Tissue and Organ Transplantation involves the replacement of damaged or diseased tissues and organs with healthy ones from donors. It is a medical procedure used to treat organ failure or replace missing or damaged tissues. Some common organ and tissue transplants include kidney, liver, heart, lung, pancreas and intestine transplants. The demand for transplantation procedures is increasing owing to growing incidence of chronic diseases like cancer, renal diseases, cardiovascular diseases and others leading to organ failure.
The global 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 7.9% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Growing Awareness About Organ Donation and Transplantation Procedures
There has been a significant rise in awareness about organ donation and transplantation through public education campaigns globally in the recent years. Various government and non-government organizations are undertaking initiatives to educate people about the critical need for organ donations and importance of registering as an organ donor. They are promoting the benefits of organ donation in saving lives of patients suffering from organ failure. This is increasing the willingness among people to donate organs and sign up as donors in organ registries. The growing awareness is expected to positively impact the number of organ donations and transplants being conducted each year, thereby driving the market growth over the forecast period.
Porter's Analysis
Threat of new entrants: The high investment costs required for research, development and infrastructure development make it difficult for new players to enter the market. Bargaining power of buyers: The buyers have moderate bargaining power as the demand for organ transplantations is inelastic in nature. Bargaining power of suppliers: The suppliers' bargaining power is moderate as the organ and tissue suppliers are limited and regulated by governments. Threat of new substitutes: There exist limited substitutes for organ transplantations. However, ongoing advancements in artificial organ technologies can emerge as substitutes in future. Competitive rivalry: The market has the presence of a significant number of players operating globally. Market players compete on the basis of technology innovations, strategic collaborations and quality of services.
SWOT Analysis
Strength: Advancements in transplant technologies have increased organ transplant success rates. Growing prevalence of organ failure diseases worldwide has driven market demand.
Weakness: Shortage of organ donors remains a key challenge. Significant costs associated with transplant surgeries limit access in developing regions.
Opportunity: Rising healthcare expenditures in emerging economies offer lucrative market growth prospects. Growing research into stem cell therapies and artificial organs present new opportunities.
Threats: Stringent regulations delay market approvals and commercialization of new therapies. Ethical concerns associated with organ sourcing hinder market expansion.
Key Takeaways
The Global Tissue And Organ Transplantation Market Demand is expected to witness high growth at a CAGR of 7.9% during the forecast period of 2023 to 2030. The market size for 2024 is estimated to reach US$ 18.05 Bn.
Regional analysis:
North America region currently dominates the market and is expected to continue its dominance during the forecast period. Growing incidence of chronic diseases and presence of advanced healthcare systems have augmented market growth in the region.
Key players in the market include Probi AB, Chr. Hansen Holding A/S, Danone S.A., Yakult Honsha Co., Ltd., Nestle S.A., DowDuPont Inc., Kerry Group plc, BioGaia AB, Probiotics International Limited (Protexin), UAS Laboratories LLC. Key players are focused on developing new organ bioengineering technologies and targeting emerging economies through strategic collaborations.
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