Heart Pump Device Market Size
is projected to achieve a value of USD 3.75 Billion in 2023, with a linear
behavior in the market growth it is forecasted to achieve a value of USD 15.83
Billion by 2033 with a CAGR of 19.3% during the forecast period 2024-2033.
We Market Research
mechanical pump called a ventricular assist device (VAD), often called a heart
pump device, helps patients with severe heart failure sustain cardiac function.
It is inserted surgically to help the body's failing heart pump blood. The
device can assist one or both ventricles, depending on the patient's needs. By
replacing the heart's pump, it can enhance blood flow, lessen symptoms, and
enhance the patient's quality of life as a long-term treatment option or while
awaiting a heart transplant.
Heart Pump Device Market is influenced by a number of significant factors.
Technological advancements in materials science and device design boost market
expansion by making products more resilient and simpler to use. The aging of
the world's population and the rise in the prevalence of cardiovascular diseases
add to the need for these devices. Patients and medical professionals are
becoming more aware of the advantages of heart pump devices in managing heart
failure, which propels market expansion even more. Furthermore, a growing
percentage of heart failure patients are ineligible for transplants, which is
driving the adoption of these devices as an alternate therapy and growing
Market Size in 2023
Market Forecast in 2033
CAGR % 2024-2033
Consumption, company share, company heatmap, company production capacity,
growth factors and more
By Type, By Product, By Therapy, By
End-use and By Region
Heart Pump Technology
Donor Hearts for Transplants
North America, Europe, APAC, South
America and Middle East and Africa
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria
Heart Pump Device Industry: Drivers & Restrains
Prevalence of Cardiovascular Diseases (CVDs)- Cardiovascular
disorders (CVDs) are becoming more common, and this is one of the major factors
driving the heart pump device market. The need for more modern treatment alternatives
is growing as cardiovascular diseases (CVDs) such heart failure and coronary
artery disease continue to develop in the world. Heart pump devices fill a gap
in the treatment of end-stage heart failure by improving patient survival
rates. They are life-saving technologies. The need for durable, creative, and
minimally invasive technologies is expanding because to the increasing number
of patients, which is driving ongoing research and development. The market for
heart pump devices is growing as a result of the increase in cardiovascular
disease cases, which in turn increases demand for efficient cardiac support
developments stimulate the heart pump devices market by encouraging creativity,
effectiveness, and patient-centered solutions. As a result of technological
advancements, heart pump devices are becoming more compact, robust, and
advanced, which improves their efficacy and safety characteristics. Better
materials, more sophisticated pump designs, and wireless monitoring
capabilities transform patient care by lowering risks and facilitating better
results. In addition to meeting the urgent demand for more effective cardiac
support systems, these developments also draw funding and partnerships, advancing
the industry with innovative solutions that consistently raise the bar for
cost of devices- Heart pump devices are
expensive, making them less accessible or affordable for patients or healthcare
systems, which severely restricts market growth. The substantial expenses
associated with device acquisition, installation, post-operative care, and
maintenance lead to financial restraints, especially in regions with
constrained healthcare budgets or inadequate payment schemes. In addition to
impeding patient access, the cost deters organizations and healthcare
professionals from implementing it extensively. Reducing this barrier and
expanding access to life-saving heart pump technology will require addressing
cost concerns with innovative pricing models, improved reimbursement programs,
and increased manufacturing efficiencies.
Heart Pump Device Segmentation
Market- By Type Analysis
By Type, the Heart Pump Device Market is Categories into Extracorporeal Heart Pump Devices, Implanted Heart Pump Devices. The Implanted Heart Pump Devices segment accounts for the largest share of around 76% in 2022.
Patients with heart failure (HF) who are
not suitable for a heart transplant are increasingly using implanted heart pump
devices. The enhanced longevity provided by implanted cardiac pump devices has
compelled their adoption in the medical field.
following segments are part of an in-depth analysis of the global market for Heart
Pump Device Market:
Total Artificial Hearts
Ventricular Assist Devices
Intra-Aortic Balloon Pumps
Extracorporeal Membrane Oxygenation
Heart Pump Device Industry: Regional Analysis
North America Market Forecast
North America dominate the Heart Pump Device Market with the highest revenue generating market with share of more than 49%. Due to a large patient population with cardiovascular diseases, favorable reimbursement policies, and high healthcare costs, North America market now holds the largest share of the global heart pump device market.
Europe Market Statistics
is the second-largest market for Heart Pump Device. Growing public awareness,
improved access to innovative treatments, and more government initiatives are
all influencing the treatment of cardiovascular disease and supporting the
European market's continuous growth.
APAC Market Forecasts
Pacific is expected to be the fastest-growing market for Heart Pump Device
during the forecast period. The primary factors include the growing prevalence
of cardiovascular diseases, the population's rapid growth, rising disposable
income, and government measures to improve the healthcare system. Another key
driver propelling the market's expansion is the increasing availability of
high-quality healthcare to customers in the expanding middle class.
Key Market Players
Heart Pump Device Market is dominated by a few large companies, such as
SynCardia Systems, LLC
Fresenius SE & Co.
August 2022, According to
recent statistics, patients with advanced heart failure had a minimum 5-year
survival benefit from using the Abbott HeartMate 3TM heart pump. The
information comes from the largest randomized clinical trial in the world,
MOMENTUM 3, which evaluated the long-term outcomes of treating patients with
severe heart failure with a left ventricular assist device.
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Heart Pump Device Market was valued at USD 2.57Billion in 2022.
Heart Pump Device Market size will increase at approximate CAGR of 19.3% during the forecasted period.
Major companies operating within the Heart Pump Device Market are SynCardia Systems, LLC, ABIOMED, Berlin Heart, Teleflex Incorporated, CARMAT, CorWave SA, Abbott, Evaheart, Inc., Getinge AB., BiVACOR Inc., Jarvik Heart, Fresenius SE & Co. KGaA, LivaNova PLC, Leviticus Cardio and other.
North America dominates the market with an active share of 49%.
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