The global organ care system market for liver accounted for $21.1 million in 2018 and is estimated to surpass $42.7 million by 2026, growing at a CAGR of 9.3%.
The organ care system market for liver will witness a steeper growth during the COVID-19 pandemic outbreak in 2020. This is majorly due to the rising cases for liver transplantation that the organ care system market for liver is predicted to grow in the forecast period. Moreover, unavailability of donors is predicted to hamper the market in the forecast period.
|Realtime BPS||*Estimated market Size, 2020,
|**Real Time market Size, 2020,
|8.5%||9.3%||81||USD 24.8 Million||USD 25.2 Million|
* The numbers are estimated prior to the COVID-19 Pandemic in 2020
** The data will vary depending on upcoming developments announced by the operating players
KEY ASPECTS OF THE INDUSTRY
BOOMERS AND DECLINERS
The pandemic has positively impacted the organ care system market for liver. Increasing cases for liver transplantation are predicted to boost the organ care system market for liver in the forecast period. Moreover, increasing cases of the end stage liver failure due to the increase in the consumption of alcohol is predicted to drive the organ care system market for liver in the forecast period.
Shortage in the availability of the donors across the globe is predicted to hamper the market growth in the forecast period. Moreover, the high degree of uncertainty and risk is predicted to be the biggest restraint for the organ care system market for liver in the forecast period. In addition, high cost involved for treating and transplantation of organs is predicted to hinder the market growth in the forecast period.
Despite the COVID-19 pandemic, the organ care system market for liver will witness positive growth. The usage of organ care systems allows to preserve organs for a longer duration after separation from the donor body. The key benefit for the growth of the global market is increase in the funding and investment done in research and development by most of the manufacturing companies. For instance, Transmedics initiated a public offering following a successful trial resulting in the reduction of complications in liver transplant.
Due to pandemic the entire world is facing a lockdown but the health care and hospitality industry are continuing with their day to day operational work, which is predicted to increase the use of OCS machines to a larger extent due to increasing demand. This aspect is predicted to eventually boost the overall market in the projected timeframe.
MANAGING SUCCESS AMIDST
THE PANDEMIC STRESS
Manufacturers are significantly making continuous improvements in the organ care system market for liver to meet the demand of supply. The demand for organ care system devices has increased at a faster rate during the pandemic. Moreover, rise in the chronic disease of liver is predicted to be the major driving factor for the organ care system market for liver in the forecast period. In addition increasing R&D by manufacturers for production of the devices is predicted to boost the overall market in the forecast period. For instance, TransMedics has proposed public offering following positive OCS Liver Protect trial results and J.P. Morgan and Morgan Stanley are acting as joint lead book-running managers in the offering.
Investment opportunity in OCS market for liver is predicted to create a more investment opportunity in the forecast period. Large cases of liver diseases and improvisation in standard of living are rising the demand for liver transplantation which make the manufacturer to invest more in the OCS for liver market in the forecast period.
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Our group of skilled analysts provide a solution to help the companies to survive and sustain in this global pandemic. We support companies to make informed decisions based on our findings resulting from the comprehensive study by our qualified team of experts. Our study helps to acquire the following:
- Long-term and Short-term impact of Covid-19 on the market
- Cascading impact of Covid-19 on the Organ Care System Market , due to the impact on its extended ecosystem
- Understanding the market behaviour pre- and post-Covid-19 pandemic
- Strategic suggestions to overcome the negative impact on your business or turn the positive impact into an opportunity