ORGAN PRESERVATION SOLUTIONS MARKET ANALYSIS

Organs are vulnerable to environment outside the human body; hence, they are kept in preservation solutions that have a composition similar to that of human body fluids. These solutions are known as organ preservation solutions and are typically composed of ions, proteins and buffer solutions that help maintain a sustainable environment for organs.

The global organ preservation solutions market is estimated to account for US$ 238.7 Mn in terms of value in 2020 and is expected to reach US$ 695.0 Mn by the end of 2027.

Global Organ Preservation Solutions Market: Drivers

High number of organ transplant is expected to propel growth of the global organ preservation solutions market over the forecast period. For instance, according to the Organ Procurement and Transplantation Network (OPTN)/ The Scientific Registry of Transplant Recipients (SRTR), in 2015, 2016, and 2019, the U.S. recorded over 30,000 transplants per year.

Moreover, increasing incidences of chronic diseases is also expected to propel growth of the global organ preservation solutions market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

Custodiol HTK held dominant position in the global organ preservation solutions market in 2019, accounting for 51.1% share in terms of value, followed by Viaspan and Perfadex, respectively.

Figure 1. Global Organ Preservation Solutions Market Share (%), by Value, by Solution, 2019

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Global Organ Preservation Solutions Market: Restraints 

Advent of stem cells is expected to hinder growth of the global organ preservation solutions market. The need for organ transplantation could eventually be reduced by stem cell therapies. Scientists hope to repair/replace damaged organs with new cells grown from adult or embryonic stem cells. Therefore, increasing adoption of stem cell therapies could act as a restraint of the growth of the global organ preservation solutions market in the near future.

Moreover, high cost of procedure is also expected to limit growth of the global organ preservation solutions market. The cost of a kidney transplant procedure in the U.S. is around US$ 89,939. This is followed by medications for several years that cost around US$ 16,043 per year.

Global Organ Preservation Solutions Market: Opportunities

Increasing geriatric population is expected to offer lucrative growth opportunities for players in the global organ preservation market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.         

Moreover, favorable reimbursement scenario is also expected to aid in growth of the global organ preservation market. Currently, almost every transplant procedure is covered under an insurance plan either via Medicare (government insurance) or private insurance players in countries such as the U.S., India, Japan and the U.K.

The global organ preservation solutions market was valued at US$ 204.9 Mn in 2019 and is forecast to reach a value of US$ 695.0 Mn by 2027 at a CAGR of 16.5% between 2020 and 2027.

Figure 2. Global Organ Preservation Solutions Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

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Market Trends/Key Takeaways

The emergence of Covid-19 is expected to have significant impact on heart and lung transplant. For instance, in August 2020, researchers from University Hospital of Siena, Italy, reported that a higher percentage of lung transplant subjected that Covid-19 could have a negative impact on the outcome of their graft. Moreover, 28% of the patients declared that they were afraid to come to the hospital for routine examinations and asked to postpone.

Increasing funding for development and launch of new solutions is expected to propel growth of the global organ preservation solutions market over the forecast period. For instance, in January 2020, UK and Ireland-focused SME investor BGF provided US$ 6.05 million to OrganOxm, a medtech developer, as the company looks to fund commercial expansion of its Metra unit, a fully-automated system for keeping a human donor liver functioning for up to 24 hours outside the body.

Global Organ Preservation Solutions Market: Competitive Landscape

Major players operating in the global organ preservation market include, Teva Pharmaceutical Industries Ltd., Dr. Franz Köhler Chemie GmbH, BioLife Solutions, XVIVO Perfusion AB, Bristol-Myers Squibb, Inc., and ToleroTech, Inc., Lifeline Scientific, Preservation Solutions Inc., Claris Injectables Limited, 21st Century Medicine, Paragonix Technologies Inc., BioTime, Inc. CryoLife, Inc., and Dr. Franz Köhler Chemie GmbH.

Global Organ Preservation Solutions Market: Key Developments

Major players in the market are focused on approval and launch of new devices to expand their product portfolio. For instance, in February 2020, Paragonix Technologies Inc. received a Pre-Marketing Notification (510(k)) clearance from the US Food and Drug Administration (FDA) for its Donor Lung Preservation System – LUNGguard.