(MENAFN- Straits Research) The global increase in the demand for organs for transplant can be attributed to a rise in the incidence of acute diseases, which also results in an increase in the number of organ failures. For instance, diabetes and high blood pressure are the most common causes of end-stage renal disease, where kidney transplants or dialysis are the only treatment options to keep a patient alive. The growing demand for novel tissue transplantation products and organ transplantation for the treatment of organ failure is a major factor contributing to the growth of the market.
Developed Tissue Banks and Technological Advancements to Boost the Transplantation Market
With an increase in demand for tissue transplantation, the need for tissue bank services such as assessing donor suitability, processing, recovery, storage, labeling, and delivery of tissues has increased considerably. With these developments seen in tissue banks, the storage and retrieval of organs have become relatively easier, thereby propelling the growth of the market.
Advanced technologies have led to an evolution in organ transplantation techniques and procedures, which is expected to propel market growth. Technological advancements in 3D bioprinting are also boosting the adoption of organ transplantation. These techniques are used to create customized prosthetics, fabricate tissue, and support transplantation through synthetic models. Therefore, the introduction of such advanced methods has led to the growth of the transplantation market, driving the number of organ transplant procedures globally.
Artificial Organs and Immunosuppressive Drugs to Provide Lucrative Opportunities for the Transplantation Market
Immunosuppressive medications are widely utilized in transplant processes and are critical in minimizing organ rejection. Hence, the market is predicted to develop steadily. The introduction of ortho-biologics has significantly fueled the sector in recent years, and it is likely to rise fast in the coming years. As a result, immunosuppressive medications offer attractive potential for the transplantation market to expand.
Likewise, the accessibility of numerous artificial organs is fueling market expansion. There are various forms of artificial organs on the market. These implants are categorized into three groups based on their material: mechanical, biomechanical, and biological. Mechanical organs are composed of inert materials like plastic or steel. Life forms and lifeless polymers combine to form biomechanical organs. Biological (bioartificial) organs are disposable and constructed of live cells.
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Impact of COVID-19
The fast spread of coronavirus has plunged the global healthcare industry into disarray. Since a significant proportion of coronavirus patients were hospitalized in medical centers, governing bodies were obliged to reschedule optional and non-urgent operations in hospitals and ambulatory care centers. The pandemic also caused a drop in organ transplant surgery enrolment worldwide.
The decrease in the number of transplantation and organ donation procedures is mainly because of factors such as unavailability of resources, engaged surgeons, lockdown, and travel restrictions. Patients with positive reports for COVID-19 were refrained from donating organs due to the possibility of infection. Furthermore, another major concern influencing transplantation operations was the possibility of immunosuppressant drug interactions with COVID-19 therapy agents, which had led to a significant number of organ failures from graft donors.
Market Recovery Timeline
Markets have experienced massive losses as a result of the pandemic, plunging the world into a financial crisis. The COVID-19 pandemic has resulted in significant changes, and the pandemic's long-term effect is concerning. According to the World Economic Forum, recovering from the COVID-19 problem could take up to three years. Nonetheless, the transplantation business is expected to gain traction following a major decline in coronavirus disease caseloads.
Key Highlights
The global transplantation market size was estimated at USD 12,925.7 million in 2021. It is expected to reach a value of USD 29,734.1 million with a CAGR of 9.55% during the analysis period (2022-2030).
Based on product, the transplantation market is segmented into immunosuppressive drugs, tissue products, and preservation solutions. The tissue products market was valued at USD 7,528.3 million in 2021 and is expected to grow at a CAGR of 9.2% from 2022 to 2030 to reach an estimated value of USD 16,691.2 million by 2030. The tissue products segment held the highest revenue in 2021.
Based on application, the transplantation market is segmented into tissue and organ transplantation. The tissue transplantation market was valued at USD 7,907.3 million in 2021 and is expected to grow at a CAGR of 9.7% to reach an estimated value of USD 18,267.0 million by 2030.
Based on end-user, the transplantation market is segmented into hospitals, transplant centers, and others. The hospital segment was valued at USD 6,481.3 million in 2021 and is expected to grow at a CAGR of 9.1% to reach an estimated value of USD 14,251.9 million by 2030. The hospital segment held the highest market share due to increasing admissions of patients with organ failure.
Regional Insights
North America and Asia-Pacific are the two crucial regions of the transplantation market. In North America, the US loomed over the market owing to a large patient pool, favorable reimbursement policies, and an increase in the number of organ transplantation procedures. A large number of people on the waiting list, coupled with technological advancements in artificial organs, is driving the market. The number of organ donors in the US has increased significantly over the past decade. According to the US Department of Health & Human Services, there has been a 40% increase in the number of organ donors from 2011 to 2019.
The Asia-Pacific region includes growing economies like Japan, China, and India. These countries have a massive population and a high prevalence of chronic diseases. The spike in the number of chronic illnesses that cause organ failure is predicted to drive growth in the transplant market. Due to the inexpensive cost of surgical operations in the area, many patients can visit for health reasons. Therefore, the spike in the number of chronic diseases leading to organ failure and the increase in medical tourism has dramatically helped in the growth of the transplantation market in the region.
Market News
In May 2020, AbbVie, Inc. completed the acquisition of Allergan plc. This transaction expanded and diversified the company's market share and portfolio in different therapeutic areas: Hematologic Oncology, Neuroscience, & Allergan Aesthetics.
Global Transplantation Market: Segmentation
By Product Type
Immunosuppressive drugs
Tissue products
Preservation solutions
By Application
Organ transplantation
Tissue transplantation
By End-User
Hospitals
Transplant Centers
Others
By Regions
North America
Europe
Asia-Pacific
Latin America
The Middle East and Africa
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast Periods
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