Global Tissue and Organ Transplantation Market to Surpass US$ 25.6 Billion by 2027, At a CAGR of 9.1% | Coherent Market Insights
SEATTLE, May 04, 2021, (PHARMIWEB) —
Increasing incidences of chronic disease such as renal diseases, cancer, diabetes, and cardiovascular diseases is expected to propel the market growth over the forecast period. In 2019, the Centers for Disease Control and Prevention (CDC) revealed that around 37 million people or 15% of adult population is suffering from chronic kidney diseases in the U.S.
As per the estimation from World Health Organization (WHO), around 17.9 million people die every year due to cardiovascular diseases globally.
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Impact of Coronavirus (Covid-19) Epidemic
The SARS-CoV-2 virus has spread across China and the entire world since December 2019 with recorded cases exponentially increased within a short period of time. Furthermore, the impact and effect of COVID-19 disease has fluctuated largely around the globe. The impact of the pandemic was largely negative for the organ donation and transplantation in nations which have witnesses the high infection rates including the nations such as France, the U.S., and the U.K., all have experienced a decline of 50% in the transplant operations.
The ill patients who were seeking an organ transplant have been impacted badly by the coronavirus disease. As a measure to avoid the transmission of COVID-19 virus, the organ transplantation program was halted temporarily over the lockdown period.
Following the COVID-19 pandemic, the patients suffering from final-stage diseases of liver, lung failure, heart, and kidney are getting panic. However, the patients with kidney failure are likely to experience improvement in their health conditions with continued dialysis but they are also more likely to contract the COVID-19 virus.
Owing to rising incidences of diseases such as renal diseases, cancer, diabetes, Alzheimer’s disease, and cardiovascular diseases, the global tissue and organ transplantation market is expected to experience a CAGR of 9.1% over the forecast period (2020-2027).
Key players contributing in the global tissue and organ transplantation market are Teva Pharmaceuticals, Veloxis Pharmaceutical, CryoLife, Inc., Stryker Corporation, BiolifeSolutions, Inc., Folio Biosciences, Arthrex, Abbvie, Inc., Zimmer Biomet, Medtronic PLC, and Novartis AG.
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By Product Type:
- Tissue Products
- Preservation Solution
- Immunosuppressive Drugs
- Organ Transplantation
- Tissue Transplantation
By End User:
- Transplant Centers
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