The global organ preservation market is expected to grow at a CAGR of above 9% from 2017-2021, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global organ preservation market from 2017-2021. (Graphic: Business Wire)
Global organ preservation market segmentation by solution type and end-user
Technavio's report on the global organ preservation market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by solution type, including intracellular and extracellular. As projected in 2016, approximately 52% of the market share originated from the intracellular solution segment.
Based on end-user, the global organ preservation market has been segmented into hospitals and organ banks. As of 2016, approximately 63% of the market share came from hospitals. Due to the high volume of organ transplants, hospitals use organ preservation techniques. Contribution to the higher share of the segment is done by the large-sized hospitals with over 500 beds and the availability of developed infrastructure. Hospitals are a key end-user of organ preservation as the need for the proximity of available organs is essential.
"The requirement for organ preservation is higher in hospitals as compared to organ banks. The reason for this is, organ failures in hospitals, high number of patients declared brain dead, and increasing number of unsuccessful operations," says Tasneem Ali, a lead analyst at Technavio for lab equipment research.
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Organ preservation market: competitive vendor landscape
The vendors in the market compete on factors such as price and innovation. With innovations in preservation enabling longer shelf life of organs without affecting their viability and entry of new vendors, the competition is expected to intensify. Vendors are constantly competing to increase their market share. Many strategies for marketing and manufacturing of organ preservation products have been devised. Several new vendors are also entering the market due to the opportunity for growth.
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Other topics covered in the report:
Market drivers:
- Unhealthy lifestyle and increasing number of accidents causing organ failure
- Growing aging population
Market challenges:
- Long waiting time for organ transplantation
- Organ trafficking and illegal commercialization
Market trends:
- Advent of warm perfusion organ preservation systems
- Innovations in supercooling organ preservation
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