Artificial Heart Market Trends 2017-2025
Global Artificial Heart Market: Overview
An artificial heart (or more specifically total artificial heart) can be considered as a prosthetic device implanted into the body to replace the organic mammalian heart. The synthetic replacement in humans acts as a type of mechanical circulatory support system wherein the patient’s native valves as well as ventricles are explanted. The device is usually powered pneumatically. Artificial heart is considered in many ways a technology marvel in clinical history, notwithstanding the many limitations pertaining to functionalities, and is usually used in case of patients suffering end-stage biventricular heart failure awaiting transplantation. In addition, artificial heart is also in demand for patients for whom heart transplantation surgery may not be appropriate. However, they are still to garner noticeable traction in the medical sector, with the implantation done only in a small subset of patients requiring transplantation.
The market for artificial heart is gathering momentum in various parts of the globe, especially in developing and developed nations. With technology advances, artificial heart implantation is increasingly being recommended as a potential treatment in biventricular heart failure.
The report offers evidence-backed insights about the prevailing market dynamics and emerging trends that help assess the potential of the market over the forecast period of 2018–2026. The quantitative and qualitative analyses offered in the study helps in ascertaining the various trajectories of key market segments and assists companies in strategy formulation.
Global Artificial Heart Market: Trends and Opportunities
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The rise in global burden of cardiovascular diseases, together with its growing mortality in an aging population, is a key factor underpinning the swift expansion of the artificial heart market. The rising volume of global patient population with end-stage heart failure, including congestive heart failure, coupled with the paucity of transplants available is a crucial factor bolstering the demand for artificial heart. Together with various cardiac-assist devices, artificial heart plays a vital clinical role in managing end-stage heart failure in worldwide patient population. Furthermore, artificial heart is also emerging as a viable option for patients with acute biventricular dysfunction.
Relentless efforts made by researchers and substantial development activities by device makers are focused on increasing the durability of mechanical circulatory support. This has a direct bearing on improving the functionality of these synthetic heart replacement. The lack of timely availability of heart donors is also a key aspect catalyzing the demand for artificial heart implantation.
Several concerns inhibit the commercialization of artificial hearts. The key factor is limited durability and longevity marred by faults, either in membrane or power source. Nevertheless, constant advances being made in design and functionality will expand the therapeutic potential of artificial hearts. Growing number of clinical trials to evaluate the role of total artificial heart as destination therapy in patients who have life-threatening biventricular heart failure is likely to augur well for the expansion of the market.
Global Artificial Heart Market: Regional Outlook
The study presents a comprehensive assessment of regional market dynamics and highlights emerging opportunities and lucrative avenues into which market players can tap into. Some of the key regional markets could be North America, Europe, and Asia Pacific. Developed nations with vast appetite for technology marvels in the medical sector are expected to pose as attractive avenues over the assessment period. Several of them are anticipated to witness rise in government funding to support technology development for artificial hearts
Global Artificial Heart Market: Competitive Landscape
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The report offers a granular assessment of the prevailing competitive landscape and emerging dynamics over the forecast period. To this effect, it takes a closer look at various strategies adopted by top players to consolidate their positions. The study also offers a critical evaluation of the intensity of the competition and the factors shaping the landscape. Numerous makers of artificial hearts in developed nations are also getting substantial backing by venture capital firms to accelerate the launch of their products. Such collaborations are likely to influence the overall strategic dynamics of the market in the coming years.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on: Market segments and sub-segments Market trends and dynamics Supply and demand Market size Current trends/opportunities/challenges Competitive landscape Technological breakthroughs Value chain and stakeholder analysis
The regional analysis covers: North America (U.S. and Canada) Latin America (Mexico, Brazil, Peru, Chile, and others) Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg) Eastern Europe (Poland and Russia) Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand) Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report: A complete backdrop analysis, which includes an assessment of the parent market Important changes in market dynamics Market segmentation up to the second or third level Historical, current, and projected size of the market from the standpoint of both value and volume Reporting and evaluation of recent industry developments Market shares and strategies of key players Emerging niche segments and regional markets An objective assessment of the trajectory of the market Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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