Transplant Box Market Size

Transplant Box Market Analysis

The Transplant Box market studied is expected to register a CAGR of 8.2% over the forecast period.

The COVID-19 pandemic has impacted the studied market significantly. During the initial phase of the pandemic, due to the lockdowns and shutdowns, the number of organ transplants and surgeries decreased to avoid the contamination and spread of coronavirus. For instance, according to an article published in Transplant International in April 2021, it was observed that the pandemic had halted kidney transplant procedures worldwide, and about 40% of the US kidney transplant waiting list was inactive by the end of April 2020. The same source stated that the United States experienced a 76% decline in deceased donor transplant rates, and approximately 72% of programs suspended live donor transplants due to a lack of safe kidney transplantation. Also, France experienced a more than 90% decline in kidney transplantation rates. Thus, the decline in the number of transplantation procedures has impacted the demand for the transplant box market during the pandemic period. However, with resumed services and transplantation procedures, the studied market is expected to witness significant growth over the forecast period.

Factors such as the increasing prevalence of multiple organ failures, which raises the demand for organ transplants, and the increasing initiatives by the government and NGOs are expected to boost market growth over the forecast period.

The rising prevalence of chronic diseases, such as cardiovascular diseases, lung diseases, renal diseases, and others, among the population increases the risk of organ failure, hence fueling the demand for organ transplantation and transplant boxes. For instance, according to the 2022 statistics published by the British Heart Foundation, about 7.6 million and 6.4 million people were suffering from cardiovascular diseases in the United Kingdom and England, respectively, in 2021.

Additionally, the rising organ donations worldwide raise the demand for transplant boxes to preserve organs and transport them safely to other places. For instance, as per the 2023 statistics published by the United Network for Organ Sharing, about 14,903 people donated their organs after passing away in 2022, achieving a record for the twelfth consecutive year and increasing by 7.5 percent from 2021. Also, 4,776 people donated after circulatory death (DCD donors) as opposed to brain death in 2022, with an increase of almost 14% from the number for 2021.

Furthermore, the elderly population is more likely to suffer from dysfunction of various organs such as kidneys, liver, and heart. For instance, according to an article published in Heliyon in October 2022, it has been observed that about 75% of elderly people living in China have one or more chronic diseases, and more than 50% of these elderly people have numerous chronic diseases. Also, the high number of geriatric populations leads to a higher occurrence of organ failures, which is likely to boost the demand for organ transplant boxes. For instance, as per data published by the United Nations World Population Prospects 2022, about 771 million people aged 65 years were recorded in 2022 globally, which accounted for 9.7% of the global population. In addition, this number is projected to reach 11.7% and 16.4% in 2030 and 2050, respectively.

Moreover, the rising government initiatives in launching organ donation programs are expected to increase the demand for transplant boxes to preserve organs, hence propelling the market growth. For instance, in July 2022, the National Organ Transplant Programme (NOTP), the government of India, promoted organ donation and transplantation across the country. Also, in December 2021, the SBI Foundation launched the project 'Gift Hope, Gift Life' as part of India's National Organ Donation Day celebration. The project raises awareness regarding organ donation among the population.

Therefore, owing to the aforementioned factors, such as the high burden of chronic diseases, growing organ donations, rising geriatric population, and new product launches, the studied market is expected to grow over the forecast period. However, the high cost of transplants and transplant boxes is likely to hinder the growth of the transplant box market over the forecast period.