Organ Care Product Market
Organ Care Products Market to Reach US$ 2.8 Bn by 2032, driven by the Increase in the prevalence of chronic diseases, rise in geriatric population surge in adoption of unhealthy lifestyle, rise in cases of organ failures, increase in awareness about the organ transplant, and surge in alcohol & cigarettes consumption: Global Insight Services
New York, March 2023: According to a new research study by Global Insight Services (GIS), the global Organ Care Products market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 2.8 Billion by 2032.
Organ care products are medical devices developed for storing donor organs for a longer period while providing the necessary nutrients to the organ. This device is used to store organs for a specified period. Organs must be kept in optimal conditions and can be entirely managed before an organ transplant. This technology aids in monitoring organs such as kidney, liver, heart, and lungs to ensure optimum conditions. Organ care products contain one or more pump units, thermo units, and trolleys. Furthermore, organ care products can be customized for different types of organs.
Request Sample Pages of this Research Report:
Organ Care Products Market: Key Trends and Drivers
Technological advancements in organ care products market will further create significant growth opportunities. Product developments have improved the quality of organ care, thereby increasing procedural success rate. New technologies providing advanced features and enabling easy functioning will boost the product acceptance rate. Furthermore, benefits associated with organ care systems such as organ preservation at optimal condition, easy transportation and convenience in workflow will propel the industry growth. However, high cost of transplantation procedures restricts the preference in low and middle-income groups.
Organ Care Products Market: Restraints & Challenges
On the other hand, presence of poor cancer diagnostic facilities in many countries and the adverse effects of chemotherapies are expected to obstruct market growth. Also, stringent regulations are projected to challenge the market in the forecast period. This lung cancer therapeutics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on lung cancer therapeutics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Organ Care Products Market Report Findings
The portable Techniques segment is likely to hold a dominant Organ Care Products market share and grow at a substantial CAGR during the forecast period.
On the basis of type, it is segmented into portable, and trolly-based. Portable organ care products market accounted for more than xx% of revenue share in 2022 led by the increasing adoption of portable devices as it offers high mobility and convenience during the transport. Further, the development of innovative systems for expanded application areas will offer unprecedented growth opportunities. As portable system helps in easy organ monitoring, it assists professionals to improve patient throughput. Therefore, high product acceptance will foster segment expansion.
The heart segment is anticipated to hold a majority of the Organ Care Products market size throughout the study period.
By organ type, the industry is classified into Kidney, Liver, Heart, Lungs, and Others. Among these heart segment accounted for USD xx Million in 2022. Population aging and lifestyle changes are some of the prominent factors responsible for the segment growth as it increases the risk of heart failure. Increasing need for heart transplantation to cater growing disease burden will offer growth opportunities to the segment. Further, the need for optimal solutions to reduce procedural complexity and time will drive the product demand.
The hospital segment is anticipated to hold a majority of the Organ Care Products market size throughout the study period.
By end-user, organ care products market has been segmented into hospital, ambulatory surgical center, and others. During the forecast period, the hospital segment is expected to grow at the fastest CAGR of xxx% in the market. The segmental growth is attributed to the rising prevalence of respiratory diseases along with the growing need for critical patient care. According to the Center for Disease Control and Prevention report, every year, approximately 136 million patients visit emergency rooms in the U.S. Furthermore, emergency centers are equipped with experienced physicians and crisis management teams. These teams are thoroughly trained and prepared for emergencies. Such advantages lead to business expansion.
The North America region is estimated to exhibit the highest growth rate during the Organ Care Products market forecast period.
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to hold a significant market share owing to the rising demand for organ transplantations and increasing organ donation. Additionally, the quick adoption of advanced technologies in the organ’s care systems and the presence of key market players are driving factors for the North American market. For instance, the data published by Organdonor.gov in March 2022 mentioned that nearly 105,800 patients were on the national transplant waiting list. The report also noted that more than 40,000 transplants were performed in 2021. Similarly, the CIHI data published in June 2022 mentioned that 2,782 organ transplants were performed in Canada in 2021. Such a high volume of organ transplant surgeries and increasing demand for organ transplantations are expected to contribute to the region’s market growth. The prevalence of organ failure is another contributing factor. The data published by American Kidney Fund in February 2022 mentioned that nearly 810,000 Americans survive kidney failure, and over 240,00 Americans live with kidney transplants.
Have a question for our analyst:
The key players in the Organ Care Products market are Bridge to life Ltd., TransMedics, Inc., XVIVO, OrganOx Limited, Organ Recovery Systems, Paragonix Technologies, Inc., INSTITUT GEORGES LOPEZ, Preservation Solution Inc., Organ assist BV, and Water Medical System, among others.
Recent Developments in the Organ Care Products Market:
- In December 2021, OrganOx announced the USFDA premarket approval of Metra system. It is a fully automated NMP (normothermic machine perfusion) device to preserve and transport donor livers for transplantation. The marketing approval includes livers from donors after brain death (DBD) and donors after circulatory death (DCD).
- In October 2021, Paragonix Technologies announced the clinical and commercial launch of the LIVERguard Donor Liver Preservation System in the US and Europe, along with its global clinical registry GUARDIAN-LIVER (Global Utilization and Registry Database for Improved preservation of donor LIVERs). This system is designed for consistent and repeatable standardized cold storage of livers, regardless of time, geography, or unforeseen conditions.
- In September 2021, TransMedics Group, Inc. announced the USFDA premarket approval for its OCS Liver System to preserve organs after DBD and DCD. The system is used to preserve and monitor hemodynamic and metabolic function, which allows for ex-vivo assessment of liver allografts from DBD and DCD donor livers based on the OCS Liver PROTECT Trial.
Organ Care Products Market Report Coverage
- The report offers a comprehensive quantitative as well as qualitative analysis of the current global Organ Care Products market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
- A thorough analysis of market trends and restraints is provided.
- Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
- The forecasts in this report are made by examining the recent trends along with future Organ Care Products market potential from 2022 to 2032 in terms of revenue.
- Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Organ Care Products market are also analyzed.
- Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global kidney stones management market.
Global Organ Care Products Market Segmentation
By Organ Type
- Ambulatory Surgical Centers
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Rest of World
- Latin America
- Middle East
- Bridge to life Ltd.
- TransMedics, Inc.
- OrganOx Limited
- Organ Recovery Systems
- Paragonix Technologies, Inc.
- INSTITUT GEORGES LOPEZ
- Preservation Solutions, Inc.
- Preservation Solution Inc.
- Organ assist BV
- Water Medical System