SAN FRANCISCO, May 4, 2020
SAN FRANCISCO, May 4, 2020 /PRNewswire/ -- The organ preservation market is expected to reach USD 332.8 million by 2027, exhibiting a CAGR of 6.5% during the forecast period, according to a new report by Grand View Research, Inc. The increasing geriatric population, rising initiatives towards encouraging organ donation, and increasing cases of organ failure across the globe are the key factors driving the growth.
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Read 80 page research report with ToC on "Organ Preservation Market Size, Share & Trends Analysis Report By Solution (University Of Wisconsin, Custodial HTK, Perfadex), By Organ Type, By Preservation Technique, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/organ-preservation-market
Increasing cases of organ failure across the globe and rising number of organ transplantation procedures are the key drivers impacting the growth of the market for organ preservation over the forecast period. According to the report published by the U.S. Department of Health and Human Services in 2019, around 40,000 organ transplantation procedures were performed in the country. It also reported that around 8.7% of organ transplantation procedure increased from 2018 to 2019.
Similarly, as per the report published by the European Commission in 2018, around 34,000 organ transplantations were performed in Europe, of which; the numbers of kidney transplants, liver transplants, heart transplants, and lung transplants were 21,227, 7,940, 2,287, and 1,980, respectively. An increase in the number of organ donors is also expected to positively impact the market.
For instance, as per the report published by the U.S. Department of Health and Human Services in 2019, the rate of deceased donors increased 10.7% from 2018 to 2019 in the U.S. and almost 7,400 living donor transplants were recorded in 2019. Therefore, such instances are expected to positively influence the market, thereby propelling the market growth.
Grand View Research has segmented the global organ preservation market on the basis of solution, organ type, preservation technique, and region:
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