The Global Heart Transport System – Competitive Landscape
Major players operating in the global heart transport systems market include, Paragonix Technologies, Inc., Organ Transport Systems, Pulse Heart Transportation System, and others. Key players in the market are focused on launching new heart transport systems in order to enhance their market share. For instance, in December 2018, Paragonix Technologies received approval from the U.S. Food and Drug Administration (FDA) for its Paragonix Sherp, a cardiac transport system.
Heart transport systems are devices used for maintenance and nourishment of heart while it is being transported from harvest in preparation for transplantation. Heart transportation is a highly critical process as the heart can only be preserved for around 4 hours in an ice box. Advanced transport systems such as LifeCradle product developed by Organ Transport Systems can preserve heart for 12 hours.
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The Global Heart Transport System – Market Dynamics
Increasing prevalence of cardiovascular diseases that often require heart transplant surgeries and government initiatives in funding for research and development in heart transplant surgeries are major factors driving growth of the global heart transport systems market. According to The International Society for Heart and Lung Transplantation, in 2014, around 586 heart transplant surgeries were performed worldwide. Increasing stress among the populace along with sedentary work, high fat intake, and congenital defects in heart also increase demand for heart transplant. This in turn boosts growth of the global heart transport systems market.
The Global Heart Transport Systems Market – Regional Insights
North America accounted for the largest share in the global heart transport systems market in 2017, owing to increasing number of people diagnosed with coronary artery disease, heart failure, and cardiomyopathy. According to the U.S. Pediatric Cardiomyopathy Registry, the annual incidence of cardiomyopathy in the U.S. was around 1.13 per 10, 00,000 children younger than 18 years of age. Europe accounted for the second largest share in the market in terms of revenue, owing to increasing research and development activities in heart transport systems. . Market in Asia Pacific is expected to witness the fastest growth, owing to increasing geriatric population in the region increases prevalence of cardiovascular disease. For instance, according to a report published by Asia Pacific Journal, in 2018, 7 out of 10 deaths are expected to cause due to cardiovascular diseases by 2020.
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Global Heart Transport System Market Taxonomy
On the basis of disease indication, the global heart transport systems market is segmented into:
- Heart Failure
- Cardiomyopathy
- Congenital Heart Defect
- Coronary Heart Disease
- Others
On the basis of end user, the global heart transport systems market is segmented into:
- Hospitals
- Cardiac centers
- Research centers
On the basis of geography, the global heart transport systems market is segmented into:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
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