In the world economic growth, the Artificial Heart Industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Artificial Heart market size to maintain the average annual growth rate of XXX from XXX million $ in 2014 to XXX million $ in 2019, SMI analysts believe that in the next few years, Artificial Heart market size will be further expanded, we expect that by 2024, The market size of the Artificial Heart will reach XXX million $.
An artificial heart is a prosthetic device that replicates the functions of the biological heart. The artificial heart is used to bridge the time to heart transplantation and in some cases act as a permanent replacement to heart.
Increasing approval and launch of new products is expected to propel the growth of the global artificial heart market over the forecast period. For instance, in March 2020, SynCardia Systems, LLC received the U.S. Food and Drug Administration (FDA) approval for its 50cc temporary Total Artificial Heart (TAH) System as a bridge to heart transplant. Moreover, increasing the prevalence of cardiovascular diseases is also expected to aid in the growth of the market. For instance, according to the American Heart Association's Heart and Stroke Statistics 2019 Update, around 48% of all adults in the U.S. suffered from some type of cardiovascular disease in 2016.
Increasing number of heart transplant procedures are expected to propel the growth of the global artificial heart market over the forecast period. For instance, according to the Organ Procurement and Transplantation Network (OPTN)/ The Scientific Registry of Transplant Recipients (SRTR), in 2015, 2016, and 2019, the U.S. recorded over 30,000 transplants per year. Moreover, increasing demand for heat transplant is expected to offer lucrative growth opportunities for players in the global artificial heart market. For instance, according to the OPTN/SRTR 2018 Annual Data Report: Heart, the number of new active listings for heart transplant increased by 33.7%, from 2810 to 3756 between 2009 and 2018.
R&D in artificial heart is expected to boost the global artificial heart market. For instance, in June 2018, researchers from Lodz University of Technology, Poland, reported the development of artificial circulatory systems that simulated various ejection pressures, ejection volumes, and frequencies of pulsation.
Key Takeaways:
- Increasing number of heart transplant procedures to augment the growth of the global artificial heart market over the forecast period
- Major players in the market are focused on expanding their consumer base. For instance, in May 2018, SynCardia Systems, LLC announced that Saint Thomas Health become the first health system in Tennessee (U.S.) to offer the SynCardia temporary TAH as part of its cardiac treatment services.
- Major players in the market are also focused on adopting collaboration strategies to expand their product portfolio. For instance, in October 2019, BiVACOR, Inc. collaborated with NASA’s Johnson Space Center to improve the robustness and reliability of the company’s TAH system.
- Major players operating in the global artificial heart market include SynCardia Systems, LLC, BiVACOR, CARMAT, Abbott Laboratories, Cleveland Heart, AbioMed, Jarvik Heart, MyLVAD, Cirtec Medical Systems, and Thoratec Corporation
This Report covers the manufacturers' data, including: shipment, price, revenue, gross profit, interview record, business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including market size, volume and value, as well as price data.
Besides, the report also covers segment data, including: type segment, industry segment, channel segment etc. cover different segment market size, both volume and value. Also cover different industries clients information, which is very important for the manufacturers. If you need more information, please contact SMI
Section 1: Definition
Section (2 3): Manufacturer Detail
╼ SynCardia Systems
╼ BiVACOR
╼ CARMAT
╼ Abbott
╼ Cleveland Heart
╼ AbioMed
╼ Jarvik Heart
╼ MyLVAD
╼ Cirtec Medical Systems
╼ Thoratec Corporation
Section 4: Region Segmentation
╼ North America Country (United States, Canada)
╼ South America
╼ Asia Country (China, Japan, India, Korea)
╼ Europe Country (Germany, UK, France, Italy)
╼ Other Country (Middle East, Africa, GCC)
Section (5 6 7): Segmentation
Product Type Segmentation:
╼ Ventricular Assist Device (VAD)
╼ Total Artificial Heart
Industry Segmentation:
╼ Hospitals
╼ Clinics
Channel (Direct Sales, Distributor) Segmentation
Section 8: Trend (2019-2024)
Section 9: Product Type Detail
Section 10: Downstream Consumer
Section 11: Cost Structure
Section 12: Conclusion
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