The Organ Transplantation Market will prove to be highly profitable in the coming years, expanding at a CAGR of 9.8% during forecast period (2017-2023), as ascertained by the recent report by Market Research Future (MRFR).
Organ transplantation is the process of replacing the damaged or diseased organ with a health organ. Organs like kidney can be donated by the living donors or even harvested from the organ donors that are brain-dead. Organ dysfunction that have been caused owing to severe injuries, organ failure and/or genetic disorders, cancer leads to the need for organ transplant procedures. Moreover, advances in the technology and development within the medical sector has made it possible for transplantation to take place. Heart, kidney, liver, lungs, and various other organs can be transplanted.
Veloxis Pharmaceuticals A/S (Denmark), Transonic (US), F. Hoffmann-La Roche Ltd. (Switzerland), Accord Healthcare GmbH (Spain), Novartis International AG (Switzerland), Terumo Medical Corporation (US), Bio Med Pvt. Ltd. (US), Transplant Biomedical (UK), Astellas Pharma, Inc (Japan), TransMedic, Inc. (US), OrganOX Limited (UK), Sanofi (France), Pfizer, Inc. (US), Preservation Solutions, Inc. (US), GlaxoSmithKline Plc. (UK) are some of the leading companies competing in the global organ transplantation market
February 2019 – Latest research done at NIHR Guy’s and St Thomas’ Biomedical Research Centre has led to a method that can predict potential rejection of a kidney transplant before it takes place, which can happen by monitoring the immune system of the patients. The team has deduced that a signature combination of seven immune genes present in the blood samples are able to predict the rejection earlier than the techniques used at present.
Organ Transplantation Market Drivers and Key Barriers
As per the National Kidney Foundation, in 2014, almost 122,737 patients in the U.S. were waiting to receive organs for transplant. Therefore, there is massive demand for advanced transplantation products to be used in treating organ failure. The global organ transplantation market is a highly competitive market, with numerous prominent companies investing in research and development (R&D), in a bid to introduce more innovative as well as efficient methods and devices. These companies are under constant pressure to launch new and cost-effective method in order to a maintain their market position or expand their customer base.
For instance, Novartis International AG, a Swiss multinational company based in Switzerland is one of the most well-known pharmaceutical companies, in addition to being the leading manufacturer of analgesic drugs. In the year 2016, the company acquired Selexys Pharmaceuticals with the motive being market expansion. Since then, the company has launched Zortress, which is the first in more than decade to be approved by FDA that prevents organ rejection in adult liver transplant patients.
The flip side to the market growth is the high cost of treatment, which can have a negative impact on the market in the coming years. Nonetheless, a growing number of organ transplantation surgeries around the world will be the driving force behind the growth of the market in years to come. Additional factors like technological advancement, increasing prevalence of chronic diseases, expanding aging population as well as changing lifestyle are also bound to promote further growth of the market.
Organ Transplantation Market Segmentation
The global organ transplantation market is segmented based on the type of organ, product, type of transplant, treatment and end-user.
The types of organ that can be transplanted are heart, kidney, liver, lungs, and other.
Product-wise, the market has been segmented into organ preservation solutions, transplant diagnostics, tissue products and other.
The types of transplant in the market are autograft, allograft and allotransplantation, xenograft and xenotransplantation and other.
By type of treatment, the market is segmented into analgesic, immunosuppressant and other. Furthermore, immunosuppressant is sub-segmented into calcineurin inhibitors, mTOR inhibitor, antiproliferative agents, steroids and other. Calcineurin Inhibitors are further segmented into tacrolimus and cyclosporine, whereas mTOR inhibitor is sub-divided into sirolimus and everolimus.
The end users in the global organ transplantation market are hospitals, transplant centers and other.
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Organ Transplantation Market Regional Insight
Region-wise, the market for organ transplantation is segmented into Europe, Asia Pacific, North America and the rest of the world (RoW).
According to the geographical distribution, America has risen to the top in the global organ transplantation market. The lucrative market growth in the region is the result of increasing prevalence of organ failure, well developed healthcare sectors, striking development in the medical sector, as well as strong healthcare expenditure.
Europe stands in the second position in the global organ transplantation market, followed by Asia Pacific. The Europe market benefits from the increasing research on stem cells to develop invitro tissue and organs coupled with the expanding healthcare infrastructure.
Asia Pacific has established itself as a strong contender, and is considered to be the fastest growing region in the global market. The presence of steadily developing nations, coupled with the large population pool afflicted with chronic diseases is working wonders for the regional market. Moreover, governments and various NGOs in the region are taking initiatives that are encouraging people to donate organs, thereby saving lives. To illustrate, in the year 2013, the government in Australia had conducted a national reform program for increasing organ donation as well as transplant. This move proved to be fruitful as there was an excellent growth in the number of organ donations compared to the previous year.
The organ transplantation market in the Middle East and Africa is steadily reaching a lucrative point in the global market, owing to ongoing investments in the existing models of organ donation, governmental legislations, and use of media and technology for increasing awareness.