The global transplant box market size is anticipated to reach USD 14.4 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.6% from 2020 to 2027. The increasing number of organ transplantation procedures and initiatives encouraging organ donation are driving the market.
Increasing incidences of chronic diseases that lead to organ failure are expected to surge market growth. Transplantation is the only available procedure for patients with end-stage organ failure. For instance, as per the CDC in 2018, around 4.5 million people were diagnosed with liver disease. Such instances are anticipated to surge the rate of transplants across the globe, thereby propelling the market growth during the forecast period.
Unhealthy dietary habits, lack of exercise, alcohol consumption, and drug abuse are some of the leading causes of organ failure. For instance, diabetes and hypertension are the most common reasons for end-stage renal disease, which leads to kidney failure. Kidney transplantation or dialysis is the only treatment option to keep a patient alive. Thus, the demand for transplant box is expected to rise in the near future.
Furthermore, market players are engaged in adopting various strategies such as product launches, partnerships, and collaborations to strengthen their market position. For instance, in January 2020, Paragonix Technologies received U.S. FDA 510(k) approval for its Lung guard designed to be used for the hypothermic preservation of lungs during transportation and subsequent transplantation.
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Transplant Box Market Report Highlights
• Based on application, the kidney segment dominated the market with a revenue share of 56.6% in 2019 owing to high incidence rates of kidney failures, which results in the increasing number of kidney transplant procedures across the globe
• North America dominated the market with the highest revenue share of 48.5% in 2019 owing to the high incidence rate of cardiovascular disorders and chronic kidney disorders leading to the higher occurrence of organ failures
• In Asia Pacific, the market is expected to witness a CAGR of 9.6% from 2020 to 2027 owing to the growing aging population, increasing incidence of kidney and heart failure, and rising healthcare expenditure in this region
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Transplant Box Market Segmentation
Grand View Research has segmented the global transplant box market on the basis of application and region:
Transplant Box Application Outlook (Revenue, USD Million, 2016 - 2027)
• Kidney
• Liver
• Heart
• Lung
• Others
Transplant Box Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Spain
• Italy
• France
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Colombia
• Argentina
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
List of Key Players of Transplant Box Market
• TransMedics, Inc.
• Organ Recovery Systems
• XVIVO Perfusion AB
• Paragonix Technologies, Inc
• OrganOx Limited
• IGL
• HIbernicor
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Browse More Related Report:
Transplantation Market Size, Share & Trends Analysis Report By Product Type (Tissue Products, Immunosuppressive Drugs), By Application Type (Organ, Tissue Transplant), By End-use, And Segment Forecasts, 2021 – 2028
About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
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