Rising Prevalence Of Organ Failure And Increasing Awareness About Organ Transplantation Procedures Is Boosting The Growth Of The Organ Care Market
Organ Care Market Forecast and CAGR
According to the latest research by Fact MR, Organ Care Market is set to witness steady growth during 2021-2031. Demand for the market will witness a steady recovery in the short-term, with an optimistic growth outlook in the long run. The growing adoption of a sedentary lifestyle, rising prevalence of chronic diseases such as cardiovascular disorders, lung failure or kidney failure, etc. is augmenting the demand for organ care products. However, the high cost of treatment via organ care system, coupled with the lengthened period required for approval of novel organ care products can restrain the growth of the organ care system market.
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What is Driving Demand for Radiation Shielding?
As per the WHO estimates, the geriatric population will rise to 2 billion by the end of 2050, geriatric population is increasing at a higher rate across the globe especially in the countries like U.S., UK, and Japan. The growing geriatric population, Unhealthy lifestyle among the huge population, addiction to unhealthy habits such as smoking, and the absence of physical activities are the major factors that drive the organ care market.
Technological Advancements and their impact on the Organ Care Market
There is a global adoption of upgraded technology in varied fields and then it has also appropriated the use of upgraded technologies in organ care systems. This has resulted in the growth of the organ care market.
Through technological advancements and upgrades, there is an increased rise in organ transplantation procedures with more efficiency and efficacy. This Innovations assist patients in faster recovery and provide clinicians full control over transplant procedures. Such advanced features of organ care products help clinicians to make timely decisions with real-time data, hence, boosting the growth of the overall market.
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The US and Canada Organ Care Market Outlook
The rising prevalence of organ failure and increasing awareness about organ transplantation procedures is boosting the growth of the market in North America. A considerable increase in the organ donors in the last decade has supplemented the market growth in the U.S. As per the Department of Health & Human Services of the U.S., organ donors have increased up to a 40% from 2011 to 2019. In addition, the implementation of substantial policies for allowing transplantation in beneficiaries older than 65 and increasing improvements in the post-transplant are the key factors augmenting the growth of the organ care market. In the U.S., the age of liver transplant receivers increasing constantly. For example, liver transplant receiver’s age 65 or more raised from 9% in 2002 to 20% in 2017, in the U.S. Thus, a growing number of organ donors will create demand for organ care markets.
Europe Demand Outlook for Organ Care Systems
Growing cases of liver failure in Europe due to increasing heavy alcohol consumption, rising prevalence of obesity, and metabolic syndrome are some of the major factors which can upsurge the growth of the organ care system for the liver. As per the European Association for the Study of Liver, Cirrhosis is the 11th most common cause of death across the globe and liver cancer is the 16th leading cause of death. According to WHO, liver cirrhosis accounts for 1.8% of all deaths in Europe. In addition, increasing Collaboration programs between and health care and transplantation centres together with a continuous increase in donation after circulatory death (DCD) can propel the organ care market in Europe.
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Who are the Key Manufacturers and Suppliers of the Organ Care market?
Some of the leading manufacturers and suppliers of organ care devices include
- OrganOx Limited
- Organ Assist B.V.
- XVIVO Perfusion AB
- TransMedics Inc.
- Paragonix Technologies Inc.
- Preservation Solution Inc
- Water Medical System LLC
- Organ Recovery Systems Inc.
- Bridge to Life Ltd.
- Organ Transport System Inc.
Leading players are introducing numerous footsteps to strengthen their presence such as new product development and merger & acquisitions. For instance, in January 2019, the national institute for Health and care excellence of the UK’s approved OrganOx’s liver perfusion machine.
By Organ Type
- Trolley Based
- Ambulatory Surgical Centers
- Specialized Clinics
- North America
- Latin America
- The U.K.
- Rest of Europe
- South Asia
- Rest of South Asia
- East Asia
- South Korea
- New Zealand
- The Middle East and Africa
- GCC Countries
- South Africa
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