Rockville, MD, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Fact.MR, a leading market research company, in its newly published industry report, reveals that the solid organ transplant market is estimated to reach a valuation of US$ 4.9 billion in 2024 and further advance at a CAGR of 4.9% between 2024 and 2034.
Since solid organ transplantation has been so successful in saving and enhancing lives, its demand is rising steadily on a global scale. More patients are looking at this transformative option as medical advancements improve transplant results and broaden the variety of illnesses that can be treated.
Organ waiting lists are outgrowing available donors on a global scale. Demand has been further stimulated by the greater diagnosis of organ failure brought about by improved healthcare in developing countries. Patients and their families with comparable difficulties find encouragement in the success tales of transplant recipients who go on to lead fulfilling lives.
Discrepancy between supply and demand for organs remains despite initiatives to raise organ donation rates. Innovative strategies, such as living donor programs, organ preservation technology, and research into artificial organs and xenotransplantation, have been spurred by this scarcity. To fully capitalize on this life-saving medical discovery, there is an increasing demand worldwide, highlighting the need for ongoing funding for transplant research, public awareness campaigns to encourage organ donation, and international collaboration.
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Key Takeaways from Solid Organ Transplant Market Study:
- The global solid organ transplant (SOT) market is projected to increase to a size of US$ 7.88 billion by the end of 2034.
- East Asia is forecasted to occupy a global market share of 14% by the end of 2034.
- The market in North America is forecasted to expand at a CAGR of 5.8% from 2024 to 2034.
- Operations for solid organ transplants are projected to increase at a CAGR of 2% from 2024 to 2034 in Japan. The country is forecasted to occupy a market share of 24.7% in the East Asia region by 2034.
- The United States is estimated to account for 85.5% market share in the North American region in 2024.
- Based on therapy, demand for immunomodulatory therapies is projected to rise at a CAGR of 5.2% through 2034.
“The field drives innovation in immunology, tissue engineering, and regenerative medicine, making transplantation more affordable effective and faster healing for patients,” says a Fact.MR analyst.
Leading Players Driving Innovation in Solid Organ Transplant Market:
Astellas Pharma US, Inc.; Bristol-Myers Squibb Company; AbbVie Inc.; Amneal Pharmaceuticals, Inc.; Asahi Kasei Pharma Corporation; Azurity Pharmaceuticals, Inc.; Bausch Health Companies Inc.; Genentech USA, Inc.; Glenmark Pharmaceuticals Inc., USA; Novartis; Pfizer Inc.; Sanofi S.A.; F. Hoffmann-La Roche AG
3D Organs Facilitating Faster Organ Transplantation:
The viable donor pool has increased due to advancements in ex vivo organ perfusion technologies, which enhance donor organ preservation and evaluation. Because of this development, organs that were previously considered marginal can now be transplanted, cutting down on waiting periods and improving patient access. Advances in immunosuppression, including more specialized treatments and tolerance induction methods, are leading to better long-term results and a higher standard of living for patients. Patients and doctors now see transplantation as a more appealing choice due to these developments.
Development of 3D-printed tissues and bioengineered organs offers hope for solving the organ scarcity issue. Transplanting animal organs into humans, or xenotransplantation, is developing quickly in the meanwhile, and encouraging preclinical experiments are raising hopes for a new supply of transplantable organs. In addition to enhancing results, these breakthroughs are broadening the spectrum of illnesses that can be treated, increasing the demand for transplants worldwide, and changing the competitive environment.
Solid Organ Transplant Market News:
- In August 2023, TransMedics purchased Bridge to Life Ltd. for technology, which included the LifeCradle Heart Preservation Transport System, in an effort to broaden its customer base. This acquisition will strengthen the company's position in the market by increasing the range of products it offers for organ transplants.
- In March 2023, two major medical companies, MediGO and LiveonNY, joined forces to launch a real-time organ tracking system. This device facilitates the tracking of organ transplants and donations.
- Precise Bio and Carl Zeiss joined forces in July 2022 to create natural lenticular transplants to cure keratoconus and correct eyesight, as well as commercialised synthetic corneal tissue for use in hospitalised patients.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the solid organ transplant market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on therapy (immunomodulatory therapies, biomarker-driven therapies, targeted immunosuppressive therapies), drug class (alkylating agents, calcineurin inhibitors, interleukin inhibitors, mTOR inhibitors, antiproliferative agents, steroids), organ type (kidney, liver, pancreas, heart, lung, small bowel), age group (infants/pediatrics, adults), distribution channel (hospital pharmacies, retail pharmacies, online pharmacies, other distribution channels), and end user (hospitals, transplant centers, ambulatory surgical centers, academic & research centers), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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