According to Precedence Research, the transplantation market size is expected to reach over US$ 27.07 billion by 2027 and is expanding growth at a CAGR of 9.5% during the forecast period 2020 to 2027.
According to Precedence Research, the transplantation market size is expected to reach over US$ 27.07 billion by 2027 and is expanding growth at a CAGR of 9.5% during the forecast period 2020 to 2027.
Growth Factors
Organ donation and registration have become more widely recognized in recent years. Organ registration’s widespread appeal is expected to have a favorable impact on market dynamics. In addition, increased chronic disease prevalence is expected to boost transplantation market growth in the approaching years. Furthermore, government cooperation has aided organ donor registration acceptance. However, there remains a significant demand and supply gap between organ donors and recipients. However, advances in organ transplant surgery technology are expected to slowly close the supply-demand imbalance.
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A major factor driving the transplantation market growth is the growing need for innovative tissue transplantation products and transplantation for the treatment of organ failure. Organ failure can be caused by a number of things, including severe trauma, blood loss, poisoning, drug misuse, leukemia, sepsis, and other acute disorders. Diabetes and high blood pressure, for example, are the most common caused of end-stage renal disease, which requires a kidney transplant or dialysis to keep a patient alive. The need for tissue and organ transplantation, particularly kidney, heart, liver, and lungs transplantation, is quite high around the world.
The market is also being boosted by the launch of technologically improved products and an increase in the number of tissue banks. On the other hand, the factors such as a shortage of organ donors for transplantation are projected to limit transplantation market expansion. The surge in demand for organs for transplantation surgeries is far greater than the rising supply as well as a lack of awareness regarding organ donation.
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Report Highlights:
- Based on the product type, the tissue segment dominated the global transplantation market in 2020 with highest market share. The introduction of new, improved products, for example, can improve treatment.
- Based on the application, the tissue transplantation segment dominated the global transplantation market in 2020 with highest market share. The conductivity of a large number of tissue substitutes is responsible for the dominance. Furthermore, the rise in the frequency of vehicle accidents is expected to increase demand for tissue products.
- Based on the end use, the hospital segment dominated the global transplantation market in 2020 with highest market share. The availability of well-established databases for organ obtainability in most institutions is expected to drive the market growth.
- North America is the largest segment for transplantation market in terms of region. The region’s dominance can be attributed to a well-developed healthcare infrastructure as well as regional leaders.
- Asia-Pacific region is the fastest growing region in the transplantation market. This is due to the expanding number of chronic diseases and the region’s growing geriatric population.
Future of Transplantation Market
The transplantation industry is anticipated to be transformed by new technologies such to be transformed by new technologies such as 3D printing, which focuses on tissue/organ printing on one side of the body. The fundamental difficulty. However, is a shortage of organ donors and an increase in recipients worldwide. The transplantation sector is expected to benefit from an increase the number of burn patients and vehicle accidents. Furthermore, governments’ international initiatives have resulted in an increase in the number of organ donors, which may help the transplantation industry in the near future.
COVID-19 Impact Analysis:
- The COVID-19 outbreak has put a severe strain on the healthcare system. Current patients and new patients being admitted to government and private institutions has caused a delay in the treatment of existing individuals globally for both non-urgent and elective surgeries in ambulatory care centers and hospitals, which had an influence on the transplantation market.
- As a result, the number of donor registrations has decreased. Fear of infection has also resulted in the rejection of donor organs. The supply of organ transplants has fallen well short of the demand from recipients and donors.
Key Developments in the Marketplace:
- CollPlant Biotechnologies announced the expansion of their relationship with United Therapeutics Corporation in September 2020.
- AbbVie purchased Allergan in May 2020 in order to expand its product line and sales channel.
- Surgeons in Baltimore completed the first ever kidney transplant on a living donor who was suffering from HIV in March 2019. This surgery was a turning point in the medical history for people who require a new organ due to immunodeficiency syndrome.
- Boston-based technology firm named PARAGONIX technologies developed a novel organ transport system in April 2019 that will be significantly safer and efficient than previous approaches.
- INSTYRATEK, a leading manufacturer of minimally invasive soft tissue recession devices for treatments, was acquired by STRYKER in September 2016.
Some of the prominent players in the transplantation market include:
- Medtronic PLC
- Arthrex, Inc.
- Strykers
- Teva Pharmaceuticals
- Zimmer Biomet
- Novartis AG
- Abbvie, Inc.
- Veloxis Pharmaceutical
- BiolifeSolutions, Inc.
- 21st Century Medicine
By Product Type
- Immunosuppressive Drugs
- Tissue Products
- Preservation Solution
By Application
- Tissue Transplantation
- Organ Transplantation
By End-use
- Transplant Centers
- Hospitals
- Others
By Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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