Organ Transplant Market is Fueled by Tissue Products During the Forecast Period
The global demand for tissue & organ
transplantation and the increasing prevalence of renal disease is expected to
drive the Global Organ Transplant Market growth in the forecast period,
2024-2028.
According to TechSci Research report, “Organ
Transplant Market - Industry Size, Share, Trends, Opportunity, and Forecast,
2018–2028F” Global organ transplant market stood at USD14.56 billion
in 2022 and is expected to grow at a CAGR of 8.93% through 2028 due to high
demand for tissue and organ transplantation in the treatment of organ failure.
Organ failure can occur due to various factors such as trauma, blood loss,
poisoning, and drug abuse. Additionally, the increasing prevalence of renal
disease, alcohol consumption, and unhealthy diet contribute to the growth of
the Organ Transplantation market. A large population suffering from chronic
illness and organ failure, along with advancements in technology and the
availability of tissue banks, further boost the market. There is a global high
demand for organ replacement, particularly for kidneys, hearts, and livers.
However, the high cost of transplantation, limited donor availability, and the
occurrence of failures pose challenges to the market. The shortage of resources
is another issue faced by the market. Organ transplantation is a significant
advancement in modern medicine, involving the surgical removal of organs or
tissues from donors and their transplantation into recipients. Consent from the
patient or their family is crucial for legal and ethical practices. Major
drivers of the transplantation market revenue growth include the increased
consumption of alcohol and unhealthy lifestyle choices, leading to gradual
organ damage.
Diseases such as cardiovascular disease, diabetes,
cancer, renal illness, and Alzheimer's disease affect a significant portion of
the global population and can result in organ and tissue failure. Kidneys,
lungs, livers, pancreases, corneas, and skin are among the human organs that
can be transplanted, restoring health and improving the quality of life for
patients. Technological advancements contribute to the success rate of
transplants, while innovative software and systems facilitate organ and tissue preservation.
The growing adoption of tissue and organ transplantation is driven by
advancements in surgical technologies, improved healthcare infrastructure, and
increased awareness about organ donation. The establishment of tissue banks and
the development of advanced devices further contribute to market growth. The
evolution of 3D printing technology for creating organs and tissues is expected
to drive revenue growth in the transplantation industry. Government programs
and campaigns raising awareness about organ donation have resulted in an
increasing number of organ donors.
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Moreover, there is a significant global demand for
tissue and organ transplantation, particularly kidney, heart, liver, and lung
transplantation. This demand is driven by various factors, including poor
dietary habits, excessive alcohol consumption, lack of exercise, and drug abuse
leading to organ failure. Consequently, there is an expected increase in the
demand for transplantation products. The market growth is also fueled by the
rising prevalence of chronic diseases like cancer, heart disease, and kidney
disease. Key market players are contributing to market expansion through
product launches, as well as strategic initiatives such as mergers and
acquisitions. For example, in June 2021, CareDx, a transplant diagnostics
company, acquired Transplant Hero, a New York-based developer of a smartphone
app aimed at supporting transplant patients. These efforts by key market
players are enhancing accessibility to transplantation products and driving
market growth. Despite these positive factors, the market is restrained by
challenges such as organ donor shortages and ethical and cultural issues.
Overall, these factors are expected to have a positive impact on market growth
in the forecast period.
However, there remains a significant gap between the
demand for organ transplantation and the availability of human organs and
tissue, primarily due to lack of education, misconceptions, and religious
beliefs, which hinder market revenue growth.
The Global Organ Transplant Market is segmented into
product, application, type of transplant, end user, regional distribution, and
company.
Based on end user, the hospital segment continues to
dominate the global transplantation market in 2022 and is expected to maintain
its dominance over the forecast period. This is primarily attributed to the
increasing number of tissue and organ transplantations carried out in
hospitals, which serve as primary healthcare centers. Moreover, significant
advancements and investments in hospital infrastructure, equipped with advanced
facilities, are attracting a large audience. Conversely, transplant centers have
demonstrated the highest growth rate during the forecast period. The increasing
number of transplantations has necessitated the establishment of a large number
of healthcare centers to meet patient requirements. Additionally, government
initiatives aimed at encouraging organ donation have further contributed to the
flourishing market growth.
Based on region, North America emerged as the dominant
player in the transplantation market and is expected to maintain its leadership
throughout the study period. The region's well-established healthcare
facilities and the presence of prominent biotechnology and medical devices
companies, including Arthrex, Inc., Zimmer Biomet, Medtronic, Novartis AG, and
Stryker, have contributed to the growth of the market. The Asia Pacific market
is projected to witness the highest growth rate during the forecast period.
This can be attributed to the increasing research on stem cells for in-vitro
tissue and organ development, as well as the development of healthcare
infrastructure in Asian countries such as India, Thailand, the Philippines, and
Indonesia.
Major companies
operating in Global Organ Transplant Market are:
- Abbvie, Inc.
- Arthrex, Inc.
- Zimmer Biomet
- Medtronic plc
- Novartis AG
- Stryker Corporation
- 21st Century Medicine
- BiolifeSolutions, Inc.
- Teva Pharmaceuticals
- Veloxis Pharmaceutical
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“The growing demand for novel tissue transplantation
products and organ transplantation to treat organ failure is a significant
driver of market growth. Organ failure can result from various factors such as
severe trauma, blood loss, poisoning, drug abuse, leukemia, sepsis, and other
acute diseases. Globally, there is a high demand for tissue and organ
transplantation, particularly for kidneys, hearts, livers, and lungs. Unhealthy
dietary habits, alcohol consumption, lack of exercise, and drug abuse are among
the leading causes of organ failure. As a result, the demand for
transplantation products is expected to increase in the near future. Over the
past decade, there has been a rise in demand for organ transplantation
worldwide due to an increased prevalence of vital organ failure, improved
success rates of transplantation, and better post-transplant outcomes. The
incidence of organ failure has also increased due to the consumption of alcohol
and other harmful substances, as well as unhealthy diets leading to various
chronic diseases that affect vital organs such as the lungs, kidneys, liver,
and more. Transplantation is crucial for patients' survival, which is driving
the growth of the transplantation market. Furthermore, advancements in
transplantation methods are contributing to the growth of the market.,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Organ Transplant Market Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product (Tissue
Products, Organ Preservation Products, Transplant Diagnostics,
Immunosuppressant Drugs, Others), By Application (Organ Transplantation, Tissue
Transplantation), By Type of Transplant (Autograft, Allograft, Others), By End
User (Hospitals, Transplant Centers, Others), By Region and Competition”, has evaluated
the future growth potential of Global Organ Transplant Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Organ Transplant Market.
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