The coronavirus pandemic has had a remarkable impact on the global organ care system for the liver market. The main cause of this growth is the increase in chronic diseases. The major market players are focused on developing strategies to support market growth in the post-pandemic market.
New York, USA, September 21, 2021 (GLOBE NEWSWIRE) – According to a recent report from Research Dive, the global organ care system for the liver market should reach $ 42.7 million by the end of 2026 To 9.3% CAGR, increasing compared to $ 21.1 million in 2018. The comprehensive report provides a brief overview of the current market scenario including other aspects such as market dynamics, growth and restraining factors, challenges, and opportunities over the forecast period. The report also offers the market figures, which makes it easier and more efficient for new participants to understand the real-time scenario of the market.
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Factors Affecting CAGR Numbers Before and During COVID-19
The report reveals the real-time CAGR recorded by the market during the pandemic. According to the report, the liver organ care system market registered a CAGR of 9.3% in recent months, while it was estimated to be 8.5% in the pre-pandemic scenario. The main factor behind the growth is the increase in cases of liver failure due to the huge consumption of alcohol. Liver failure requires an immediate transplant to save the patient’s life. This reason impacted the growth of the market during the pandemic period.
The wearable segment is expected to have the highest growth rate
On the basis of handling, the liver organ care systems market is segmented into carts and portable. The wearable segment accounted for $ 9.1 million in 2018 and is expected to grow at a CAGR of 9.8% during the forecast period. The acquisition of easy to transport and less space is expected to boost the segment during the forecast period.
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Factors Affecting Market Growth
According to our analysts, the increase in chronic liver disease is estimated to be the major driving force behind the liver organ care systems market during the forecast period. Moreover, the cost of the treatment for liver transplant is very high which is expected to hamper the growth of the market during the forecast period.
Factors Affecting Income Before and After the Pandemic
According to the report, the size of the real-time market has been increased from pre-COVID-19 estimates. The real-time market generated revenue of $ 25.2 million, while it was estimated to be $ 24.8 million in pre-COVID analysis. The main reason for the growth of the market is the large number of investments made in research and development by the major players in the industry, so that the demand for OCS devices can be met in a timely manner. This is the main reason for the growth of the market during the pandemic.
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Key market players and strategies
The main players in the global organ care system for
Organ Assist BV
XVIVO Perfusion AB
Paragonix Technologies Inc.
Preservation solution inc.
Bridge to Life Ltd.
Organ transport system inc.
Organ Recovery Systems Inc.
LLC Water Medical System
Preservation solution inc.
and much more. These players work on developing strategies such as product development, mergers and acquisitions, partnerships and collaborations to support market growth.
For example, in March 2021, X2O Media, a global leader in virtual collaboration technology for businesses, and TransMedics Inc., a medical technology company transforming organ transplantation, successfully completed the installation of the room. X2O collaboration to provide an immersive virtual training environment for clinical users of their newest Organ Care System (OCS â¢) technology around the world. TransMedics looks forward to leveraging the X2O Collaboration Room and providing advanced training for surgeons and transplant experts.
The global report revealed that the global organ care system for the liver market will experience significant growth even after the pandemic. The increase in chronic liver related diseases across the globe is expected to support the market growth in the coming years. In addition, the growing investments by government agencies for advanced research and development of organ care systems is another factor that is expected to help the market come out of the pandemic.
Besides, the report contains detailed information of major business manufacturers such as SWOT analysis, product portfolio, financial position – Inquire to access the detailed report on the development strategy of the best companies
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