Heart Pump Device Market is expand at a CAGR of 19.1% to reach USD 14.4 billion by 2032 - Abbott Laboratories, Abiomed, Medtronic, Teleflex Incorporated

The global Heart Pump Device Market was valued at USD 2.5 billion in 2022, and it is anticipated to reach up to USD 14.4 billion by 2032, at a CAGR of 19.1% during the forecast period.

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Millions of individuals around the world suffer from heart failure, which kills more people annually than all forms of cancer combined. Since there aren't enough donors for heart transplants, using a reliable mechanical circulatory support system could lengthen patients' lives and ease their pain.

This device can be inserted into either the left or right ventricle of your heart, although the left ventricle is where it is most usually utilized.

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If a patient suffers heart failure and is not a suitable candidate for a heart transplant, the doctor may recommend having a VAD implanted as a long-term treatment. If you have severe heart failure, the procedure to install these devices-which necessitates open-heart surgery and carries significant risks and complications-can save your life. Following the implants, the patient must visit the doctor to discuss how the device is performing and, if necessary, any issues.

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Market Trends and Drivers

Due to the rising prevalence of CVDs and heart failure over the past several years, there has been a major increase in the demand for heart transplants. However, a global shortage issue has emerged due to the lack of sufficient hearts for transplantation to fulfill the current demand. There were roughly 3,980 candidates on the heart transplant waiting list as of March 2018, according to the national database maintained by the Health Resources and Services Administration (US).

Significant variations in the number of donors and patients on waiting lists have been seen, even at the national level. For instance, in Australia, there were around 1,650 people on the waiting list for a heart transplant in 2020, but there were only 463 donors available (Source: Transplant Australia Ltd). According to the Transplant Activity Report 2018/19, since 2010, there have been 134 percent more people active on waiting lists for heart transplants.

In this situation, there has been a rise in both the number of people waiting for transplants as well as the number of people passing away while on the list. Advanced heart failure (HF) management using LVADs as a bridge to transplantation (BTT) or destination therapy has become critical (DT). The need for mechanical circulatory support (MCS) devices used in these patients has increased as a result of organ shortages, the rise in end-stage HF patients, and technological advancements in MCS. 43 percent of recipients had some combination of MCS, LVAD, RVAD, TAH, and ECMO between 2009 and 2016. In the US, VADs were implanted in 50% of all adult heart transplant recipients between 2007 and 2017.

When a patient is not a candidate for a heart transplant, these devices also serve as a permanent solution, giving them the assistance, they need while they wait. In light of this, it is anticipated that the market for heart pump devices would expand over the next few years due to the substantial gap between the demand and availability of donor hearts.

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Global Heart Pump Device Market Segmentation

By Product

Ventricular Assist Devices
Intra-Aortic Balloon Pumps
Total Artificial Hearts

By Type

Implanted Heart Pump Device
Extracorporeal Heart Pump Device

By Therapy

Bridge-to-Transplant (BTT)
Bridge-to-Candidacy (BTC)
Destination Therapy (DT)
Other Therapies

Major Players in the Global Heart Pump Device Market

The key players studied in the report are Abbott Laboratories, Abiomed, Medtronic, Teleflex Incorporated, SynCardia Systems, Fresenius Medical Care AG & Co. KGaA, Getinge, CardiacAssist, Inc., Berlin Heart, Jarvik Heart, Inc., CARMAT, SENKO MEDICAL INSTRUMENT Mfg. CO., LTD., Angiodroid, and CardioDyme among others.

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