Global organ care products market value is expected to surpass USD 295 million by 2028, according to a new research report by Global Market Insights Inc. Expected increase in number of donor organs in future with supportive government programs to influence organ donation rate will foster the industry demand.
Technological advancements in products will enhance the market growth during the forecast period. Industry players operating in the market are focused towards continuous development to introduce newer technologies offering high outcomes. Significant investment in research and development activities will result into new product launches, thereby expanding the product availability. Recently, TransMedics received the U.S. FDA premarket approval (PMA) for OCS Liver System with expanded application to use with organs from donors after circulatory death and after brain death. The commercialization of such products enables ease and convenience in organ transportation and is expected to boost the product adoption rate.Lungs organ segment is projected to register over 16% CAGR during the forecast period. According to the World Health Organization, nearly 65 million people are expected to suffer from chronic obstructive pulmonary disease (COPD) leading to approximately 3 million deaths each year, worldwide. People with advanced stage COPD are highly exposed to the risk of lung failure requiring transplant. Thus, rising disease prevalence will benefit the segment growth.
Some major findings of the organ care products market report include:
Growing need for organ transplantation with increasing risk of organ failure among patients suffering through chronic diseases will stimulate the industry statistics.
Continued product advancements to offer safe and effective organ preservation solutions will highly impact the organ care products demand.
Developing healthcare infrastructure to broaden facility network for transplantation procedures will spur the market outlook.
Major players operating in the organ care products industry include TransMedics, Bridge to Life ltd., XVIVO, OrganOx Limited and Organ Recovery System among others.
Browse key industry insights spread across 101 pages with 128 market data tables & 13 figures & charts from the report, “Organ Care Products Market Statistics By Organ Type (Kidney, Liver, Heart, Lungs), Product Type (Trolly, Portable), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:Asia Pacific organ care products market is anticipated to expand at a CAGR of around 18% during the forecast timeframe. The increasing incidence of chronic diseases leading to higher risk of organ failure is one of leading factors boosting the product demand in the region. Furthermore, expanding availability of advanced products and leading industry players expanding their business in Asian countries will strengthen the industry growth potentialAbout Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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