According to our latest study on "Heart Transplant Market Forecast to 2030 - Global Analysis -Surgery Type, Type, and End User," the heart transplant market value is expected to reach US$ 35,470.84 million by 2030 from US$ 15,472.79 million in 2022. The report highlights trends prevailing in the market and factors driving and hindering the growth of the heart transplant market.

The increasing target disease incidence and growing geriatric population are the key factors driving the market development. However, the high cost of surgeries hampers the growth of the heart transplant market.

A living donor transplant is an operating procedure to remove a heart from a living person and place it in another person whose heart is no longer functioning properly. The popularity of living-organ donation has increased significantly recently due to the growing need for organs for transplantation and the shortage of available deceased-heart donation. Most donors are declared dead after tests that determine brain death. They are kept on a ventilator as they cannot breathe for themselves, but their heart continues to beat. Traditionally, all transplanted hearts in the last 40 years have come from such donors.

Asia Pacific is expected to register the fastest CAGR in the global market between 2022 and 2030. The market growth in this region is ascribed to the rise in healthcare awareness of the importance of organ donation and a surge in social media marketing to encourage a positive attitude toward organ donation. Additionally, advancing healthcare infrastructure and increasing investments to boost manufacturing capacities are projected to drive the Asia Pacific heart transplant market during the forecast period. India has a very low organ donation rate due to the lack of public awareness, religious or superstitious beliefs among people, and strict laws. Organ donation rates in India are ~0.01%, which is a minuscule figure in contrast to countries such as Croatia (36.5%) and Spain (35.3%), which limits the organ preservation market in India. The Government of India implemented the National Organ Transplant Programme in 2019 with a budget of US$ 21,000 (?149.5 crores) for encouraging deceased organ donation. These government initiatives, along with other numerous government and non-government organizations' initiatives, have scaled up the rate of organ donation in the region. In 2019, 13 of the 36 states, as well as union territories in India, reported deceased donations. Most of the deceased donation programs have been exhibited in the Southern states. ~50,000 people require heart transplants annually, but merely 0.2% receive suitable donors; each year, nearly 90-100 transplantations are conducted.

Terumo Corp, LivaNova Plc, Jarvik Heart Inc, BiVACOR Inc, Evaheart Inc, Berlin Heart GmbH, BioVentrix, SynCardia Systems LLC, Calon Cardio-Technology Ltd, and Abbott Laboratories are the prominent heart transplant market players.

Companies operating in the heart transplant market adopt various organic and inorganic strategies. Growth strategies mainly include product launches, and product approvals, mergers & acquisitions, collaborations, and partnerships are among the growth strategies witnessed in the heart transplant market.

A few of the significant developments by key market players are listed below.

- In April 2023, Terumo Aortic announced the first North American implant of a novel custom-made hybrid device, Thoracoflo, which is used to treat patients with thoracoabdominal aortic disease using a less invasive surgical technique than traditional open surgical repair.

- In September 2021, the company implemented inorganic growth strategies to reach more customers. The venture capital investment firm Hunniwell Lake Ventures, LLC, with its headquarters in California, acquired SynCardia. As a result, SynCardia now has the operational and financial means to guarantee its continued expansion and success both domestically and internationally. In order to assist more patients, the company has been able to continue creating cutting-edge medical devices and exploring new indications owing to this funding.

- In January 2022, BioVentrix Acquired MateraCor Inc. and their lead product. MateraCor, Inc. is a company that uses injectable hydrogel based on alginate to stop the progression of heart failure and reverse it.

- In June 2021, Abbott Laboratories announced that it has enhanced its capacity and supply for mechanical circulatory support (MCS) devices and Medtronic HeartWare ventricular assist devices (HVAD). In addition, the company announced providing support training and education programs for its HeartMate 3 heart pump.

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