Research Methodologies Followed for This Study:

Primary Research:

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for Organ Preservation Market. Primary sources from the supply side and demand side are detailed below. Industry experts such as CEOs, presidents, vice presidents, directors, marketing directors, marketing managers, and related executives from various key companies and organizations in the organ preservation industry were interviewed to obtain and verify both the qualitative and quantitative aspects of this research study. A robust primary research methodology has been adopted to validate the contents of the report and fill in the gaps.

Secondary Research:

This research study involved the use of comprehensive secondary sources; directories and databases such as DB, Bloomberg Business, and Factiva; and white papers, annual reports, and companies’ house documents. Secondary research was used to identify and collect information for this extensive, technical, market-oriented, and commercial study of the organ preservation market. It was also used to obtain important information about the top players, market classification, and segmentation according to industry trends to the bottom-most level, geographic markets, technology perspectives, and key developments related to the market. A database of the key industry leaders was also prepared using secondary research.

Global Growth Dynamics:

Growth in this market is majorly driven by the increasing incidence of multi-organ failure, the growing geriatric population, the rising number of organ transplants and organ donors, and increasing initiatives to encourage organ donations.

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Revenue Growth Expectations, Globally:

The organ preservation market is projected to reach USD 317 million by 2026 from USD 230 million in 2021, at a CAGR of 6.6%.

Restraint: High cost of organ transplantation

Organ transplantation is a resource-intensive procedure involving highly paid doctors and surgeons, expensive transportation, and pricey drugs that make it expensive. The charges associated with inpatient care, organ procurement, preservation, post-operative recipient care, and anti-rejection medication increase the overall cost. Patients also need to incur additional costs of traveling, lodging, meals, hospital visits, and other medical testing expenditures for evaluation or follow-ups scheduled at the transplant center for an advised time period of medical supervision.

Challenge: Significant gap between the number of organs donated and organs required annually

Currently, there is a significant gap between the number of organs donated and the number of organs required. In the US, the total number of patients on the waiting list for organs was over 100,000 (106,588 as of January 2022). Only 41,354 transplants were performed by the end of 2021. The limited number of organs donated annually is mainly due to a lack of awareness related to organ donation, poor legislative measures, and the increased risk of organ trafficking. Governments of various countries are also implementing reformed laws and initiatives to encourage people to donate organs.

Opportunity: Growing healthcare investments

Governments across the globe are focusing on strengthening their healthcare infrastructures to provide enhanced healthcare facilities. For example, in India, the Brihanmumbai Municipal Corporation allocated nearly USD 924 million (INR 7,000 crore) or 15% of its 2022–2023 budget to upgrade health services and establish 100 health centers with more than 100 diagnostic tests for preventive and primary treatment in BMC areas.

These infrastructural developments will lead to an increased number of hospitals that treat more brain-dead patients who might be suitable donors. The increasing number of testing laboratories will also improve the time concerned with donor-recipient cross-matching, subject profiling, genotyping, and other related diagnostic tests during the pre-transplantation period. These developments are expected to create new opportunities for the organ preservation market.

End Users:

The organ transplant centers segment accounted for the largest share of the organ preservation market in 2020

Based on end user, the market is segmented into organ transplant centers, hospitals, and specialty clinics. The organ transplant centers segment accounted for the largest share of the organ preservation market in 2020. The increasing number of transplant centers across the globe is the key factor driving the acceptance of this end-user segment and propelling the market growth.

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North America accounted for the largest share of the organ preservation market in 2020

In 2020, North America accounted for the largest share of the market, followed by the Asia Pacific, Europe, Latin America, and the Middle East Africa. The large share of this region can be attributed to factors such as the growing demand for and adoption of organ transplantation as a result of the rising number of chronic diseases such as end-stage diseases. The need for preservation solutions to protect the viability of organs in ex-vivo environments in the region is also a key factor contributing to the large share of North America in the organ preservation market.

Key Players:

The prominent players in the organ preservation market include Paragonix Technologies (US), XVIVO Perfusion AB (Sweden), Dr. Franz Köhler Chemie GmbH (Germany), Essential Pharmaceuticals, LLC (US), TransMedics (US), OrganOx Limited (UK), 21st Century Medicine (US), Shanghai Genext Medical Technology (China), Bridge to Life Limited (US), Waters Medical Systems (US), Preservation Solutions (US), Carnamedica (Poland), Transplant Biomedicals (Spain), Institut Georges Lopez (France), Global Transplant Solutions (US), Avionord (Italy), Organ Preservation Solutions (England), EBERS (Spain), S.A.L.F. (Italy), Biochefa (Poland), Vascular Perfusion Solutions (US), and TX Innovations (Netherlands).