High Prevalence of Chronic Diseases and Increasing Investment in Organ Preservation to Augment Growth of Organ Preservation Market

 

Organ Preservation Market

Organ preservation plays a major role in organ transplant and treatment and management of chronic diseases. It can be used to preserve organs such as the liver, pancreas, and kidneys. Organ preservation can be used to preserve organs for around 72 hours.

Market Dynamics

High prevalence of chronic diseases is expected to propel growth of the organ preservation market. For instance, the U.S is expected to record 1,806,590 new cases of cancer and 606,520 deaths from the disease in 2020, according to National Cancer Institute. Moreover, high demand for organ transplant is also expected to boost growth of the organ preservation market.  For instance, according to the U.S. Government Information on Organ Donation and Transplantation, over 112,000 patients are on the national transplant waiting list as of March 2020.

Increasing investment in organ preservation is expected to offer lucrative growth opportunities for players in the organ preservation market. For instance, in January 2020, BGF, a U.K and Ireland-focused SME investor, offered US$ 6.38 million to OrganOx, a medtech solutions provider, for launch of its first product.

There are some limitations in organ preservation, which is expected to hinder growth of the organ preservation market. These limitations include, tissue damage, difficulty in assessing donor organ function, and limited opportunity for organ repair.

North America is expected to witness significant growth in the organ preservation market, owing to increasing number of organ transplants in the region. For instance, according to American Heart Association 2019 Heart Disease and Stroke Statistics, 1,016,000 cardiac catheterizations and 3,244 heart transplants were performed in the U.S. in 2014 and 2017, respectively.  Moreover, increasing adoption of organ preservation devices in the military and defense sector is also expected to propel growth of the market in the region. For instance, in 2019, Department of Defense, U.S. Federal Government, announced to use limb, organ preservation devices in various experiments.   

Asia Pacific is expected to witness significant growth in the organ preservation market, owing to low cost of healthcare facilities in the region.

Competitive Analysis

Major players operating in the global organ preservation market include, Teva Pharmaceutical Industries Ltd., Dr. Franz Vascular Perfusion Solutions, Inc., Köhler Chemie GmbH, BioLife Solutions, XVIVO Perfusion AB, Bristol-Myers Squibb, Inc., and ToleroTech, Inc., Lifeline Scientific, Preservation Solutions Inc., Claris Injectables Limited, 21st Century Medicine, Paragonix Technologies Inc., BioTime, Inc. CryoLife, Inc., Bridge to Life, Ltd., and Dr. Franz Köhler Chemie GmbH.

Major players operating in the global organ preservation market are focused on adopting M&A strategies to expand their product portfolio. For instance, in February 2021, Bridge to Life, Ltd. merged with Tevosol, Inc., a clinical stage medical device startup, to develop and commercialize new products for the organ transplantation.

Major players operating in the global organ preservation market are also focused on approval and launch of new products to expand their product portfolio. For instance, in February 2021, Vascular Perfusion Solutions, Inc. was granted the U.S. FDA Breakthrough Device Designation for VP.S Encore oxygenated perfusion cardiac transport device.

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