The global heart pump device market was valued at USD 2.5 billion in 2021, and it is anticipated to reach up to USD 14.4 billion by 2031, at a CAGR of 19.1% during the forecast period.
New York, Global Heart Pump Device Market report from Global Insight Services is the single authoritative source of intelligence on Heart Pump Device Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Key Players
Abbott Laboratories
Abiomed
Medtronic
Teleflex Incorporated
SynCardia Systems
Fresenius Medical Care AG & Co. KGaA
Getinge
CardiacAssist, Inc.
Berlin Heart
Jarvik Heart, Inc.
CARMAT
SENKO MEDICAL INSTRUMENT Mfg. CO., LTD.
Angiodroid
CardioDyme
Market Trends and Drivers
Due to the rising prevalence of CVDs and heart failure over the past several years, there has been a major increase in the demand for heart transplants. However, a global shortage issue has emerged due to the lack of sufficient hearts for transplantation to fulfill the current demand. There were roughly 3,980 candidates on the heart transplant waiting list as of March 2018, according to the national database maintained by the Health Resources and Services Administration (US).
Significant variations in the number of donors and patients on waiting lists have been seen, even at the national level. For instance, in Australia, there were around 1,650 people on the waiting list for a heart transplant in 2020, but there were only 463 donors available (Source: Transplant Australia Ltd). According to the Transplant Activity Report 2018/19, since 2010, there have been 134 percent more people active on waiting lists for heart transplants.
In this situation, there has been a rise in both the number of people waiting for transplants as well as the number of people passing away while on the list. Advanced heart failure (HF) management using LVADs as a bridge to transplantation (BTT) or destination therapy has become critical (DT). The need for mechanical circulatory support (MCS) devices used in these patients has increased as a result of organ shortages, the rise in end-stage HF patients, and technological advancements in MCS. 43 percent of recipients had some combination of MCS, LVAD, RVAD, TAH, and ECMO between 2009 and 2016. In the US, VADs were implanted in 50% of all adult heart transplant recipients between 2007 and 2017.
When a patient is not a candidate for a heart transplant, these devices also serve as a permanent solution, giving them the assistance, they need while they wait. In light of this, it is anticipated that the market for heart pump devices would expand over the next few years due to the substantial gap between the demand and availability of donor hearts.
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Global Heart Pump Device Market Segmentation
By Product
- Ventricular Assist Devices
- Intra-Aortic Balloon Pumps
- Total Artificial Hearts
By Type
- Implanted Heart Pump Device
- Extracorporeal Heart Pump Device
By Therapy
- Bridge-to-Transplant (BTT)
- Bridge-to-Candidacy (BTC)
- Destination Therapy (DT)
- Other Therapies
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The UK
- Germany
- France
- Spain
- Rest of Europe
- The Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- The Middle East
- Africa
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