Organ Care Products Market by Growth Dynamics and Development Strategies to 2028
The technology replicates body factors like temperature and blood flow in order to keep restored lungs alive for extended periods of time and even increase oxygenation levels.
Powered by remarkable innovation made by industry leaders, the organ care products market is set to record significant growth through 2028. The most recent data from the World Transplant Registry reveals that the number of transplants has been rising considerably. In 2019, the total number of transplants performed worldwide was 146,840. This is a 6% increase from the previous year. These procedures consisted of about 95,479 kidney transplants and 8,311 heart transplants.
Tissue mending, high precision tumor targeting, immunomodulation, and genetic engineering are some widely researched topics in the field, expanding treatment choices in post-transplantation care.
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Global organ care products market size is projected to cross the valuation of over $295 million by 2028, suggests a Global Market Insights, Inc. report
Over the past decade, with technological advancement in the field of medicine, the industry has recorded noteworthy achievements in patient care. Improved organ preservation, robot assisted surgeries, and better pre-transplant treatment, have been redefining the possibilities in modern medicine. Donated organ preconditioning is another emerging subject. The goal of this approach is to increase the donation pool by obtaining high-quality organs from underserved donors.
Mentioned below are the three major factors strengthening organ care products market outlook over 2022-2028:
Breakthrough innovation in lung transplants by industry leaders
Last year, because of time and geographic restrictions, 33 pairs of lungs in Michigan could not be retrieved. With TransMedics innovative organ care system launched in April 2022, doctors have been able to achieve successful transplants between donors and recipients who live thousands of miles away. The technology replicates body factors like temperature and blood flow in order to keep restored lungs alive for extended periods of time and even increase oxygenation levels.
According to thoracic.org, around 2,524 lung transplants were conducted in 2021. The recovered lungs can be used for up to 24 hours using TransMedics. By considerably expanding the recipient pool, they are able to save even more lives. As per a GMI report, the global organ care products market share from the lungs segment is projected to grow with a 16.3% CAGR through 2028.
Kidney transplant: A long wait for patients
There has always been an inherent conflict between a shortage of appropriate organ supply and a high demand for organs. According to donatelife.net, a worrying 85% of patients require a kidney transplant. Because of a scarcity of healthy, donated organs, most patients must wait more than ten years for a kidney.
To bridge the existing demand and supply gap, various transplant programs are being launched by companies to boost organ supply and get their patients transplanted and off dialysis. So far, the most extensive global experience has been with the use of donated kidneys following neurological death determination. Scientists are now also considering the possibility of creating organoids and tissues from stem cells.
These opportunities are being investigated and will most likely be carried out in the future after the long-term effects have been determined. Industry leaders such as TransMedics Inc., XVIVO, Organ Recovery system, Paragonix technologies, and IGL are working to satisfy growing demands via strategic partnerships, mergers, and acquisitions.
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Promoting organ donations to meet rising patient demands
As per statistics from organdonor.gov, there are presently over 106,000 persons on the national transplant waiting list. A new person is added to the transplant waiting list every 9 minutes. Every donation has the potential to save 8 lives and improve the lives of nearly 75 others. In order to boost organ donation rates, the U.S. Health Resources & Services Administration launched ’Hospital Campaign’, an initiative promoting organ, tissue, and eye donation throughout the nation.
Between October 2020 and May 2021, 1,659 hospitals assisted in the addition of 27,389 donor registrations through active participation the campaign. Thanks to the unprecedented challenges faced by hospitals and other care providers, a large number of healthcare entities showed commendable interest in the campaign. 1,659 small and major hospitals collaborated with donation groups to encourage organ, eye, and tissue donation, resulting in 27,389 new donors.
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