Global Organ Preservation Solutions Market to Rise at 16.50% CAGR 2013-2019 due to Increasing Technological Developments
A new Transparency Market Research report states that the global organ preservation solutions market was valued at US$0.06 bn in 2012 and is expected to reach US$0.20 bn by the end of 2019, by rising at a 16.50% CAGR between 2013 and 2019. The title of the report is “Organ Preservation Solutions Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.”
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In case of organ donation surgeries, the process of the perseveration of donated organs starts after the removal of the required organ, such as liver, kidney, heart, or pancreas, from the body of the donor. The organ is placed in a number of layers of sterile containers and an icy slush mixture surrounds these sterile containers. This mixture is known as an organ preservation solution. The goal of this solution is to keep the organs cold but not frozen. This solution aids in maintaining the viability of the organs starting from the time of donation of the organ to the time of transplantation.
As per the report, the increasing technological developments are amongst the key factors fuelling the growth of the market. For instance, Lifeblood Medical, Inc.’s launch of Lifor, also known as blood surrogate, being presently used for research purposes, may effectively be employed for the preservation of veterinary and human organs in the coming years. In addition, the upswing in per capita healthcare expenditure in a number of nations globally will also have a positive impact on the market for organ preservation solutions. Furthermore, the increasing aging population globally will also augment the development of the market. On the other hand, the soaring cost of procedures and the unavailability of organ donors are amongst the chief factors that may impede the growth of the market in the forthcoming years.
On the basis of solution, the report segments the market for organ preservation solutions into Viaspan, Custodiol HTK (Histidine-Tryptophan-Ketoglutarate) Solution, RENOGRAF, HypoThermosol, PERFADEX, Lifor, Human BioSystems (HBS) Solution, siRNA Transplant Solutions, and others. Amongst these, in 2012, Custodiol HTK Solution led the market on the basis of revenue and is poised to expand at the highest growth rate in the forecast horizon. This is owing to its increasing usage in the preservation of various organs such as lungs, liver, pancreas, and kidneys.
By preservation technique, the report segments the market into hypothermic perfusion preservation (HPP), static cold storage (SCS), and others. Amongst these, SCS is leading the market owing to it being a more cost-effective and user-friendly technique for physicians in comparison to HPP. However, HPP is anticipated to experience the highest demand in the forecast period owing to its benefit of organ preservation for longer periods of time. In addition, the decreasing count of organ donors and the rising demand for organs globally will also propel the demand for HPP in the coming years.
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Geographically, the market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, in 2012, Europe led the market for organ preservation solutions owing to the rising count of donors within countries such as Spain.
Bristol-Myers Squibb, Teva Pharmaceutical Industries Ltd., Dr. Franz Kohler Chemie GmbH, and XVIVO Perfusion AB, among others are the players dominant in the market, as per this study.
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