There has been a lack of awareness and knowledge regarding organ donation. Governments and organizations have conducted various campaigns to boost awareness among people, thereby increasing organ donation in the last few years. For instance, governments have declared August 13 as world organ donation day to spread awareness about organ donation and address the myths related to organ donation. Governments also provide incentives and other support to increase organ donations. The government of India has enacted the Transplantation of Human Organs Act (THOA) 1994 under the National Organ Transplantation program to provide a system of removal, storage, and transplantation of human organs for therapeutic purposes and the prevention of commercial dealings of human organs.
Furthermore, the increasing collaborations are expected to create ample growth opportunities for the organ care products market. For instance, Southwest Transplant Alliance (STA) and TransMedics have partnered to utilize the Organ Care System (OCS) Lung System, allowing portable organ perfusion, ventilation, and monitoring. This technology evaluates and preserves donated lungs before transplantation. This partnership enables STA to improve and monitor lung function and provide a second chance to patients in desperate need. Hence, all the factors mentioned above are expected to create numerous opportunities in the organ care products market over the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC organ care products market. The APAC organ care products market is expected to grow at a good CAGR during the forecast period.
APAC Organ Care Products Market Segmentation
The APAC organ care products market is segmented into modality, organ type, end user, and country. Based on modality, the market is segmented into trolley and portable. In 2021, the trolley segment held a larger share of the market. In terms of organ type, the market is segmented into kidney, liver, heart, lungs, and others. In 2021, the kidney segment held the largest market share. Based on end user, the market is segmented into hospitals, ambulatory surgical centers, and others. In 2021, the hospitals segment held the largest share of the market. Based on country, the APAC organ care products market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC.
Accord Healthcare, Dr. Franz Koehler Chemie GmbH, TransMedics, and XVIVO Perfusion are among the leading companies in the APAC organ care products market.