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(Medical-NewsWire.com, January 09, 2020 ) The Organ Preservation Market is expected to reach USD 241.2 Million by 2021 from USD 165.9 Million in 2016 at a CAGR of 7.8% during the forecast period.
The growth of the overall market can be contributed to rising multi-organ failure cases in aging population, technological advancements, increasing government initiatives to promote organ donation and rising number of solid-organ transplant procedures.
In the coming years, the market is expected to witness the highest growth rate in the Asia-Pacific region. North America is expected to account for the largest share of the global market. However, high cost of transplantation is likely to restrain the growth of the market during the forecast period.
The global organ preservation market is segmented on the basis of preservation solutions, transportation techniques, organ type and region.
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Based on preservation solutions, the market is segmented into university of wisconsin solution, custodiol HTK, perfadex and others (celsior & euro-collins). In 2016, the university of wisconsin solution segment is estimated to account for the major share of the organ preservation market. This large share can be attributed to its prolific usage in the storage of kidney, liver, and pancreas, better transplantation outcomes, less histological damage, and improved physiological function of organs.
Based on transportation technique, the market is segmented into static cold storage, hypothermic machine perfusion and normothermic machine perfusion. In 2016, the static cold storage segment is estimated to account for the major share of the organ preservation market. The largest share of static cold storage can be attributed to the simplicity, low cost, and less requirement of equipment and trained personnel
Based on organ type, the market is segmented into kidneys, liver, lung, heart and others (pancreas & intestine). In 2016, the kidneys segment is estimated to account for the major share of the organ preservation market. The growth of this segment can be attributed to factors such as rising cases of kidney failure, improvements in graft survival, and long-term graft function.
On the basis of region, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2016, North America is expected to account for the largest share of the organ preservation market. Its large share can be attributed to growing cases of kidney failure, rising organ transplants, favorable reimbursements scenario within some provinces in Canada, and novel technological advancements by U.S. players.
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However, the Asia-Pacific market is slated to grow at the highest CAGR during the forecast period due to the new regulatory framework in China, and increasing organ donations in Asia-Pacific and serve as a revenue pocket for companies offering organ preservation solutions and transport systems
The major players in organ preservation market includeOrgan Recovery Systems (U.S.), Xvivo Perfusion AB (Sweden), Essential Pharmaceuticals LLC (U.S.), Dr. Franz Kohler Chemie GmbH (Germany), and Waters Medical Systems LLC (U.S.), among others.
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