Global Transplantation Market Poised to Register Significant Growth and Reach USD 24.09 billion by 2026
Published | 28 August 2020
According
to BlueWeave Consulting, the Global Transplantation Market worth is expected to
reach USD 24.09 billion by 2026 from USD 13.7 billion in 2019, at a CAGR of 8.4%
during the projection period. The market is driven by growing prevalence of
chronic diseases and increasing incidence of burns & accidents across the
world and eventual organ failures. It thrives on the demand for organ
transplants, tissue products, immunosuppressant drugs and preservation
solutions. Also, the technological advancements in products and transplants
support the market growth coupled with high success rate of transplant
procedures. The wide prevalence of organ-threatening diseases such as diabetes,
cancer, heart diseases, renal diseases lead to organ failures requiring
transplantation. Market players respond with new product launches or
application to cater to the transplantation needs with their existing organ
& tissue procurement and preservation transplant services. Besides, rising
regulatory approvals for innovative products and applications as well as new
guidelines for organ donations improve the market prospects of transplantation.
Transplantation
essentially involves removal of organ or tissue from one body and placement of
the same in the recipient’s body, to replace the failed or damaged organ. The
human organs such as kidney, lung, liver, pancreas, cornea and skin can be
transplanted. Transplants help rebuild healthy body and live healthy life.
Advancements in technology have helped increase the success rate of
transplantation world over. The substantial rise has been noticed in tissue
transplants with advanced products. Besides, advanced software and systems
facilitate convenient preservation of tissues and organs.
The
Global Transplantation Market is segmented based on Product Type (i.e., Tissue
Products, Immunosuppressive Drugs, Preservation Solution), Application Type (i.e.,
Organ Transplant, Tissue Transplant) and End-User (i.e., Hospitals, Transplant
Centers, Others.
“Tissue Product Segment and Tissue Transplant Application
Segment dominate the Transplantation Market.”
Tissue
Products secure major part of revenues and the segment is expected to retain
its share because of the high demand and advancements in products (such as 3D
Bioprinting) during the forthcoming period. The rising number of cochlear,
orthopedics soft tissues, heart valves and bone marrow transplantation
procedures combined with new product development propel the segment growth. The
Immunosuppressant Drugs and Preservation Solutions are supplementary products
for organ transplants and are expected to witness moderate growth.
In
terms of application, the market is divided into Organ Transplant and Tissue
Transplant. The Tissue Transplant Application segment holds approximately 60%
share of the market and is expected to retain the same with substantial CAGR
during the forthcoming period. The demand for tissue transplant is attributed
to escalating commonly performed procedures for replacement of skin, cornea,
bones, veins, valves, tendons among others. Even increasing burn and accidental
injuries also lead to more demand for tissue transplants.
“Key Growth Drivers of the
Transplantation Market are Increasing Demand for transplants and their high
success ratio.”
The prevalence of chronic
and acute diseases eventually leads to organ or tissue failures, requiring
transplantation. The major causes for organ failure are loss of blood,
leukemia, sepsis, drug abuse, severe trauma, among others. Besides, the
patients and medical professionals are increasingly adopting transplantation
due to its high success rate. In cases of burns, accidents and many diseases transplantation
gives a new life. New diseases are also being treated with transplants with the
advancement of transplant science. The growing incidence of these diseases
among large population ensures the growth of transplantation market during the
projected period. Besides, the market players introduce new products and
technologies strengthening the market growth.
“North
America makes its presence felt in Transplantation Market.”
North America Healthcare sector is massive characterized by presence of highly-skilled professionals, well-developed healthcare facilities, use of advanced technology, health-conscious and aware population, substantial healthcare expenditure outlay and major pharmaceutical and existence of healthcare devices manufacturing companies. It is a major market for transplantation and is expected to grow substantially because of the presence of key players, large number of transplant centers and technological advancements. France, UK and other European countries have also established healthcare infrastructure, assuring bright market prospects for the transplantation. Asia Pacific is also anticipated to register accelerated CAGR during the projection period on account of growing healthcare infrastructure, awareness about stem cells and government initiatives in favor of organ donations.
“The leading players” in the market are Abbvie, Inc., Arthrex, Inc., Medtronic PLC, Teva Pharmaceuticals, Zimmer Biomet, Strykers, Novartis AG, Veloxis Pharmaceuticals, 21st Century Medicine, BiolifeSolutions, Inc and others.
The in-depth analysis of the report provides the growth
potential, upcoming trends, and statistics of the Global Transplantation Market size & Projection. The report promises to
provide latest know-hows of Global Transplantation Market and industry
insights, which help decision-makers to make sound strategic decisions.
Furthermore, the report also analyzes the market drivers, challenges, and
competitive dynamics.
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Publish Date: August 2020
Transplantation refers to the medical procedure of removing an organ from one body and placing the same in the body of the recipient to replace the failed organ. Multiple organs viz., heart, lung, liver, skin, pancreas, kidney, cornea, can be transplanted. Transplants are essential to lead a healthy life in case of organ and tissue damage.
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