Acumen Research & Consulting estimates that global Organ Transplantation market is expected to reach the market value of around US$ 6.7 Bn by 2028 and is anticipated to grow at a CAGR of around 9.9% in terms of revenue during the forecast period 2021 - 2028.
Organ transplantation remains one of the biggest milestones of medical medicine. Organtransplantation is a procedure totransplantthe organ such as liver, heart, pancreas and others from one body to the other to restore the missing or injured tissue. The approval of the recipient or the recipient's family is one of the most significant aspects of organ transplantation. Organ mining is unethical and a major felony without prior authorization. Heart transplantation is usually done by a dead brain donor who is stable with certain organs that can be used to save someone else's life. Upon the death of the patient, the transplantation of the organ must take place within a few hours.. The kidney organ is the most frequently transplanted, followed by the liver. Unfortunately, the percentage of individuals losing organs is even higher than organ transplantations. According to the National Kidney Foundation, more than 3,000 new patients are added to the list of waiting kidneys worldwide every month. According to the United Network for Organ Transplantation, 21 people in the United States die every day in search of an organ..
The report provides analysis of global Organ Transplantationmarket for the period 2017-2028, wherein 2021 to 2028 is the forecast period and 2020 is considered as the base year.
A major contributor to consumer development is the increasing need of new medicines for organ transplantation for the treatment of organ failure. Organ failure is usually due to a number of causes such as extreme injuries, organ loss, overdose, alcohol dependence, pneumonia, sepsis, etc. The demand for tissue and transplantation is very high, especially in the kidneys, heart, liver and lungs. Four of the major causes of organ failure are poor eating patterns, lack of exercise, alcohol consumption, and substance abuse. Acute disease can often lead to increased cases of organ failure. According to the United States, there were approximately 122,913 people with criteria for organ transplantation in the Department of Health & Human Services in America in 2020. This will fuel market growth due to the high demand for advanced transplantation products. In addition, the launch of high-tech products and an increase in the number of tissue banks will fuel market growth.
However, a large number of people do not want transplantations because they lack awareness about organ transplantations and social stigma. The shortage of organs for diagnosis of organ failure would therefore have a detrimental effect on the development of the market. The demand for and supply of organs for diagnosis of organ failure is enormously different. Similar to the United States In 2020, there were approximately 43,201 people with renal transplantation needs in the U.S. Department of Health & Human Services; however, only 23,401 renal transplantation operations were completed.
North America dominates the global market for organ transplantation. Rising prevalence of organ failure, increasing advances in the medical sector, well-developed health services and higher health spending are contributing to the growth of the American market.In the past decade there has been a worsening gap between demand and the supply of organ including kidneys, liver and heart. Governments and NGOs from different countries, however, undertake initiatives to encourage people to donate organs and save lives. The donation process is made more straightforward and simpler with updated standards and regulations on organ donation. The Hospital Organ Donor Campaign started in April 2020 by the Human Resources & Services Administration. As a result, organ donations from the previous year have risen.
The Asia-Pacific region is the fastest growing region in the world. Emerging markets and an increasing population of chronic diseases are key factors for the Asia-Pacific industry.
End Use Stance
Hospitals retained the largest market share in 2020 due to the increase in the number of organs and tissue transplants in hospitals as primary treatment centers, maintaining its dominant position during the forecast period. In addition, existing infrastructure hospitals are projected to build and drive growth in demand.
During the forecast era, the transplant center section is projected to show the significant growth rate. The increasing number of transplant operations has contributed to the need for more health centers to respond to the unmet needs of patients. The government is also expected to fuel business demand by increasing organ transplantation support measures. For example, the Health Care and Services Administration Division has financed four grant projects.
Key Players & Strategies
Participants include major global Novartis AG, Medtronic, Pfizer Inc., Sanofi, Preservation Solutions, Inc., TransMedics, Inc., Terumo Corporation, Organ Recovery System, AbbVie Inc., Stryker, Transonic and Others.
Organ Transplantation Market By Type
Organ Transplantation Market By End Use
The Organ Transplantationmarket value is anticipated to be worth around US$ 6.2Bn in 2027.
The Organ Transplantation market is anticipated to grow around 9.7% CAGR amid the forecast period 2020-2027.
North America held highest market share in 2019.
Asia Pacific is projected to be the fastest growing region in the global market.
Increasing number of patients suffering from liver cirrhosis and germinating prevalence of disorders caused by unhealthy lifestyleare the key drivers in the global market.
The key players operating in Organ Transplantation market such as Novartis AG, Medtronic, Pfizer Inc., Sanofi, Preservation Solutions, Inc., TransMedics, Inc., Terumo Corporation, Organ Recovery System, AbbVie Inc., Stryker, Transonic and Others.
The report provides insights on global Organ Transplantation market segment by type, end use and major geographic regions.