The global transplant market is projected to witness a high growth during the forecast period 2018-2023
The recent study on the global transplant market covers in-depth analysis of the market on the basis of type, procedure, product, and geography. The report also covers the country level analysis within the regions as well. In addition, the report covers the key trends in the market along with drivers and restraints during the forecast period 2018-2023. According to the report titled “Global Transplant Market - Forecasts From 2018 To 2023”, the market is expected to surge at a good annual growth rate during the projected period. The report has segmented the global transplant market by type (tissue transplant, organ transplant), procedure (autotransplantation, allotransplantation, xenotransplantation), product (immunosuppressive drugs, preservation solutions, tissue products, transplant instruments), and geography (North America, South America, Europe, Middle East and Africa, Asia Pacific). The global transplants market is poised to show strong growth due to the demand for transplantation worldwide. In addition, the growing prevalence of chronic diseases, either due to the adoption of unhealthy living conditions or due to aging, will pose as one of the main drivers of the market growth during the forecast period. Furthermore, the growing healthcare expenditure is expected to provide an opportunity for the growth of the global transplant market in the coming years.
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Growing health expenditure will drive the growth of the global transplant market during the forecast period and beyond.
According to the WHO insights, the member states having the highest level of transplantation activity tended to have relatively high total health expenditures and low out-of-pocket expenditure. On the other hand, member states having no transplantation activity or only living transplantation activity tended to have below-average health expenditures but showed no clear trend regarding out-of-pocket expenditure, indicating a positive relationship between health expenditure and transplant activities in multiple regions.
The Asia Pacific region is expected to be the fastest growing.
The transplant market in this region is expected to show good growth during the forecast period. This is due to the fact that the Asia Pacific region has a high prevalence of population suffering from the chronic diseases, and a high geriatric population, for example, Japan having the highest number of people 65 years of age or older in the world. In addition, India has become an international hub of medical tourism with highly skilled and efficient medical professionals, owing to the cheaper healthcare cost in comparison to Western Europe, and North America, which will further propel the market in the near future. Furthermore, favorable government policies such as the incorporation of an organ transplant by the Chinese government into its national strategy and heavy investment in research, development, and personnel training in transplantation technology (source: China Organ Harvest Research Center), will snowball the transplant market in the coming years.
Some of the major players discussed in the reports are Transplant Biomedicals, Global Transplant Solutions, and Medistim International, among others.
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