Overview and Scope
A heart transplant is a medical operation that involves removing and replacing a damaged or diseased heart with a healthy donor heart. It is a complex and life-saving medical intervention for individuals with end-stage heart failure or certain severe heart diseases.
Sizing and Forecast
The heart transplant market size has grown rapidly in recent years. It will grow from $10.4 billion in 2023 to $11.49 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to medical advancements, increased awareness and education, advancements in organ preservation, healthcare infrastructure.
The heart transplant market size is expected to see strong growth in the next few years. It will grow to $16.45 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to government support and funding, globalization of transplant programs, increasing transplant center capacity, integration of telemedicine and remote monitoring. Major trends in the forecast period include technological advancements, artificial heart and assist devices, artificial intelligence (ai) in donor organ selection.
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Segmentation & Regional Insights
The heart transplant market covered in this report is segmented –
1) By Surgery Type: Total Artificial Heart; Biventricular Pacing; Ventricular Assist Devices; Other Surgery Types
2) By Transplant: Autograft; Allograft; Other Transplants
3) By End-User: Hospitals; Cardiac Institutes; Other End-Users
North America was the largest region in the heart transplant market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in heart transplant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The prevalence of cardiovascular diseases is expected to propel the growth of the heart transplant market going forward. Cardiovascular diseases are a range of conditions that affect the heart and blood arteries. A heart transplant is a last-resort treatment for people with end-stage heart failure who have not responded to other treatments. It improves quality of life and extends life expectancy. For instance, in March 2022, according to the Office for National Statistics, a UK-based national statistical authority, the number of deaths due to heart attacks was 20,061 in 2021, increasing from 19,440 in 2020. Further, in May 2023, the Centers for Disease Control and Prevention., a US-based national public health agency, reported that in the US, 1 in 20 adults age 20 and older have cardiovascular diseases, and 695,000 people were suffering from cardiovascular diseases in 2021 and 375,476 people died with cardiovascular diseases that same year. Therefore, the prevalence of cardiovascular diseases will drive the heart transplant market.
Key Industry Players
Major players in the heart transplant market are Optum Inc., Novartis Pharmaceuticals UK Ltd., Abbott Laboratories, Medtronic PLC, Stryker Corporation, Roche Diagnostics Ltd., Mayo Clinic, Cleveland Clinic, AstraZeneca PLC, Massachusetts General Hospital, Terumo Corp., NewYork-Presbyterian Hospital, Cedars-Sinai Medical Center, Maquet Holding B.V. and Co. KG., Teleflex Inc., Stanford Health Care, Johns Hopkins Hospital, Thoratec Corporation, Abiomed Inc., Baylor St. Lukes Medical Center, Transonic Systems Inc., Berlin Heart GmbH, HeartWare International Inc., SynCardia Systems LLC., Carmat SA, BiVACOR Inc., Apaxis Medical Inc., Calon Cardio-Technology Ltd., CardiacAssist Inc., The Texas Heart Institute.
The heart transplant market report table of contents includes:
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