Transplantation Industry Overview
The global transplantation market size is expected to reach USD 30.9 billion by the year 2030, expanding at a CAGR of 9.4%, according to a new report by Grand View Research, Inc. Growing incidence of organ failure has resulted in massive growth in the transplantation market.
Rising demand for transplant products such as tissue products, immunosuppressants, and organ preservation solutions is a major factor anticipated to boost the market’s growth during the forecast period. Thus, many biotechnology and medical device companies have begun to concentrate on the development of advanced transplant products for the management of organ failure.
Transplantation Market Segmentation
Grand View Research has segmented the global transplantation market on product, application, end-use, and region:
Based on the Product Insights, the market is segmented into Tissue Products, Immunosuppressive Drugs and Preservation Solution.
- Tissue products were the highest revenue-generating segment in 2021 with a market share of 57.8%. The increasing number of transplantation procedures such as that of cochlear, heart valves, bone marrow, and orthopedic soft tissues is attributed to the growth of the segment.
- Immunosuppressive drugs segment is projected to showcase lucrative growth during the study period. This can be attributed to the high usage of these drugs to prevent post-transplant tissue or organ rejection.
- The preservation solutions segment is expected to exhibit significant growth during the study period due to rising government support for stem cell research and the high application of these products to improve the physiological function of organs.
Based on the Application Insights, the market is segmented into Organ Transplantation and Tissue Transplantation.
- Tissue transplantation dominates the market with market size of 7.6 billion in 2021. This is due to the fact that the replacement of skin, cornea, bones, heart valves, tendons, nerves, and veins are most commonly performed procedure worldwide.
- The organ transplantation segment is expected to show a lucrative growth rate during the forecast period. The increasing number of organ transplantations globally as well as the repetitive purchase of immunosuppressants is anticipated to boost the market growth in the near future.
Based on the End-use Insights, the market is segmented into Hospitals, Transplant Centers and Others.
- The hospitals segment held the largest market share of 49.6% in the year 2021.
- A large number of organ and tissue transplant procedures are conducted at hospitals as they are primary treatment centers. Additionally, the emergence of hospitals with developed infrastructure is further expected to fuel market growth.
- The number of transplant centers is expected to exhibit the highest growth during the forecast period. Escalating transplantation procedures have triggered the need for an increased number of healthcare centers catering to the unmet needs of the patients.
- Also, rising government initiatives to encourage organ donation are projected to propel market growth.
Transplantation Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is highly fragmented with the presence of many large, small, and medium-scale vendors. Rising regulatory approvals for allografts, autologous grafts, and other materials along with the development of innovative products, such as 3D bioprinting, have led to high demand for transplant products.
Some prominent players in the Transplantation market include
- AbbVie, Inc.
- Arthrex, Inc.
- Zimmer Biomet
- Medtronic
- Novartis AG
- Stryker
- 21st Century Medicine
- BioLifeSolutions, Inc
- Teva Pharmaceuticals
- Veloxis Pharmaceuticals
Order a free sample PDF of the Transplantation Market Intelligence Study, published by Grand View Research.
No comments:
Post a Comment