World News: 10:58 GMT Tuesday 3rd December 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Dec. 03, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.
The global organ transplantation market is estimated to reach US$18.21 billion in 2023, growing at a CAGR of 11.77% for the period spanning 2019-2023.
The growth of the market has been driven by the growing elderly population, expanding urbanization, rising healthcare spending, accelerating economic growth and increasing obesity rates. Some of the noteworthy trends of the market include rising prevalence of chronic diseases, upsurge in alcohol consumption, advancements in technological innovations and growth in transplant tourism. However, growth of the market would be challenged by the high cost of treatment, organ rejection and shortage of organ donors.The global organ transplantation market is categorized on the basis of organ type, product type and end-user. On the basis of organ type, the global organ transplantation market can broadly be divided as heart, kidney, lung, liver, pancreas and others. In terms of product type, the global market can be categorized into organ preservation solutions, immunosuppressive drugs and others. On the basis of end-user, the global organ transplantation market can be segmented into hospitals, transplant centres and others.The fastest growing regional market is Europe and the Middle East due to expanding urbanization, developed medical sector, encouragement for organ donation, and increasing expenditures on healthcare. North America represents one of the largest organ transplantation markets and is already well-penetrated at developed market levels. Asia Pacific region is an emerging market where growth lies in the development in the healthcare industry, the presence of a huge patient population pool and the availability of skilled professionals and the large population suffering from chronic diseases.
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Globe Newswire: 10:58 GMT Tuesday 3rd December 2019
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