The trends in the healthcare industry are changing drastically with constant development in technology and innovation, enhancing healthcare services and quality of care. Various market players are operating globally and striving hard to acquire the largest market share, followed by the rising demand for organ transplantation. This 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 for up to three times longer than current methods. The company has developed the same kind of system for liver and lung preservation, which allows healthcare professionals to store organs in a functional state for a longer period. Furthermore, researchers from Western University have developed portable temperature regulating devices to transport temperature-sensitive arrays such as organs and vaccines.
On the other hand, there has been a constant rise in the demand for organ transplantation with a limited number of donors, increasing the mortality rate. Several 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 & tissue engineering to develop alternatives for heart transplants in the future. They are also researching bioengineering lungs as a short-term option for lung transplantation, advanced 3-D bioprinting, and others. Thus, an increase in such research and development activities is likely to contribute to the growth of the organ care products market.
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 MEA organ care products market. The MEA organ care products market is expected to grow at a good CAGR during the forecast period.
MEA Organ Care Products Market Segmentation
The MEA 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 MEA organ care products market is segmented into Saudi Arabia, South Africa, UAE, and the Rest of MEA.
Accord Healthcare, Dr. Franz Koehler Chemie GmbH, TransMedics, and XVIVO Perfusion are among the leading companies in the MEA organ care products market.