by The Global Tissue And Organ Transplantation Market is estimated to be valued at US$ 18.05 Bn in 2023 and is expected to exhibit a CAGR of 9.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Tissue and organ transplantation is a medical procedure involving transplantation of tissue or an organ from a donor to a recipient. Tissue and organs such as kidneys, liver, heart, lungs, pancreas, intestine, and skin can be replaced through transplantation. This procedure helps replace damaged or missing tissues and organs.
Market key trends:
One of the key trends in the tissue and organ transplantation market is rising number of organ donation programmes. Various governments and non-profit organizations are taking initiatives to increase awareness about organ donation and importance of registering as organ donors. For instance, National Foundation of Transplants, a non-profit organization in the US, conducts campaigns to educate people on dangers of organ shortage and encourage them to register as donors. Such initiatives are increasing organ donor registration rate and thereby meeting growing demand for transplants. However, shortage of donors is still a major challenge and demand outweighs supply in most countries worldwide.
SWOT Analysis
Strength: The tissue and organ transplantation market benefits from increasing demand for organ transplants owing to the rising prevalence of chronic diseases and rising geriatric population. It offers life-saving treatment options for patients with organ failure.
Weakness: The shortage of organ donors continues to be a major challenge facing this market. Ethical issues regarding organ donation and high costs associated with transplantation procedures are also limiting the market growth.
Opportunity: Advancements in transplantation techniques and technologies such as 3D bioprinting of tissues and organs offer new opportunities. Increase in public-private partnerships and initiatives to boost organ donation rates can boost the market opportunities.
Threats: Stringent regulatory landscape and high risk of organ rejection are major threats. Issues such as transmission of diseases and biological incompatibility of donors also pose threats to market growth.
Key Takeaways
The Global Tissue And Organ Transplantation Market is expected to witness high growth, exhibiting CAGR of 9.1% over the forecast period, due to increasing prevalence of chronic diseases and growing geriatric population susceptible to organ failure.
Regional analysis: North America dominates the market currently due to presence of supportive regulatory framework and advanced healthcare infrastructure. However, Asia Pacific is expected to witness the fastest CAGR during the forecast period driven by rising healthcare spending, increasing focus on organ donation, and growing medical tourism in the region.
Key players: Key players operating in the tissue and organ transplantation market are CryoLife, Inc., Folio Biosciences, Arthrex, Abbvie, Inc., Zimmer Biomet, Medtronic PLC, Novartis AG, Stryker Corporation, BiolifeSolutions, Inc., Teva Pharmaceuticals, and Veloxis Pharmaceutical. Players are focusing on development of innovative transplant products and services to gain competitive edge.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
