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Heart Pump Device Market Insights, Competitive Landscape and Market Forecast-2026

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Heart Pump Device Market Insights, Competitive Landscape and Market Forecast-2026

October 08
22:05 2021
Heart Pump Device Market Insights, Competitive Landscape and Market Forecast-2026

Heart Pump Device Market

Heart Pump Devices Market By Product (Ventricular Assist Devices- Left Ventricular Assist Devices (LVAD), Percutaneous Ventricular Assist Devices (PVAD), Biventricular Ventricular Assist Devices (BIVAD), Right Ventricular Assist Devices (RVAD), And Intra-Aortic Balloon Pumps, Total Artificial Hearts), By Type (Implanted Heart Pump Device, Extracorporeal Heart Pump Device), By Therapy (Bridge-To-Transplant (BTT), Bridge-To-Candidacy (BTC), Destination Therapy (DT)), By End-User (Hospitals, Cardiac Centers, Ambulatory Surgical Centers), By Geography is expected to grow at a steady CAGR Forecast till 2026 owing to Extensive Products in Pipeline and Cardiovascular Disease (CVDS) Prevalence.

 

Heart Pump Device Market Report

Global Heart Pump Devices Market was valued at USD 2.37 billion in 2020, growing at a CAGR of 15.24% during the forecast period from 2021 to 2026, to reach USD 6.36 billion by 2026. The demand for Heart Pump Devices is primarily motivated by the increase in cardiovascular disease (CVDs) prevalence, rise in geriatric population, and various companies with products in their pipeline phase. Heart Pump devices were found to be extremely beneficial in heart failure cases in COVID-19 which further pushed for the demand for these devices in the pandemic situation. Due to a scarcity of heart suppliers, cardiac pumps are an optimal solution that encourages Global market expansion. Factors such as the high cost of the pump and a low repayment scenario in developing countries are nevertheless projected to inhibit the growth of the market.

 

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Region covered

  • Global

 

List of Heart Pump Device companies involved in the report

  • Abbott Laboratories
  • Abiomed, Inc.
  • Teleflex Incorporated
  • SynCardia Systems, LLC
  • St. Jude Medical Inc
  • CARMAT
  • CorWave SA
  • Medtronic Inc.
  • Terumo Heart, Inc.
  • Calon Cardio-Technology Ltd
  • NovaPump GmbH
  • Fresenius Medical Care AG & Co. KGaA
  • Angiodroid srl
  • Getinge AB
  • And many others

 

Heart Pump Devices Market Dynamics

As per the Centres for Disease Control and Prevention (CDC), in 2020, certain risk factors like coronary artery disease (CAD), heart attacks, diabetes, high blood pressure, and obesity increases the risk for heart failure. According to a report from the American Heart Association, 2020, the prevalence of heart failure continues to increase over time, with the aging of the population. An estimated 6.2 million American adults ≥20 years of age had heart failure between 2013 and 2016, compared with an estimated 5.7 million between 2009 and 2012.

 

Heart Pump Devices Market Segment Analysis

Heart Pump Devices by Product (Ventricular Assist Devices- Left Ventricular Assist Devices (LVAD), Percutaneous Ventricular Assist Devices (PVAD), Biventricular Ventricular Assist Devices (BIVAD), Right Ventricular Assist Devices (RVAD), and Intra-Aortic Balloon Pumps, Total Artificial Hearts), Heart Pump Devices market by Type (Implanted Heart Pump Device, Extracorporeal Heart Pump Device), Heart Pump Devices market by Therapy (Bridge-To-Transplant (BTT), Bridge-To-Candidacy (BTC), Destination Therapy (DT)), Heart Pump Devices market by End-User (Hospitals, Cardiac Centres, Ambulatory Surgical Centres), and Heart Pump Devices market by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

 

Heart Pump Devices Market Product Segment

Heart Pump Devices market product segment, Ventricular Assist Devices is expected to hold the largest share and it is one of the fastest-growing segments in this market. It is primarily attributed to technological advancements, the scarcity of organ donors, and the increasing prevalence of heart failure globally. The technologically advanced features like the smaller pump size enable it to be implanted with minimal invasion to provide complete ventricular circulation assistance and reduced hemolysis by providing ample path for circulation, thus accounting for the largest shareholder in the market. There are various types of Ventricular Assist Devices available in the market, such as Left Ventricular Assist Devices, Percutaneous Ventricular Assist Devices, Biventricular Ventricular Assist Devices, and Right Ventricular Assist Devices.

 

Heart Pump Devices Market Recent Developmental Activities

  • In August 2021, the United States Food and Drug Administration (FDA) has granted breakthrough device designation to Abiomed’s Impella ECP expandable percutaneous Heart Pump. The designation means the FDA will prioritize Impella ECP’s regulatory review processes including design iterations, clinical study protocols, and pre-market approval (PMA) application.
  • In February 2021, CARMAT received FDA approval to conduct an Early Feasibility Study (EFS) of its Total Artificial Heart in the US using BlueSync technology.
  • In December 2020, Abbott received FDA approval for the updated labeling for the HeartMate 3 Heart Pump to be used in pediatric patients with advanced refractory left ventricular heart failure.

 

Download free sample copy- https://www.delveinsight.com/sample-request/heart-pump-device-market

 

Table of content

1. Heart Pump Devices Market Report Introduction

2. Heart Pump Devices Market Executive summary

3. Regulatory and Patent Analysis

4. Heart Pump Devices Market Key factors analysis

5. Heart Pump Devices Porter’s Five Forces Analysis

6. COVID-19 Impact Analysis on Heart Pump Devices Market

7. Heart Pump Devices Market layout

8. Heart Pump Devices Global Company Share Analysis – Key 3-5 Companies

9. Heart Pump Devices Company and Product Profiles

10. Project Approach

11. KOL Views

12. DelveInsight Capabilities

13. Disclaimer

14. About DelveInsight 

 

Frequently Asked Questions for Heart Pump Devices Market included in the report

  • What are Heart Pump Devices?
  • What is the market for Global Heart Pump Devices?
  • What are the drivers for Global Heart Pump Devices?
  • What are the key players operating in Global Heart Pump Devices?
  • What regions have the highest share in the Heart Pump Devices market?

 

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