Global Organ Care System Market: Overview
The technology behind all the organ care systems is nearly the same. All the systems consist of minimum of a single or more pump units. Majority of organ care systems also have thermos units and work benches or trolleys. In addition to this, these systems also provide optimal tools for preservation, re-conditioning, and pre-conditioning. The main difference in each system depends upon the type of organ it is designed for. Organ care systems are designed to enhance the time frame for the preservation of organ outside of the body. These systems can take care of the organs till they are required for the transplantation. The organ care system offers considerable benefits to physicians, third party payers, and most importantly to patients. It also helps in preservation of donor organs at the time and improves their quality over time.
Global Organ Care System Market: Notable Developments
Some of the key developments in the global organ care system market are given below:
- Recently, TransMedics have developed an organ care system. The company claimed that the system could potentially enhance the function of the organ after removal from the donor body. The company invested around US$51.2 million to support its newly developed organ care system.
- In June 2019, TransMedics also announced that the company has been successful in getting a pre-market approval from the US FDA to expand the indication for its organ care system for lung preservation. The company also received pre-market approval for ex-vivo assessment system to initially involve lung donors who are deemed unacceptable for transplantation because of the limitations on cold storage.
Global Organ Care System Market: Drivers and Restraints
There are numerous factors that are responsible for the development of the global organ care system market:
- Host of benefits: The use of organ care system offers host of benefits to numerous verticals of the healthcare block chain including third party payers, patients, and physicians. The use of the system allows better preservation of organ after separation from the donor body. This has led to the increased adoption of these organ care systems and thus helped in the growth of the global market.
- Easy availability of organs: One of the main benefit and the driving factor for the growth of the global organ care system market is the easy availability of organs when required for transplantations. These systems can take care of the required organ and keep them ready for transplant if and when the condition arises. This is hugely beneficial for the patient who needs a transplant and greatly reduces the waiting time. This has also helped in driving the growth of th global market in recent years.
- Increased research and development activities: In addition to the factors mentioned above, another key reason for the growth of the global market is the increased funding and investments for the activities of research and development. Prominent players in the global market are investing heavily to develop innovative products and get FDA approval and generate better revenue in the market. This has also greatly helped in developing the growth of the global market.
Global Organ Care System Market: Geographical Outlook
The global organ care system market is segmented into key geographical regions such as North America, Latin America, the Middle East and Africa, Asia Pacific, and Europe. Of these, the global market is expected to be dominated by the North America market. Some key factors responsible for the growth of the regional market are increasing incidences of death due to organ failure, growing trend of organ donation among the educated and well ware base of population, and constant technological advancements in the healthcare sector.
