The Latin America organ preservation market size was valued at USD 13.37 million in 2022 and is estimated to grow at a CAGR of 6.5%, reaching USD 18.31 million by 2027.
The growing number of organ donors, multiple organ failure cases, and increasing organ transplantation procedures are primarily driving the organ preservation market in Latin America. Lifestyle change is the major reason for organ failures like kidney, liver, and heart failure. In recent years due to busy schedules, most people are increasing their consumption of alcohol and smoking and reducing workouts which leads to several issues in the body. Along with this, due to less time for cooking, people are addicted to junk foods and packaged foods which disturb the digestive system and lead to several chronic diseases. As a result, these organ failure patients opt for organ transplantation to extend their life. Organ transplantation requires an organ preservation procedure to save the organ from spoiling or poisoning until surgery.
The rising adoption of technological advancements in organ preservation is anticipated to drive market growth in Latin America. The key market players and researchers are increasing their research on developing new procedures to preserve the organ for a few hours until the transplantation is done. Additionally, the growing investments by the Latin American governments and the key market participants in favor of organ preservation are predicted to fuel the growth of the Latin American market.
Furthermore, owing to the availability of advanced treatment facilities and increasing healthcare spending, and rising cases of alcoholic fatty liver disease which can lead even further to liver failure, the Latin American organ preservation market is expected to showcase a healthy CAGR. In addition, various government legislative reforms providing regulatory guidance to manufacturing companies and the burgeoning medical device market are attributed to the presence of key pharmaceutical companies in this region, ultimately boosting the market. In addition, the increasing prevalence of cardiovascular disorders and renal disorders, as well as the increase in the elderly population, which would ultimately increase the population of patients with organ failure, will complement the growth of the organ preservation market. Additionally, factors such as government and NGO initiatives to encourage organ donation and the availability of skilled personnel are likely to drive market growth.
The high costs associated with organ preservation in Latin American are one of the major factors hampering the regional market growth. Organ preservation is necessary for organ transplantation procedures that need high investment to undergo the procedure, such as injecting the donor organ during the transportation period to the surgery center. Additionally, the lack of proper investments and education regarding organ preservation is another key factor hindering regional market growth. Furthermore, changes in the supply of organ donation and the organ required for transplantation also challenge the organ preservation process in the region. In addition, the lack of availability of the right donor and organ development through stem cell therapy are likely to hold back the market's growth. Therefore, the results were disappointing, and the program for the transplantation of solid organs, except for the kidneys, was generally suspended.
This research report on the Latin American organ preservation market has been segmented and sub-segmented into the following categories.
By Preservation Solution:
By Transportation Technique:
By Organ Type:
Latin America accounted for a moderate share of the worldwide market in 2021 and is expected to grow at a steady CAGR during the forecast period owing to the growing awareness about organ preservation and donation and increased advanced infrastructure in hospitals for transplantation procedures. As a result, the number of patients needing liver transplantation has increased in Latin America.
Argentina and Brazil hold the maximum share of the market growth in the Latin America region. Brazil is second in conducting transplantation procedures, which demands market growth. As per the recent survey in the year 2021, nearly twenty-three thousand people have undergone the transplantation procedure. Among them, 5 thousand are kidneys, 2 thousand are liver, 330 are heart, etc. In 2022, Brazil's Ministry of Health launched a campaign on organ donation and tissue donation for transplantation procedures. The campaign aims to encourage the members to donate organs after death, which helps to give life to another person. They also discuss donating with family members and relatives to increase the number of donations. Brazil's government also spreads awareness through TV, outdoor media, social network, web portals, and radio.
The presence of many transplantation procedure centers in Argentina helps develop organ preservation facilities, which helps the market grow. Recently, a rule has been passed in Argentina that every citizen of Argentina over 18 years needs to be registered as an organ donor.
Chile also holds the share due to increasing advancement in providing the best treatment for organ procedures. In addition, Chile's government has taken several measures for the supply of organs, both from living and post-mortem donors.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the Latin America organ preservation market profiled in the report are Essential Pharmaceuticals (U.S.), Dr. Franz Kohler Chemie GmbH (Germany), Organ Recovery Systems (U.S.), Xvivo Perfusion AB (Sweden), and Waters Medical Systems LLC (U.S.).
The Latin American organ preservation market was valued at USD 13.37 million in 2022,
OrganOx, XVIVO Perfusion, TransMedics, Inc., Paragonix Technologies, Inc., and Bridge to Life Ltd are some of the prominent companies in the Latin Amerian organ preservation market.
The growing demand for organ transplantation, the rising prevalence of chronic diseases, and the growing awareness about the benefits of organ preservation are some of the factors driving the Latin American organ preservation market.
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