Global Transplantation Market is Projected to Grow at a CAGR of 8.4 % During the Period, 2019-2026 –Blueweave Consulting
According to BlueWeave Consulting, the Global Transplantation Market worth is expected to reach USD 24.09 billion by 2026 from USD 13.7 billion in 2019, at a CAGR of 8.4% during the projection period. The market is driven by growing prevalence of chronic diseases and increasing incidence of burns & accidents across the world and eventual organ failures. It thrives on the demand for organ transplants, tissue products, immunosuppressant drugs and preservation solutions. Also, the technological advancements in products and transplants support the market growth coupled with high success rate of transplant procedures. The wide prevalence of organ-threatening diseases such as diabetes, cancer, heart diseases, renal diseases lead to organ failures requiring transplantation. Market players respond with new product launches or application to cater to the transplantation needs with their existing organ & tissue procurement and preservation transplant services. Besides, rising regulatory approvals for innovative products and applications as well as new guidelines for organ donations improve the market prospects of transplantation.
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Transplantation essentially involves removal of organ or tissue from one body and placement of the same in the recipient’s body, to replace the failed or damaged organ. The human organs such as kidney, lung, liver, pancreas, cornea and skin can be transplanted. Transplants help rebuild healthy body and live healthy life. Advancements in technology have helped increase the success rate of transplantation world over. The substantial rise has been noticed in tissue transplants with advanced products. Besides, advanced software and systems facilitate convenient preservation of tissues and organs.
The Global Transplantation Market is segmented based on Product Type (i.e.,Tissue Products, Immunosuppressive Drugs, Preservation Solution), Application Type (i.e., Organ Transplant, Tissue Transplant) and End-User (i.e., Hospitals, Transplant Centers, Others.
Tissue Products secure major part of revenues and the segment is expected to retain its share because of the high demand and advancements in products (such as 3D Bioprinting) during the forthcoming period. The rising number of cochlear, orthopedics soft tissues, heart valves and bone marrow transplantation procedures combined with new product development propel the segment growth. The Immunosuppressant Drugs and Preservation Solutions are supplementary products for organ transplants and are expected to witness moderate growth.
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In terms of application, the market is divided into Organ Transplant and Tissue Transplant. The Tissue Transplant Application segment holds approximately 60% share of the market and is expected to retain the same with substantial CAGR during the forthcoming period. The demand for tissue transplant is attributed to escalating commonly performed procedures for replacement of skin, cornea, bones, veins, valves, tendons among others. Even increasing burn and accidental injuries also lead to more demand for tissue transplants.
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