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DUBLIN--(BUSINESS WIRE)--Sep 20, 2022--
The "Global Tissue Transplant Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global tissue transplant market was evaluated at US$112.408 billion for the year 2020, growing at a CAGR of 8.48%, reaching the market size of US$198.728 billion by the year 2027.
Chronic disorders frequently result in severe organ damage. This damage is frequently irreparable, resulting in lifelong reliance on medications. Transplants are the only way to restore a healthy life under such extreme circumstances. Tissue transplants, also known as grafts, are procedures in which a tissue or a piece of tissue is transplanted from its original location to the area of interest in an individual (same or separate). As a result, the new and healthy environment nurtures the transplanted graft.
One of the primary factors boosting the worldwide tissue transplant market in the foreseeable period is the rise of chronic diseases such as diabetes, cancer, cardiovascular disease, renal disease, and Alzheimer's disease has put a large population at risk of permanent tissue damage.
Furthermore, the market is being driven by rising health awareness and government activities related to tissue donation. Additionally, the fact that skin, cornea, bones, heart valves, tendons, nerves, and veins are the most routinely performed procedures worldwide is driving the market growth.
The rising number of burn and injury cases will likely drive tissue product demand. In Spain, 102,362 injury accidents were documented, according to the European Road Safety Observatory study. As a result, there is a demand for tissue transplantation. Moreover, technological developments will fuel market expansion in the next years, creating opportunities.
However, the worldwide tissue transplant market's growth may be hampered by transplant rejection throughout the forecast period. In addition, a lack of awareness about tissue transplantation is limiting market expansion.
Because of the rising frequency of burns and acid damage in accidents, the skin segment is expected to hold a significant proportion of the market. Extensive injury or damage can also be treated with skin grafts.
A tiny patch of skin is removed from a patient's body part and joined to or transplanted to the damaged area of the body using skin from another part of the patient's body during a skin grafting process. The skin patch is transplanted or connected to the burnt or wounded area. Furthermore, the rising prevalence of skin cancer and diabetes is also accelerating market growth.
During the projection period, the allograft segment is expected to grow at a significant CAGR. Allograft is the transplantation of an organ, tissue, or cells from one person to another person of the same species who is not an identical twin. The improved treatment outcomes in patients due to allograft goods are credited with the segmental increase. Furthermore, market participants are concentrating on various methods to extend their product offerings in the allograft segment, which will drive segmental expansion in the future years. For example, Stryker and AlloSource announced the launch of ProChondrix CR, an osteochondral allograft for articular cartilage repair patients, in 2018.
North America is expected to take the lead in terms of market share. This region's dominance can be attributed to a well-developed healthcare infrastructure as well as regional leaders. Another vital component in the region's development is the introduction of new products. Lupin offered Tacrolimus, an immunosuppressive medicine, in the United States in November 2020 in collaboration with Concord Biotech. Europe is the second-largest market due to its spending on R&D for its activities. This, together with the region's enormous patient population, is expected to fuel growth over the predicted period.
SegmentationBy Tissue Type
By Type of Graft
By Geography
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Global Tissue Transplant Market Analysis, by Tissue Type
6. Global Tissue Transplant Market Analysis, by Type of Graft
7. Global Tissue Transplant Market Analysis, by Geography
8. Competitive Environment and Analysis
9. Company Profiles
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/gw3lfg
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KEYWORD:
INDUSTRY KEYWORD: GENERAL HEALTH GENETICS HEALTH
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/20/2022 10:31 AM/DISC: 09/20/2022 10:32 AM
http://www.businesswire.com/news/home/20220920005961/en