Heart Pump Devices Market Application And Share Value Product (Ventricular Assist Devices, Intra-Aortic Balloon Pumps), Type (Implantable Heart Pump Devices), Therapy (Bridge-To-Candidacy, Destination Therapy) and By End-User – Global Forecast till 2027
Market Highlights
Heart pump devices are mechanical pumps that are used to support the function of the heart and blood flow in individuals with unhealthy hearts. Heart pump devices receive blood from the lower chamber of the heart and pump it to the body and vital organs.
The heart pump devices market is expected to register a CAGR of 12.5% during the forecast period.
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Heart Pump Devices Market Segmentation
The MRFR report provides an all-inclusive segmental analysis of the heart pump devices market based on end user, therapy, product, and type.
Based on type, the heart pump devices market is segmented into extracorporeal heart pump devices and implantable heart pump devices. Of these, the implantable heart pump devices will lead the market over the forecast period on account of advancements in technology in these heart pump devices which have improved their efficiency and also made them more safe and reliable, thus enabling their long-term use as survival options for those that cannot undergo heart transplants.
Based on the product, the heart pump devices market is segmented into total artificial heart, ventricular assist devices, and intra-aortic balloon pumps. The ventricular assist devices are again segmented into transcutaneous ventricular assist devices, percutaneous ventricular assist devices, bi-ventricular assist devices, left ventricular assist devices, and right ventricular assist devices. Of these, the ventricular assist devices will dominate the market over the forecast period on account of increased dependency on this device to treat heart failure coupled with advancements in technology to enhance the safety of ventricular assist devices.
Based on therapy, the heart pump devices market is segmented into destination therapy, bridge-to-transplant, bridge-to-candidacy, and others. Of these, the destination therapy will have the largest share in the market over the forecast period on account of the advancements in technology in heart pump technology for improving their efficacy and safety as well as patients’ quality of life.
Based on the end user, the heart pump devices market is segmented into research institutes, ambulatory surgical centers, hospitals and clinics, and others.
Heart Pump Devices Market Regional Analysis
By region, the heart pump devices market report covers the latest trends, share and growth opportunities across the Americas, Europe, North America, and the Middle East and Africa. Of these, the Americas will remain the driving force over the forecast period on account of increasing patient population, increasing aging population, rising cardiovascular disorder, and increasing initiatives undertaken by the government for R&D of advanced and innovative products.
The heart pump devices market in Europe is anticipated to have the second-largest share in the market during the forecast period chiefly on account of increasing obesity rates, increasing prevalence of cardiovascular disorders, rising older population, burgeoning demand for minimally invasive treatments, increasing healthcare infrastructure, and growing government support.
The heart pump devices market size in the APAC region is predicted to grow at the highest CAGR during the forecast period chiefly on account of improved living standards, rising population, demand for innovative and new treatment options, increasing healthcare spending, growing demand for diagnostic services, and rapid development of healthcare infrastructure.
The heart pump devices market in the MEA is predicted to experience slow growth over the forecast period on account of affordability issues and restricted access to healthcare facilities.
Heart Pump Devices Market Key Players
Notable players profiled in the Heart Pump Devices Market report include Thoratec Corporation, Cardiacassist, Berlin Heart, Terumo, Reliantheart, Teleflex, Syncardia Systems, Getinge, Abiomed, Abbott, and Medtronic.
Heart Pump Devices Industry News
October 2019: Medtronic has received FDA’s breakthrough support for its latest implantable heart pump that will treat people with advanced heart failure. The LVAD (left ventricular assist device) in development can be implanted completely sans any cable line that will extend to the power source outside the human body. It can be utilized as destination therapy or bridge to heart transplants for those who are not candidates for heart transplants.
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