The organ care system market for heart is predicted to experience striking growth by 2026, owing to the increasing incidences of cardiovascular diseases among individuals globally. Regionally, the North America region is expected to be dominant.
NEW YORK, Jan. 24, 2023 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Organ Care System Market for Heart, by Mode of handling (Portable, Trolley), Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2019-2026".
According to the report, the global organ care system market for heart is envisioned to garner a revenue of $37.2 million and rise at a healthy CAGR of 16.5% over the analysis timeframe 2019-2026.
Dynamics of the Organ Care System Market
With the increasing number of patients suffering from cardiovascular diseases, the organ care system market for heart is predicted to observe remarkable growth of the market during the estimated period. Besides, the rising number of heart transplants due to the increasing number of smokers, high consumption of alcohol, unhealthy diet, lack of physical activity, and many more is further expected to fortify the growth of the market over the analysis period. Moreover, the growing government initiatives to increase awareness about organ donation are predicted to create immense investment opportunities for the market during the forecast period. However, the lack of awareness about organ donation and high treatment costs may hinder the growth of the market throughout the estimated period.
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Segments of the Organ Care System Market for Heart
The report has divided the market into segments based on the mode of handling and region.
- By mode of handling, the trolley-based sub-segment is predicted to be the most productive and is expected to generate a revenue of $19.5 million during the forecast timeframe. The increasing prominence of trolley based system due to its easy handling and portability is expected to upsurge the growth of the market sub-segment over the estimated period.
- By region, the North America region of the organ care system market for heart is expected to hold the largest share of the market and is projected to garner a revenue of $22.2 million during the analysis timeframe. This is mainly due to the strong presence of leading players and advanced healthcare technology in this region. Moreover, the increasing number of heart transplants in the region is expected to drive the regional growth of the market over the estimated period.
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Key Players of the Market
The major players of the organ care system market for heart include
- Paragonix Technologies Inc.
- TransMedics Inc.
These players are widely working on the development of new business strategies and tactics such as mergers and acquisitions, partnerships and collaborations, and product development to obtain a leading position in the global industry.
For instance, in September 2021, TransMedics Group, Inc., a commercial-stage medical technology company transforming organ transplant therapy for end-stage organ failure patients across multiple disease states announced that the U.S. Food and Drug Administration (FDA) has approved its OCS heart system for the use of organs from donors after brain death.
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Further, the report also summarizes other important aspects including SWOT analysis, the financial performance of the key players, product portfolio, and the latest strategic developments.
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