Heart Transplant Market Expected To Reach At A Highest Growth During Forecast Period
The advancement of effective drugs ascended the success rate of heart transplants to further heights allowing the heart transplant market to witness upsurge. Another predominant factor that contributes to the market growth is the growing prevalence of heart failure and severe coronary artery diseases across the globe.
Acknowledging the numerous innovations transpired in the heart transplant market and the surging traction the market is garnering currently Market Research Future (MRFR) in its recently published study report asserts that the global the Heart Transplant Market Revenue is projected to perceive booming accruals by 2023, registering a striking CAGR during the estimated period (2017 – 2023).
The advancements in surgical techniques, immunosuppressive modalities, and postoperative care along with the growing prevalence of heart failures and heart-related diseases are boosting the revenues in the market. In recent years, lower availability of donors has prompted significant investments in R&D activities to invent advent technologies and new surgical techniques. These investments, in turn, are defining the immense growth landscape of the heart transplant market.
The heart transplant market will gradually subside within a decade with the emergence of artificial pumps and stem cell therapy that will replace the heart transplant. Until then the market will witness its heydays. Simultaneously, insufficient availability of suitable donor’s pool and the complications of a heart transplant such as chances of rejection which basically is immune system’s attacks on transplanted heart, are some of the challenges the market is facing currently. Nevertheless, the emergence of new powerful Immunosuppressive Medications that can control the rejection issues ruling out further chances of acute rejection of the organ will, in turn, support the growth of the heart transplant market. Moreover, the emergence of the Endomyocardial Biopsy coupled with the new high-tech analysis is expected to boost the growth of the Heart Transplant market.
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Heart Transplant Market – Segments
The MRFR analysis is segmented into three key dynamics for enhanced understanding.
By Surgery Types : Comprises – Ventricular Assist Devices, and Total Artificial Hearts among others.
By End Users : Hospitals, Cardiac institutes, Research Centers, and laboratories among others.
By Regions : North America, Europe, APAC, and the Rest-of-the-World.
Heart Transplant Market – Regional Analysis
Globally, North America region accounts for the largest heart transplant market which is estimated to be the major revenue pocket during the review period. The U.S. with its largest number of heart transplants performed (approx. 1700 annually) accounts for one of the major revenue generators in the global market.
Additional factors contributing towards the growth of the market in the region are, increased incidence of heart diseases, technological advancements transpired in the medical sector, increased research & development activities, etc. Besides, rising procurement of transplant diagnostic instruments among medical facilities supports the market growth in the region.
The Europe heart transplant market accounts for the second-largest market, globally owing to the initiatives undertaken by the government and availability of funds. The market is expected to increase steadily throughout the forecast period. Also, huge investments transpired in the healthcare domain are fostering the growth of the market in the region.
The Asia Pacific region is too emerging as one of the promising markets for the heart transplants, growing rapidly. The market is predominantly growing due to the burgeoning medical tourism market in the region. Equipped with the state-of-the-art healthcare infrastructure and flocked with skilled cardiac surgeons, the APAC heart transplant market has improved its reliability for good results.
Heart Transplant Market – Competitive Analysis
The well-established players operating in the highly competitive global market for heart transplant incorporate strategies such as collaboration, acquisition, partnership, technology launch, and expansion, in order to gain the competitive edge in this market.
They also invest substantial funds in R&D and clinical trials to develop effective heart transplant program which is comprehensive, advanced and state-of-the-art. Some hospitals strive to provide tailor-made transplant surgeries based on the ailments, age, and other complications. With advanced diagnostics, and comprehensive rehabilitation schedule these hospitals ensure that patients have access to the best care at every stage of the transplant journey.
The fervent players leading the global heart transplant market include SynCardia Systems, LLC, Apaxis Medical, Inc., HeartWare, Calon Cardio, Thoratec Corporation, and Optum Inc.
Industry/ Innovation/ Related News:
March 9, 2018 – CareDx, Inc. (US), a molecular diagnostics company focused on the discovery, development, and commercialization of clinically differentiated, high-value diagnostic solutions for transplant patients launched Heartcare, a comprehensive diagnostic solution for surveillance of heart transplant patients, combining AlloMap with AlloSure-Heart.