Global Organ Preservation Market worth $262.06 million and CAGR 8.2% by 2022
Sarasota, FL -- (SBWIRE) -- 08/11/2017 -- Zion Market Research has published a new report titled "Organ preservation Market By Technique (Static Cold Storage, Hypothermic Perfusion Preservation And Other Techniques), By Preservation Solution (Viaspan, Custodiol HTK, Renograf, Perfadex, Human Biosystem (HBS) Solution, Lifor and Others) For Kidney, Lung, Liver, Heart And Other Organs: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022". According to the report, the global Organ Preservation Market accounted for USD 163.32 million in 2016 and is expected to reach USD 262.06 million by 2022, growing at a CAGR of around 8.2% between 2017 and 2022.
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Organ preservation is the supply line for organ transplantation. Organ preservation is utilized to maintain organs' quality before transplantation as these organs are powerless in outside atmosphere and ended up broken once taken out from the human body. Organ preservation plays a key role in efforts to overcome the shortage of organ donors while addressing changing demographics of the donor pool by making organs viable for transplantation that was previously not utilized.
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The major drivers for organ preservation market include rising solid organ transplantation procedures. In addition, increasing geriatric population globally coupled with rising multi-organ breakdown cases is also expected to boost this market in coming five years. Furthermore, increasing government initiatives to promote organ donation will also fuel the growth in this market. However, the high cost of purchase and limited scope at the level of end users are expected to hamper the market growth in coming five years. In spite of these restraints, research and development in the organ preservation market are expected to be an opportunity for this market in the forecast period.
In technique segment of global preservation market, hypothermic perfusion preservation (HPP) is expected to witness a significant growth in coming five years because the static cold storage method is constrained by restrictive cold ischemia times that vary according to the type of organ (e.g. 24 hours for kidney, 12–15 hours for liver, a max of 8 hours for lung and <6 hours for heart) but these constraints have been eased significantly by the alternative approach to hypothermic preservation involving machine perfusion.
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On the basis of the organ type global organ preservation market is segmented into kidneys, lung, liver, heart and other organs. Preservation of kidney accounted for the largest market share in 2016 owing to the increasing aging population coupled with increasing prevalence of kidney failures. As per the National kidney foundation, more than 80% of all patients who receive treatment for kidney failure are in affluent countries with universal access to health care and large elderly populations.
In terms of geography, North America dominated the organ preservation market in 2016. Market growth in this region is attributed to favorable reimbursements scenario within some provinces in Canada and increasing number of organ transplants. Europe is expected to capture the second lead in this market in coming five years owing to a substantial contribution from Spain and technological advancements. Organ preservation market in Asia-Pacific is expected to witness the fastest growth rate within the forecast period due to increasing per capita healthcare expenditure.
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The report presents comprehensive competitive outlook with company profiles of the key players operating in the global market. Key participants profiled in the report include BioLife Solutions, Inc., BioTime, Inc., Claris Lifesciences Limited, CryoLife, Inc., Bristol-Myers Squibb, Lifeline Scientific, Dr. Franz Köhler Chemie GmbH, Teva Pharmaceutical Industries Ltd., Preservation Solutions, Inc., ToleroTech, Inc., among others.
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