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:
The tissue and organ transplantation market deals with the replacement of injured or failed organs with healthy organs from donors of the same species. Organs like kidney, liver, heart, lungs, pancreas and intestines are commonly transplanted along with tissues like skin, bone marrow, cornea and heart valves. Organ transplantation has become a viable treatment option for end-stage organ failure and other diseases. It helps improve the quality of life and longevity of patients. The growing pool of organ donors and development of immunosuppressant drugs that reduce rejection are fueling the market growth.
Market key trends:
One of the key trends in the tissue and organ transplantation market is the rising number of living organ donors. Earlier most donations used to come from deceased donors. However, with better awareness, more people are now willing to donate organs while alive. For example, in the U.S., the number of living organ donors has doubled from 2000 to 2019. The other notable trend is the increased transplantation of vascularized composite allografts (VCA) like hands or face. Advancements in microsurgery techniques have enabled transplantation of more complex tissues with vasculature. 3D bioprinting of tissues and organs is also a promising area of research that can help address the organ shortage issue in the future. The development of organs from patient’s own cells would preclude the need for immunosuppression as well.
Porter’s Analysis
Threat of new entrants: The tissue and organ transplantation market has moderate threat of new entrants due to high regulatory barriers, capital requirements and established economic of scale of existing players.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of many substitutes like artificial organs. Buyers can easily switch between service providers based on pricing and quality of service.
Bargaining power of suppliers: Suppliers of organs and tissues have low bargaining power as there are few alternative suppliers in market and demand is growing rapidly.
Threat of new substitutes: Threat of new substitutes is moderate as research on stem cells and artificial organs is progressing but commercialization will take long time.
Competitive rivalry: The tissue and organ transplantation market experiences high competitive rivalry owing to increasing number of players in market.
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 incidence of accidents, trauma cases and chronic medical conditions.
Regional analysis: North America dominates the global market owing to supportive reimbursement policies, rising focus on research activities and transplant programs. Asia Pacific exhibits fastest growth during forecast period due rising healthcare awareness, increasing incidents of organ failure and growing aging population.
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. Major players are focusing on new product launches, geographical expansion and acquisitions to garner market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
