Organ Care Products Market worth over $295mn by 2028

Organ Care Products Market size is set to be surpass USD 295 million by 2028, according to a new research report by Global Market Insights Inc.
 

Growing incidence of organ failure across developed and developing countries will positively impact the market growth in the coming years. The market expansion is attributable to the adoption of sedentary lifestyle leading to prevalence of chronic disorders such as diabetes, hypertension and high blood pressure that increases the risk of single or multiple organ failure. As the organ transplantation offers life-saving treatment that reduces the mortality and morbidity associated with organ failure, the demand for organ care products is anticipated to increase.

Technological advancements in organ care products market will further create significant growth opportunities. Product developments have improved the quality of organ care, thereby increasing procedural success rate. New technologies providing advanced features and enabling easy functioning will boost the product acceptance rate. Furthermore, benefits associated with organ care systems such as organ preservation at optimal condition, easy transportation and convenience in workflow will propel the industry growth. However, high cost of transplantation procedures restricts the preference in low and middle-income groups.
 

Need for optimal solutions to reduce procedural complexity will augment the market progression

Heart care products segment valued at USD 25 million in 2021. Population aging and lifestyle changes are some of the prominent factors responsible for the segment growth as it increases the risk of heart failure. Increasing need for heart transplantation to cater growing disease burden will offer growth opportunities to the segment. Further, the need for optimal solutions to reduce procedural complexity and time will drive the product demand.
 

Browse key industry insights spread across 101 pages with 128 market data tables & 13 figures & charts from the report, “Organ Care Products Market Size By Organ Type (Kidney, Liver, Heart, Lungs), By Product Type (Trolly, Portable), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/organ-care-products-market
 

High product usage owing to the benefit of portability to strengthen the market value

Portable organ care products market accounted for more than 40% of revenue share in 2021 led by the increasing adoption of portable devices as it offers high mobility and convenience during the transport. Further, the development of innovative systems for expanded application areas will offer unprecedented growth opportunities. As portable system helps in easy organ monitoring, it assists professionals to improve patient throughput. Therefore, high product acceptance will foster segment expansion.
 

High incidence rate of organ failure will create the growth opportunities for European region

Europe organ care products market is projected to witness 16.2% growth rate through 2028 due to the increasing number of transplantation procedures driving the need for donor organs. Moreover, introduction of favourable reimbursement policies will positively impact the procedural rate in Europe. Further, rising per capita income enhancing the treatment accessibility and usage of advanced technologies in healthcare facilities will stimulate the regional growth in the coming years.
 

Collaboration agreements and product approvals will help the industry players to broaden product offerings

Major renowned companies operating in the market are TransMedics Inc., Bridge to life Ltd., XVIVO, OrganOx Limited and Organ Recovery system. These industry leaders are adopting numerous growth strategies such as collaborations, acquisitions, partnership, and product launches to expand their market footprints.