Report Code: A11663 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Heart Transplant Market
Request Now !A heart transplant is a surgery done to treat most serious cases of heart diseases. It is a treatment option for patients who are on the verge of heart failure and is often needed when lifestyle changes, medications, and less invasive procedures have not succeeded. Heart transplant surgery usually lasts for four hours during which a patient is placed on a heart-lung machine that keeps blood circulating in the body. Surgeon removes patient's heart, leaving back wall of the left atrium and pulmonary vein opening intact. This helps prepare patient to receive donor's heart. Once the donor's heart is stitched into place the heart begins beating in the patient's body.
Impact of COVID-19 on the Medical Device Market
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
There has been an increase in the demand for medical supplies to take care of the infected population. Respiratory support devices such as atomizers, life support machines, oxygen generators, and monitors are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment, including masks, gloves, and protective eyeglasses. An increase has been witnessed in the need for medical supplies, both from healthcare professionals and the civil population for precautionary measures, owing to the rise in the number of COVID-19 cases worldwide. Manufacturers of these products have a chance to capitalize on this increased demand for medical supplies to ensure an adequate and continuous supply of personal protective equipment in the market.
With COVID-19 the supply chain of the raw material required to manufacture heart transplant devices has been disrupted in many countries. In addition, the market growth for heart transplant devices is also declining as the manufacturers of these devices have slowed down their production owing to the pandemic. Therefore, COVID 19 is expected to have a significant impact on the heart transplant market.
Top Impacting Factors
Key Market Trends
In May 2019, Pfizer, Inc. received an approval from the Food and Drug Administration (FDA) for Vyndaqel and Vyndamax drugs, which can be used to treat hereditary transthyretin-mediated amyloidosis or cardiomyopathy that can lead to heart failure.
In March 2018, CareDx, Inc. launched Heartcare. It is a comprehensive diagnostic solution that helps in surveillance of heart patients by combining AlloMap and AlloSure-Heart.
North America and South America dominate the global heart transplant market, owing to high healthcare spending, well-developed technology for heart transplants, and increase in support of governments for research and development of better heart transplant technologies.
Europe has the second position in the heart transplant market, owing to rise in government support for funding research and development activities aimed at launching feasible heart transplant devices for surveillance of patients after transplant.
Asia-Pacific is the region with tremendous heart transplant market growth in recent times. The heart transplant cost in countries such as China and India is way less than developed nations, which helps attract a lot of global patients to the region. Furthermore, rise in demand for quality heart transplant devices is also projected to lead to the application of advanced equipment, which is expected to increase growth of the heart transplant market.
Key Benefits of the Report
Questions Answered in the Global Heart Transplant Report
Heart Transplant Market Report Highlights
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Key Market Players | Apaxis Medical, Inc., CARMAT SA, Thoratec Corporation, HeartWare International, Inc., Calon Cardio, Optum, Inc., SynCardia Systems, LLC, CardiacAssist, Inc. |
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