4.00%.
Rise In Number Of Organ Transplant Surgeries
The rise in the number of organ transplant surgeries boosted the growth of the organ preservation solution market during this historic period. The increase in transplant surgeries, especially in regions like the US and India, has driven demand for effective organ preservation solutions to maintain organ viability, reduce deterioration and improve success rates. This surge has prompted healthcare providers to invest in advanced preservation technologies, addressing the growing volume of organ donations. As transplant procedures become more frequent, the market for organ preservation solutions continues to expand, supporting higher transplant success rates and improved healthcare infrastructure. For example, in February 2023, at the "National Organ and Tissue Transplant Organisation (NOTTO), Scientific Dialogue 2023," a prestigious conference that brings together experts from the medical and scientific communities to discuss the latest advancements in organ and tissue transplantation, organized by the Union Health Secretary, a body under the Ministry of Health and Family Welfare, Government of India, India experienced a rapid resurgence in organ transplant activities following the COVID-19 pandemic, surpassing 15,000 transplants in 2022 for the first time. This growth was accompanied by a significant annual increase of 27% in transplant numbers, highlighting the country's improving transplant capabilities and expanding healthcare infrastructure. Additionally, in January 2023, according to preliminary data from the United Network for Organ Sharing (UNOS), a US-based private, non-profit organization that manages the organ transplantation system, in 2022, the United States achieved a new record with 42,887 organ transplants, marking a 3.7% increase over 2021. For the first time, more than 25,000 kidney transplants were performed, totaling 25,498, a 3.4% rise from the previous year. Additionally, record-high numbers were recorded for liver (9,528), heart (4,111) and lung (2,692) transplants, reflecting significant growth in the nation's organ transplant capabilities. Therefore, the rise in the number of organ transplant surgeries contributed to the growth of the organ preservation solution market.
Strategic Investment To Drive Regulatory Approval And Market Entry For Next-Generation Organ Preservation Technologies
Major companies in the organ preservation solution market are securing investments to fund regulatory approval, clinical trials and production scaling. These efforts aim to introduce advanced technologies that improve organ viability, reduce rejection rates and expand the organ donor pool, ultimately enhancing transplant success rates globally. For instance, in April 2024, Vivalyx, a Germany-based biotech company that produces a preservation liquid for optimal organ preservation before transplant, secured a €5.4 million ($5.79 million) seed round. The funds raised will be allocated towards financing the required clinical trials to obtain regulatory clearance and initiate commercialization. This financing round marks a crucial step toward bringing the company's products to market. The company recognizes significant potential in its innovations to transform the global organ transplantation industry.
The global organ preservation solution market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 4.86% of the total market in 2023.
Organ Preservation Solution Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global organ preservation solution market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for organ preservation solution? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The organ preservation solution market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider organ preservation solution market; and compares it with other markets.
Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.