An organ care system is a medical device or equipment that is specifically developed for preserving donor organs for a longer period. Organ care systems can take care of the organs till required for the transplantation and are designed to increase the timeline of the organs outside of the human body. The medical device offers considerable benefits to third party payers, physicians, and most importantly to patients.
Key Developments in the Industry
The companies operating in the global industry are adopting various growth strategies and business tactics such as product development, launches, approvals, and company collaborations to hold a leading position in the global industry, which is predicted to consequently help the organ care system market for heart to grow significantly in upcoming years.
For instance, in December 2019, TransMedics Group, Inc., a medical technology company, successfully completed the first adult human heart transplants from donation after circulatory death (DCD) donors in the U.S. at the Duke University Hospital & Massachusetts General Hospital. The transplants were made possible with the help of the company’s OCS Heart System. The OCS Heart System is being assessed for use in DCD heart transplants across various U.S. heart transplant centers.
In April 2021, TransMedics Group, Inc., a medical technology company involved in transforming organ transplant therapy for patients with end-stage liver, lung, and heart failure, announced the Circulatory Systems Device Panel (CSDP) convened by the U.S. FDA (Food and Drug Administration) has issued a positive vote in the support of the OCS Heart System’s approval to the FDA’s Office of Health Technology.
Forecast Analysis of Global Organ Care System Market for Heart
The global organ care system market for heart is projected to witness a striking growth during the forecast period, owing to the increasing measures taken by governments of various countries around the world related to organ donation. Conversely, the high cost of treatment and lack of awareness among people related to organ donation may hamper the market growth in the projected timeframe.
The rising number of patients with cardiovascular diseases and the increase in number of heart transplantations across the globe are the significant factors estimated to propel the growth of the global organ care system market for heart in the coming future. According to a latest report published by Research Dive, the global organ care system market for heart is expected to garner $37.2 million during the forecast period (2019-2026). Regionally, the North America region is estimated to hold largest share in the global market, mainly due to technological advancements and the presence of major key players in the region. The key players functioning in the global market include Paragonix Technologies Inc. and TransMedics Inc.