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Stem Cell Therapy Is Fasted Growing Segment Fueling The Growth Of Tissue And Organ Transplantation Market

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samruddhicmi12
Stem Cell Therapy Is Fasted Growing Segment Fueling The Growth Of Tissue And Organ Transplantation Market

The Global Tissue And Organ Transplantation Market is estimated to be valued at US$ 18.05 Bn in 2023 and is expected to exhibit a CAGR of 9.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Tissue and Organ Transplantation involves replacing a damaged or missing organ or tissue with a healthy one from another person. It is a medical procedure used to treat organ failure, replace missing organs or tissues and restore normal functioning. The growing prevalence of chronic diseases demanding organ transplantation is driving growth in this market.

Market key trends:

One of the key trends in the tissue and organ transplantation market is the growing adoption of stem cell therapy. Stem cell therapy involves the use of stem cells and their derivatives to treat diseases including heart disease, neurological conditions and cancers. It is increasingly being used as an alternative to organ transplants for the treatment of various chronic conditions. The use of stem cells for tissue engineering and organ regeneration reduces the need for organ donations and waits for transplants. This has propelled research involving stem cells for application in transplantation therapies.

Segment Analysis

The tissue and organ transplantation market is segmented by tissue or organ type into lungs, heart, liver, kidney, cornea, and others. The kidney segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. This is due to increasing cases of kidney failure across the globe. According to the Global Observatory on Donation and Transplantation data, over 6,000 kidney transplants were performed in 2017 worldwide.

Key Takeaways

The Global Tissue And Organ Transplantation Market is expected to witness high growth, exhibiting a CAGR of 9.1% over the forecast period, due to increasing organ failures and need for organ transplants.

The North America region dominated the global tissue and organ transplantation market in 2022 and is expected to continue its dominance over the forecast period. This is owing to rising geriatric population and organ failures along with well-established healthcare infrastructure in the region.

The Asia Pacific region is projected to exhibit the fastest growth in the global tissue and organ transplantation market during the forecast period. This is attributed to growing incidence of organ failures, increasing healthcare expenditure, rising medical tourism, and government initiatives to promote organ donations in emerging economies such as India and China.

Key players operating in the tissue and organ transplantation market are CryoLife, Inc., Folio Biosciences, Arthrex, Abbvie, Inc., Zimmer Biomet, Medtronic PLC, Novartis AG, Stryker Corporation, BiolifeSolutions, Inc., Teva Pharmaceuticals, and Veloxis Pharmaceutical. The market players are focusing on new product launches, acquisitions, and collaborations to sustain their market presence.


Read More - https://www.marketwebjournal.com/rising-number-of-organ-donors-to-boost-the-growth-of-tissue-and-organ-transplantation-market

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