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Heart Pump Device Market: Top Company Profiles, Market Drivers, Restraints, Opportunities and Forecast Analysis

Heart Pump Device Market by Product (Ventricular Assist Devices (LVAD, RVAD, BiVAD, and pVAD), Intra-aortic Balloon Pumps, TAH), Type (Extracorporeal and Implantable Pumps), Therapy (Bridge-to-transplant, Destination Therapy) – Global Forecast to 2026 The global heart pump device market is projected to USD 5.5 billion by 2026 from USD 2.1 billion in 2021, at a CAGR of 21.6% from 2021 to 2026.

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Some of the major players operating in this market are Abbott Laboratories (US), Abiomed (US), Medtronic (Ireland), Teleflex Incorporated (US), and Fresenius Medical Care AG & Co. KGaA (Germany)

List of Companies Profiled in the Report

  • Abbott Laboratories (US)
  • Abiomed (US)
  • Medtronic (Ireland)
  • Teleflex Incorporated (US)
  • SynCardia Systems (US)
  • Fresenius Medical Care AG & Co. KGaA (Germany)
  • Getinge (Sweden)
  • CardiacAssist, Inc. (US)
  • Berlin Heart (Germany)
  • Jarvik Heart, Inc. (US)
  • CARMAT (France)
  • SENKO MEDICAL INSTRUMENT Mfg. CO., LTD. (Japan)
  • Angiodroid (Italy)
  • CardioDyme (US)
  • World Heart Corporation (US).

The Heart Pump Device Market document takes into consideration the market type, size of the organization, availability on-premises, end-users organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa to analyze the data. The report also describes all the major topics of the market research analysis that includes market definition, market segmentation, competitive analysis, major developments in the market, and excellent research methodology. Clients can reveal the best opportunities to be successful in the market with excellent practice models and methods of research used while formulating this Heart Pump Device Market report.

The growth of this market is driven owing to increasing investments, funds, and grants for research on heart failure treatment; rising prevalence of cardiovascular diseases; long waiting periods for heart transplants; favorable reimbursements for heart pump devices; and increasing obesity. Also, promising product pipeline, increasing number of product approvals and emerging markets are anticipated to offer an opportunity for the growth of the market during the forecast period.

“Ventricular assist devices are expected to hold the largest share of the heart pump device market, by product in 2021.”

Based on products, the heart pump devices market is segmented into ventricular assist devices, intra- aortic balloon pumps, and total artificial hearts. Ventricular assist devices are the largest and fastest-growing segment in this market. Growth in this segment can primarily be attributed to technological advancements, the shortage of organ donors, and the increasing prevalence of heart failure globally.

“Implantable heart pump devices are expected to hold the largest share of the heart pump device market, by type in 2021.”

Based on type, the market is segmented into implantable heart pump devices and extracorporeal heart pump devices. In 2020, implantable heart pump devices accounted for the largest share of this market, due to the introduction of innovative products by leading players and the rising need for an efficient solution to manage heart failure.

“Bridge-to-transplant is expected to hold the largest share of the heart pump device market, by therapy in 2021.”

Based on therapy, the market is segmented into bridge-to-transplant (BTT), bridge-to-candidacy (BTC), destination therapy (DT), and other therapies. In 2020, the BTT segment accounted for the largest share of this market. Growing awareness about transplantation and the availability of VADs for BTT have propelled the growth of this segment.

“Europe commanded the largest share of the heart pump device market in 2021.”

On the basis of region, the heart pump device market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2020, Europe commanded the largest share of the heart pump device market. The large share of this market segment can be attributed to the rising adoption of heart pump devices, the high prevalence of CVDs, the growing number of research activities to improve current technologies, and the limited availability of donor hearts for transplants.

Breakdown of supply-side primary interviews, by company type, designation, and region:

  • By Company Type: Tier 1 (20%) , Tier 2 (45%), and Tier 3 (35%)
  • By Designation: C-level (30%), Director-level (20%), and Others (50%)
  • By Region: North America (33%), Europe (24%), AsiaPacific (27%), and Rest of the World (16%)

Research Coverage

This report studies the heart pump device market based on product, type, therapy, and region. The report also analyzes factors (such as drivers, restraints, challenges, and opportunities) affecting market growth. It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total heart pump device market. The report forecasts the revenue of the market segments with respect to four major regions.

Reasons to Buy the Report:

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on heart pump device offered by the top 15 players in the heart pump device market. The report analyzes the heart pump device market product, type, therapy, and region.
  • Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various securement devices across key geographic regions.
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the heart pump device market
  • Competitive Assessment: In-depth assessment of market shares and strategies of the leading players in the heart pump device market

Frequently asked questions

  • What are the growth opportunities in the heart pump device market across major regions in the future?
  • Which product is expected to hold the largest share in the heart pump device market?
  • Which region is anticipated to witness considerable growth in the heart pump device market?
  • Which are the driving factors of the heart pump device market?
  • What is the impact of COVID-19 on the heart pump device market?

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Table Of Contents

1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.2.1 Inclusions & Exclusions Of The Study
1.3 Market Scope
1.3.1 Markets Covered
Figure 1 Heart Pump Devices: Market Segmentation
1.3.2 Years Considered For The Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
1.7 Summary Of Changes

2 Research Methodology
2.1 Research Data
Figure 2 Research Design
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
Figure 3 Primary Sources
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
Figure 4 Breakdown Of Primary Interviews: By Company Type, Designation, And Region
2.2 Market Size Estimation
Figure 5 Bottom-Up Approach
Figure 6 Approach 3: Parent Market Analysis [Active Implantable Medical Devices Market]
Figure 7 Cagr Projections: Supply-Side Analysis
Figure 8 Top-Down Approach
2.3 Market Breakdown And Data Triangulation
Figure 9 Data Triangulation Methodology
2.4 Market Share Analysis
2.5 Assumptions For The Study
2.6 Covid-19 Economic Assessment
2.7 Assessment Of The Impact Of Covid-19 On The Economic Scenario
Figure 10 Criteria Impacting The Global Economy
Figure 11 Recovery Scenario Of The Global Economy

3 Executive Summary
Figure 12 Heart Pump Devices Market, By Product, 2021 Vs. 2026 (Usd Billion)
Figure 13 Heart Pump Devices Market, By Type, 2021 Vs. 2026 (Usd Billion)
Figure 14 Heart Pump Devices Market, By Therapy, 2021 Vs. 2026 (Usd Billion)
Figure 15 Heart Pump Devices Market, By Region, 2021 Vs. 2026 (Usd Billion)

4 Premium Insights
4.1 Heart Pump Devices Market Overview
Figure 16 The Rising Incidence Of Heart Failure Is A Major Factor Driving The Growth Of The Heart Pump Devices Market
4.2 Europe: Heart Pump Devices Market Share, By Therapy (2020)
Figure 17 Btt Therapy Segment Dominated The European Market In 2020
4.3 Geographical Snapshot Of The Heart Pump Devices Market
Figure 18 China To Register The Highest Cagr During The Forecast Period

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 19 Heart Pump Devices Market: Drivers, Restraints, Opportunities, And Challenges
5.2.1 Drivers
5.2.1.1 Increasing Investments, Funds, And Grants For Research On Heart Failure Treatment
5.2.1.2 Rising Prevalence Of Cardiovascular Diseases
Figure 20 Share Of Global Population Aged 65 And Above (2015–2019)
5.2.1.3 Long Waiting Periods For Heart Transplant Procedures
5.2.1.4 Favorable Reimbursements For Heart Pump Devices
Table 1 Cpt Codes For Procedures Related To Ventricular Assist Devices And Tah
Table 2 Cpt Codes For Procedures Related To Iabp
5.2.1.5 Increasing Prevalence Of Obesity
5.2.2 Restraints
5.2.2.1 Complications Associated With Lvad Implantations
5.2.2.2 Lack Of Funding For Destination Therapy
5.2.3 Opportunities
5.2.3.1 Promising Product Pipeline
Table 3 Total Artificial Hearts In Pipeline
5.2.3.2 Increasing Number Of Product Approvals
Table 4 Recent Approvals In The Heart Pump Devices Market, 2018–2020
5.2.3.3 Emerging Markets
5.2.4 Challenges
5.2.4.1 Frequent Product Recalls
Table 5 Key Product Recalls In The Heart Pump Devices Market
5.2.4.2 Stringent Regulatory Requirements Delaying The Approval Of Cardiac Devices
5.3 Supply Chain Analysis
Figure 21 Direct Distribution—The Preferred Strategy Of Prominent Companies
5.4 Value Chain Analysis
Figure 22 Value Chain Analysis: Major Value Is Added During The Manufacturing And Assembly Phases
5.5 Ecosystem Analysis
Figure 23 Ecosystem Analysis Of The Heart Pump Devices Industry
5.5.1 Role In The Ecosystem
5.6 Regulatory Landscape
Table 6 List Of Regulatory Authorities
5.6.1 Eu Regulations
5.6.2 Us Regulations
5.7 Porter’s Five Forces Analysis
5.7.1 Threat From New Entrants
5.7.2 Bargaining Power Of Suppliers
5.7.3 Bargaining Power Of Buyers
5.7.4 Intensity Of Competitive Rivalry
5.7.5 Threat From Substitutes
5.8 Covid-19 Impact Analysis For The Heart Pump Devices Market
Figure 24 Percentage Of Medtronic’s Cardiac And Vascular Group Net Sales, By Division, Fy 2019 Vs. Fy 2020
5.9 Patent Analysis
5.9.1 Ventricular Assist Devices
5.9.2 Total Artificial Hearts
5.9.3 Intra-Aortic Balloon Pumps
5.10 Trade Analysis
5.10.1 Import Data, By Country, 2017–2019 (Usd Million)
5.10.2 Export Data, By Country, 2017–2019 (Usd Million)
5.10.3 Export Data, By Country, 2017–2019 (Kilograms)
5.10.4 Import Data, By Country, 2017–2019 (Kilograms)
5.11 Technology Analysis
5.12 Average Selling Price Trend
Table 7 Average Selling Prices Of Heart Pump Device Products
5.13 Ycc Shift

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