Growing population with organ failure is the important factor driving the growth of organ transplant market
According to WHO Global Observatory on Donation and Transplantation in 2014, approximately 119,873 organs were transplanted annually and that was 1.81% observed increase over 2013. Moreover, increase in chronic diseases which are leading to the organ failure, rise in injurious habits such as smoking and drinking further leading to organ disability or failure are the other factors contributing to the growth of organ transplant market. The data given by National Kidney Foundation, U.S in 2016, there are around 121,678 people waiting for an organ transplant, among which 100,791 people are waiting for kidney transplant. The rising population awaiting for organ transplant and increase in mortality rate due to the inadequate organ for transplantation might create opportunities in the organ transplant market. Some other factors owing to the growth of organ transplant market includes refinement and improvement in surgical techniques and treatment strategies that are helping to increase survival rates, and the launch of new anti-infective and immunosuppression techniques contributing to the lower risk of organ rejection after transplantation, and the development of organ preservation and organ procurements. However, the high cost of transplantation, stringent ethical policies, and lack of reimbursement, organ trafficking and low supply of organs are some restraints that are hindering the growth of organ transplant market.
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Kidney transplant holds the maximum share of organ transplant market due to rising renal diseases patients
On the basis of organ type, the organ transplant market is segmented into
Technological advantages and established healthcare sector fueling to the domination of major region in organ transplant market
Regional segmentation of organ transplant market by Coherent Market Insights comprises of North America, Latin America, Europe, Asia Pacific, Africa, and Middle East. North America and Europe region holds the maximum share in the organ transplant market due to the growing success of organ transplant surgeries, technological advancements, and the drug discovery that is important for transplantation. Well established healthcare infrastructure is also contributing to the domination of these regions in the organ transplant market.
Growing awareness about organ donation is expected to help the business players to progress in the organ transplant market
Key industry players operating the organ transplant market includes Organogenesis Incorporated, Terumo Co., OrganOX, Transplant Biomedical, Preservation solution, TransMedic, WorldHeart Co., Waters Medical systems, and Jarvik Heart Incorporated. The industry players of organ transplant market relies on organ donation which further collected, stored, and distributed by them. The increase in awareness about the organ donation is expected to create opportunities for the industry players. Whereas factors such as, proximity to key suppliers, understand the government policies and get access to volunteer labor are important for the business players to sustain in the organ transplant market.
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