(MENAFN- P&S Intelligence) In 2021, the transplantation market was worth around USD 13,605.9 million, and it is projected to advance at a 9.2% CAGR from 2022 to 2030, hitting USD 30,117.5 million by 2030, according to P&S Intelligence.
This growth can be credited to the growing occurrence of chronic illnesses, including myelodysplastic disorders, kidney failure, syndromes of the immune system, plasma cell disorders, and solid tumors.
Furthermore, the increasing knowledge regarding donating organs, coupled with technological enhancements, including robot-supported kidney transplants, and an overall enhancement in organ transportation success rates are contributing to the growth of the market.
In 2021, Tissue products for transplantation held the largest market share, and the same category is projected to continue to dominate in the future as well mainly due to the growing utilization of orthobiologics in orthopedic measures for tissue curing, pain reduction, and normal working restoration, along with the increasing elderly populace throughout the world. Furthermore, startup businesses in this field are getting investments to enlarge their business.
In 2021, tissue transplantation had a larger market share, of above 60%, and is projected to attain significant development, in the future. The development in tissue transplantation doings is mainly credited to the growing transplantation of the blood vessels, corneas, skin, heart valves, tendons, bones, and tendons.
Between these, skin grafting is the utmost popular tissue transplantation technique, because of the raise in the count of burns, along with the escalation in the occurrence of road accidents and skin cancer.
In 2021, Hospitals generated approximately 50% of the revenue, since tissue transplants are done in hospitals only. Furthermore, the advancing healthcare infrastructure, along with the presence of a well-organized record of donors and patients requiring transplants, is boosting the revenue generation from the healthcare center.
In 2021, the North American transplantation market share was around 40%, the U.S. is dominating the regional market, as it has a huge patient base for organ transplantation, particularly for the pancreas, kidneys, intestines, liver, lungs, and heart.
Furthermore, R&D in the field has been offering a lift to the success rate of these events. For example, in February 2022, Carnegie Mellon University's Department of Biomedical Engineering and Mayo Clinic engaged in a 3-year research contract to bioengineer advanced methods to address the existing blockades in organ transplantation.
The APAC region, which is dominated by India, China, and Japan is the third-largest market, and it is projected to be the fastest-rising in the future, because of growth in medical tourism events and a surge in the occurrence of chronic diseases.
Hence, the growing occurrence of chronic illnesses, including myelodysplastic disorders, kidney failure, syndromes of the immune system, plasma cell disorders, and solid tumors, are the major factors boosting the transplantation industry.
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