Organ Preservation Market Size, Growth Analysis and Cost Structure Till 2027

MRFR recognizes the following companies as the key players in the global Organ Preservation Marke Size — TransMedics Group, Inc (US), Bristol Myers Squibb (US), Artivion, Inc (US), Xvivo Perfusion AB (US), Accord Healthcare Limited (UK), Dr. Franz Köhler Chemie GmbH (Germany), 21st Century Medicine (US), BioLife Solutions, Inc (US), Shanghai Genext Medical Technology Co., Ltd (China), Paragonix Technologies Inc (US), Waters Medical Systems (US).Market HighlightsThe global organ preservation market is expected to have a market value of USD 304.68 million by 2027.Organ preservation is a supply line procedure under which organs donated for transplantation are stored and preserved under appropriate temperatures and environments. This preservation process generally includes flushing the organ with a particular preservation solution dependent on the conditions and storing them on the basis of different techniques as required by the organ. The rising number of organ transplant procedures is driven by the growing adoption of genetic testing. However, the high cost associated with organ transplantation is likely to restrain the market growth. Segment AnalysisThe global organ preservation market is segmented into solution, preservation techniques, end user and region. The solution segment is further segmented into university of wisconsin solution, custodiol HTK, collins solution, celsior solution, perfadex, citrate solution. The preservation techniques segment is further segmented into static cold storage and dynamic cold storage. The dynamic cold storage segment is further sub-segmented into hypothermic machine perfusion, normothermic machine perfusion, and oxygen insufflation. The end user segment is further segmented into hospitals clinics, organ banks, and others.Regional AnalysisGeographically, the Americas dominated the global organ preservation market due to a variety of factors, including the rising number of organ transplant procedures, increasing instances of multiple organ failure, and growth in the geriatric population. North America and Latin America are the two continents that make up the Americas.North America is divided into the US and Canada. The US accounts for the largest market share in the North American organ preservation market. In the US, the increasing prevalence of chronic diseases such as chronic kidney disease, cardiovascular diseases, and the rising number of organ transplant procedures are the drivers for the organ preservation market in the region. According to the Centers for Disease Control and Prevention, in 2021, more than one in seven, that is, 15% of US adults or 37 million people, are estimated to have chronic kidney disease.Europe is the second-largest market and holds a healthy share in the global Organ Preservation Solutions Market. The European market is expected to grow at a sturdy rate during the forecast period due to advanced treatment facilities and rising cases of fatty liver disease. The European region has the best and most established health care systems in the world. With 3.7 doctors per 1,000 inhabitants, Italy has one of the highest ratios in the world, in line with much of Europe. According to WHO, France has the highest-ranking healthcare system in the world. In the country, there are more than 1,000 excellent hospitals, specialist clinics, and treatment centers.Asia-Pacific is estimated to be the fastest-growing market owing to the developing healthcare infrastructure and increasing disposable income in developing countries such as China and India. The rise in the improved healthcare infrastructure promises a high level of research activities in the region. Moreover, several growing economies in the region are taking steps to improve the domestic pharmaceutical market and encouraging global corporations to set up operations in the region, driving the growth of the organ preservation market in Asia-Pacific. For instance, in July 2021, Institut Georges Lopez (France) has established a production plant for organ preservation solutions in Tamil Nadu, India. It will build and run a plant to produce medical devices and solutions for organ cleansing and preservation. With this, the company expanded its position in the Indian market. As a result, such strategies would help drive the overall growth of the market.The Middle East Africa is expected to witness steady growth due to a lack of awareness regarding organ donation, limited access, and the unaffordability of treatment facilities among the population. In addition, the increase in chronic diseases and the rise in the geriatric population in this region indirectly boost the growth of the market. According to WHO, the population of older adults in sub-Saharan Africa is projected to reach 67 million by 2025