The Asia Pacific Organ Preservation Market size was valued at USD 44.56 million in 2022 and is expected to grow at a CAGR of 6.5% and worth USD 61.05 million by 2027.
The number of cases of organ failure caused by various health conditions, such as severe diabetes, is increasing rapidly around the world. This has resulted in a sharp increase in the number of organ transplants. As a result, the demand for organ preservation has also increased worldwide. Despite a large gap between organ supply and demand, there are many programs being implemented to promote organ donation in order to meet the growing demand for organ transplants, which will likely contribute to the growth of the APAC organ preservation market during the forecast period.
Due to various advancements in the field of organ transplantation and preservation, the APAC organ preservation market is estimated to grow during the forecast period with a healthy CAGR. Advances in conservation technologies and techniques have also increased the accessibility of organs in remote areas. In addition, with the technological advances in the medical field, the success rates of organ transplants are increasing, so that more and more people are opting for such a transplant.
Organ transplant surgery is one of the most expensive in the healthcare. This is because the number of donations is far less than the demand for organ transplants, which creates a huge demand and supply gap. Due to this gap, obtaining an organ is a difficult task, which results in a hike in the prices of organs in black market sales. The sharp decline in organ donations also exacerbates the dearth of transplantable organs and the need for organ transplants. Furthermore, transplant surgeries are very expensive, which is a major hindrance to the growth of the organ preservation market.
Technological advancements such as use of Artificial intelligence and robots are providing better opportunities for the market growth.
The Covid-19 pandemic has had a significant detrimental impact on the APAC organ preservation market. As the number of Covid-19 cases have increased, all non-essential and elective surgical procedures are immediately postponed. As a result, the need for organ preservation has reduced. These surgeries also involves the utilization of ICUs and medical ventilators, which were prioritized for use for Covid-19 critical treatment cases. Furthermore, allowing organ transplant procedures in the presence of highly communicable virus is not advised. Therefore, the most surgeries were postponed, this resulted in the decrease in the demand for organ preservation.
This research report on the Asia Pacific Organ Preservation Market has been segmented and sub-segmented into the following categories:
By Preservation Solution:
By Transportation Technique:
By Organ Type:
The fastest growth in APAC market is attributed to the rising population, improved the standard of living, increasing healthcare spending and demand for new and innovative treatment options.
China has an increasing geriatric population with organ failure cases, favorable reimbursement policies, and increasing burden of diabetes, cardiovascular disorder, diabetic nephropathy, and obesity would positively impact market growth in the coming years.
Japan is highly advanced in the practice of organ preservation. Thus, it holds the considerable share in the APAC organ preservation market. For instance, by the end of 2016, there were 32 facilities, performing transplants, which successful track record of kidney transplantation. Pacific regions will also have healthy growth rate due to awareness and advanced healthcare facilities in upcoming years.
KEY MARKET PLAYERS:
Some notable companies operating in the Asia Pacific Organ Preservation Market profiled in the report are Essential Pharmaceuticals, Dr. Franz Kohler Chemie GmbH, Organ Recovery Systems, Xvivo Perfusion AB, and Waters Medical Systems LLC.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: firstname.lastname@example.org