Heart Pump Device Market Size and Upcoming Technological Innovations Will Boom in 2022-2028 | Analyzed by Size Share, Trends, Key Players & Future Growth Outlook
Leading market players are Medtronic, Abbott, Boston Scientific Corporation, Terumo Medical Corporation, W. L. Gore & Associates, and others
Luton, Bedfordshire, United Kingdom, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Heart Pump Device Market.
The Global Heart Pump Device Market is expected to grow at more than 21% CAGR from 2020 to 2028. It is expected to reach above USD 7 billion by 2028 from a little above USD 1.6 billion in 2020.
Increasing prevalence of cardiovascular infections and rising geriatric population are the major market drivers for the heart pump devices market. Different types of heart pumps are available to support your cardiovascular system, depending on your cardiovascular disease. They are precisely implanted and intended to provide short- or long-term cardiac support to people with weak hearts or unpredictable blood flow. Heart pump devices have long served as a promising treatment option to support mechanical circulation.
Heart failure is a condition in which the heart cannot pump enough blood to meet the body's needs. This condition can be caused by a variety of factors, including coronary artery disease, including previous myocardial infarction (heart attack), high blood pressure, atrial fibrillation, and heart valve infections.
The development of this market is driven by growing speculation, wealth and accolades for heart failure treatment research. increased prevalence of cardiovascular infections; longer waiting times for heart transplantation; Ideal return on investment for heart pump devices.
Medtronic: FDA slaps Class I label on Medtronic's latest heart pump recall
Overview: Even a year after being laid to rest, the troubled Heart Ware Ventricular Assist Device, or HVAD, system is still causing problems for Medtronic.
Boston Scientific Corporation- Boston Scientific Announces FDA Approval of Innovative New Defibrillators And Heart Failure Devices
Overview: Boston Scientific Corporation (NYSE: BSX) has received FDA approval for its latest generation of defibrillators and heart failure devices designed to advance patient care. The newly approved devices include the DYNAGEN™ MINI and INOGEN™ MINI ICDs, as well as the DYNAGEN™ X4 and INOGEN™ X4 CRT-Ds.
Regional outlook-
North America is projected to exhibit the fastest growing CAGR during the forecast period. Because there are many people with cardiovascular problems in this area. Rising mortality from heart failure, especially in developed countries, is expected to open the profitable door for manufacturers of heart pump devices. However, factors such as the cost of critical heart pump equipment and the incompetent repayment situation in developing countries are expected to restrain the market development during the speculation period. In addition, turbulence and high shear stress associated with mechanical heart valves (MHV) and the need for constant anticoagulation therapy by patients hinder market development.
Heart Pump Device Market- Growing competition among key players, increasing horizontal and vertical expansion is further expected to fuel the growth of Heart Pump Device Market. Heart Pump Device Market Scope and Segmentation
Attributes
Details (Current Scenario)
Base-Year
2021
Historic Data
2016-2021
Forecast Period
2022-2028
Heart Pump Device Market Regions Covered
North America
Europe
Asia Pacific
South America
Middle East and Africa
Type Segment
Implantable Heart Pump Devices
Extracorporeal Heart Pump Devices
Therapy Segment
Bridge-To-Transplant (BTT)
Bridge-To-Candidacy (BTC)
Destination Therapy (DT)
Other Therapies
CAGR (Heart Pump Device Market)
21% (Current Market Analysis)
Largest Regional market
33% (North America)
Customization Available
Yes, the report can be customized as per your need. (Free 15% Customization)
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