Organ Preservation Solution Global Market Report 2024

The organ preservation solution market size has grown strongly in recent years. It will grow from $274.48 billion in 2023 to $295.92 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth observed during the historic period in the organ preservation solutions market can be attributed to several factors, including the rise in organ transplants, a growing awareness of organ donation, the expansion of healthcare infrastructure, and an increasing incidence of organ failure. These factors collectively contributed to the increased demand for organ preservation solutions, as they play a critical role in maintaining organ viability during transplantation procedures, improving the chances of successful organ transplantation, and addressing the needs of patients with organ failure.

The organ preservation solution market size is expected to see strong growth in the next few years. It will grow to $406.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The anticipated increase during the forecast period is driven by a heightened need for extended criteria organs, the expansion of organ procurement programs, a dedicated emphasis on organ quality and functionality, and global initiatives aimed at tackling organ shortage. Key trends expected in the forecast period involve the adoption of preservation solutions in organ banking, a market focus on extending preservation times, the incorporation of additives for improved preservation, a concentration on portable and compact organ preservation devices, and collaborative efforts for research and innovation in organ preservation.

The anticipated surge in organ transplantation is poised to drive the growth of the organ preservation solution market in the coming years. Organ transplantation, a surgical procedure involving the extraction and transfer of organs or tissues from a donor to a recipient, relies on organ preservation solutions to mitigate damage during transportation and storage, thereby enhancing organ viability for successful transplantation. For instance, data from the Organ Procurement and Transplantation Network (OPTN) in January 2023 revealed a 3.7 percent increase in organ transplants in 2022, totaling 42,887 procedures compared to 41,354 in 2021. Kidney transplants, constituting a significant share with 25,000 procedures, exhibited a 3.4 percent growth in the United States. Consequently, the upswing in organ transplantation is a key driver for the organ preservation solution market.

The growth in the organ preservation solution market is further propelled by increased healthcare spending. Healthcare spending, the total financial allocation to the healthcare sector in a specific region, country, or organization, plays a vital role in optimizing organ transplantation outcomes. Organ preservation solutions are integral to preserving organ viability during transportation and storage, contributing to successful transplant procedures. Notably, in March 2023, the American Medical Association reported a 2.7% increase in health spending in the United States in 2021, reaching $4.3 trillion or $12,914 per capita. This heightened investment in healthcare is a significant factor driving the growth of the organ preservation solution market.

The organ preservation solution market is witnessing a notable trend towards product innovation, with major companies strategically focusing on the development of advanced products to fortify their market positions and gain a competitive edge. An exemplar of this trend is evident in the actions of Paragonix Technologies Inc., a prominent US-based provider of donor organ preservation and transport systems. In October 2021, the company introduced the LIVERguard Donor Liver Preservation System, a cutting-edge preservation and transport system designed for clinical and commercial use in the US and Europe. This system boasts a meticulously regulated and advanced environment for hypothermic liver preservation, incorporating real-time digital monitoring to ensure the safeguarding of a donor's liver throughout the entire transplant process - from donation to transplantation.

Moreover, major companies in the organ preservation solution market are actively pursuing technological advancements, particularly in the realm of organ tracking technology, as a strategic move to enhance their competitive standing in organ transportation. Organ tracking technology involves a spectrum of tools and systems dedicated to monitoring the location and condition of organs during transit. In October 2022, Paragonix Technologies Inc. unveiled its VantagePoint organ tracking technology, providing real-time tracking capabilities for donor organs in transit. This technology aims to enhance transparency and accountability in donor organ transportation, augmenting the digital tracking capabilities offered by the Paragonix App.

In May 2021, Paragonix Technologies Inc. entered into a partnership with Southwest Transplant Alliance, a US-based medical company. This collaborative effort is geared towards delivering cutting-edge organ preservation technology to support the organizations' shared mission of saving lives through organ transplantation and donation. As part of this collaboration, Paragonix will supply clinical support, technology, and information on the advanced preservation features of the PARAGONIX SHERPAPAK CARDIAC TRANSPORT SYSTEM. This strategic partnership underscores the commitment of major players to advance organ preservation solutions and contribute to the progress of organ transplantation initiatives.

Major companies operating in the organ preservation solution market report are Bristol-Myers Squibb Company, Baxter International Inc., Teva Pharmaceutical Industries Ltd., Accord Healthcare, BioLife Solutions Inc., Lifeline Scientific, TransMedics Group Inc., XVIVO Perfusion AB, Organ Recovery Systems Inc., Bridge to Life Ltd., Paragonix Technologies Inc., OrganOx Limited, BioTime Inc., Shanghai Genext Pharmaceutical Technology, 21st Century Medicine, Institut Georges Lopez, Carnamedica, Global Transplant Solutions, Preservation Solutions Inc., Essential Pharmaceuticals LLC, Dr. Franz Köhler Chemie GmbH, Advanced Organ Preservation Solutions (OPSL Group), Vascular Perfusion Solutions Inc., Transplant Biomedicals SL, Claris Lifesciences Limited.

North America was the largest region in the organ preservation solution market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the organ preservation solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the organ preservation solution market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

There are several main types of organ preservation solutions, including Viaspan, Custodiol-HTK (Histidine-Tryptophan-Ketoglutarate), Renograf, Hypothermosol, Perfadex, Lifor, HBS (Hyperosmotic Blood Substitute) Solution, siRNA (Small Interfering RNA) Transplant Solutions, and others. Viaspan, for example, is utilized for the cold storage preservation of solid organs such as the liver, pancreas, and kidneys. It plays a crucial role in maintaining organ viability during transportation and before transplantation. These solutions are employed in preserving various organs, including kidneys, liver, lungs, hearts, and others, utilizing techniques such as static cold storage (SCS) and hypothermic machine perfusion. These preservation techniques are essential for ensuring the successful transplantation of organs and improving overall patient outcomes.

The organ preservation solution research report is one of a series of new reports that provides organ preservation solution market statistics, including the organ preservation solution industry's global market size, regional shares, competitors with an organ preservation solution market share, detailed organ preservation solution market segments, market trends and opportunities, and any further data you may need to thrive in the organ preservation solution industry. This organ preservation solution market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The organ preservation solution market consists of sales of the histidine-tryptophan-ketoglutarate solution and hypertonic citrate adenine solution. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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