The tissue and organ transplantation market involves the treatment procedure of replacing diseased tissues or organs with those that are healthy from a donor. This includes tissues such as heart valves, bones, tendons and skin as well as organs like kidneys, liver, heart, and lungs. The demand for transplantation is rising owing to the increasing prevalence of chronic diseases and accidents resulting in organ failures. Transplantation helps save lives and improve the quality of life by replacing non-functioning tissues and organs with healthy ones from donors. Tissues and organs can be transplanted from both living as well as deceased donors.
The Global tissue and organ transplantation market is estimated to be valued at US$ 20.8 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the tissue and organ transplantation market are 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. These players are focusing on new product launches, strategic collaborations and geographical expansion to gain higher market share.
The key opportunities in the market include increasing organ donations due to effective donor awareness campaigns, growing investment by public-private organizations in transplantation-related research and development, and rising medical tourism in developing countries for inexpensive transplantation procedures.
Global expansion of major players through acquisitions and partnerships with regional players has helped increase the geographical footprint. For example, in 2020, Yakult Honsha Co., Ltd. acquired full ownership of Yakult Pharmaceutical Industry Co. to expand its overseas operations. Another major player Nestle S.A. has a strong global presence across over 140 countries.
Market Drivers
Increase in the number of organ donations and transplant procedures performed globally every year is a key driver propelling market revenue growth. According to the Global Observatory on Donation and Transplantation, over 140,000 solid organ transplant procedures were performed in 2020 worldwide, signifying a gradual rise over the years. Shortage of organs remains a challenge but various donor awareness programs have augmented organ donations.
Market Restraints
High cost associated with organ transplantation surgery remains a major restraint. According to the United Network for Organ Sharing, the average cost of a kidney transplant in the United States is over $400,000. Lack of comprehensive health insurance coverage for transplantation in developing countries further dampens the market. Also, the threat of organ trafficking and unethical organ harvesting hinders legal and ethical organ procurement. Strict regulatory norms and long approval timelines for new transplant products also impede market growth to some extent.
Segment Analysis
The Tissue And Organ Transplantation Market Demand is segmented into tissues and organs. The tissue sub-segment comprises skin, bone, heart valves, blood vessels, soft tissues among others. Among these, the skin sub-segment dominates the market and is expected to retain its position over the forecast period. This is owing to the increasing cases of burns and wounds globally which requires skin grafting procedures.
Global Analysis
The North America region holds the major share in the tissue and organ transplantation market due to high healthcare expenditure, awareness regarding organ donation and advancing medical infrastructure in the region. The large number of organ transplantation facilities and organ donation programs further support market growth. Moreover, the presence of key players and availability of the latest technologies are contributing to the region's large share. The Asia Pacific region is expected to grow at the fastest rate during the forecast period owing to increasing medical tourism, developing healthcare infrastructure as well as growing prevalence of chronic diseases in the region.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
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