Global Heart Pump Device Market– Industry Trends and Forecast to 2025

Market Analysis: Global Heart Pump Device Market

The Global Heart Pump Device Market is expected to reach USD 6.22 billion by 2025, from USD 1.57 billion in 2017 growing at a CAGR of 18.8% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

Market Definition: Global Heart Pump Device Market

A heart pump is a mechanical pump that is used for the proper functioning of heart and blood flow in people who suffers from weakened hearts disorder. These devices takes blood from a lower chamber of the heart and pumps it to rest of the body and vital organs, just as a healthy heart would do. There are various situations in which the heart is not able to properly pump blood in the whole body and needs external pumping devices.

An individual can be benefited from a Ventricular Assist Device (VAD) too, if there ventricles don’t work properly due to heart disease. A VAD can help to care the heart during or after operation, until the heart recovers. There are two types of VADs that are left ventricular assist devices (LVADs) and right ventricular assist devices (RVADs).

The other types of heart pump devices are categorized as implantable heart pump devices and extracorporeal heart pump devices. All these devices and equipments help in proper functioning of heart.

Major Market Drivers and Restraints:

Rising prevalence of cardiovascular diseases.
Regulatory approval of several new and advanced heart pump devices.
Huge gap between the demand and supply of donor hearts increased investment in healthcare infrastructure in growing economies.
High cost of heart pumps devices as well as implantation procedures.

Market Segmentation: Global Heart Pump Device Market

The global heart pump device market is segmented based on product type, end user, application, distribution channel and geographical segments.
Based on product, the market is segmented into ventricular assist devices (VADs), intra-aortic balloon pumps (IABPs) and total artificial heart (TAH). The ventricular assist devices (VADs) segment is further sub-segmented into left ventricular assist devices (LVADs), right ventricular assist devices (RVADs), Bi-ventricular assist devices (BiVADs) and percutaneous ventricular assist devices (pVADs).
On the basis of type, the market is classified into implantable heart pump devices and extracorporeal heart pump devices.
On the basis of therapy, the market is segmented into bridge-to-transplant (BTT), bridge-to-candidacy (BTC), destination therapy (DT) and other therapies.
Based on geography, the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.

Key Developments in the Market:

According to an article published by the WebMD LLC. New action advances can a ticker to work better, keep them out of the hospital, and improve the quality of life. There are recently launched High-tech implants such as HVAD Pump, HeartMate 3, Cardialen, Watchman, Parachute Implant and others can help doctors to check how the heart is doing in real time, so you can adjust medications to feel better quickly.
According to an article published by ETHealthworld.com, Abbott (U.S.) has launched first smartphone compatible insertable cardiac monitor (ICM) to detect arrhythmias this will provide patients to access to the world’s first and only smartphone compatible ICM.

Competitive Analysis: Global Heart Pump Device Market

The global heart pump device market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of heart pump device market for global, Europe, North America, Asia Pacific and South America.

Major Market Competitors/Players: Global Heart Pump Device Market

Some of the major players operating in the global heart pump device market are Abbott Laboratories, Abiomed, Medtronic, Getinge, Syncardia Systems, Teleflex, Reliantheart, Terumo Europe NV, Berlin Heart, Jarvik Heart, Cardiacassist, Thoratec Corporation, Jarvik Heart, Inc., HeartWare International Inc.,Berlin Heart GmbH, and Getinge AB and Fresenius Medical Care and Syncardia Systems among others.

Research Methodology: Global Heart Pump Device Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. 

Primary Respondents

Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.

Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others

Global Heart Pump Device Market– Industry Trends and Forecast to 2025

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