Global Centrifugal Blood Pump Market is likely to reach a worth of US$ 184.5 Million, growing at a CAGR of 4% by the forecast period ending 2033 | Data by Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
6 min read
Future Market Insights Global and Consulting Pvt. Ltd.
China Centrifugal Blood Pump Market is expected to grow at a CAGR of 5.40% in the assessment period 2023 to 2033. The United States Centrifugal Blood Pump Market is expected to grow at a CAGR of 4.9% in the assessment period 2023 to 2033
NEWARK, Del, April 20, 2023 (GLOBE NEWSWIRE) -- The global centrifugal blood pump market was worth US$ 124.6 million in 2023 and is predicted to be worth US$ 184.5 million by 2033, growing at a CAGR of 4.0% during the forecast period.
The prominent driver of the market growth is the increasing prevalence of cardiovascular diseases, which has led to a rise in the number of cardiac surgeries being performed. The use of centrifugal blood pumps has become a vital component in these surgeries, thereby fueling the market growth.
The increasing adoption of minimally invasive surgical procedures is also a driver for the centrifugal blood pumps market. Minimally invasive techniques have become more popular among patients and healthcare providers due to the lower risk of complications and faster recovery times. Centrifugal blood pumps are often used in these procedures due to their ability to provide precise and controlled blood flow.
In terms of opportunities, there is a growing demand for portable centrifugal blood pumps that can be used in ambulatory care settings or during transport. These pumps offer several benefits such as ease of use, reduced risk of infection, and cost-effectiveness.
There is also a trend towards the development of smart centrifugal blood pumps that can integrate with other medical devices and provide real-time monitoring and feedback. These pumps are designed to improve patient outcomes and reduce the risk of complications during surgery.
Key Takeaways from the Market Study
FMI projects the global centrifugal blood pump market to expand at a 4.0% value CAGR by 2033
The global centrifugal blood pump market is expected to garner a market value of US$ 184.5 million.
North America is expected to grow at a CAGR of 40.9% in the assessment period 2023 to 2033
The hospitals segment is expected to hold the largest market share for Centrifugal Blood Pump in the forecast period 2023 to 2033.
“The centrifugal blood pump market is being driven by the increasing demand for mechanical circulatory support devices for pediatric patients with heart failure,” says the FMI analyst
The centrifugal blood pumps market is a highly competitive space with numerous eminent players vying for market share. The leading players in the market include:
Medtronic
Abbott
Terumo Corporation
Qura Srl
Braile Biomedica Ltd.
LivaNova, PLC
XENIOS AG (Fresenius Medical Care Company)
Getinge AB
Key developments in the market are as follows:
In January 2023, Abbott, a global healthcare leader, and Blood Centers of America have partnered to launch a first-of-its-kind mixed reality experience aimed at enhancing the blood donation process. The innovative technology integrates virtual reality with real-world experiences to help reduce anxiety and increase donor engagement.
The program utilizes Microsoft's HoloLens technology to provide a unique and immersive experience for donors, allowing them to interact with virtual elements while donating blood. This initiative represents a significant step forward in enhancing the blood donation experience, encouraging more people to donate blood and ultimately helping to save more lives.
Key Segments Profiled in the Centrifugal Blood Pump Market Industry Survey
Have a Look at Related Reports of the Healthcare domain
Pulse Lavage Market Size: As per FMI, the global pulse lavage market is predicted to witness US$ 356.9 Million in 2022 and is expected to exhibit a CAGR of 8.2% from 2022 to reach US$ 785 Million by 2032.
Abdominal Closure Systems Market Share: The global abdominal closure systems market is forecasted to account for a sizeable market share of US$ 293.72 Million by 2032, up from US$ 125.97 Million in 2022.
High-Resolution Anoscopy Market Demand: The global high-resolution anoscopy market is poised to register a CAGR of 6% to reach a valuation of US$ 24.95 Billion by 2032, up from US$ 13.93 Billion in 2022.
Thyroid Function Tests Market Forecast: The thyroid function tests market is anticipated to grow at an average rate with a CAGR of 4.2 % during the forecast period 2022 to 2032.
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, US, and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
