Heart Transplant Market Analysis Report | Size, Share & Growth Outlook

The heart transplant market size is projected to grow from US$ 15,472.79 million in 2022 to US$ 35,470.84 million by 2030; the market is estimated to record a CAGR of 10.9% during 2022–2030.

Market Insights and Analyst View:

The increasing target disease incidence and growing geriatric population are the key factors driving the heart transplant market progress. However, the high cost of surgeries hampers the market growth. In the US, nearly 3,499 people underwent heart transplant procedures in 2020. Data from an annual report on Cardiothoracic Organ Transplantation 2021–2022, NHS Blood and Transplant, published in September 2022, suggests that ~145 heart transplants were performed in adults in 2021–2022 in the UK.

Companies operating in the heart transplant market are focusing on collaborations, expansions, agreements, partnerships, and new product launches, which help them improve their sales, expand their geographic reach, and enhance their capacities to cater to a larger than existing customer base. 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.

Growth Drivers:

Improving Healthcare Capabilities and Growing Patient Pool in Emerging Nations Creates Opportunities for Heart Transplant Market

Emerging countries such as India, China, Argentina, Brazil, the UAE, and South Africa are expected to offer significant growth opportunities for heart transplant market players mainly due to flourishing R&D landscape, rising patient population, growing cardiovascular disease (CVD) awareness, improving healthcare infrastructure, burgeoning disposable incomes, and relatively lenient policies compared to developed economies. According to the World Economic Forum, Russia, China, Brazil, India, and South Africa were among the fastest-growing economies globally as of 2017, and they collectively accounted for one-third of total global health spending.

According to the World Bank, health spending in India and China increased by 3.01% and 5.35%, respectively, from 2018 to 2019. As per the India Brand Equity Foundation, the healthcare sector in India was worth US$ 280 billion in 2020, with ~71% of revenue contribution from hospitals, which indicates a significant improvement in the country’s healthcare sector. In China, the number of private hospitals has doubled from 2011 to 2017 to reach a total of 16,900. Private hospitals account for ~57% of total hospitals in the country. The number of surgical centers and hospitals in developing markets would continue to grow with burgeoning healthcare spending and a rising target patient population. Therefore, the development of healthcare facilities in the developing economies, along with a flow in the number of hospitals, would in turn, result in the elevated number of heart transplantation surgeries in the coming years, creating lucrative opportunities for the heart transplant market players.

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Heart Transplant Market: Strategic Insights

Market Size Value in	US$ 15,472.79 million in 2022
Market Size Value by	US$ 35,470.84 million by 2030
Growth rate	CAGR of 10.9% from 2022 to 2030
Forecast Period	2022-2030
Base Year	2022

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Report Segmentation and Scope:

The “heart transplant market” is segmented on the basis of surgery type, type, and end user. The market, by surgery type, is segmented into orthotopic heart transplantation and heterotopic heart transplantation. The orthotopic heart transplant segment held a larger market share in 2022 and is anticipated to register a higher CAGR of 11.1% during the forecast period (2022-2030). The heart transplant market, based on type, is segmented into donor live heart and artificial heart. The donor live heart segment held a larger market share in 2022. The artificial heart segment is anticipated to register a higher CAGR of 11.6% during the forecast period. The heart transplant market, by end user, is segmented into hospitals, cardiac centers, and others. The hospitals segment held the largest market share in 2022 and is anticipated to register the highest CAGR of 11.2% during 2022–2030.

The heart transplant market, by surgery type, is segmented into orthotopic heart transplantation and heterotopic heart transplantation. The orthotopic heart transplant segment held a larger market share in 2022 and is anticipated to register a higher CAGR of 11.1% during the forecast period. An orthotopic heart transplant is the most commonly utilized technique. In the orthotopic approach, the recipient's heart is removed and the donor’s heart is used to restore it in the correct anatomical position. After the donor’s heart is removed, it is preserved and packed for transport, and it must be transplanted into the receiver within 4–5 hours. While the heart transplant is being performed, general anesthesia is given to the receiver and is arranged on a bypass machine to oxygenate the blood.

Heart Transplant Market, by Surgery Type – 2022 and 2030

Access Data

The heart transplant market, by type, is segmented into donor live heart and artificial heart. The donor live heart segment held a larger market share in 2022. However, the artificial heart segment is anticipated to register a higher CAGR of 11.6% during the forecast period. A living-donor transplant is an operating procedure to remove a heart from a dead person and place it in another person whose heart is no longer functioning properly. The popularity of living-organ donation has increased significantly in recent years due to the burgeoning need for organs for transplantation and the shortage of hearts from deceased persons (obtained via voluntary donation). Most donors are declared dead after tests that determine brain death. Although they are kept on a ventilator as they can’t breathe for themselves, their heart continues to beat. Traditionally, all transplanted hearts have come from living donors in the last 40 years.

The heart transplant market, by end user, is segmented into hospitals, cardiac centers, and others. The hospitals segment held a substantial market share in 2022 and is predicted to register a higher CAGR of 11.2% during the forecast period. Hospitals are large entities that have multiple facilities available in a single organization. Hospitals also provide various diagnostics and treatment facilities that can be reimbursed under insurance claims. They employ various doctors, specialists, and other healthcare professionals to provide better healthcare services. All CVDs can be treated in hospitals, and they provide improved nursing services.

A high prevalence of conventional CVD risk factors (e.g., diabetes, hypertension, dyslipidemia) can be associated with an increasing need for heart transplant procedures. In 2020, nearly 8,200 heart transplants were performed worldwide, out of which, 3,658 were performed in the US. Heart transplantation is a highly complex surgery, and hence, these procedures are performed at the most well-equipped hospitals. There are fewer than 150 hospitals in the US (out of more than 6,000 hospitals) that perform heart transplant surgeries. The survival rate is good with appropriate follow-up care with healthcare professionals from hospital staff. This is expected to boost the market growth during the prediction period.

Regional Analysis:

Based on geography, the global Heart Transplant market is segmented into North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America contributed the largest share of the global heart transplant market size. Asia Pacific is expected to register the highest CAGR during 2022–2030. Market growth in this region is ascribed to a rise in awareness of the importance of organ donation and an increase in social media marketing to persuade a positive attitude toward organ donation. Additionally, advancing healthcare infrastructure and rising investments to boost manufacturing capacities are projected to drive the Asia Pacific heart transplant market during the forecast period.

The heart transplant market in North America is further split into the US, Canada, and Mexico. Market growth in this region can be attributed to an upsurge in the geriatric population, the prevalence of CVDs, and an increase in heart failure cases. The increasing incidences of chronic kidney diseases and the rising geriatric population are the key factors influencing the heart transplant market growth in the US. According to data provided by the American Heart Association Inc., ~1 million new heart failure cases are registered annually in the US, and more than 8 million people are estimated to suffer from heart failure by 2030. As per the Health Research Funding Organization, ~555,000 people were diagnosed with the beginning stages of heart failure in the US in 2021. CVDs generally lead to heart failure or terminal heart disease, which bolsters the demand for heart transplants.

The US Food and Drug Administration (FDA) is increasingly approving various heart transplant procedures and products. In addition, the presence of major companies benefits the market in this country. In April 2022, TransMedics Group, Inc. received premarket FDA approval for its OCS Heart.

Additionally, according to the latest data from the Canadian Institute for Health Information, 2,782 organ transplantation procedures were performed in Canada in 2021. 78% of transplants were obtained from deceased donors, and 21% used living donor organs. Heart disease is a general term for various conditions affecting the heart and blood vessels. CVDs have a significant impact on the health of Canadians. As per the Canadian Institute for Health Information, ~2.4 million Canadians suffer from heart disease. Canadian Cardiovascular Society stated that ~750,000 Canadians are living with heart failure, while more than 100,000 Canadians are diagnosed with heart failure. According to a new Heart & Stroke poll conducted by the Heart and Stroke Foundation of Canada, ~1 in 3 Canadians suffer from heart failure. The Canadian Institute for Health Information states that a total of 2,936 organ transplants were performed in Canada in 2022; out of these, 5% were heart transplant procedures.

Moreover, healthcare costs associated with heart failure in Canada are expected to reach US$ 2.8 billion annually by 2030. Age, coupled with the growing prevalence of diabetes, hypertension, and underlying heart disease, is the major risk factor for heart failure. Thus, a rise in the cost burden of heart failure and an increase in the prevalence of CVDs are fueling the demand for heart transplants in Canada.

Industry Developments and Future Opportunities:

Various strategic developments by leading players operating in the heart transplant market are listed below:

• In January 2022, BioVentrix Acquired MateraCor Inc and its leading product. MateraCor, Inc. uses injectable hydrogel based on alginate to stop the progression of heart failure and reverse it.
• In September 2021, SynCardia Systems LLC was acquired by the venture capital investment firm Hunniwell Lake Ventures, LLC, headquartered in California. With this acquisition, SynCardia has now gained the operational and financial means for its continued expansion and success, in both domestic and international markets. The company has been able to continue creating cutting-edge medical devices and exploring new indications owing to this funding.
• In March 2021, Berlin Heart won the CE mark for an innovative outflow cannula for mechanical circulatory support with the para-corporeal pulsatile EXCOR ventricular assist device, along with its first implantation in a patient. The EXCOR Graft Cannula connects the outflow side of the blood pump to the ascending aorta for left ventricular support or to the pulmonary artery for right ventricular support.
• In March 2023, BiVACOR Inc’s Cormorant Asset Management and OneVentures, through the OneVentures Healthcare Fund III, funded the company with US$ 18 million in capital. The funds will help the business hire important executives and support its ongoing R&D as well as early feasibility studies in human trials. Using this financial aid, the company would hire candidates for important roles, such as research and development professionals and the C-suite, as a part of its efforts to double its operations in size. The BiVACOR Inc further hopes to conduct an early feasibility study of its Total Artificial Heart for the first time in human subjects by the end of 2023.

Competitive Landscape and Key Companies:

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 companies in the heart transplant market. These companies focus on new technologies, upgrading existing products, and geographic expansions to meet the growing consumer demand worldwide.