Heart Transplant Market Analysi and Cost Structure Till 2027
Overview:
Technological advancement in the healthcare sector has empowered doctors with previously unimaginable medical procedures. One such deal with heart transplant. Heart Transplant Market is experiencing a sudden boost due to the transforming associated market. The process involves the removal of a diseased heart and replacement of it with the heart of a deceased person. This process increases life expectancy by years and is revolutionary in its own accord. The global heart transplant market can experience a robust CAGR of 11.2% during the forecast period (2017-2023), claims Market Research Future (MRFR) in an extensively studied report. It further includes a detailed analysis of drivers and segments to have a better prediction for the future market. Among the drivers, poor heart condition owing to cough-especially at night, poor exercise tolerance, shortness of breath, fatigue, and fluid retention can be considered primarily.
However, the procedure is quite expensive and the availability of heart at the right moment is one big factor that is controlling the market. This can hold back the market growth during the forecast period.
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Industry Trend:
Heart in a box is new equipment that allows the heart to stay alive for a longer duration. It helps the heart in avoiding cell damages even after the heart’s removal from the body and will enable it to function appropriately until it gets transplanted. This could increase the availability of donor’s hearts.
Researchers of Sensible Medical have come up with SensiVest which patients can wear anytime. The technology uses radar to scan bodily functions and detect malfunctioning of the heart before it the heart gives up.
Segmentation:
The global heart transplant market can be segmented by types and end-user.
Based on types, the heart transplant market is segmented into ventricular assist devices, total artificial hearts, and others.
Based on end-user, the heart transplant market is segmented into hospital, cardiac institute, and others.
Regional Analysis:
Region-specific analysis of the heart transplant market includes the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas is currently leading the market from the front with well-developed technology to back up its progress. High healthcare spending and substantial funding from the government are reasons behind the regional growth. Private investment is also impacting the market significantly. According to the International Society for Heart and Lung Transplantation in 2016, around 444 people up to age 17 got their heart transplanted in the U.S. alone.
Europe assumes the second position with governments increasing their healthcare expenditure by significant margins. The market is getting driven by investments made by France and Germany.
The APAC is experiencing a complete upheaval. The region is experiencing exponential growth in the healthcare sector owing to countries such as India emerging as a medical tourism hub and are investing heavily in the industry.
However, the MEA is only going to register a nominal growth due to the poor socio-economic condition of the region.
Competitive Landscape:
New tactical procedures are getting implemented all the time by major players who wish to take the market forward. They employ tested moves mostly such as merger, acquisition, collaboration and others. Smart moves often come in shape of innovation in the launching of products. Calon Cardio is all set to roll out their Left Ventricular Assist Device (LVAD) which can assist patients with a critical heart condition and is expected to impact the market.
Prominent players influencing the heart transplant market are SynCardia Systems, LLC, HeartWare International Inc., Apaxis Medical, Inc., Calon Cardio, Optum Inc., Thoratec Corporation, CardiacAssist Inc., CARMAT, and others.
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