COVID-19 Impact on Organ Preservation Market
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. 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.
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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:
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%.
Growth Boosting Factors:
The growing geriatric population, increasing cases of multi-organ failure, rising number of organ transplants and organ donors, and growing initiatives to encourage organ donations are the major drivers for the growth of this market.
The kidney segment accounted for the largest share of the organ preservation market in 2020
Based on organ type, the organ preservation market has been segmented into kidney, liver, lung, heart and pancreas. The kidney segment accounted for the largest share of the organ preservation market in 2020. This can be attributed to the escalating cases of ESRD with kidney transplantation as the suggestive line of therapeutic treatment that will increase the number of kidney transplant procedures leading to the preservation of the donor’s kidney before its transplantation into the recipient.
End Users:
The organ transplant centers segment accounted for the largest share of the organ preservation market in 2020
Based on end user, the organ preservation market is segmented into organ transplant centers, hospitals, and specialty clinics. In 2020, the organ transplant centers segment accounted for the largest share of the organ preservation market. The large share of this segment can be attributed to the large number of hospitals having transplant programs to offer the organ transplantation procedure to patients.
Geographical Growth Scenario:
Asia-Pacific is expected to register the highest CAGR in the organ preservation market
The Asia-Pacific market is expected to grow at the highest CAGR from 2021 to 2026. This can be attributed to factors such as the favorable government initiatives, increased awareness in people and increased organ donations. The universal government regulations in China and Japan (including for transplantation & related organ donation procedures), expanding healthcare infrastructures, increasing prevalence of chronic diseases, and growing medical tourism in RoAPAC countries will contribute to market growth in the APAC.
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Global Leading Companies:
The prominent players in the global organ preservation market are 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, Inc. (US), and TX Innovations (Netherlands).
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