Global Organ Care System Market For Lungs Expected to Garner a Revenue of $5.6 Million, Growing at a CAGR of 19.0% during the Forecast Period 2019-2026 [95-Pages] | Clarified by Research Dive
The global organ care system market for lungs is expected to witness significant growth by 2026, due to the increasing cases of the elderly population and rising adoption of bad habits. The North America region is predicted to dominate the market.
NEW YORK, April 11, 2023 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Organ Care System Market For Lungs by Handling (Portable and Trolley based), Regional Outlook (North America, Europe, Asia-Pacific, LAMEA), Global Opportunity Analysis and Industry Forecast, 2019-2026".
According to the report, the global organ care system market for lungs is anticipated to generate a revenue of $5.6 million and grow at a CAGR of 19.0% during the estimated period from 2019 to 2026.
Dynamics of the Organ Care System Market for Lungs
With the increasing cases of the elderly population and the growing adoption of bad habits such as smoking, the organ care system market for lungs is predicted to experience significant growth over the analysis timeframe. Moreover, the changing lifestyle of people such as lack of physical activities, improper diets, and many more, is further expected to bolster the growth of the market during the forecast period. However, the high rate of post-transplant complications due to the limitations of the cold storage may hamper the growth of the market throughout the estimated period.
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Segments of the Organ Care System Market for Lungs
The report has divided the market into segments based on handling, and region.
- By handling, the trolley-based sub-segment is predicted to grow at a CAGR of 19.7% during the forecast period. The increasing availability and use of trolley-based systems in most organ storage systems are predicted to augment the growth of the market sub-segment during the analysis timeframe.
- By region, the North America region of the organ care system market for lungs is expected to grow at a CAGR of 24.0% over the estimated period. The presence of a maximum number of old age population and increasing incidences of lung diseases in this region are predicted to drive the growth of the market during the forecast timeframe.
Key Players of the Market
The major players of the organ care system market for lungs include
- Organ Assist B.V
- Transmedics
- Xvivo Perfusion AB
These players are broadly working on the development of new business tactics such as mergers and acquisitions, partnerships and collaborations, and product development to gain a leading position in the global industry.
For instance, in October 2020, XVIVO Perfusion, a medical technology company focused on developing optimized solutions for organ, tissue and cell preservation in connection with transplantation announced its acquisition of Organ Assist B.V, a company that develops and markets organ perfusion systems that preserve donor organ quality over a longer period. With this acquisition, the companies aimed to make their position as global market leaders by developing optimized solutions for the perfusion of organs, tissue, and cells used in transplants and by reducing donor organ shortages by making innovative technologies available to transplant centers globally.
In addition, the report also presents other vital aspects including SWOT analysis, the financial performance of key players, product portfolio, and the latest strategic development.
More about Organ Care System Market for Lungs:
- What Are the Major Drivers for the Growth of Organ Care System Market for Lungs?
- New Product Launches & Strategic Collaborations to Propel the Growth of the Global Organ Care System Market for Heart by 2026
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