The Business Research Company's Organ Preservation Solution Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
Market Size and Growth
The organ preservation solution market size is projected to grow from $274.48 billion in 2023 to $295.92 billion in 2024, achieving a compound annual growth rate (CAGR) of 7.8% during this period. This growth is driven by increased organ transplants, rising awareness of organ donation, expanding healthcare infrastructure, and a higher incidence of organ failure.
In the forecast period, the market is expected to continue its robust growth, reaching $406.07 billion by 2028 at a CAGR of 8.2%. Factors such as the demand for extended criteria organs, expansion of organ procurement programs, emphasis on organ quality and functionality, and global initiatives to combat organ shortage will fuel this expansion.
Driver: Rise in Organ Transplantation
The surge in organ transplantation activities globally is a primary driver for the organ preservation solution market. These solutions play a critical role in reducing organ damage during transportation and storage, thereby enhancing organ viability for successful transplantation.
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Major Players and Technological Advancements
Key players in the market, including Bristol-Myers Squibb Company, Baxter International Inc., and Teva Pharmaceutical Industries Ltd., are focusing on technological advancements such as organ tracking technology. For example, Paragonix Technologies Inc. launched the VantagePoint organ tracking technology in October 2022, enhancing transparency and accountability in donor organ transportation.
Trends: Innovations in Preservation Techniques
Major trends in the market include the application of preservation solutions in organ banking, extended preservation times, integration of additives for enhanced preservation, and development of portable organ preservation devices. Collaborations for research and innovation are also driving advancements in organ preservation techniques.
Segments
•Solution Type: Viaspan, Custodiol-HTK (Histidine-Tryptophan-Ketoglutarate), Renograf, Hypothermosol, Perfadex, Lifor, HBS (Hyperosmotic Blood Substitute) Solution, siRNA (Small Interfering RNA) Transplant Solutions, Other Solution Types
•Organ Type: Kidneys, Liver, Lung, Heart, Other Organ Types
•Technique: Static Cold Storage (SCS) Technique, Hypothermic Machine Perfusion, Other Techniques
Geographical Insights: Asia-Pacific Leading Growth
North America dominated the organ preservation solution market in 2023, while Asia-Pacific is expected to witness the fastest growth during the forecast period. Detailed insights into regional dynamics and growth opportunities are available in the complete report.
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Organ Preservation Solution Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Organ Preservation Solution Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on organ preservation solution market size, organ preservation solution market drivers and trends, organ preservation solution market major players, competitors' revenues, market positioning, and market growth across geographies. The organ preservation solution market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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