Global Heart Pump Device Market is projected to reach a value of over USD 5.8 billion by 2027
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 surgically implemented in the human body for providing support to normal heart function.
Heart Pump Device Market: Drivers & Restraint
- 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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- 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)
- Getinge AB
- SynCardia Systems, LLC
- Teleflex Incorporated
- 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)
Heart Pump Device Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
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Table of Content
2 Research Design & Scope
3 Executive Summary
4 Market Dynamics
5 Industry Trends — Porters Five Forces Analysis
6 GLOBAL HEART PUMP DEVICE MARKET BY PRODUCT, Market Size in USD Million (2019–2027)
7 GLOBAL HEART PUMP DEVICE MARKET BY TYPE, Market Size in USD Million (2019–2027)
8 GLOBAL HEART PUMP DEVICE MARKET BY THERAPY, Market Size in USD Million (2019–2027)
9 GLOBAL HEART PUMP DEVICE MARKET BY REGION, Market Size in USD Million (2019–2027)
10 Competitive Landscape
11 Company Profiles
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