Heart Pump Devices Market Growth Analysis 2018-2023 Players Evolve are Medtronic, Abbott, Syncardia Systems, Teleflex and Other

Heart Pump Devices Market - Segmentation

The Global Heart Pump Devices Market is segmented by type, product, therapy, and end-user.

Considering type, the market is segmented into implantable heart pump devices and extracorporeal heart pump devices.

By product, the market is segmented into intra-aortic balloon pumps, ventricular assist devices, and total artificial heart. Based on ventricular assist devices, the market is again segmented into right ventricular assist devices, left ventricular assist devices, bi-ventricular assist devices, percutaneous ventricular assist devices, and transcutaneous ventricular assist devices.

With reference to therapy, the market is segmented into bridge-to-candidacy, bridge-to-transplant, destination therapy, and others.

On account of end-user, the market is segmented into hospitals and clinics, research institutes, and ambulatory surgical centers.

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Heart Pump Devices Market - Key Players

Some of the key players in the heart pump devices market are Medtronic, Abbott, Abiomed, Getinge, Syncardia Systems, Teleflex, Reliantheart, Terumo, Berlin Heart, Cardiacassist, and Thoratec Corporation, among others.

Heart Pump Devices Market - Intended Audience

Pharmaceutical Manufacturers and Suppliers
Medical Research Laboratories
Research and Development (R&D) Companies
Market Research and Consulting Service Providers
Potential Investors

Heart Pump Devices Market - Overview

The Heart Pump Devices Market was valued at USD 1,000 million in 2017 and is expected to grow at a CAGR of 12.5% during the forecast period, 2018–2023. The global heart pump devices market is majorly driven by the high prevalence of cardiovascular diseases, growing more elderly population leading to rising patient population affected with heart disorders, and growing penetration by market players. For instance, according to the American Heart Association, in 2014, one in every three deaths in the U.S. was due to cardiovascular disorders. Similarly, cardiovascular disorders had claimed over 801,000 lives in 2014 in the U.S. Additionally, the availability of heart pumps acts as an alternative during a shortage of heart donors, as heart pumps help in pumping the blood to the rest of the body. However, factors such as high cost of heart pump devices are likely to hamper the growth of the market.

Heart Pump Devices Market - Regional Analysis

The Americas dominates the global heart pump devices market owing to the increasing aging population, which eventually leads to the increasing patient population. Additionally, the increasing cardiovascular disorder rate along with rising government initiatives for the research and development of innovative and advanced products are likely to enhance the growth of heart pump devices in the North American region. The American Heart Association estimated that 31% of the deaths in the U.S. were due to cardiovascular disorders in 2015. Similarly, the American Heart Association, funded over USD 163 million during 2015 to 2016 for the research and development of 980 research projects related to cardiovascular disorders. Additionally, the firm stated that cardiovascular disorders claim more deaths than cancer and chronic lower respiratory diseases. These factors are likely to drive the growth of the American heart pump devices market.

Europe accounts for the second largest market due to the increasing rates of cardiovascular disorders and obesity. Additionally, the increasing government support and increasing healthcare infrastructure along with the increasing demand for minimally invasive treatments are driving the growth of the heart pump devices market in Europe. For instance, Eurostat estimated that over 19.2% of the population in Europe was aged 65 and above. This increasing older population is likely to lead to the rising patient population. These factors are likely to drive the growth of the heart pump devices market.

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Asia Pacific is the fastest growing market for heart pump devices whose growth is attributed to the rising population and improved standard of living. Additionally, the increasing healthcare spending and demand for new and innovative treatment options are likely to drive the growth of the market. India and China are the major contributors to the market growth due to the rapid development of healthcare infrastructure in these regions and increasing demand for diagnostic services.

On the other hand, the Middle East and Africa is expected to witness slow growth due to limited access to healthcare facilities and affordability issues among the population. In the Middle East, the growth of the market is driven by the increasing availability of new and advanced diagnostic and treatment methods for various chronic diseases.

Major Table of Content

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

Continued….

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