The organ transplantation market basically deals with the transplantation procedure of the organs. Organ transplantation is a medical procedure in which an organ is removed from one body and transplanted into another to fill a gap or replace a damaged or missing organ. This procedure is mostly used to treat organ failure in the lungs, kidneys, liver, and other organs. Patients with a dead brain whose other organs are healthy and can be used to save another person’s life are the most common candidates for organ transplantation. Prior to this dynamic procedure, the family’s or the patient’s consent is critical, as organ harvesting is an illegal and heinous crime without consent.
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The organ transplantation market is growing largely across the globe and is expected to grow at the same pace within the forecast period. Increased social awareness regarding the organ transplantation is estimated to accelerate the market’s growth.
Data Bridge Market Research analyses that the organ transplantation market is expected to grow at a CAGR of 9.36% during the forecast period. The “kidney” accounts for the largest application segment in the organ transplantation market within the forecasted period.
Furthermore, the advances in the technology and development within the medical sector such as the developing techniques for vascular anastomoses, managing the immune response (chemical immunosuppressants) and devising preservation solutions are projected to extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Moreover, the progress in medical biotechnology will further expand the organ transplantation market’s growth rate in the future.
North America dominates the organ transplantation market because of the high prevalence of organ failures of patients, presence of established healthcare infrastructure and advanced transplant centers in the U.S and consistent development of healthcare infrastructure within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the high prevalence of organ failures of patients, and consistent development of healthcare infrastructure in the region.
Some of the major players operating in the organ transplantation market are Medtronic, Novartis AG, Pfizer Inc., Sanofi, Terumo Corporation, Preservation Solutions, Inc., TransMedics, Inc., Organ Recovery System, Transonic, AbbVie Inc., Stryker, Zimmer Biomet, 21st Century Medicine, BioLife Solutions ., Teva Pharmaceutical Industries Ltd., Veloxis Pharmaceuticals Inc, Redhill Biopharma Ltd., Organdonor, and NHS Blood and Transplant among others.
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