New York, USA, Sept. 08, 2021 (GLOBE NEWSWIRE) -- The latest report by Research Dive states that the global organ care system for heart market is predicted to witness a rise in revenue from $11.0 million in 2018 to over $37.2 million by 2026 at a steady CAGR of 16.5% from 2019-2026.
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Market Analysis
Growth: The drastic changes in lifestyles which includes unhealthy habits such as smoking, sedentary lifestyle along with an unhealthy diet has led to people facing several illnesses such as increased blood pressure and cholesterol levels. Many people today are subjected to severe heart diseases such as heart strokes and heart attacks, which are a result of the body reacting to a toxic lifestyle including excessive consumption of alcohol. The only treatment option available in situation where an individual needs immediate attention is a heart transplant. These factor have led to the rapid growth of the OCS heart market.
Restraints: Though a heart transplant is the most effective treatment option available, the cost of it is extremely high. Additionally, the most patients require a replacement organ that is a perfect match which may sometimes be difficult to procure. At the same time, healthcare professionals also provide a timeline within which the donor organ needs to be made available which is expected to limit the growth of the market.
Opportunities: A majority of deaths are commonly caused due to cardiovascular illnesses and one of the primary treatment methods used for patients is heart transplant. There have been multiple initiatives by governments around the world to help raise awareness among people about organ donation and its role in treating people. This along with the fact that there has been a tremendous increase in the number of people being diagnosed with heart disease has helped propel the growth of the OCS for heart market. These factors along with the increasing heart transplants being performed by healthcare professionals is expected to provide a growth opportunity for the global market.
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Segmental Analysis
The market is segregated into multiple segments based on mode of handling and region.
Trolley Based Sub-Segment to Dominate the Market
The trolley based sub-segment is anticipated to dominate the market with a rise in revenue from $6.3 million in 2018 to over $19.5 million by 2026. This method of transporting the donated organ was first launched by TransMedics and was the only method approved by the U.S Food and Drug Administration (FDA). Over time, it gained prominence in the market for its easy handling as well as portability. These factors led to the growth of the sub-segment in the forecast period.
Regional Analysis
The North American region is projected to dominate the market with a tremendous rise in revenue from $5.2 million in 2018 to over $22.2 million by 2026. This growth is primarily credited to the rising number of heart transplants taking place in the country which have in turn led to an increase in demand for donor organs. To add further, the several initiatives by experts in the industry along with rapid developments in the healthcare technology are further expected to assist in the growth of the regional market in the analysis period.
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Key Market Players
The report contains a list of notable market players who have been ensuring the constant growth of the market. They are as listed below:
- TransMedics, Inc
- Organ Transport Systems, Inc
- Organ Recover Systems, Inc
- OrganOx Limited
- Transplant Biomedical
- Organ Assists BV
- XVIVO Perfusion AB
- Paragonix Technologies, Inc
- Water Medical Systems, LLC
- Bridge to Life, Ltd.
The report provides an insight into the various initiatives by the industry experts such as mergers, partnerships & collaborations, and product launches.
In July 2021, Paragonix Technologies, an expert in organ preservation, launched a new global registry meant primarily for pediatric donor heart preservation. It was first implemented by the University of Florida after they switched from using traditional ice coolers to using the Paragonix SherpaPak Cardiac Transport System. This system uses a hypothermic preservation method which allows the organ to be protected from external factors.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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