Allied Market Research

2024

Heart Pump Device Market

Heart Pump Device Market Size, Share, Competitive Landscape and Trend Analysis Report by Product, by Type and by Therapy : Global Opportunity Analysis and Industry Forecast, 2023-2032

LS : Medical Devices & Supplies

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Author's: | Roshan Deshmukh
Publish Date:

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Heart failure is a condition in which the heart is unable to pump enough blood to meet the requirements of the body. This condition can arise due to various factors such as coronary artery diseases, including a previous myocardial infarction (heart attack), high blood pressure, atrial fibrillation, valvular heart disease, and others. To assist cardiac circulation, various types of heart pump devices are available in the market, depending on the cardiovascular condition. They are surgically implanted, and are used for temporary or extended support for functioning of heart in people with weak heart or irregular blood flow. Heart pump devices serve as a potential therapeutic option for several patients to get mechanical circulatory support.

The growth of the global heart pump device market is majorly driven by surge in prevalence of cardiovascular diseases, rise in geriatric population, and increase in new product developments by the market players. Owing to dearth in number of heart donors, heart pump devices act as an ideal alternative, which further drives the growth of the global market. However, factors such as high cost of heart pump devices and poor reimbursement scenario in developing nations are expected to restrain the market growth during the forecast period. Furthermore, turbulence and high shear stresses associated with mechanical heart valve (MHV) and requirement of consistent anti-coagulation therapy by patients hamper the growth of the market. Conversely, increase in morbidity and mortality of heart failure, particularly in developed nations, is expected to offer remunerative opportunities for heart pump devices manufacturers. 

The global heart pump device market is segmented by product, type, therapy, and region. On the basis of product, the market is fragmented into ventricular assist devices (VADs), intra-aortic balloon pumps (IABPs), and total artificial heart (TAH). The VADs segment is further categorized into left ventricular assist devices (LVADs), right ventricular assist devices (RVADs), bi-ventricular assist devices (BiVADs), and percutaneous ventricular assist devices (pVADs). Based on type, the market is classified into implantable heart pump devices and extracorporeal heart pump devices. Depending on therapy, it is segregated into bridge-to-transplant (BTT), bridge-to-candidancy (BTC), destination therapy (DT), and other therapies. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report provides comprehensive analysis of the key players, such as Getinge AB, Terumo Europe NV, HeartWare, Jarvik Heart, Inc., Thoratec Corporation, Abbott Laboratories, Medtronic, CardiacAssist, Inc., Fresenius Medical Care AG & Co. KGaA, and Abiomed, Inc. Other players in the value chain includes SynCardia Systems, LLC, BerlinHeart Gmbh, Teleflex Incorporated, ReliantHeart, Inc., and others.

KEY BENEFITS FOR STAKEHOLDERS

  • An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
  • A comprehensive analysis of the factors that drive and restrain the growth of the global heart pump device market is provided.
  • Region-wise and country-wise market conditions are comprehensively analyzed in this report.
  • The projections in this report are made by analyzing the current market trends and future market potential in terms of value.
  • An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
  • Key market players within the heart pump device market are profiled in this report, and their strategies are analyzed thoroughly, which helps to understand competitive outlook of global heart pump device market.

Heart Pump Device Market Report Highlights

Aspects Details
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By Product
  • Ventricular Assist Devices (VADs)
  • Intra-Aortic Balloon Pumps (IABPs)
  • total artificial heart (TAH)
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By Type
  • Implantable Heart Pump Devices
  • Extracorporeal Heart Pump Devices
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By Therapy
  • Bridge-To-Transplant (BTT)
  • Bridge-To-Candidancy (BTC)
  • Destination Therapy (DT)
  • Other Therapies
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
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Key Market Players

Abbott Laboratories, Getinge AB, CardiacAssist Inc., Abiomed Inc., Jarvik Heart Inc., Thoratec Corporation, HeartWare, Medtronic, Terumo Europe NV, Fresenius Medical Care AG & Co. KGaA

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Heart Pump Device Market

Global Opportunity Analysis and Industry Forecast, 2023-2032