Heart Pump Device Market Comprehensive Insight by Growth Rate, Industry Status, Forecast till 2029

The global heart pump device market is anticipated to grow at a CAGR of 21.4% during the forecast period (2023-2030). The primary factor supporting the market growth is the continuously rising investments by key players to develop products, and increasing FDA approval. For instance, in May 2023, Magenta Medical closed $55 million funding to support the development of the miniature heart pump. The company intended to advance its clinical programs in the US for receiving its 1st FDA approval. Further, in June 2023, the company initiated its FDA-approved early feasibility study with the Elevate™ percutaneous left ventricular assist device (pLVAD) for the high-risk percutaneous coronary intervention (HR-PCI) indication. The study began with the treatment of two patients of which one in Mount Sinai Health System and one in St. Francis Hospital and Heart Center, both in New York.

In January 2021, CorWave SA raised a funding of worth $40 million from returning investors and 3 new investors. Through this funding, the company intends to develop an implantable heart pump (Left Ventricular Assist Device (LVAD)) based on the wave membrane pump technology. These new funds enabled CorWave to finalize development of its initial product, expanded manufacturing infrastructure, completed regulatory testing required to conduct human implants, and started its human clinical trials. Further, in June 2023, CorWave raised $64M as it prepares to manufacture its LVAD to fund entry into clinical trials and initial manufacturing of its wave membrane LVAD.

In August 2021, the US FDA granted breakthrough device designation to Abiomed's Impella ECP expandable percutaneous heart pump. The FDA prioritize Impella ECP's regulatory review processes including design iterations, clinical study protocols and pre-market approval (PMA) application. Impella ECP is the smallest heart pump in the world and the first to be compatible with small bore access and closure techniques. It measures 9 French (3 millimeters) in diameter upon insertion and removal from the body. While in the heart, it expands to support the heart's pumping function, providing flow greater than 3.5 L/min.

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Market Coverage

• The market number available for - 2022-2030

• Base year- 2022

• Forecast period- 2023-2030

Segment Covered-

• By Technology

• By Application

• By End-Use

Regions Covered-

• North America

• Europe

• Asia-Pacific

• Rest of the World

Competitive Landscape- includes Abbott Laboratories, Berlin Heart GmbH, Boston Scientific Corp., Medtronic plc, Terumo Corp., and others.

Heart Pump Device Market Report Segment

By Type

• Implanted Heart Pump Devices

• Extracorporeal Heart Pump Devices

By Product

• Ventricular Assist Devices

• Left Ventricular Assist Devices (LVAD)

• Right Ventricular Assist Devices (RVAD)

• Bi-Ventricular Assist Devices (BiVAD)

• Percutaneous Ventricular Assist Devices (PVAD)

• Total Artificial Hearts (TAHs)

• Intra-Aortic Balloon Pumps (IABPs)

• Extracorporeal Membrane Oxygenation (ECMO)

By End-Use

• Hospital

• Cardiac Centers

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Heart Pump Device Market Report Segment by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

• Latin America

• Middle East and Africa

Company Profiles

• BiVACOR Inc.

• CardiacAssist, Inc. (TandemLife)

• CARMAT

• CorWave SA

• Evaheart, Inc.

• Fresenius SE & Co. KGaA

• Getinge AB

• Jarvik Heart, Inc.

• Johnson & Johnson Services, Inc.

• Leviticus-Cardio Ltd.

• LivaNova PLC

• ReliantHeart Inc.

• SynCardia Systems, LLC

• Teleflex Incorporated

• Terumo Corp.

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