Heart Pump Devices Market Overview:
The heart pump devices market to find inspiration in the advancing technologies as the latter makes the procedure simplified and enhances its acceptance level. Heart pump devices assist in cardiac circulation. The device works by either partially or completely replacing the function of the heart. Used mostly for patients recovering from heart attack or cardiac surgery, these heart pump devices aim at providing support for a short span. But some provide long-term for heart failure of graver status.
The Heart Pump Devices market trends report anticipates the industry to reach USD 2.52 Billion by 2030 at 21.50% CAGR during the forecast period 2022-2030.
The recently published report includes detailed segmental analysis and puts special emphasis on drivers and restraints that can impact the market in the coming years. Apart from this, the latest updates from various companies have been included to provide a holistic view of the entire market.
Prevalence of cardiovascular diseases can be considered the prime driver for the heart pump devices market. At the same time, weak immunity is triggering several diseases which end up affecting the heart in a significant way. The market is enjoying the most the tussle going on between existing major players and new entrants. New players, with their product in an affordable range and innovation, are substantially challenging the market titans which is drawing in strategical changes. These tactical moves are clearing the path for further market expansion. In addition, new products are getting approval which can widen up the horizon for the heart pump devices market. However, the high cost of the devices can pull back the leash of the expected growth considerably.
MRFR report on the global heart pump devices market segments the market by device type, product, therapy, and end-user.
Based on the device type, the heart pump devices market can be segmented into implantable heart pump devices and extracorporeal heart pump devices. Extracorporeal heart pump devices are used mostly to help patients in recovering.
On the basis of the type of the product, the heart pump devices market includes ventricular assist devices, intra-aortic balloon pumps, and the total artificial heart. Ventricular assist devices include left ventricular assist devices, right ventricular assist devices, bi-ventricular assist devices, percutaneous ventricular assist devices, and transcutaneous ventricular assist devices. Left ventricular devices are popular for their impactful application.
Based on the therapy, the heart pump devices market comprises bridge-to-transplant, destination therapy, bridge-to-candidacy, and others. The bridge-to-transplant segment is used in long term heart pump devices.
Based on the end-users, the heart pump devices market is segmented into research institutes, hospitals and clinics, and ambulatory surgical centers.
MRFR geographically segments the heart pump devices market into the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).
The Americas is leading the global market with the maximum market share of the global heart pump device market. The U.S. leads the regional market with substantial market share owing to its impacting healthcare sector infrastructure. In addition, technological advancement in the region can trigger further progress.
Europe has the second largest market, and the healthy share it generates can be attributed to the infrastructural benefits the region offers. The APAC region can register the fastest CAGR during the forecast period. A huge patient pool mostly comprised mostly of the geriatric population is a major driving factor for the regional market. At the same time, cities with heavy pollution are several in number which can trigger cardiovascular diseases and then, squarely, heart pump devices market.
Impacting players in the market and holding the heart pump devices market share, are Berlin Heart, Abbott, Medtronic, Abiomed, Getinge, Terumo, Syncardia Systems, Teleflex, Reliantheart, Cardiacassist, and Thoratec Corporation, among others.
Procyrion Inc.’s Aortix is a catheter-deployed supporting device for a cardiorenal syndrome that is thinner than the previously launched model models in the area by other companies.
HeartMate 3™ LVAD, by UR Medicine cardiac surgeons is a minimally invasive heart-pumping device. This would help in the quick recovery of the patients without much disturbance.
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