Organ Care System Market for Heart growing at a CARG of 16.5%, GloballyDownload Sample Reports Overview
According to a study, Organ Care System Market for Heart by Research Dive, the market was accounted for $11.0 million in 2018, is anticipated to reach $37.2 million by the end of 2026, at a CAGR of 16.5%.
The global organ care system market for heart is majorly driven by increasing the number of patients suffering from cardiovascular diseases. The common problem for cardiovascular disease is due to heart failure. According to the World Health Organization (WHO), 17.9 million people around the world are suffering from cardiovascular diseases every year, and 37% of deaths are occurring. In such cases, heart transplantation is the only solution, which will be a major driving factor for this market. In addition to this, alcohol consumption and tobacco usage are increasing regularly among people, and they leads to heart strokes and heart attacks. This will also provide a significant boost to the organ care system heart market size during the projected period.
Treatment cost for heart transplantation, coupled with the shortage of organ availability for conducting transplantation will hinder the organ care system market for heart. This is creating a huge wait time for the new receivers for heart transplantation, and this will also act as a significant restraint for this market to grow. Various governing bodies are taking initiatives in order to create awareness among the people about organ donation, for example, the National Organ Transplant Program in India and a nonprofit organization in the U.S. Donate Life America are significantly creating awareness among the people about the organ donation and their benefits.
The OCS market for heart is categorized into two types, based on mode of handling, trolley and portable type. Portable organ care systems’ segment is expected a robust growth in the coming years and projected to reach $4.7 million by 2026, growing at a rate of 18.0%, owing to its portability. Trolley organ care system is estimated to reach $6.3 million and at 15.3% CAGR.
Asia-Pacific organ care system market for heart will witness substantial growth during the forecast time period, and is projected to account for $4.6 million by 2026, at a CAGR of 12.0%. This is due to the growing initiatives from government in the developing countries of this region, such as the execution of organ transplantation and conducting organ donation awareness programs in Asia-Pacific countries. Moreover, OCS heart market in Europe is expected to account for $6.5 million, at a growth rate of 11.0% by the end of 2026. This is due to growing the market participants.
North American Organ Care System Market:
North America dominated the global market of Organ Care System Market and registered for $5.2 million in 2018, is estimated to grow in the coming years, and projected to reach $22.2 million by 2026, at 22.0% CAGR. This is owing to the majority of the key participants in this region.
Advancements and Key Players in organ care system market for Hearth:
Paragonix Technologies Inc., and TransMedics Inc., are the major key players in the global organ care system market. The key participants are concentrating on advancements in new technology, upgradation of available technologies and introducing new products. In March 2019, Paragonix Technologies demonstrated “Paragonix SherpaPak Cardiac Transport System” at the International Society for Heart and Lung Transplantation (ISHLT), 2019 annual meeting. This is an organ storage system and organ can be stored up to 4 hrs.