PUBLISHER: The Business Research Company | PRODUCT CODE: 1415714
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415714
“Heart Transplant Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on heart transplant market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for heart transplant? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The heart transplant market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A heart transplant is a sophisticated surgical procedure in which a damaged or diseased heart is removed and replaced with a healthy donor heart. This intervention is crucial and can be life-saving for individuals suffering from end-stage heart failure or specific severe heart conditions.
There are several types of heart transplant surgeries, including total artificial heart, biventricular pacing, ventricular assist devices, and other specialized procedures. A total artificial heart is a mechanical device specifically engineered to take over the functions of both the left and right ventricles of the natural human heart. This category encompasses various transplant techniques like autografts, allografts, and others. The primary recipients of these procedures are hospitals, cardiac institutes, and other specialized medical facilities.
The heart transplant market research report is one of a series of new reports from The Business Research Company that provides heart transplant market statistics, including heart transplant industry global market size, regional shares, competitors with a heart transplant market share, detailed heart transplant market segments, market trends and opportunities and any further data you may need to thrive in the heart transplant industry. This heart transplant market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The heart transplant market size has grown rapidly in recent years. It will grow from $10.4 billion in 2023 to $11.49 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to medical advancements, increased awareness and education, advancements in organ preservation, healthcare infrastructure.
The heart transplant market size is expected to see strong growth in the next few years. It will grow to $16.45 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to government support and funding, globalization of transplant programs, increasing transplant center capacity, integration of telemedicine and remote monitoring. Major trends in the forecast period include technological advancements, artificial heart and assist devices, artificial intelligence (ai) in donor organ selection.
The increasing prevalence of cardiovascular diseases is expected to drive the growth of the heart transplant market in the coming years. Cardiovascular diseases encompass a range of conditions that affect the heart and blood arteries. A heart transplant serves as a last-resort treatment for individuals in end-stage heart failure who have not shown improvement with other forms of treatment. It brings about an enhancement in quality of life and an extension of life expectancy. For instance, in March 2022, data from the Office for National Statistics, a UK-based national statistical authority, indicated that the number of deaths resulting from heart attacks increased from 19,440 in 2020 to 20,061 in 2021. Furthermore, in May 2023, the Centers for Disease Control and Prevention, a US-based national public health agency, reported that in the US, 1 in 20 adults aged 20 and older were affected by cardiovascular diseases. Additionally, in 2021, 695,000 individuals were grappling with cardiovascular diseases, and tragically, 375,476 people lost their lives due to cardiovascular diseases in that same year. This underlines how the prevalence of cardiovascular diseases is poised to be a significant driving factor for the heart transplant market.year.
The heart transplant market is experiencing growth driven by an increased awareness of organ donation and transplantation. This awareness encompasses knowledge, understanding, and community consciousness regarding the processes, significance, and impact of these procedures in healthcare. This heightened awareness is playing a substantial role in the realm of heart transplants, leading to an expanded donor pool, reduced waiting times for recipients, and improved patient outcomes. For instance, in January 2023, the United Network for Organ Sharing, a US-based non-profit organization focused on science and education, reported a record of 42,887 organ transplants in the US in 2022, marking a 3.7% increase from the previous year. This included 9,528 liver transplants, 4,111 heart transplants, and 2,692 lung transplants, underscoring the impact of this growing awareness. Consequently, the surge in awareness about organ donation and transplantation is a key driver for the heart transplant market.year. This included 9,528 liver transplants, 4,111 heart transplants, and 2,692 lung transplant. Therefore, the growing awareness about organ donation and transplantation will drive the heart transplant market.
The escalating cost of treatment is anticipated to impede the growth of the heart transplant market in the foreseeable future. Heart transplantation is a costly procedure, necessitating a proficient medical team, extensive surgical infrastructure, and specialized equipment. The expenses associated with the surgical intervention and subsequent hospital stay can be substantial. For instance, data from the American Hospital Association, a US-based professional organization, indicates a 2.1% increase in hospital prices, including heart transplantations, over the year leading up to February 2022. Consequently, the mounting cost of treatment stands as a significant constraint in the heart transplant market.
Prominent industry leaders are focused on developing cutting-edge test and treatment technologies to maintain their market standing. A prime example is the Prospera Heart Transplant Assessment Test, a non-invasive blood test that gauges the quantity of donor-derived cell-free DNA (dd-cfDNA) present in the recipient's blood. This represents a significant stride in innovative medical assessments, promising enhanced accuracy and effectiveness in heart transplant evaluations. For instance, in August 2021, Natera Inc., a clinical genetic testing company based in the United States, introduced its Prospera heart transplant assessment test, designed for patients who have undergone heart transplantation. This groundbreaking test, after thorough validation and clinical release, marks a significant expansion of prospera technology's applications beyond kidney transplants. Natera draws on its extensive experience in conducting over three million worldwide cell-free deoxyribonucleic acid (cfDNA) tests. Notably, this test offers a non-invasive, all-in-one solution for evaluating acute rejection, thereby enhancing the diagnosis and management of this condition. It is also anticipated to lead to cost reductions in the care of heart transplant recipien.
In September 2021, Picard Medical Inc., a US-based medical device company, acquired SynCardia Systems LLC for an undisclosed amount. This strategic move is set to bolster Picard Medical's global presence and facilitate innovations in the field. Through this acquisition, the company seeks to reach a broader spectrum of patients worldwide and advance the development of cutting-edge technologies that have the potential to reshape the heart transplant market. SynCardia Systems LLC, based in the US, is a company known for its expertise in mechanical heart replacement technology.
Major players in the heart transplant market are Optum Inc., Novartis Pharmaceuticals UK Ltd., Abbott Laboratories, Medtronic PLC, Stryker Corporation, Roche Diagnostics Ltd., Mayo Clinic, Cleveland Clinic, AstraZeneca PLC, Massachusetts General Hospital, Terumo Corp., NewYork-Presbyterian Hospital, Cedars-Sinai Medical Center, Maquet Holding B.V. and Co. KG., Teleflex Inc., Stanford Health Care, Johns Hopkins Hospital, Thoratec Corporation, Abiomed Inc., Baylor St. Lukes Medical Center, Transonic Systems Inc., Berlin Heart GmbH, HeartWare International Inc., SynCardia Systems LLC., Carmat SA, BiVACOR Inc., Apaxis Medical Inc., Calon Cardio-Technology Ltd., CardiacAssist Inc., The Texas Heart Institute .
North America was the largest region in the heart transplant market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in heart transplant report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the heart transplant market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The heart transplant market includes revenues earned by entities by providing services such as patient evaluation and selection, waitlist management, donor heart procurement, transplant surgery, immunosuppression management, psychosocial support and complications management services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.