The global transplant market is evaluated at US$165.413 billion for the year 2020 and is projected to grow at a CAGR of 3.69% to reach a market size of US$213.128 billion by the year 2027.
Transplantation is the process of a tissue specimen or a complete organ being transplanted or transferred to another place from its original site. The transplanted organ or tissue will have nourishment and develop in the new, healthier environment compared to the original site. The transplant process is a process that is widely employed in the current medical and healthcare field. The transplantation process is widely used in the case of tissues and organs such as kidneys, hearts, livers, and so on. The transplantation techniques developed in the medical field have given way to new developments and innovations in the medical field. The increasing cases of chronic diseases and the rising number of surgeries are driving the market growth of the global transplant market. The rising health awareness and consciousness of people are also driving the market growth of the global transplant market. The support of the government in promoting organ banks and organ transplantation is also contributing to the market growth of the global transplant market. International healthcare organizations' awareness programs are also promoting and encouraging people to donate organs and tissues, which contributes to the global transplant market's growth. The rising rate of organ registration is also expected to increase the demand for organ transplants in the upcoming years. The research and development process taking place in the organ transplant field is resulting in advanced developments and innovations in the organ transplant market. The investment of major players like Abbvie Inc. and Arthrex Inc. in organ transplantation is fuelling the growth of the global transplant market.
The recent outbreak of the COVID-19 pandemic has a negative impact on the growth of the global transplant market. The fear and shock induced by the COVID pandemic prevented people from going to hospitals for check-ups and consultations. The increased rate of COVID cases in hospitals resulted in less focus of hospitals and healthcare centers on non-urgent diagnostics cases and non-urgent surgeries, restraining the market growth of the global transplant market. The impact of COVID-19 also resulted in fewer registrations for organ donation and organ transplant surgeries. The parameter of becoming COVID negative to engage in surgical procedures and for tissue and organ donation also declined in the global market of the transplant sector in the COVID pandemic period. The dilemma created by the COVID pandemic made the medical research and development sector focus more on the prevention of COVID spread and developing vaccines for COVID-19, resulting in the downfall of the global transplant market.
Rising Demand for Organ Transplants and Increasing Cases of Chronic Diseases
The increasing demand and popularity of organ transplantation are boosting the market growth of the global organ and tissue transplant market. The efficiency offered by transplantation methods or surgeries and the success rate of transplant methods are giving potential to the growth of the global transplant market. According to the reports of PAHO (Pan American Health Organisation), about 100+ lung transplantation surgeries to take place in the United States every year. The United States Department of Health and Human Services states that about 107,000 people are on the national transplant waiting list as of 2021. The increased rate of organ transplantation and organ registration is raising the market size of the global transplant market. The rising incidenceof chronic diseases is also one of the major factors driving the growth of the global transplant market. According to the data by the ALA (American Lung Association), about 9 million adults suffered from chronic bronchitis in 2018, which led to lung transplantation and surgery. ALA also states that around 200,000 new lung cancers are reported in the U.S. every year. The rising demand for organ and tissue transplantation as an effective treatment for some chronic diseases is driving the market growth of the global transplant market.
Government Initiatives and Support
The high level of support offered by governments and other organizations are one of the major factors driving the market growth of the global transplant market. Government initiatives and policies are assisting in the growth of the global transplant market. The organ and tissue banks developed by the collaboration of governments and private companies are also fuelling the growth of the global transplant market. The high investment of companies in the organ transplant market is enhancing the development and innovations in the global transplant field. The development of new 3D technologies and advanced features in the field introduced by major companies is also fuelling the growth of the global transplant market.
The region of North America dominates the market
Geographically, the North American region is expected to showcase drastic growth in the global transplant market. The well-developed infrastructure and the presence of leading companies are contributing to the market growth in the North American region. The presence and increasing rate of chronic diseases are also propelling the growth of the global transplant market.
|Market size value in 2020||US$165.413 billion|
|Market size value in 2027||US$213.128 billion|
|Growth Rate||CAGR of 3.69% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, End-Use, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Abbvie Inc., Arthrex Inc., Medtronic PLC, Teva Pharmaceuticals, Zimmer Biomet, Strykers, Novartis AG, Veloxis Pharmaceuticals, 21st Century Medicine, BiolifeSolutions Inc|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the transplant market size by 2027?
A1. The global transplant market is projected to reach a total market size of US$213.128 billion by 2027.
Q2. What is the size of the global transplant market?
A2. Transplant Market was valued at US$165.413 billion in 2020.
Q3. What are the growth prospects for the transplant market?
A3. The transplant market is projected to grow at a CAGR of 3.69% during the forecast period.
Q4. Which region holds the largest market share in the transplant market?
A4. The North American region is expected to dominate the global transplant market owing to the well-developed infrastructure and presence of leading companies in the region.
Q5. What factors are anticipated to drive the transplant market growth?
A5. Factors contributing to the bariatric surgery market growth are the increase in obesity, rising cases of type 2 diabetes and cardiovascular diseases, increasing demand for minimally invasive surgical techniques.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Transplant Market Analysis, by Type
5.2. Tissue Transplant
5.3. Organ Transplant
6. Global Transplant Market Analysis, by End-Use
6.3. Transplant Centers
7. Global Transplant Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Abbvie Inc.
9.2. Arthrex Inc.
9.3. Medtronic PLC
9.4. Teva Pharmaceuticals
9.5. Zimmer Biomet
9.7. Novartis AG
9.8. Veloxis Pharmaceuticals
9.9. 21st Century Medicine
9.10. BiolifeSolutions Inc
21st Century Medicine
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