New York, USA, Sept. 21, 2021 (GLOBE NEWSWIRE) -- According to a recent report by Research Dive, the global organ care system for heart market is forecasted to reach $44.02 million by the end of 2026 at a CAGR of 19.4%, increasing from $10.97 million in 2018. The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Impacting the CAGR Figures Pre and during COVID-19
The report reveals the real-time CAGR registered by the market during the pandemic. According to the report, the organ care system for heart market has recorded a CAGR of 19.4% during recent months, while it was estimated to be 16.6% in the pre-pandemic scenario. The main factor behind this growth is the severe respiratory conditions among the COVID-19 patients. The demand of organ care system has been increased during the pandemic as corona virus mainly affects the heart in an infected body. This factor has enhanced the growth of the global organ care system for heart during the forecast period.
Portable Mode of Handling Segment has Dominant Market Share
Based on mode of handling, the overall market is segmented into portable and trolley based handling. Among these, portable mode of handling dominated the market in the year 2018 and is expected to register for $20.97 million in 2026.
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Portable mode of handling organ system for heart is gaining attention owing to several advancements in the portable handling method such as reduced risk of hypoxic injuries during storage and decrement in anaerobic glycolysis, which will accelerate the growth of the market in the projected time.
Factors Impacting the Revenue before and after the Pandemic
According to the report, the real-time market size has been increased compared to the pre-COVID-19 estimations. The real-time market has generated a revenue of $15.6 million, while it was estimated to be $14.8 million in a pre-COVID analysis. The main factor behind this growth is that the patients suffering from heart conditions are vulnerable for acquiring COVID-19 infection.
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Key Players and Strategies
The most significant players of the global organ care system for heart market include
- Organ Assists BV
- Organ Transport Systems Inc.
- XVIVO Perfusion AB
- TransMedics Inc.
- Paragonix Technologies Inc.
- Organ Recover Systems Inc.
- Water Medical Systems LLC
- OrganOx Limited.
- Bridge to Life Ltd.
- Transplant Biomedical
and many more. These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in July 2020, Paragonix Technologies, Inc., a manufacturer of organ transportation device, announced the staging of new clinical data at the American Transplant Congress (ATC) regarding the successful use of the Paragonix SherpaPak™ Cardiac Transport System (CTS) for high-risk donor hearts. The conference was held at the Medical University of Vienna – Allgemeines Krankenhaus Wien (Vienna, Austria), a leader in European heart transplant center.
Post Pandemic Insights
The report has stated that the global market of organ care system for heart will be experiencing growth even after the pandemic. This is because of the increasing cases of cardiac diseases due to smoking and drinking habits among the young population. Moreover, the government is also contributing to the growth of the market by investing huge amounts of money in the research and development projects of the market.
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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