DUBLIN, Ireland, March 6, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/hp66zf/organ) has announced the addition of the "Organ Preservation Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019" report to their offering.
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The rise in incidences of organ failure in kidney, liver and heart patients across the globe is augmenting the demand for organ transplant procedures.This has further led to a rise in the demand for organ preservation solutions that help maintain the organs' viability from the time of donation to transplantation. Market growth for organ preservation solutions will also be propelled by the rise in the number of elderly people worldwide since, risk of organ failure in people of this age group is higher. Also, the American Society of Nephrology states that an aged patient's body shows less graft rejection and that has led to increased preference for organ transplants by surgeons for them. According to the U.S. Department of Health and Human Services, in 2011, 60% of the total number of individuals who underwent organ transplantation procedures in the U.S. were beyond 50 years of age. The global market for organ preservation solutions is expected to grow at a CAGR of 16.5% from 2013 to 2019 to reach an estimated value of USD 0.20 billion in 2019.
The growth of this market will also be driven by the launch of technologically advanced products such as Lifor. Lifor is manufactured by Lifeblood Medical, Inc. and is currently utilized for research purposes only. It is also termed as a blood surrogate and once its effectiveness is clinically proven for preserving human and veterinary organs, the market for the same will grow significantly. Both the developed and developing countries have recorded growth in per capita healthcare expenditure which would provide people with less expensive and better healthcare services. This will also enable the patients to afford organ transplant procedures and hence the organ preservation solutions market will grow. However, growth of this market may get hampered due to high cost of transplantation procedures and lack of organ donors which may shift the preferences of surgeons towards artificial organs.
The market for Custodiol, accounted for the largest share in terms of revenue of total organ preservation solutions market in 2012 and during the forecast period, is expected to grow at the highest CAGR. This growth will be due to the fact that it can be utilized to preserve various organs such as kidney, lungs, liver and pancreas. Also, it is a vintage preservation solution and hence has gained considerable popularity in the industry which has resulted in increasing preference for Custodiol over other solutions in the market. For instance, Custodiol is utilized extensively for preserving kidneys according to the U.S. National Institute of Health (NIH) journal.
Key Topics Covered:
2 Executive Summary
3 Market Overview
4 Global Organ Preservation Solutions Market, By Solution, 2011 - 2019 (USD Million)
5 Global Organ Preservation Solutions Market, By Preservation Technique, 2011 - 2019 (USD Million)
6 Global Organ Preservation Solutions Market, By Geography, 2011 - 2019 (USD Million)
7 Competitive Landscape
9 Company Profiles
- 21st Century Medicine
- BioLife Solutions
- Bristol-Myers Squibb
- Claris Lifesciences
- CryoLife, Inc.
- Dr. Franz Köhler Chemie
- Lifeline Scientific
- Teva Pharmaceutical Industries
- XVIVO Perfusion
For more information visit http://www.researchandmarkets.com/research/hp66zf/organ
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SOURCE Research and Markets