Covina, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Growth in the geriatric population and the increasing prevalence of cardiovascular diseases have boosted the demand for heart pump devices. Heart pump devices have become important as they support the cardiovascular system. Different types of heart pump devices are available in market depending on cardiovascular diseases.
An increase in the number of cardiac transplants and a shortage of organ donors have propelled the Heart Pump Devices market growth. Innovative technological development, presence of major key players, and the launch of new products are expected to witness growth in Heart Pump Device market. For instance, according to the PMC, Teleflex Arrow IABP, AbioMed Impella, ECMO, and Thoratec CentriMag are temporary support heart pump devices that are commonly and currently used in clinical settings.
The report “Heart Pump Device Market, By Type (Implantable Heart Pump Devices and Extracorporeal Heart Pump Devices), By Product (Intra-aortic Balloon Pumps, Ventricular Assist Devices (RVAD, LVAD, pVAD, BiVAD), and TAH (Total Artificial Heart)), By Therapy (Destination Therapy, Bridge to Transplant, and Others), By End-Users (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”
Key Highlights:
- In December 2022, Abbott has launched new minimally invasive device for treating heart valve diseases in India. The newly launched Navitor TAVI system is the latest addition to the company’s heart trans-catheter portfolio, which offers less invasive options for treating heart diseases.
- In March 2020, Abbott received breakthrough device designation from the FDA (Food and Drug Administration) for its Fully Implantable Left Ventricular Assist System (FILVAS).
- In February 2017, Boston Scientific launched its new "RESONATE" cardiac resynchronization therapy defibrillator (CRT-D) system in Europe. A newly launched device with SmartCRT technology has received the CE mark and is now available in Europe for heart failure patients.
Analyst View:
The scarcity of organ donors and the rise in cardiovascular disease have prompted the use of mechanical circulatory support, which helps millions of people with heart disease to live longer and suffer less. Some fundamental changes in designing heart pump devices are highly recommended to address infectious problems, pump thrombosis, and bleeding, and to ultimately make a device that supports the heart indefinitely. The Heart Pump Device market is expected to grow due to revolutionary advancements in cardiac support technologies.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on“Heart Pump Device Market, By Type (Implantable Heart Pump Devices and Extracorporeal Heart Pump Devices), By Product (Intra-aortic Balloon Pumps, Ventricular Assist Devices (RVAD, LVAD, pVAD, BiVAD), and TAH (Total Artificial Heart)), By Therapy (Destination Therapy, Bridge to Transplant, and Others), By End-Users (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”
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Key Market Insights from the report:
Heart Pump Device Market accounted for US$ 2.6 billion in 2022 and is estimated to be US$ 21.9 billion by 2032 and is anticipated to register a CAGR of 22.4%. The Heart Pump Device Market is segmented based on Type, Product, Therapy, End-Users and Region.
- Based on Type, Heart Pump Device Market is segmented into Implantable Heart Pump Devices and Extracorporeal Heart Pump Devices.
- Based on Product, Heart Pump Device Market is segmented into Intra-aortic Balloon Pumps, Ventricular Assist Devices (RVAD, LVAD, pVAD, BiVAD), and TAH (Total Artificial Heart).
- Based on Therapy, Heart Pump Device Market is segmented into Destination Therapy, Bridge to Transplant, and others.
- Based on End-Users, Heart Pump Device Market is segmented into Hospitals, Specialty Clinics, Ambulatory Surgical Centers, and others.
- By Region, the Heart Pump Device Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies of Heart Pump Device Market:
The prominent players operating in the Heart Pump Device Market includes,
- Medtronic plc.
- Abbott Laboratories
- Johnson & Johnson Services Inc.
- Boston Scientific Corporation
- Edwards Lifesciences Corporation
- Terumo Medical Corporation
- Thoratec Corporation
- ABIOMED
- Teleflex Inc.
- Getinge AB
Scope of the Report:
- Heart Pump Device Market, By Type
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Implantable Heart Pump Devices
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Extracorporeal Heart Pump Devices
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Heart Pump Device Market, By Product, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Intra-aortic Balloon Pumps
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Ventricular Assist Devices (RVAD, LVAD, pVAD, BiVAD)
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- TAH (Total Artificial Heart)
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Heart Pump Device Market, By Therapy, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Destination Therapy
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Bridge to Transplant
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Heart Pump Device Market, By End-Users, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Hospitals
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Specialty Clinics
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Ambulatory Surgical Centers
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
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Key Pointers Provided in the Heart Pump Device Market
- Overview of the heart pump device market, including definition, scope, and segmentation.
- Analysis of market drivers, restraints, and opportunities impacting market growth.
- Detailed examination of the different types of heart pump devices available and their applications in treating heart failure.
- Assessment of the regulatory landscape governing heart pump devices and the challenges facing their adoption.
- Analysis of the competitive landscape, including key players, their market share, and growth strategies.
- Discussion of market segmentation, including by product type, application, end-user, and geography.
- Forecast of the market size and growth rate for the upcoming years, including potential future trends and challenges.
- Identification of emerging market opportunities and recommendations for strategic decision-making by stakeholders.
- Case studies and examples of successful implementation of heart pump devices in healthcare and their impact on patient outcomes.
- Analysis of the future outlook for the heart pump device market, including potential growth areas and challenges.
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