Heart pump devices, also known as ventricular assist devices (VADs), are medical devices used to support patients with advanced heart failure. Their key applications include serving as a bridge-to-transplant or destination therapy for patients ineligible for heart transplantation. Features include miniaturization for less invasive procedures, improved durability for long-term support, and advanced control systems for optimal patient management. These devices assist the heart in pumping blood, providing life-saving support and enhancing the quality of life for patients with severe heart conditions.
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Data Bridge Market Research analyses that the Global Heart Pump Devices Market is valued at USD 2.10 billion in 2021 and is expected to reach USD 9.25 billion by 2029, registering a CAGR of 20.37% during the forecast period of 2022 to 2029. The rising global incidence of heart failure has led to a higher demand for heart pump devices due to their ability to provide effective support for patients with severe heart failure. These devices offer a life-saving solution for individuals who may not be suitable candidates for heart transplantation.
Key Findings of the Study
Technological advancements are expected to drive the market's growth rate
With the surge in streaming platforms for multimedia content, the demand for heart pump device solutions has grown rapidly. Consumers prefer a seamless and cable-free method to enjoy their favorite videos and audio on bigger screens. Heart pump device technologies offer the convenience of mirroring or extending content from mobile devices or laptops to larger displays, enhancing the overall viewing experience. This increased demand highlights the desire for hassle-free content consumption and the adoption of heart pump device solutions as a preferred choice for modern entertainment needs.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product ( Ventricular Assist Devices (VADs), Intra-aortic Balloon Pumps (IABPs), Total Artificial Heart (TAH)), Type ( Implantable Heart Pump Devices, Extracorporeal Heart Pump Devices), Therapy ( Bridge-to-transplant (BTT), Bridge-to-candidacy (BTC), Destination Therapy (DT), Other Therapies)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Terumo Medical Corporation (U.S.), W. L. Gore & Associates, Inc. (U.S.), lepumedical.com (U.S.), Getinge AB (U.S.), Medtronic (U.S.), Abbott (U.S.), Boston Scientific Corporation (U.S.), Edwards Lifesciences Corporation (U.S.), Johnson & Johnson Services, Inc. (U.S.), Berlin Heart (Germany), CardiacAssist, Inc. (U.S.), ReliantHeart Inc. (U.S.), Fresenius Medical Care AG & Co. KGaA (Germany), Jarvik Heart, Inc. (U.S.), SynCardia Systems, LLC (U.S.), ABIOMED (U.S.), HeartWare (U.S.), CryoLife, Inc. (U.S.), and Teleflex Incorporated (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The heart pump devices market is segmented on the basis of product, type, and therapy.
- On the basis of product, the heart pump devices market is segmented into ventricular assist devices (VADs), intra-aortic balloon pumps (IABPs), and total artificial heart (TAH).
- On the basis of type, the heart pump devices market is segmented into implantable heart pump devices, and extracorporeal heart pump devices.
- On the basis of therapy, the heart pump devices market is segmented into bridge-to-transplant (BTT), bridge-to-candidacy (BTC), destination therapy (DT), and other therapies.
Major Players
Data Bridge Market Research recognizes the following companies as the major heart pump devices market players in heart pump devices market are Terumo Medical Corporation (U.S.), W. L. Gore & Associates, Inc. (U.S.), lepumedical.com (U.S.), Getinge AB (U.S.), Medtronic (U.S.), Abbott (U.S.), Boston Scientific Corporation (U.S.), Edwards Lifesciences Corporation (U.S.), Johnson & Johnson Services, Inc. (U.S.)
Market Developments
- In 2021, CARMAT has been granted FDA approval to initiate an Early Feasibility Study (EFS) for its Total Artificial Heart (TAH) in the United States.
- In 2020, FDA granted approval to Abbott for updated labeling of the HeartMate 3 Heart Pump, allowing its use in pediatric patients with advanced refractory left ventricular heart failure.
- In 2020, Abiomed received approval from Japan's Ministry of Health, Labour and Welfare (MHLW) for the use of Impella CP Heart Pumps in the country.
Regional Analysis
Geographically, the countries covered in the heart pump devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the heart pump devices market during the forecast period 2022 - 2029
In 2022, North America dominated the heart pump devices market as age is a significant risk factor for heart-related conditions, the rise in elderly demographics contributes to the demand for heart pump devices as a viable treatment option. Additionally, government initiatives and funding for research and development in advanced medical treatments, including heart pump devices, are propelling market growth. These efforts support the adoption of innovative technologies and medical interventions, driving the expansion of the heart pump devices market in the region during the forecast period.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029
In 2022, Asia-Pacific is expected to witness significant growth as lifestyle-related risk factors contribute to cardiovascular diseases, the growing standard of living, and changing dietary habits are likely to drive the demand for heart pump devices. These medical devices provide essential support to patients with severe heart failure, extending their life expectancy and improving their quality of life. With the growing burden of cardiovascular diseases and higher healthcare spending, the heart pump devices market is expected to witness substantial expansion in the region in the coming years.
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