Transplant Box Market

SKU: DMHCIT3039 | Last Updated On: Oct 28 2022 | Available Formats

>Transplant Box Market Expected to reach a high CAGR 8.2% during the forecast period 2022-2029:

Transplant Box Market is segmented By Application (Heart, Liver, Lung, Kidney, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Transplant Box Market Size, Share, Growth Demand Outlook

Transplant Box Market was valued at USD million in 2021. It is forecasted to reach USD million by 2029, growing at a CAGR of 8.2 % during the forecast period (2022-2029). Transplant box technology is an experimental organ transplant and preservation system. It lets the donor organ continue functioning outside the body while transporting it. The transplant box keeps the heart healthy and safe by protecting it in an environment similar to conditions inside the body, which includes the delivery of warmth and nourishment by blood and oxygen. The transplant box technology improves tissue matching between recipients and donors, as the box allows more time to test the organ for potential rejection factors. The package could help grow the donor pool by allowing the donor organ to be safely transported over longer distances. Rising cases of multiple organ failure across the globe, especially in developed economies, coupled with an increasingly geriatric population, are the major factors driving the transplant box market's growth.

As per DataM Intelligence, Transplant Box Market study analysis offers an in-depth outlook on the market containing quantitative and qualitative data. It gives an outlook and forecast of the global market based on market segmentation. It also provides global Transplant Box Market size, and growth, along with the latest trends, opportunities, and forecast till 2029 for the global market with esteem to major countries such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and rest of the countries over the globe.

Among all regions, the North American region is expected to hold the largest share of the global market over the forecast period. Transplant Box Market in the United States and Canada produces the utmost share. Whereas the European Transplant Box Market is projected to continue its presence globally during the period of 2022- 2029.

Transplant Box Market

Metrics

Details

Market CAGR

8.2%

Segments Covered

By Application and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Market Dynamics:

The growing prevalence of cardiovascular disease leads to the market’s growth.

According to World Health Organization data, 17.9 million people died annually from cardiovascular disease in 2021. The Centre for disease prevention estimated that around 32% of deaths worldwide are due to cardiovascular disease. In the United States, heart disease is the leading cause of human death. One person dies every 34 seconds in the United States from cardiovascular disease. About 697,000 people in the United States died from heart disease in 2020. Coronary heart disease is one of the most common types of heart disease, killing 382,820 people in 2020. Thus, escalating cardiovascular disease cases are anticipated to raise the rate of heart transplants, thereby propelling the growth of the transplant box market. Furthermore, the increasing prevalence rate of chronic liver ailments such as liver cirrhosis is expected to boost market growth over the forecast period.

Moreover, Government initiatives to encourage organ donation. The rise in government initiatives to promote organ donation is another factor anticipated to propel the transplant box market during the forecast period. According to the global database on donation and transplantation data published in 2020, around 129681 organs were transplanted in the year 2020. Among these organ transplants, 80,926 are kidney transplants, 32,586 are liver transplants, 8,101 are heart transplants, 5,940 are lung transplants, and 1,970 are pancreas transplants and 158 S. Bowel transplants.

In addition, technological advancement in the organ transplant process drives organ transplants, thereby aiding the market's growth. Technological advancements are a major driver expected to accelerate the growth of the transplant box market. Market players always strive to introduce technologically advanced devices to overcome challenges, including the short duration of organ survival before transplantation. For instance, in March 2020, a Dutch biotech company, MIMETAS, introduced assay ready product line for organ-on-a-chip, OrganoPlate. It provides a platform for developing organ models, such as kidneys, liver, blood vessels, gut, and brain tissues.

However, the high cost associated with organ transplantations significantly reduces the number of patients opting for the design, thereby hampering the market's growth. Additionally, the disproportion in the supply and demand for organs hampering the organ transplant procedures market. Moreover, the uncertain reimbursement scenario of organ transplants in the insurance process also restricts the need for organ transplant immunosuppressant drugs market during the forecast period. Moreover, organ transplants' uncertain reimbursement scenario also limits the condition of the transplant box market during the forecast period.

Market Segmentation:

Kidney segment accounted for the highest share in transplant box market.

The kidney segment is anticipated to experience a significant growth rate in the transplant box market. For instance, According to Organ Donation Statistics, in 2020, there were 80,926 kidney transplants done which was 31.70% of total transplants done globally. There 55258 kidney transplants were done from deceased donors, and 25668 kidney transplants were done from living donors. Kidney transplantation or dialysis is the only treatment option to keep a patient alive. Thus, the demand for transplant boxes is expected to surge shortly. Therefore, the need for transplant boxes in kidney transplantation is estimated to contribute interestingly to the market's growth across the globe.  

Geographical Penetration:

North America is the dominating region during the forecast period.

The North American market leads with the largest market share in the global transplant box market during the forecast period. A technologically advanced healthcare infrastructure drives the growth in the U.S. This, in turn, has led to a rise in the number of transplants, thereby boosting the market share in the region. Moreover, the high investment in advanced technologies in the US healthcare sector is further expected to escalate the region's market growth during the forecast period.

Furthermore, the Asia Pacific region is expected to grow at the highest CAGR globally, owing to a considerable rise in healthcare spending to establish developed healthcare infrastructure in the area. The rising geriatric population and the increase in medical tourism due to the low cost of surgical procedures contribute to the growth of the area's market. The increase in the number of chronic diseases in the area is further contributing to the development of the transplant box market in the area.

Competitive Landscape:

The transplant box market is dominated by a few companies. Some key players in the market's growth include HIbernicor, Organix Limited, Institut Georges Lopez-IGL, Organ Recovery Systems, Inc., Paragonix Technologies, Inc., XVIVO Perfusion AB, Transmedics, Inc., and TeamBest, among others. The key players execute several growth strategies, such as product launches, acquisitions, and collaborations, which are estimated to boost the transplant box market growth globally. For instance, in March 2020, Paragonix Technologies, Inc. announced that AdventHealth, a non-profit healthcare service provider in Florida, had given the nod for using its Paragonix SherpaPak CTS to preserve donors' hearts meant for transplantation. In May 2022, OrganOx, a world leader in normothermic machine perfusion (NMP), announced a partnership with Ochre Bio for chronic liver diseases. In December 2021, OrganOx announced that it got FDA approval for its metra normothermic machine perfusion (NMP) system. This device is mostly used to preserve and transport donor livers set for transplantation. The transportable device sustains donor livers in a functioning state for up to 12 hours, mimicking the environment of the human body with warm, oxygenated blood and nutrients between donation and transplantation. In August 2021, Paragonix Technologies Announced the Launch of the New OPTION On-Demand Preservation Services Network in the United States. Due to increased product demands and the need for quick service, Paragonix launched this just-in-time service to ensure the 24/7 availability of Paragonix organ preservation products.

COVID-19 Impact:

Positive impact on the transplant box market.

The transplant box depends on the number of new heart diseases, lung diseases, and others. The COVID-19 pandemic has negatively impacted the growth of the market due to the decline in the number of diagnostic procedures, which has decreased the number of new cases of diseases and, ultimately, the demand for transplant boxes across the globe. Moreover, people have avoided hospital visits to contain COVID-19. Furthermore, the deviation in the development of the COVID-19 vaccine in the research institutes and pharmaceutical companies and the R&D in technologically advanced transplant boxes declined in 2020. Therefore, the transplant box market will witness a downfall in market revenue in 2020 and subsequent years.

Trending Topics

Organ-on-Chip Market

Transfusion Diagnostics Market

Organ Preservation Market

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