Dublin, April 25, 2024 (GLOBE NEWSWIRE) — The “Global Transplant Market – Forecasts from 2024 to 2029” report has been added to ResearchAndMarkets.com’s offering.
The transplant market is expected to grow at a CAGR of 9.35%, reaching a market size of US$31.2 billion in 2029 from US$16.7 billion in 2022.
The increasing number of cases of chronic diseases and the rising number of surgeries are driving the market growth of the global transplant market. The rising health awareness and consciousness of people are also driving the market growth of the global transplant market. The support of the government in promoting organ banks and organ transplantation is also contributing to the market growth of the global transplant market. International healthcare organizations’ awareness programs are also promoting and encouraging people to donate organs and tissues, which contributes to the global transplant market’s growth.
The rising rate of organ registration is also expected to increase the demand for organ transplants in the upcoming years. The research and development process taking place in the organ transplant field is resulting in advanced developments and innovations in the organ transplant market. The investment of major players like Abbvie Inc. and Arthrex Inc. in organ transplantation is fuelling the growth of the global transplant market.
MARKET DRIVERS:
Rising Demand for Organ Transplants and Increasing Cases of Chronic Diseases
The increasing demand and popularity of organ transplantation are boosting the market growth of the global organ and tissue transplant market. The efficiency offered by transplantation methods or surgeries and the success rate of transplant methods are giving potential to the growth of the global transplant market. According to the reports of PAHO (Pan American Health Organisation), about 100+ lung transplantation surgeries take place in the United States every year. The United States Department of Health and Human Services states that about 107,000 people are on the national transplant waiting list as of 2021.
The increased rate of organ transplantation and organ registration is raising the market size of the global transplant market. The rising incidence of chronic diseases is also one of the major factors driving the growth of the global transplant market. According to the data from the ALA (American Lung Association), about 9 million adults suffered from chronic bronchitis in 2018, which led to lung transplantation and surgery. ALA also states that around 200,000 new lung cancers are reported in the U.S. every year. The rising demand for organ and tissue transplantation as an effective treatment for some chronic diseases is driving the market growth of the global transplant market.
Government Initiatives and Support
The high level of support offered by governments and other organizations is one of the major factors driving the market growth of the global transplant market. Government initiatives and policies are assisting in the growth of the global transplant market. The organ and tissue banks developed by the collaboration of governments and private companies are also fuelling the growth of the global transplant market.
The high investment of companies in the organ transplant market is enhancing the development and innovations in the global transplant field. The development of new 3D technologies and advanced features in the field introduced by major companies is also fuelling the growth of the global transplant market. Government initiatives, including public campaigns, education programs, and legislative measures, can increase organ donation awareness and increase donor organ availability. They also establish and enforce regulatory frameworks for organ transplantation, allocate funding for research and development, and enhance healthcare infrastructure, including transplant centers, to ensure safe and effective transplant procedures.
North America is anticipated to dominate the market
Geographically, the North American region is expected to showcase drastic growth in the global transplant market. The well-developed infrastructure and the presence of leading companies are contributing to the market growth in the North American region. The presence and increasing rate of chronic diseases are also propelling the growth of the global transplant market. North America is expected to dominate the global transplant market due to its advanced healthcare infrastructure, research and innovation, high incidence of chronic diseases, well-established organ procurement and transplantation networks, regulatory environment, availability of donor organs, economic factors, and collaborations between transplant centers, healthcare institutions, and pharmaceutical companies.
The region’s advanced medical facilities support successful implementation of organ transplantation procedures. The high incidence of chronic diseases, such as end-stage renal disease, liver failure, and heart failure, drives the demand for transplant procedures. The regulatory environment, including oversight by organizations like the United Network for Organ Sharing, influences the transplantation market. The region’s efforts in promoting organ donation and transplantation awareness contribute to the higher availability of donor organs.
Companies Featured
- Abbvie Inc.
- Arthrex Inc.
- Medtronic PLC
- Teva Pharmaceuticals
- Zimmer Biomet
- Strykers
- Novartis AG
- Veloxis Pharmaceuticals
- 21st Century Medicin
- BiolifeSolutions Inc
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 128 |
| Forecast Period | 2022 – 2029 |
| Estimated Market Value (USD) in 2022 | $16.71 Billion |
| Forecasted Market Value (USD) by 2029 | $31.24 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
Market Segmentation
By Type
- Tissue Transplant
- Organ Transplant
By End-Use
- Hospitals
- Transplant Centers
- Others
By Geography
- North America
- South America
- Europe
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
For more information about this report visit https://www.researchandmarkets.com/r/m64i7x
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