Global Heart Transplant Market is expected to grow at a CAGR of 11.72% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Heart Transplant Market by Surgery Type (Ventricular Assist Devices, Total Artificial Hearts, others), End User, Regions, and Global Forecast 2018-2025.
As per the report, the global heart transplant market is expected to grow from USD XX.XX Million in 2017 to USD XX.XX Million by 2025, at a CAGR of 11.72% during the forecast period from 2018-2025. North America emerged as the largest global heart transplant market with a XX.XX% share of market revenue in 2017, followed by Europe. Whereas Asia Pacific region is projected to progress at the highest CAGR of 14.06% over the forecast period.
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Major players in the global heart transplant market are SynCardia Systems, LLC, HeartWare International Inc, Apaxis Medical, Inc, Calon Cardio, Optum Inc, Thoratec Corporation, CardiacAssist Inc, CARMAT, Corwave SA, ABIOMED, Inc, Abbott Laboratories, Berlin Heart GmbH, CareDx, Inc, Medtronic, among others. Major firms are increasingly focusing on collaborations for research and development of newer, improved, heart transplant assist devices. For instance Calon Cardio in 2017, announced the clinical trials of its MiniVAD, a Left Ventricluar Assist Device. It was developed by a Calon Cardio’s joint collaboraton venture with University of Swansea, UK. MiniVAD is a miniature implantable heart pump which can be used to treat advanced chronic heart failure, with the LVAD augmenting the weakened heart and providing adequate blood perfusion to the rest of the body.
Surgery type is segmented into ventricular assist devices, total artificial hearts and others. A ventricular assist device (VAD) is a mechanical pump that’s used to support heart function and blood flow in people who have weakened hearts. In case of suitable heart donor being not available, ventricular assist devices are implanted to buy some precious time until the donor is available. Thus ventricular assist segment led the global heart transplant market with a 48.82% share of market revenue in 2017. Due to lack of suitable donors, replacing a failing heart with the total artificial heart is the only way to eradicate the symptoms and source of terminal-stage heart failure. Owing to these aforementioned factors, Total artificial heart segment is projected to grow at the highest CAGR of 13.98% over the forecast period. End user is divided into hospitals, cardiac institutes and others. As hospitals generally are the first call of resorts in case of cardiac arrests, hospitals segment emerged as a dominating end user segment with a XX.XX% share of market revenue in 2017. Rising investment on developing research and treatment facilities that are specifically dedicated to cardiovascular diseases, is the factor which is anticipated to propel cardiac institutes segment to grow at the highest CAGR of 13.73% over the forecast period.
Even though factors such as rising prevalence of cardiovascular devices and improvement in healthcare facilities as well as growing investment on research and development activities are driving the global heart transplant market. Lack of adequately skilled surgeons and high treatment cost are anticipated to dampen the market growth.
About the report:
The global heart transplant market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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