Organ Preservation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Organ Preservation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Organ Preservation Market is poised to grow at a CAGR of 6.3% over the forecast period.

The coronavirus infection has had an impact on all aspects of healthcare, including the execution of life-saving treatments such as organ transplantation, by affecting the process of organ donation and recovery. The emergence of COVID-19 has had a significant influence on organ donation and transplantation around the world. It has interrupted these actions and drastically curtailed donation and transplant activities around the world, resulting in a drop in demand for organ preservation products. According to the study published in the Israel Journal of Health Policy Research in January 2022, titled "Organ donation in the time of COVID-19: the Israeli experience one year into the pandemic ethical and policy implications" when compared to pre-pandemic figures, the number of organs retrieved per donor decreased during the pandemic (from 3.8/donor to 3.4/donor ). The overall number of transplant procedures has been lowered by 24.2%. Living kidney donation, which had previously been halted, was reinstated in May 2020, but related-living donations decreased. Thus, during COVID-19 organ donation has declined, and expected to presume the organ donation and organ transplantation procedures in the coming year.

Certain factors that are driving the market growth include rising cases of multiple organ failure in the aging population, technological advancements, and increasing government and NGO initiatives to encourage organ donation.

Organ disease is a massive public health issue, and organ transplantation can be a lifesaving treatment option. When people have chronic kidney disease (CKD), their kidneys get damaged and may not clean the blood as well as healthy kidneys do over time. For instance, in 2020, as per data released on World Kidney Day, a joint initiative of the International Society of Nephrology (ISN) and the International Federation of Kidney Foundations (IFKF), kidney disease affected around 850 million people globally. As per estimates, one in ten adults has chronic kidney disease (CKD). The global burden of CKD is continuously increasing and is projected to become the 5th most common cause of years of life lost globally by 2040. Thus, an increase in organ diseases may contribute to organ failure, resulting in the necessity for transplantation and, as a result, an increase in the demand for organ preservation.

Additionally, various initiatives are taken by the government to promote organ donation further expanding the market growth. For instance, in July 2022, The Indian government established the National Organ Transplant Programme (NOTP) to promote organ donation and transplantation throughout the country. Financial assistance is provided under the program for the establishment of State Organ and Tissue Transplant Organizations (SOTTOs) in each state/UT. Similarly, in September 2021, Shenna Bellows, Secretary of State, joined organ donor recipients and supporters in launching a state-wide Maine Organ Donation Campaign. Banners and window clings are being placed in BMV offices to educate the public and encourage donors to register.

Thus, all the above-mentioned factors are expected to boost market growth over the forecast period. However, the high cost of organ transplantation may restrain the market growth over the forecast period.

Key Market TrendsLiver Segment holds significant share of the Global Organ Preservation Market

A liver transplant also referred to as a hepatic transplant can help save one’s life when the liver no longer works. A doctor may advise a liver transplant for a person with end-stage liver disease. the segment is driven by the growing prevalence of liver diseases and increased liver transplants as well as various products launched by the key market players.

According to the 2020 updates from the Global Observatory on Donation and Transplantation, in 2020, around 129,681 total organ transplants were done worldwide, with 20.40% of recipients having received a liver transplant. Thus, an increase in the number of liver transplants is expected to boost segment growth over the forecast period.

The technological advancement and increase in product launches are expected to propel the growth of the market. For instance, in November 2021, Paragonix Technologies, a manufacturer of donor organ preservation and transport systems, introduced the LIVERguard Donor Liver Preservation System in both the United States and Europe. Similarly, in September 2021, TransMedics Group, Inc., a medical technology company that is transforming organ transplant therapy for patients with an end-stage lung, heart, and liver failure, announced that the U.S. Food and Drug Administration (FDA) has granted premarket approval (PMA) of its OCS Liver System for use with organs from donors who died after brain death (DBD) and after circulatory death (DCD) (DCD). Thus, all aforementioned factors are expected to boost segment growth over the forecast period.

North America Dominates the Global Organ Preservation Market

The rising demand for organ transplantation and product launches by the key market players is propelling market growth across the entire region. As per the data published by the Health Resources and Services Administration in March 2022, about 40,000 organ transplants were performed in the United States in 2021. In addition, 26,670 kidney transplants and 9,236 live transplants were performed in 2021 in the United States. Moreover, according to updates in June 2022, by Canadian, in 2021, a total of 2,782 organ transplants were done in Canada. In 78% of transplants, deceased donor organs were used, while 21% used living donor organs. Institutes of Health Information Canadian, The rising demand for organ transplantation is expected to increase the demand for reliable organ preservation systems.

According to the study titled "The Impact of COVID-19 on Organ Donation, Procurement, and Liver Transplantation in the United States" published in the Hepatology Communication in September 2020, organ recovery and living donation have declined significantly, and liver transplantation plummeted by more than 25% countrywide between February and April 2020. Thus, the decline in organ donation during COVID-19 in the United States severely impacted the market growth

Moreover, various initiatives launched by the NGOs in the United States that encourage organ donation further expand the market growth over the forecast period. For instance, in October 2021, Donate Life Kentucky launched a new awareness campaign, "Be The One," to raise awareness about organ donation and transplantation among Black communities around the state.

All these factors create a favorable scenario for organ donation and organ transplants across the region, eventually fuelling the market growth.

Competitive Landscape

The global organ preservation market is competitive and consists of a few major players. Companies like 21st Century Medicine Inc., Essential Pharmaceuticals LLC, Organ Recovery Systems, Inc., Organox Limited, Paragonix Technologies, Inc., Preservation Solutions, Inc., Transmedics, Inc., Waters Medical Systems LLC, Xvivo Perfusion AB, among others, hold the substantial market share in the market.

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