The global organ preservation market is projected to reach USD 284 million by 2024 from USD 207 million in 2019, at a CAGR of 6.5%. The growth of the organ preservation market is mainly driven by the increasing incidence of multi-organ failure, the growing geriatric population, the rising number of organ transplants and organ donors, and increasing initiatives to encourage organ donations. However, the high cost of organ transplantations and religious concerns in specific geographies are expected to limit market growth to a certain extent.
“By Solution, University of Wisconsin (UW) holds the largest market share.”
Based on the Solution, the segment is divided into UW, Custodial HTK, Perfadex and Other solutions (EuroCollins and Celsior). In 2019, the UW solution accounted for the highest share in 2019. The UW solution is used for the flushing and storage of kidneys, liver, and pancreas. It was the first intracellular preservation medium, considered the gold standard for organ preservation.
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“By Organ type, Kidney holds the largest market share and lungs is expected to grow at the highest CAGR in the forecast period.”
Kidneys account for the largest market share in the organ segment. Renal transplantation is considered the treatment of choice for patients with end-stage renal disease (ESRD) or kidney failure, diabetes etc. are all cause for the growth of this segment. Lungs market is expected to grow at a faster rate in the period of 2019 to 2024. This is mainly due to the rising prevalence of COPD and other target diseases & disorders necessitating lung transplantation.
“The Asia Pacific to witness the highest growth during the forecast period.”
Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2019–2024. The major factors driving the growth of the Asia Pacific market include favorable government initiatives, increased awareness in people and increased organ donations.
XVIVO Perfusion AB (Sweden), Paragonix Technologies (US), Dr. Franz Kohler Chemie GMBH (Germany) are the leading players in the organ preservation market.
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