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Organ And Tissue Transplantation Market Report
Organ and Tissue Transplantation Market, By Product (Tissue Products, Immunosuppressive Drugs, Preservation Solution), By Application (Organ Transplantation, Tissue Transplantation), By End-Use (Hospitals, Transplantation Centers, Others) and Region ...
Impact of COVID-19 on Organ And Tissue Transplantation Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Organ and Tissue Transplantation Market is estimated to grow from USD 13.8 billion in 2020 to USD 23.3 billion by 2026 at a healthy CAGR of 9.3% during the forecast period.
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Transplantation is a complex area of medicine because when tissues or organs are transplanted from one person to another, the recipient’s immune system can reject and destroy the donor tissue or organ and medication would be required to suppress the immune response.
Key players operating in the Organ and Tissue Transplantation market are-
Growing demand for tissue and organ transplantation, especially from high-income countries is one of the key countries. Rising prevalence of diseases including cancer, diabetes, renal diseases, cardiovascular diseases, and Alzheimer’s disease have posed a threat of irreversible tissue damage to a large population, across the globe is a key factor boosting the market growth. Moreover, increasing demand for novel tissue transplantation products and organ transplantation for the treatment of organ failure is likely to offer lucrative opportunities.
Based on product, the organ and tissue transplantation market is classified into tissue products, immunosuppressive drugs, and preservation solutions. The tissue products segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. This is mainly because replacement of cornea, skin, heart valves, bones, nerves, tendons, and veins are the most commonly performed procedures across the globe, which bolsters the segment growth.
By region, the North American market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to a surge in the number of transplantation surgeries performed, high consumer awareness, presence of excellent healthcare infrastructure, the large presence of a majority of major players, and rise in government and R&D activities, thereby proliferating the regional market growth.
The COVID-19 outbreak has moderately affected the organ and tissue transplantation industry. The virus outbreak has turned the lives of people worldwide, with the number of cases increasing rapidly. The COVID-19 crisis has reduced the number of visits to hospitals and surgeries were postponed to curb the spread of the virus, thus affecting the market growth amid the pandemic.
Here is the list of the group of customers that the organ and tissue transplantation market hopes to have the greatest opportunity to convert-
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The organ and tissue transplantation market is expected to witness an impressive growth of 9.3% CAGR in the coming years.
CryoLife, Inc. (US), Folio Biosciences (US), Arthrex (US), Abbvie, Inc. (US), Zimmer Biomet (US), Medtronic PLC (Ireland), Novartis AG (Switzerland), Stryker Corporation (US), BiolifeSolu-tions, Inc. (US), and Teva Pharmaceuticals (Israel) are among the key players in the organ and tissue transplantation market.
The organ and tissue transplantation market size is expected to reach USD 23.3 billion in the foreseeable future.
The tissue products segment is expected to register a healthy CAGR in the organ and tissue transplantation market in the coming years.
North America is expected to grow at a substantial CAGR in the organ and tissue transplantation market in the next five years.
Organ and tissue transplantation vendors, Organ and tissue transplantation retailers, Surgery clinics, Hospitals are among the key players in the organ and tissue transplantation market.
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