Covid Impact Heart Pump Device Market is projected to reach a value of over USD 5.8 billion by 2027 at a CAGR of around 11.6%.

6 min readOct 20, 2020

Heart Pump Device Market: Summary

The Global Heart Pump Device Market is projected to reach a value of over USD 5.8 billion by 2027 at a CAGR of around 11.6%.

A class of medical device used to support the heart function and blood flow among the people with a weak heart is referred to as a heart pump device. Heart failure occurs when a heart is unable to pump enough blood to meet the body’s requirements. In such cases, a heart pump device helps to improve the volume of blood pumped in the body. The device is surgiclly implemented in the human body for providing support to normal heart function.

Heart Pump Device Market: Drivers & Restraint

Market Driver:

Rising Prevalence of Cardiovascular Diseases

The growing elderly population, increase in stress level, increasing standard of living, and increase in disposable income are some of the factors which have increased the prevalence of cardiovascular diseases. According to the World Health Organization (jWHO), around 17.9 million people died from cardiovascular diseases, representing 31% of global death in 2017. Of these deaths, 85% were due to heart attack and stroke. The availability of heart pumps acts as an alternative during the shortage of heart donors, as heart pumps help in pumping the blood to the rest of the body. Thus, the rising prevalence of cardiovascular diseases has expected to boost the demand for heart pump device during the forecasted period.

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Market Restraint:

High Cost Associated with Implantation Procedures

Heart pump device supports the heart function and blood flow among the people with a weak heart. This device is fitted into the patient’s body near the heart through a heart operation. This implantation involves risks such as blood clots, bleeding, infection, device malfunction, and others which may affect the life of the human owing to which this implantation needs to be carried with professionals and in intensive care unit further boosting the cost of implantation. Additionally, as this device is associated to heart function the cost is also relatively high. Thus, the high cost of the device coupled with high-cost implantation procedure is expected to hamper the market growth to some extent.

Heart Pump Device Market: Key Segments

Segmentation based on product: Ventricular Assist Devices (VADs), Intra-aortic Balloon Pumps (IABPs), and Total Artificial Heart (TAH).
Segmentation based on type: Implantable Heart Pump Devices, and Extracorporeal Heart Pump Devices.
Segmentation based on therapy: Bridge-to-transplant (BTT), Bridge-to-candidacy (BTC), Destination Therapy (DT), and Others.
Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.

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Heart Pump Device Market: Report Scope

The report on the heart pump device market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report FeaturesSpecificsHistorical/Estimated/Forecasted Market Size Years2019–2027Base Year for Market Calculation2020Forecasted Period2021–2027 (2021 estimated year, forecasted up to 2027)Measured UnitsValue (USD Million)Segments IncludedProduct, Type, Therapy, and RegionRegional CoverageNorth America, Asia-Pacific, Europe, Middle East & Africa, South America

Key Companies Covered

Medtronic (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
Abbott
Getinge AB
SynCardia Systems, LLC
Teleflex Incorporated
ABIOMED
ReliantHeart Inc.
JARVIK HEART, INC.
Terumo Corporation
Berlin Heart
CardiacAssist, Inc.
Fresenius Medical Car
Other Key Companies

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Heart Pump Device Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Heart Pump Device Market, by Product

Ventricular Assist Devices (VADs)
Left Ventricular Assist Devices (LVADs)
Right Ventricular Assist Devices (RVADs)
Bi-ventricular Assist Devices (BiVADs)
Percutaneous Ventricular Assist Devices (pVADs)
Intra-aortic Balloon Pumps (IABPs)
Total Artificial Heart (TAH)

Heart Pump Device Market, by Type

Implantable Heart Pump Devices
Extracorporeal Heart Pump Devices

Heart Pump Device Market, by Therapy

Bridge-to-transplant (BTT)
Bridge-to-candidacy (BTC)
Destination Therapy (DT)
Others

Heart Pump Device Market, by Region

North America
US
Canada
Mexico
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Europe
Germany
UK
France
Italy
Rest of Europe
Middle East & Africa
Saudi Arabia
UAE
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America

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Table of Content

INTRODUCTION
Research Objectives
Market Definition
Research Scope
Regional Coverage
Research Timeline
Assumptions
Limitations
RESEARCH DESIGN & SCOPE
Introduction
Primary Research
Key Industry Expert Insight
Secondary Research
Vital Data from Secondary Sources
Market Size Estimation
Data Validation & Triangulation
EXECUTIVE SUMMARY
MARKET DYNAMICS
Introduction
Drivers
Rising Prevalence of Cardiovascular Diseases
Huge Gap Between the Demand and Supply of Donor Hearts
Restraint
High Cost Associated with Implantation Procedures
Opportunities
Growth Potential Offered By Emerging Countries
Challenges
Limited Reimbursement for Heart Pump Devices for Destination Therapy
INDUSTRY TRENDS — PORTERS FIVE FORCES ANALYSIS
Introduction
Power of Buyers
Power of Suppliers
Intensity of Competition
Challenges of Substitutes
Challenges of New Entrants
Macro-Economic Indicators
GLOBAL HEART PUMP DEVICE MARKET BY PRODUCT, Market Size in USD Million (2019–2027)
Introduction
Ventricular Assist Devices (VADs)
Left Ventricular Assist Devices (LVADs)
Right Ventricular Assist Devices (RVADs)
Bi-ventricular Assist Devices (BiVADs)
Percutaneous Ventricular Assist Devices (pVADs)
Intra-aortic Balloon Pumps (IABPs)
Total Artificial Heart (TAH)
GLOBAL HEART PUMP DEVICE MARKET BY TYPE, Market Size in USD Million (2019–2027)
Introduction
Implantable Heart Pump Devices
Extracorporeal Heart Pump Devices
GLOBAL HEART PUMP DEVICE MARKET BY THERAPY, Market Size in USD Million (2019–2027)
Introduction
Bridge-to-transplant (BTT)
Bridge-to-candidacy (BTC)
Destination Therapy (DT)
Others
GLOBAL HEART PUMP DEVICE MARKET BY REGION, Market Size in USD Million (2019–2027)
North America
US
Canada
Mexico
Europe
Germany
France
Italy
UK
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Middle East and Africa
Saudi Arabia
UAE
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
COMPETITIVE LANDSCAPE
Introduction
Market Ranking/Share Analysis of Key Companies
Company Benchmarking
COMPANY PROFILES
Medtronic
Company Overview
Financial Overview
Products/Solutions/Services Offered
Key Developments
Abbott
Getinge AB
SynCardia Systems, LLC
Teleflex Incorporated
ABIOMED
ReliantHeart Inc.
JARVIK HEART, INC.
Terumo Corporation
Other Key Companies
APPENDIX
Key Industry Expert Insights
Primary Discussion Guide
Customization Options

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