Heart Pump Devices Market Size Rising Demand for New Techniques 2027

 Heart pump devices market was valued at USD 1,000 million in 2017 and is expected to grow at a CAGR of 12.5% during the forecast period, 2018–2023. The global heart pump devices market is majorly driven by the high prevalence of cardiovascular diseases, growing more elderly population leading to rising patient population affected with heart disorders, and growing penetration by market players. For instance, according to the American Heart Association, in 2014, one in every three deaths in the U.S. was due to cardiovascular disorders. Similarly, cardiovascular disorders had claimed over 801,000 lives in 2014 in the U.S. Additionally, the availability of heart pumps acts as an alternative during a shortage of heart donors, as heart pumps help in pumping the blood to the rest of the body. However, factors such as high cost of heart pump devices are likely to hamper the growth of the market.

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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 industry 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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