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Artificial Heart Market Size, Share, Trends and Revenue Research Report 2022- By Product Type, By Services, By Power Source, By End User- Future Outlook, Business Strategies and Growth Forecast to 2032: SPER Market Research
It is projected that low surgical experience and high implementation costs would stymie industry growth. The development of a technologically cutting-edge healthcare infrastructure and continuing research projects with prominent vendors and international institutions for the development of effective vaccinations will create profitable growth possibilities for the global artificial heart market.
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Artificial Heart Market Overview (2022-2032)
Forecast CAGR (2022-2032): 14.06%
Forecast Market Size (2032): 0.81 billion
Delays in elective procedures brought on by the implementation of COVID-19 have impacted the market for cardiovascular devices like artificial hearts. Only life-threatening surgeries were allowed, and the bulk of cardiac therapies had to be postponed or discontinued since resources had to be shifted to aid patients affected by COVID-19. As a result, the market for artificial hearts was significantly disrupted. The COVID-19 restrictions thus caused a great deal of harm to the. The surge in cardiac treatments, however, is expected to increase the need for artificial hearts.Growing networking and automation needs, need for smart healthcare infrastructure, robots in healthcare applications, and sensor-based devices are all expected to have a significant impact on the Artificial Heart Market during the foreseeable future.
Impact of COVID-19 on the Artificial Heart Market
The introduction of COVID-19 has caused a delay in elective treatments, which has hurt the market for cardiovascular devices like artificial hearts. The market for mechanical hearts was severely impacted since only life-threatening procedures were permitted, and the majority of cardiac treatments had to be postponed or cancelled because resources had to be diverted to help patients afflicted by COVID-19. Therefore, the was considerably harmed as a result of the limits imposed by COVID-19. However, the need for artificial hearts is anticipated to expand as a result of the rise in cardiac procedures. For the anticipated term, it is anticipated that growing need for networking and automation, demand for smart healthcare infrastructure, robotics in healthcare applications, and sensor-based devices would provide enormous potential for the Artificial Heart Market. The worldwide market, however, confronts difficulties since a sizable portion of the world's population, mostly in emerging nations, has yet to obtain these. There is a need for mass production of artificial hearts because to the rise in heart attacks, unhealthy eating habits, and accidents across the world, including a growing population.
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By Product Type:
Heart-Lung Machine
Mechanical Heart
Total Artificial Hearts
Ventricular Assist Devices
Others
By Services:
Batch-Release Testing Services
Bioanalytical Testing Services
Environmental Monitoring Services
Method Development
Microbial Testing Services
Physical Characterization Services
Raw Material Testing Services
Stability Testing
Validation Services
Others
By Power Source:
Internal Battery
External Battery
By End User:
Contract Research Organizations
Hospitals and Clinics
Medical Device Companies
Pharmaceutical and Biopharmaceutical Companies
Specialty Centers
Others
By Region:
Asia-Pacific
Europe
Middle East & Africa
North America
South America
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market's historic and forecast market growth by geography.
Artificial Heart Market Key Players:
The Artificial Heart Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as: Abbott, AbioMed, BiVACOR Inc., Boston Scientific Corporation, CARMAT, Cirtec Medical Systems, Cleveland Heart, CryoLife, Inc., Edwards Lifesciences Corporation, Jarvik Heart, Inc., Medical Technology Est. and Medical Circle, MyLVAD, SynCardia Systems, LLC, Thoratec Corporation.
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