Growing Number of Terminally Ill Patients Drive the Global Organ and Tissue Tran

[Clark]

http://www.virtual-strategy.com/2014/09/19/growing-number-terminally-ill-patients-drive-global-organ-and-tissue-transplantation-mark

Growing Number of Terminally Ill Patients Drive the Global Organ and Tissue Transplantation Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Organ and Tissue Transplantation markets. The number of organ transplantation procedures globally is projected to reach about 148 thousand by 2020, driven by aging population, growing number of terminally ill patients, rise in organ donor awareness, and improving patient confidence in transplant procedures supported by better patient outcomes.

Buoyed by technological advancements, surgical techniques, and immunosuppressant drugs to prevent rejection, organ transplantation has become the preferred treatment for several chronic diseases related to the heart, kidneys, lungs, pancreas, and liver. Advancements in organ and tissue transplantation have phenomenally revolutionized the survival rate of terminal ill patients. Organ transplant today represents a pivotal medical intervention for thousands of patients suffering from end-stage diseases. While tissue transfer enhances the quality of life of a patient, organ transfer saves the lives of patients suffering from organ failures. The organ transplant industry, however, is hugely reliant on voluntary philanthropy and altruism in organ donation thus keeping supply of organs always under pressure. Although donations of cadaveric organs have decreased, living donor organs have witnessed a relative increase in recent times. Rising awareness and dissemination of information promoting organ and tissue donation have been playing a major role in increasing living organ donation. Turkey recorded the highest number of living organ donors in 2013, at around 46.6 per million population (PMP).

Major challenges to growth in the market include limited supply of organs, and huge expenses associated with transplant surgeries. Dearth of organs has been adversely affecting the number of transplant procedures, as several chronically ill patients waiting for organ transplants die without the receipt of a suitable organ. This, in turn, is encouraging the black market for organs, as well as propelling the medical tourism market, which is driving people overseas to buy organs for transplantation. Though Donation after Circulatory Death (DCD) is an ethically controversial issue, DCD patients represent a huge untapped reserve of potential organ donors. Consent to donate and formulating proper means to procure organs from this untapped pool can effectively address the organ shortage issue.

As stated by the new market research report on Organ and Tissue Transplantation, Europe represents the largest market worldwide supported by widespread awareness and willingness of donate organs. Norway and Belgium recorded the highest number of transplants PMP in 2012. Asia-Pacific and Latin America are forecast to witness promising growth with China and other Asian countries emerging as medical tourism destinations for organ transplantation services. Asia-Pacific is slated to grow at a compounded annual rate of 6.8% over the analysis period. Europe dominates the global kidney and liver transplant market, while the United States holds the largest share in heart, lung, pancreas, and corneal transplants.

Key players covered in the report include CryoLife Inc., Exactech Inc., Folio Biosciences, Köhler Chemie, LifeCell Corporation, Medtronic Inc., Organogenesis Inc., Organ Recovery Systems, Organ Transport Systems, and XVIVO Perfusion AB, among others.