Tissue And Organ Transplantation Market Is Estimated To Witness High Growth Owing To Rising Prevalence Of Chronic Diseases

Tissue And Organ Transplantation Market

The Tissue And Organ Transplantation Market is estimated to be valued at US$ 18.05 Bn in 2023 and is expected to exhibit a CAGR of 9.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Tissue and organ transplantation involves replacing diseased or damaged tissues and organs with healthy ones from donors. It is often the best treatment option for those suffering from end-stage organ failure or irreversible failure of organs like heart, kidneys, lungs and liver. The transplantation is needed for chronic conditions like cardiovascular diseases, renal diseases and cancers.

Market key trends:
The growing prevalence of chronic diseases like cardiovascular diseases, diabetes, and organ failure disorders are increasing the demand for organ replacement therapies globally. According to the WHO, cardiovascular diseases remain the number one cause of death globally, taking an estimated 17.9 million lives each year. Moreover, diabetes is projected to be the 7th leading cause of death by 2030. This rising disease burden along with growing geriatric population is expected to drive the demand for tissue and organ transplantation procedures over the forecast period. Additionally, increasing government initiatives to encourage organ donation along with improvement in healthcare infrastructure in many developing nations will further aid industry growth. However, shortage of donors and high cost associated with transplantation surgeries continue to hinder widespread adoption of these procedures.

Porter’s Analysis

Threat of new entrants: New entrants face high capital requirements for infrastructure and regulatory approvals, reducing threat.

Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and less differentiation between providers.

Bargaining power of suppliers: Suppliers of tissues and organs have considerable power as the supply is limited and prices can be negotiated upwards.

Threat of new substitutes: Substitutes like 3D bioprinting of tissues and organs pose a threat in long run but no major substitutes currently exist.

Competitive rivalry: Fierce competition exists among existing transplant providers to gain market share.

SWOT Analysis

Strengths: Growing demand for transplantation surgeries due to geriatric population and lifestyle diseases. Rising government initiatives worldwide to increase organ donation.

Weaknesses: Shortage of organ donors globally leads to insufficient supply to meet demand. High complexity of transplant procedures increases risks.

Opportunities: Advancements in tissue engineering and regenerative medicine to develop artificial tissues and organs can drive future growth. Untapped potential in developing regions.

Threats: Stringent regulations delay market approvals. Ethical issues associated with commercial trading of human tissues and organs.

Key Takeaways

The Global Tissue And Organ Transplantation Market is expected to witness high growth at a CAGR of 9.1% over the forecast period, due to increasing burden of chronic disorders. The market size is estimated to reach US$ 18.05 Bn in 2023. North America dominates the market currently due to presence of major market players and availability of reimbursements for transplant procedures in the region.

Regional analysis displays that Asia Pacific is fastest growing region in the tissue and organ transplantation market due to rising healthcare spending, growing medical tourism industry and increasing focus on quality healthcare infrastructure development in India and China.

Key players operating in the tissue and organ transplantation market are CryoLife, Inc., Folio Biosciences, Arthrex, Abbvie, Inc., Zimmer Biomet, Medtronic PLC, Novartis AG, Stryker Corporation, BiolifeSolutions, Inc., Teva Pharmaceuticals, and Veloxis Pharmaceutical. Major players are focusing on new product launches, acquisitions and geographic expansions to increase their market presence.

Read More - https://www.rapidwebwire.com/tissue-and-organ-transplant-segment-is-the-largest-segment-driving-the-growth-of-tissue-and-organ-transplantation-market

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