Organ Transport Devices Market Expected to Hit US Dollar
NEWARK, Del, July 18 2022 (GLOBE NEWSWIRE) — According to the latest industry analysis from Future Market Insights, the global organ transport devices market was valued at around $105.9 min in 2021 and is expected to show a CAGR of 8.7% over the forecast period (2022-2032). Organ transplantation is considered a medical process, which involves removing an organ from one body and transplanting it into another body to replace a missing or damaged organ.
Health services and the quality of care have improved thanks to technological advances in the sector. The growing demand for organ transplantation is expected to drive research and development activities, as well as investments in new organ care products.
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For example, in April 2021, TransMedics Group Inc. launched “Heart in a Box” or Transmedics Organ Care System (OCS) Heart. The portable organ care device can store and monitor hearts donated for transplant up to three times longer than current methods.
Additionally, to meet the increased need for organ transplantation, various bioengineering organizations are conducting research and development activities. Governments also provide funds to these companies to accelerate research work.
In July 2022, for example, researchers from various institutions around the world announced that the US FDA may soon allow them to perform clinical trials that would involve transplanting pig organs into humans. Hence, increasing number of clinical trials by key players is expected to help the global organ transport devices market reach $265.1 min in 2032.
Moreover, the key players operating in the industry are focusing on expanding their geographical presence by strengthening their distribution networks, launching promotional activities and improving customer services for brand enhancement and services. products. This would further push the organ transport device market over the next decade.
Key Takeaways: Organ Transport Devices Market
- By product, the cold or hypothermic infusion devices segment holds close to 63.7% in market share in 2021 and is expected to show a CAGR of 9.2% in 2022-2032.
- Per organ, the renal segment contained approximately 62.0% in market share in 2021 and is expected to show a CAGR of 8.5% over the forecast period.
- By end-user, transplant centers held the highest organ transport device market share of approximately 67.4% in 2021.
- The U.S. Organ Transport Devices Market Generated a Solid Share of Approximately 92.4% in 2021.
- North America is considered the top region and holds a share of 36.9% in 2021 in the organ transport devices market.
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“Increased rate of organ transplant procedure and urgent need for organ transplant procedures are expected to increase the global organ transport device market share,” says an analyst from Future Market Insights.
Competitive Landscape: Organ Transport Devices Market
Key players in the global organ transport devices market including Paragonix Technologies, TransMedics Inc. and EBERS Medical Technology SL. engage in collaborations with local brands to gain a competitive advantage. These companies aim to expand their geographical presence and compete with other key players.
Some of the latest developments in the global organ transport devices market are:
- In December 2021the University of Nebraska has worked with Paragonix Technologies, a leading provider of donor organ storage and transport systems, to increase organ donor supplies.
- In July 2021, Carolina Donor Services and TransMedics have collaborated to develop a national organ care system that increases the number of lungs available for transplantation. With this system, lungs can be transported over long distances and can save many lives.
- In January 2022, EBERS Medical Technology SL. won the tender for the construction of a new generation of normothermic ex vivo perfusion system.
More Valuable Insights About Organ Transport Devices Market:
Future Market Insights brings comprehensive research report on projected revenue growth at global, regional and country levels and provides analysis of latest industry trends in each of the segments from 2017 to 2032. Organs is segmented in detail to cover all aspects of the market and present the reader with a comprehensive approach to market intelligence.
The study provides compelling insights into the organ transport devices market segment based on product (hot or normothermic infusion devices and cold or hypothermic infusion devices), organ (liver, heart, kidney, lung and others) and end-user (hospitals, transplant clinics and ambulatory surgical centers) in seven major regions.
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Organ Transport Devices Market Outlook by Category
- Hot or normothermic infusion sets
- Cold or hypothermic infusion sets
- Others (pancreas, small intestine)
Per end user:
- Transplant centers
- Ambulatory surgery centers
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa (MEA)
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About Future Market Insights Healthcare Division
Future Market Insights helps businesses, governments, investors, and related audiences in the healthcare sector identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technological evolution, and other issues crucial to achieving lasting success. Our unique approach to gathering market intelligence enables you to design innovation-driven trajectories for your business. Learn more about our industry coverage here.
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
2.3. Inclusions and exclusions
3. Key Market Trends
3.1. Key trends impacting the market
3.2. Innovation / Development Trends
4. Key success factors
4.1. Regulatory landscape
4.2. Pipeline assessment
4.3. New product launches and approvals
4.4. Product Adoption / Usage Analysis
4.5. Key strategies adopted by market players
4.6. Porter’s analysis
4.7. PESTLE Analysis
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