The global heart pump device market was valued at USD 2.9 billion in 2022, and it is anticipated to reach up to USD 15.3 billion by 2032, at a CAGR of 20.1% during the forecast period.
Millions of individuals around the world suffer from heart failure, which kills more people annually than all forms of cancer combined. Since there aren’t enough donors for heart transplants, using a reliable mechanical circulatory support system could lengthen patients’ lives and ease their pain. This device can be inserted into either the left or right ventricle of your heart, although the left ventricle is where it is most usually utilized. If a patient suffers heart failure and is not a suitable candidate for a heart transplant, the doctor may recommend having a VAD implanted as a long-term treatment. If you have severe heart failure, the procedure to install these devices—which necessitates open-heart surgery and carries significant risks and complications—can save your life. Following the implants, the patient must visit the doctor to discuss how the device is performing and, if necessary, any issues.
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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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Market Restraints and Challenges
For bridge-to-heart transplantation, ventricular support devices, notably left ventricular assist devices (LVADs), are frequently employed. LVADs are thought of as life-saving devices, however they also have a number of difficulties.
By six months after implantation, up to 60% of patients typically experience LVAD-related problems. Nearly 80% of patients had at least one unfavorable incident by two years. Unexpected readmissions to the hospital are frequent. Patients are observed to be readmitted on average 2.2 times throughout the course of their median follow-up period of 11 months.
Device thrombosis, bleeding issues, renal impairment, ischemic and hemorrhagic strokes, multi-organ failure, and infections are some of the major non-surgical adverse events and LVAD consequences. If left untreated, some issues also turn out to be fatal for the victims. About 60% of VAD patients experience an infection within 90 days, according to statistics from the University of Michigan Frankel Cardiovascular Center. Infections, thromboembolic events, and bleeding issues are just a few of the LVAD’s frequent side effects.
Global Heart Pump Device Market Segmental Overview
Based on the product, it is segmented into ventricular assist devices, intra-aortic balloon pumps, and total artificial hearts. The Ventricular Assist Devices (VADs) segment in the Heart Pump Device Market has witnessed remarkable growth driven by advancements in technology and a rising prevalence of heart failure. These innovative devices play a pivotal role in supporting patients with weakened hearts by assisting the pumping function, thereby improving overall cardiac output. The increasing adoption of VADs can be attributed to their effectiveness in enhancing patient outcomes and quality of life. Additionally, ongoing research and development efforts have led to the introduction of more compact and durable devices, further expanding the potential patient population. As healthcare providers and patients increasingly recognize the benefits of ventricular assist devices, the market is poised for continued growth, with the potential to transform the landscape of heart failure treatment.
Global Heart Pump Device Market by Type
Based on the type, it is segmented into implanted heart pump devices, and extracorporeal heart pump devices.
The implanted heart pump devices segment in the heart pump device market has witnessed remarkable growth due to advancements in medical technology and an increasing prevalence of cardiovascular diseases. These devices, such as ventricular assist devices (VADs) and total artificial heart (TAH), play a critical role in supporting heart function and improving the quality of life for patients with advanced heart failure. The rising awareness among healthcare professionals about the efficacy of implanted heart pump devices, coupled with their ability to provide both short-term and long-term mechanical circulatory support, is driving the demand for these devices. Moreover, ongoing research and development efforts are contributing to the enhancement of device design, durability, and overall performance, further fueling the growth of this segment in the heart pump device market.
Global Heart Pump Device Market by Therapy
Based on the therapy, it is segmented into bridge-to-transplant (BTT), bridge-to-candidacy (BTC), destination therapy (DT), and other therapy. The Bridge-to-Transplant (BTT) therapy, has exhibited substantial growth in recent years. As advancements in medical technology continue to unfold, the demand for these devices has surged, driven by an increasing prevalence of heart failure and a growing awareness of the therapeutic benefits offered by mechanical circulatory support. The Bridge-to-Transplant segment, in particular, has witnessed a notable uptick as these devices serve as a crucial lifeline for patients awaiting heart transplantation. The technology’s ability to provide temporary circulatory support while patients await a suitable donor heart positions it as a critical component in the management of end-stage heart failure. This growth is further fueled by ongoing research and development efforts, enhancing the efficacy and safety of these devices, thereby expanding their application and market reach. As the healthcare industry continues to prioritize innovative solutions for cardiovascular diseases, the Heart Pump Device Market’s Bridge-to-Transplant segment is poised for sustained expansion in the foreseeable future.
Geographical Analysis of Heart Pump Device Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World.In North America, the Heart Pump Device Market is experiencing robust segment growth driven by advancements in technology, increasing prevalence of cardiovascular diseases, and a rising aging population. Continuous innovation in heart pump technologies, such as the development of more efficient and durable devices, is fostering market expansion. Moreover, a growing awareness of heart failure and the benefits of mechanical circulatory support devices among both healthcare professionals and patients is propelling the demand for these devices. Additionally, favorable reimbursement policies and a well-established healthcare infrastructure in North America further contribute to the positive growth trajectory of the Heart Pump Device Market in the region.
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Major Players in the Global Heart Pump Device Market
The key players studied in the report are 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, and CardioDyme among others.
COVID-19 Impact
The COVID-19 pandemic has significantly influenced the growth trajectory of the Heart Pump Device Market, introducing a complex interplay of challenges and opportunities. While the pandemic has posed formidable hurdles, such as disruptions in the global supply chain, delays in elective medical procedures, and economic uncertainties, it has also underscored the critical need for advanced cardiac care and accelerated the adoption of innovative heart pump technologies. The increased prevalence of cardiovascular diseases and the surge in severe cases among COVID-19 patients have driven the demand for effective circulatory support devices, fostering market growth. Moreover, the pandemic has prompted a shift towards remote patient monitoring and telemedicine, catalyzing the development of smart and connected heart pump devices. As healthcare systems worldwide adapt to the evolving landscape, the Heart Pump Device Market is poised to navigate the challenges and emerge with renewed focus on resilience, innovation, and patient-centric solutions.
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Research Scope
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- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
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- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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