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Artificial Heart Market To Show Tremendous Rise In Upcoming Year
• An artificial heart (or more specifically total artificial heart) is a pump surgically installed to provide circulation and replace heart ventricles that are diseased or damaged. The ventricles pump blood out of the heart to the lungs and other parts of the body. Machines outside the body control the implanted pumps, helping blood flow to and from the heart.
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• The artificial heart acts as a type of mechanical circulatory support system
• Artificial heart is considered in many ways a technology marvel in clinical history, notwithstanding the many limitations pertaining to functionalities, and is usually used in case of patients suffering from end-stage biventricular heart failure awaiting transplantation.
• Demand for artificial heart is high among patients for whom heart transplantation surgery may not be appropriate. However, the artificial heart is yet to gain traction in the medical sector, with the implantation done only in a small subset of patients requiring transplantation.
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Key Drivers and Restraints of Global Artificial Heart Market
• Rise in global burden of cardiovascular diseases along with its increase in mortality rate in geriatric population is a key factor boosting the growth of the global artificial heart market
• According to the World Health Organization (WHO), cardiovascular diseases account for nearly 17.9 million deaths every year, which is estimated to be 31% of all global deaths. Rise in number of people suffering from cardiovascular diseases can be attributed to sedentary lifestyle along with smoking, tobacco & alcohol consumption, and unbalanced diet. Hence, rise in prevalence of cardiovascular diseases is projected to fuel the growth of the global market during the forecast period.
• According to the World Health Organization (WHO), population aged 60 years and above is anticipated to rise from 900 million in 2015 to 2 billion in 2050. Increase in the geriatric population leads to surge in incidence of age-related problems such as cardiovascular diseases and respiratory diseases. This is expected to boost the growth of the global artificial heart market.
• Surge in global patient population with end-stage heart failure, including congestive heart failure, coupled with the paucity of transplants available is a major factor driving the demand for artificial heart. Together with various cardiac-assist devices, artificial heart plays a vital clinical role in managing end-stage heart failure in the patient population.
• Artificial heart is emerging as a viable option for patients with acute biventricular dysfunction.
• Relentless efforts made by researchers and substantial development activities by device makers are focused on increasing the durability of mechanical circulatory support. This has a direct bearing on improving the functionality of these synthetic heart replacement. The lack of timely availability of heart donors is also a key aspect catalyzing the demand for artificial heart implantation.
• Several concerns inhibit the commercialization of artificial hearts. The key factor is limited durability and longevity marred by faults, either in membrane or power source.
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North America to Lead Global Artificial Heart Market
• In terms of region, the global artificial heart market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• Developed regions such as North America and Europe have vast appetite for technology in the medical sector and are expected to present attractive opportunities during the forecast period. Moreover, increase in research & development leading to product evolution drives the artificial heart market in the region.
• The market in Asia Pacific is expected to grow at a rapid pace during the forecast period due to rise in prevalence of cardiovascular diseases and increase in the geriatric population
• The market in Middle East & Africa and Latin America is likely to witness sluggish growth owing to weak economic development and less research & development activities
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Key Players Operating in Global Artificial Heart Market
Key players operating in the global artificial heart market are:
• SynCardia Systems, LLC
• CARMAT SA
• BiVACOR, Inc.
• Jarvik Heart, Inc.
• Others
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