Yasmine S Naga
The global transplantation market size was estimated at USD 12.8 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2020 to 2027. Growing demand for novel tissue transplantation products and organ transplantation for the treatment of organ failure is a major factor contributing to market growth. Organ failure usually occurs due to various factors, such as serious trauma, loss of blood, poisoning, drug abuse, leukemia, sepsis, and other acute diseases. Demand for tissue and organ transplantation, mainly, kidney, heart, liver, and lungs, is very high. Unhealthy dietary habits, alcohol consumption, lack of exercise, and drug abuse are some of the leading causes of organ failure. Thus, demand for transplantation products is expected to rise in the near future. Rising incidences of acute diseases have also resulted in increased cases of organ failures. For instance, diabetes and high blood pressure are the most common causes of end-stage renal disease, where kidney transplant or dialysis are the only treatment options to keep a patient alive. According to the U.S. Department of Health & Human Services, in 2019, there were around 122,913 patients in U.S. with the requirement of organ transplants. Thus, the high demand for advanced transplantation products will drive market growth. In addition, the introduction of technologically advanced products and an increasing number of tissue banks are likely to boost the market growth. However, lack of awareness regarding organ donation and religious & customary beliefs prevents a large number of people from donation. Thus, the shortage of organs for the treatment of organ failure is expected to adversely affect market growth. There is a huge gap between demand and supply of organs for organ failure treatment. According to the U.S. Department of Health & Human Services, in 2019, there were around 43,201 patients with kidney transplant requirements in U.S.; however, only 23,401 kidney transplant procedures were performed. The preservation solutions segment is expected to exhibit significant growth during the study period due to rising government support for stem cell research and wide application scope for these products to improve the physiological function of organs. In addition, an increasing number of organ donations and organ transplant procedures are expected to drive the segment growth.
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