Global Market for Organ Transplant Immunosuppressant Drugs to Register -7% CAGR till 2023 due to Absence of Sufficient Organ Donors
Organ transplantation is a surgical procedure to remove and transplant a healthy organ from a dead or a living person’s body into the body of patient suffering from organ failure. This procedure is carried out as the last resort for the end-stage organ failure. Once the surgical procedure for organ transplantation is conducted, the body treats the new organ as a foreign object and tries to attack and destroy it. To avoid this, every person who has been through an organ transplant has to take immunosuppressant drugs. The immunosuppressant drug is a category of drugs that are used to reduce or prevent the strength of the body’s immune system. These drugs are commonly known as anti-rejection drugs. The primary use of these drugs is to lower the body’s capability to reject the newly transplanted organ such as kidney, heart, or liver.
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Initially, the use of immunosuppressant drugs post organ transplant surgical procedures had augmented the success rate of organ transplants across the globe, however, the increasing demand for the procedure, coupled with procedural complications and lack of organ donors, often results in delay of organ transplantation, which adversely impacts the market for transplant immunosuppressant drugs. According to a research study by Transparency Market Research, in 2014, the global market for organ transplant immunosuppressant drugs stood at US$5,139 mn and is anticipated to be US$3,234 mn by the end of 2023, exhibiting a -5% CAGR between 2015 and 2023.
The inadequate insurance coverage and expensive surgical procedures are some of the major factors that are expected to hamper the growth of the global organ transplant immunosuppressant drugs market in the next few years. Moreover, lack of organ donors is also a key factor responsible for curbing the growth of this market. On the flip side, the growing prevalence of chronic diseases leading to disabilities and organ failures will drive the global market for organ transplant immunosuppressant drugs market in coming years.
The global market for organ transplant immunosuppressant drugs regionally can be segmented into Latin America, North America, Asia Pacific, Europe, and Rest of the World. The contribution of these regions to the expansion of the organ transplant immunosuppressant drugs market is discussed below:
North America: This region holds the largest share of the global organ transplant immunosuppressant drugs market. According to the statistics provided by the WHO, in 2013, the U.S. market for organ transplant immunosuppressant drugs was considered as the most lucrative market owing to the increased number of kidney transplant surgeries taking place every year, followed by liver and heart transplant.
Europe: The organ transplant immunosuppressant drugs market in this region recorded a steady growth in recent years. Nevertheless, the imbalance between the supply and demand for organ transplant is expected to hamper the growth of this market in the next few years.
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Asia Pacific: China has accounted for the largest share of the Asia Pacific market. The booming medical tourism industry in many countries of Asia Pacific, coupled with affordable treatment offered by these countries, is fuelling the Asia Pacific market for organ transplant immunosuppressant drugs. On the other hand, the growing prevalence of infection after an organ transplant is likely to curb the growth of this market in the next few years.