March 29, 2022 05:30 ET | Source: The Insight Partners The Insight Partners

New York, March 29, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Organ Care Products Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Modality (Trolley and Portable), Organ Type (Kidney, Liver, Heart, Lungs, and Others), and End User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography”, the global organ care products market growth is driven by the Increasing prevalence of organ failure and organ transplants along with product launches and product approvals by regulatory bodies. However, the high cost of organ transplantation & cultural barriers is the major factor hindering the market growth.

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Organ Care Products Market: Competitive Landscape and Key Developments Companies operating in the organ care products market implement various organic developments that lead to dynamic improvements in the market. Various organic growth strategies, such as product launch, product approval, and product development, enhance the market growth. Similarly, several companies are implementing numerous inorganic strategies such as partnerships, collaborations, and mergers and acquisitions.

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In December 2021, OrganOx announced the USFDA premarket approval of Metra system. It is a fully automated NMP (normothermic machine perfusion) device to preserve and transport donor livers for transplantation. The marketing approval includes livers from donors after brain death (DBD) and donors after circulatory death (DCD).

In October 2021, Paragonix Technologies announced the clinical and commercial launch of the LIVERguard Donor Liver Preservation System in the US and Europe, along with its global clinical registry GUARDIAN-LIVER (Global Utilization and Registry Database for Improved preservation of donor LIVERs). This system is designed for consistent and repeatable standardized cold storage of livers, regardless of time, geography, or unforeseen conditions.

In September 2021, TransMedics Group, Inc. announced the USFDA premarket approval for its OCS Liver System to preserve organs after DBD and DCD. The system is used to preserve and monitor hemodynamic and metabolic function, which allows for ex-vivo assessment of liver allografts from DBD and DCD donor livers based on the OCS Liver PROTECT Trial.

In September 2021, TransMedics Group, Inc. announced the USFDA premarket approval for its OCS Heart system. It is designed to preserve donor hearts before transplantation. This system includes a portable enclosure to warm the donor's heart and provide oxygen, nutrients, and a heart preservation solution.

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Moreover, technological advancements in organ care products and the high adoption rate among healthcare professionals due to the increase in reliability, convenience, and portability drive the organ care products market. However, the high cost of organ transplant procedures and cultural barriers associated with organ donation hamper the growth of the organ care products market.

Global Organ Care Products Market: Key Insights – Future Trends Technological developments in the healthcare industry led to the development of healthcare services and quality of care. The rising demand for organ transplantation has increased the research and development activities and investments to innovate novel organ care products. For instance, TransMedics Group Inc. has developed a portable organ care system with novel technology known as "heart in a box," which monitors and preserves hearts donated for transplant up to three times longer than current methods. Furthermore, there has been a huge gap in organ demand and organ donation, increasing the mortality rate. Various research and development activities are going on to address such a situation. Various bioengineering organizations are conducting research and development activities to fulfill the rising demand for organ transplantation. For instance, Carnegie Mellon University is using bioprint technology and tissue engineering to develop alternatives for heart transplants in the future. Thus, it is expected that technological advancements and ongoing research and development activities are expected to amplify the growth of the organ care products market in the near future.

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Organ Care Products Market: Segmental Overview Based on modality, the organ care products market is segmented into trolley and portable. The trolley segment held a larger share of the organ care products market in 2021. The portable segment is expected to register a higher CAGR during the forecast period. Trolley-based devices are widely utilized and available in a large number of facilities. Trolley-based storage is most common in all organ storage facilities. The ease in movement during the organ transportation with trolley systems will help the market grow. Furthermore, the increase in the number of installations at various transplantation facilities, the convenience of handling, and the associated benefit of reusability paves the way for more widespread adoption of the segment.

Browse Adjoining Reports: Organ Transplantation Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type Of Organ (Heart, Kidney, Others); Products (Organ Preservation Solutions, Transplant Diagnostics, Tissue Products); Type Of Transplant (Autograft, Allograft, Others); Treatment (Analgesic, Immunosuppressant, Other); End Users (Hospitals, Transplant Centers, Other)

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