New York, USA, June 08, 2022 (GLOBE NEWSWIRE) -- According to the latest report published by Research Dive, the global organ care system market for heart is anticipated to rise at a stable CAGR of 16.5%, thereby garnering a revenue of $37.2 million by 2026. This comprehensive Research Dive report presents a brief outlook of the current framework of the organ care system market for heart including its priority features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2019-2026. The report also contains all the crucial market figures to help new entrants understand the market easily.
Dynamics of the Market:
Drivers: Since the last few years, there has been a substantial increase in the number of patients suffering from different types of cardiovascular diseases. This growing incidence of heart-related ailments is expected to boost the organ care system market for heart in the forecast timeframe. Moreover, rising number of heart transplantations and similar surgeries is predicted to drive the market further.
Opportunities: Rise in the number of government initiatives so as to increase the awareness regarding organ donation is expected to offer numerous growth opportunities to the organ care system market for heart. Apart from this, complex medical procedures like heart transplantations are expected to create investment opportunities in the market during the analysis timeframe.
Restraints: However, lack of awareness regarding organ donation may restrict the growth of the organ care system market for heart in the forecast period.
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Segments of the Market:
The report has fragmented the market into segments based on mode of handling and region.
Mode of Handling: Trolley Based Organ Care System Sub-segment to be the Most Lucrative
By mode of handling, the trolley based organ care system sub-segment is expected to have the most dominating market share and register a revenue of $19.5 million by the end of 2026. The main reason behind the growth of this sub-segment is that trolley based organ care system is the only device which has received approval from the United States’ Food and Drug Administration (USFDA).
Region: Market in the North America Region to Grow Rapidly
By regional analysis, the organ care system market for heart in North America region is predicted to grow rapidly in the 2019-2026 timeframe. It is expected to reach $22.2 million over the forecast period. The presence of key market players of this industry in this region as well as the high level of advancement in medical technology is predicted to be the main growth driver of the market in this region. Additionally, increase in the number of heart transplants in this region is estimated to push the market forward.
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Prominent Market Players:
Some leading players in the organ care system market for heart are TransMedics Inc. and Paragonix Technologies Inc., among others. These players are formulating numerous business strategies like mergers, acquisitions, and collaborations to get a commanding position in the market.
For instance, in September 2021, TransMedics Group Inc., a leading medical technology company, got approval from the USFDA for its OCS Heart System. With this approval, TransMedics group will now be able to support heart transplant patients in a more holistic way by utilization of donor hearts.
Finally, this comprehensive report also summarizes many crucial aspects of the organ care system market for heart including product portfolio, latest strategic developments, financial performance of the key players, and SWOT analysis.
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More about Organ Care System Market for Heart:
- This organ storage system can store a heart for additional 4 hours
- Organ Care Systems for Heart offers a helping-hand for Heart Patients during Coronavirus Pandemic
- New Product Launches & Strategic Collaborations to Propel the Growth of the Global Organ Care System Market for Heart by 2026
