Monday, 4 June 2018

Artificial Heart Market Size to Grow Exponentially by 2026

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
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
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.
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