Organ transplantation is the surgical operation carried out for replacement of damaged or not functional organ of an individual. Donated organ are obtained from living donor, deceased donor or from an animal. Whereas in some cases an artificial organ is used for the transplantation procedure. The most common organ transplant includes kidney, heart, liver, pancreas, lung, and intestine. Double organ transplantation is also possible such as kidney and pancreas transplant and heart and lungs transplant.
Increasing number of population suffering from organ failure is driving the growth of organ transplant market
According to World Health Organization (WHO) Global Observatory on Donation and Transplantation in 2014, an estimated 119,873 organs were transplanted annually. Moreover, increasing number of chronic diseases leading to organ failure and habits such as smoking and drinking are further leading to organ disability, which is fueling growth of organ transplant market. According to the data published by National Kidney Foundation, U.S in 2016, around 121,678 people were waiting for an organ transplant, among which 100,791 people were waiting for kidney transplant. Increasing number of 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.
Furthermore, refinement and improvement in surgical techniques and treatment strategies that are helping to increase survival rate, 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 are some of the factors fueling growth of the market. However, high cost of transplantation, stringent ethical policies, lack of reimbursement, organ trafficking, and low supply of organs are some of the factors restraining growth of the organ transplant market.
Organ Transplant Market Taxonomy
On the basis of organ type, the organ transplant market is segmented into:
Technological advancements in transplantation procedures and established healthcare sector is fueling growth of organ transplant market
Regional segmentation of organ transplant market by Coherent Market Insights comprises 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, owing to success of organ transplant surgeries and technological advancements in medical surgeries and drugs involved in transplantation. Well established healthcare infrastructure is also contributing to growth of market in this region.
Increasing awareness regarding organ donation is expected to fuel growth of organ transplant market over the forecast period
Market players rely on organ donation, which is collected, stored, and distributed by them. Increasing awareness regarding organ donation is expected to create opportunities for the industry players. However, factors such as proximity to key suppliers, understand the government policies, and get access to volunteer labor are important factors for market players to maintain leading position in organ transplant market.
Key players operating in organ transplant market include Organogenesis Incorporated, Terumo Co., OrganOX, Transplant Biomedical, Preservation solution, TransMedic, WorldHeart Co., Waters Medical systems, and Jarvik Heart Incorporated.
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