Major Growth Influencing Factors:

Growth in organ preservation 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.

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.

Impact of COVID19 on Global Growth:

COVID-19 is an infectious disease caused by the most recently discovered novel coronavirus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks. The World Health Organization (WHO) declared COVID-19 as a pandemic on March 11, 2020.

The pandemic has disrupted healthcare systems worldwide, with hospitals being overwhelmed due to the increasing influx of patients. Temporary hospitals were also set up to deal with the growing number of cases. The coronavirus disease has had an impact on all facets of healthcare, including the execution of life-saving procedures like organ transplantation by altering the process of organ donation and recovery. The spread of COVID-19 has profoundly impacted organ donation and transplantation worldwide.

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It has disrupted these actions and significantly reduced donation and transplant activities across the globe, leading to a decline in the demand for organ preservation products. In many countries, transplants from deceased donors were limited to only urgent situations and transplants from living donations were put on hold during the period of the outbreak. This resulted in lost opportunities for a large number of vulnerable patients on transplant waiting lists.

The pandemic has also resulted in a decrease in the number of potential deceased organ donors, saturation of healthcare systems and ICU capacities, limited access to donor and recipient testing for the infection, and challenges in travel/transport logistics for retrieval teams and donated organs.

Expected Revenue Surge in Coming Years:

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%.

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 (Source: Organ Procurement and Transplantation Network, US). 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.

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.

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Geographical Growth Dynamics:

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 Market 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).

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