Organ Transplantation Market Overview:
Organ transplant is a surgical process in which an organ is removed from one body and grafted into another body. Organ transplant is the only treatment option in case of end-stage organ failure. The global organ transplantation market is set to capture a CAGR of 9.8% over the forecast period 2017-2023, reveals a study by Market Research Future (MRFR).
The number of Organ Transplant Market worldwide has increased slowly over the recent years. Rising prevalence of chronic diseases and organ failures are the primary drivers of the market. Increase in diseases such as diabetes and high blood pressure, which results in renal diseases, unhealthy diet and over-consumption of alcohol has provided an impetus to the growth of the market. Additionally, technological advancements which have made surgeries minimally-invasive, safer and reduced cost of organ transplants has spurred the market for organ transplant. The rise in the geriatric population, rise in organ donation due to growing organ donation awareness, the high success rate of transplantation, increasing aid from private and government authorities, improving healthcare infrastructure, and wide adoption of organ transplant propel the market for organ transplantation. Extensive R&D in the field of organ transplantation and rise in transplant tourism has further fueled the growth of the market.
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On the flip side, scarcity of donors, ethical concerns in organ transplants, lack of trained healthcare experts, the high cost of treatment, and increasing incidences of organ failure is likely to hamper the growth of the market. Histocompatibility is a principal barrier for organ transplantation where tissue compatibility between the donor and recipient determines the possibility of organ transplant. Shortage of organs is a significant restraint to the market. Religious and social beliefs and lack of awareness regarding organ donation has impeded the market growth significantly. Furthermore, the emergence of stem cells therapies as an alternative to organ transplantation might restrict the growth of the market.
Shortage characterizes the global organ transplantation market; the market is monopolistic and competitive; entry into the market is strictly prohibited by law. The eminent players operating in the market include Novartis International AG (Switzerland), Transonic (US), Astellas Pharma, Inc (Japan), OrganOX Limited (UK), Transplant Biomedical (UK), Accord Healthcare GmbH (Spain), Pfizer, Inc. (US), GlaxoSmithKline Plc. (UK), Terumo Medical Corporation (US), F. Hoffmann-La Roche Ltd. (Switzerland), Preservation Solutions, Inc. (US), Bio Med Pvt. Ltd. (US), TransMedic, Inc. (US), Sanofi (France), and Veloxis Pharmaceuticals A/S (Denmark).
The global organ transplantation market has been segmented based on type of organ, products, type of transplant, treatment, and end-users. By type of organ, the market has been segmented into heart, kidney, liver, lungs and other. By products, the market has been segmented into organ preservation solution, transplant diagnostics, tissue products and others. By type of transplant, the market has been segmented into autograft, allograft and allotransplantation, xenograft and xenotransplantation and others. By treatment, the market has been segmented into analgesic, immunosuppressant and others. The immunosuppressant sub-segment has been further divided into calcineurin inhibitor, antiproliferative agents, steroids and others. Calcineurin Inhibitors has been further segmented into tacrolimus and cyclosporine. mTOR inhibitors has been further segmented into sirolimus and everolimus. By end-users, the market has been segmented into hospitals, transplant centers, and others.
The key markets of the global organ transplantation market include America, Europe, Asia Pacific and Middle East & Africa. America is dominating the organ transplantation market owing to the prevalence of chronic diseases, rise in geriatric population, wide adoption of organ transplant and robust healthcare infrastructure in the region. Europe is the second largest market for organ transplantation, followed by Asia-Pacific. Increasing investment in R&D, the emergence of many new research organizations and developed healthcare facilities has propelled the market in Europe. Asia-Pacific is emerging as a key principal market for organ transplantation due to rapid development in the healthcare sector, and presence of large disease population pool in the region. Poor economic conditions has restricted the market growth in Middle East & Africa.
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