Dublin, Aug. 10, 2021 (GLOBE NEWSWIRE) -- The "Global Heart Transplant Devices Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global heart transplant devices market is estimated to be valued at US$12.771 million in 2019. Heart Transplantation is a procedure that uses a healthy heart to replace a diseased or damaged heart so that its normal functioning in the human body is restored. The heart transplant treatment is usually carried out on patients who have a possibility of end-stage heart failure or on those who have failed other treatment options. A heart before being implanted can stay alive for less than six hours and is stored on ice. Therefore, to overcome this time constraint, TransMedics, Inc. developed a Heart Transplant Devices (Heart-in-a-box) which is exactly a prototype of a functioning heart's surroundings and conditions. It is an organ-preservation system that allows the donor heart to continue functioning outside the body while the heart is being transported. It has proved to be a boon to the heart transplantation devices market.
The major key driver of the market is the surge in the number of lifestyle diseases in people especially in developed countries, which will prove to be an excellent source of high revenue generation for this market. In addition, the surge in the number of patients being diagnosed with heart diseases will further proliferate the market growth. According to Healthline, in the United States, in 2018, 30.3 million adults were diagnosed with heart diseases, and every year 6,47,000 Americans die due to heart-related diseases, making it the leading cause of death in the country. The adoption of Heart Transplant Devices can prove to be a life-saving device for the increasing number of heart patients, globally. The heart transplant devices can also be used while carrying out various surgeries and treatments such as coronary artery bypass grafting, arrhythmia treatment, aneurysms repair, placement of ventricular assist devices or total artificial hearts, etc. apart from heart transplants, which will further support the market growth of the heart transplant devices market.
Geographically, North America and Europe are expected to hold a notable market share owing to the increasing number of heart transplants taking place in the region. Countries like Germany and France have the highest number of heart transplants being taking place. Further, Asia-Pacific region is projected to witness significant market growth due to the rapidly increasing population and lifestyle diseases in the people.
Growth Factors
- Increasing incidence of cardiovascular diseases in people
The number of patients suffering from cardiovascular diseases (CVD) across the globe has been on a constant rise. The constant increase in the numbers is likely to increase the demand for treatment and surgeries related to the heart, which in turn, will propel the demand for heart transplant devices s. According to the American Heart Association, in the United States in 2019, coronary events are expected to occur in about 1,055,000 individuals, including 720,000 new and 335,000 recurrent coronary events. The increasing incidence of cardiovascular diseases in people is driving the growth of the market during the forecast period.
Restraints
- Lack of awareness
Not many hospitals, Laboratories, Cardiac Institutes, research centers are aware of the heart transplant box, created by TransMedics, Inc. as it is a relatively new experiment. There is a lack of awareness amongst the end-users using this technology, which may restraint the market growth. Also, there is a lack of preservation of organ options in the market. The end users do not have a variety to choose from which may further hamper the market growth.
Competitive Insights
The market leaders for the Global Heart Transplant Devices Market include TransMedics, Inc., Syncardia Systems, LLC, Calon Cardio Technologies, Apaxis Medical, Inc., and Medtronic PLC. The key players in the market implement growth strategies to gain a competitive advantage over their competitors and to remain the market leaders. For Instance, in June 2021, TransMedics, Inc., has worked towards getting premarket approval from FDA, regarding the application for the OCS Liver System being developed by them.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Heart Transplant Devices Market Analysis, By Device
5.1. Introduction
5.2. Ventricular Assist Device
5.3. Heart-Lung Machine
6. Global Heart Transplant Devices Market Analysis, By Patient's Age
6.1. Introduction
6.2. Less than 60
6.3. Greater than 60
7. Global Heart Transplant Devices Market Analysis, By Geography
7.1. Introduction
7.2. Americas
7.3. Europe Middle East and Africa
7.4. Asia Pacific
8. Competitive Intelligence
8.1. Competitive Benchmarking and Analysis
8.2. Recent Investment and Deals
8.3. Strategies of Key Players
9. Company Profiles
9.1. TransMedics, Inc.
9.2. Syncardia Systems, LLC
9.3. Calon Cardio Technologies
9.4. Apaxis Medical, Inc.
9.5. Medtronic PLC
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