Paragonix Technologies (US), XVIVO Perfusion AB (Sweden) and Dr. Franz Köhler Chemie GmbH (Germany) are leading players in Organ Preservation Market
Paragonix Technologies (US), XVIVO Perfusion AB (Sweden), Dr. Franz Köhler Chemie GmbH (Germany), and Essential Pharmaceuticals, LLC (US) and Transmedics (US) are the leading players in the organ preservation market.
The global organ preservation market is projected to reach USD 317 million by 2026 from USD 230 million in 2021, at a CAGR of 6.6%. The growth of the organ preservation market is mainly driven by the increasing incidence of multi-organ failure, the growing geriatric population, the rising number of organ transplants and organ donors, and increasing initiatives to encourage organ donations. However, the high cost of organ transplantations and religious concerns in specific geographies are expected to limit market growth to a certain extent.
The global organ preservation market is less fragmented and highly competitive. Some of the major players governing the overall organ preservation market include Paragonix Technologies (US), XVIVO Perfusion AB (Sweden), Dr. Franz Köhler Chemie GmbH (Germany), Essential Pharmaceuticals, LLC (US), TransMedics (US), OrganOx Limited (UK), 21st Century Medicine (US), Shanghai Genext Medical Technology (China), Bridge to Life Limited (US), Waters Medical Systems (US), Preservation Solutions (US), Carnamedica (Poland), Transplant Biomedicals (Spain), Institut Georges Lopez (France), and Global Transplant Solutions (US).
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Paragonix Technologies (US) is the leading market player for their organ preservation and transport devices. It operates mainly in the US and Europe. The company is focused in developments such as new product launches, partnerships, agreements and approvals since 2016. The company has developed devices for all major thoracic and abdominal organ preservation and transport. Paragonix also focuses on software services and tools for real-time organ tracking. The company recently launched a new organ transport device Sherpapak Pancreas Transport System. Paragonix also partnered with Lung Transplant Foundation to develop a series of technologies to improve donor lung preservation. In January 2021, the company partnered with Southwest Transplant Alliance (STA) to provide advanced organ preservation technologies. Such development proves the strong market prevalence of the company.
XVIVO Perfusion AB (Sweden) is a prominent player in the market and a public domain company. It is headquartered in Sweden and conducts operations in Europe, Asia, the Middle East, and North & South America. It spends nearly 31% of its revenue on R&D as a result of which the company is involved in developing improved products for organ perfusion. XVIVO’s lung perfusion solution is used mainly in Lung Preservation, making the solution a gold standard for lung preservation. In September 2020, XVIVO Perfusion entered into an acquisition agreement with Organ Assist. This agreement further strengthened the company’s product offerings and expanded its addressable market.
Dr. Franz Kohler Chemie GMBH (Germany) is another market leader of organ preservation solutions since 1959. It is involved in the development of electrolyte solutions, organ-protective solutions, therapeutics, antidotes, and X-ray contrast agents and medical devices. It has captured the market for Custodial, an organ preservation solution. Custodial holds advantages over other solutions like reduced viscosity and an improved graft survival rate and is widely used for the preservation of all organs unlike other solutions. Due to these advantages of a Custodial solution for organ preservation, it proves that Dr. Franz Kohler Chemie GMBH holds a substantial market prevalence.
Related Reports:
Organ Preservation Market by Solution (UW, Custodial HTK, Perfadex), Technique (Static Cold Storage, Hypothermic, Normothermic), Organ (Kidneys, Liver, Heart), End User (Transplant Centers, Hospitals, Specialty Clinics) - Global Forecast to 2026
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