Global Industry Growth Boosting Factors:
# Growing geriatric population and subsequent growth in cases of multiple organ failure
# Increasing initiatives to promote public awareness and encourage organ donation
# Rising number of organ donors and growing adoption of solid organ transplantation procedures
COVID-19 impact on the 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.
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.
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Expected Growth Rate:
The global organ preservation market is projected to be growing at a healthy rate of 6.6% during the forecast period.
Major Objectives of This Study:
# To define, describe, and forecast the organs preservation market based on solution, technique, organ type, end user, and region.
# To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
# To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall organ preservation market.
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for market players.
# To estimate the market size and growth potential of the market segments with respect to five key regions-North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
# To profile the key players operating in the organ preservation market and comprehensively analyze their revenue shares and core competencies.
# To track and analyze competitive developments such as product launches & approvals, partnerships, agreements, collaborations, expansions, joint ventures, and acquisitions in the organs preservation market.
# To benchmark players in the market using the proprietary “Competitive Leadership Mapping” framework, which analyzes market players on various parameters within the broad categories of business strategy and product offering.
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.
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The University of Wisconsin solution segment is expected to account for the largest share of the organsA preservation market, by solution in 2020. Perfadex solution is expected to grow at highest CAGR during the forecast period. This large share of UW solution can be attributed to its prolific usage in the storage of kidney, liver, and pancreas, better transplantation outcomes, less histological damage, and improved physiological function of organs.
Key Developments, Globally:
# In 2021, Paragonix Technologies launched the LIVERguard Donor Liver Preservation System in both the US and Europe. This strategy expanded Paragonixs’ product offerings and strengthened their geographic presence.
# In 2021, XVIVO Perfusion partnered with Contatti Medical (Brazil) to expand its business and gain access to a comprehensive network of transplantation centers in Latin America's largest country, Brazil.
# In 2021, Institut Georges Lopez (Igl) (France) expanded its presence by setting up a manufacturing facility in Cheyyar, Tamil Nadu, India, for manufacturing medical devices and solutions for flushing and preservation of organs.
# In 2021, Transmedics received premarket approval from the FDA for the OCS Heart System to be used with organs from donors after brain death (DBD).
# In 2020, Dr. Franz Köhler Chemie GmbH (Germany) entered into a joint venture with Melchers Group and CICEL (Germany) to establish Köhler Pharmaceuticals (Beijing) Ltd. in China for the distribution of Custodiol HTK solutions for cardiac and transplant surgery in the Chinese market.
Geographical Growth Dynamics:
In the coming years, the organ preservation market is expected to witness the highest growth rate in the Asia-Pacific region owing to the favorable laws for organ donation in China, improved awareness in India, growing number of organ transplantation in Japan and increased organ donation consent by family and relatives in other Asian countries. Intensified public education, initiatives, and advancements in organ transplant technologies have improved the donation rate in China. Improvement in organ donation laws in China, with respect to cultural and societal norms, now provides more options for donations. Such as organ donation after brain death, donation after circulatory death (heart stoppage), and donation after brain death followed by circulatory death.
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