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Heart Pump Device Market Size, Analysis, Demand to 2033
Heart Pump Device Market Size
Heart Pump Devices Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $116.91 billion In 2028 At A CAGR Of 30.4% :
The heart pump devices market size has grown rapidly in recent years. It will grow from $3.25 billion in 2023 to $3.88 billion in 2024 at a compound annual growth rate (CAGR) of 19.6%. The growth in the historic period can be attributed to increased prevalence of cardiovascular diseases, aging population, awareness and education, government initiatives and funding, improved surgical techniques.
The heart pump devices market size is expected to see rapid growth in the next few years. It will grow to $7.58 billion in 2028 at a compound annual growth rate (CAGR) of 18.2%. The growth in the forecast period can be attributed to rising global healthcare expenditure, emerging markets and untapped opportunities, personalized medicine and customization, increasing regulatory approvals, growing patient awareness. Major trends in the forecast period include technological advancements, remote monitoring and connectivity, long-term mechanical support, miniaturization and portability, artificial intelligence integration.
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Heart Pump Devices Market Major Segments
The heart pump devices market covered in this report is segmented -
1) By Type: Implantable Heart Pump Devices, Extracorporeal Heart Pump Devices
2) By Therapy: Bridge-to-Transplant (BTT), Bridge-to-Candidacy (BTC), Destination Therapy (DT), Other Therapies
3) By End-user: Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Other End-users
Key Driver - Increasing Prevalence Of Cardiovascular Disorders
The increasing prevalence of cardiovascular disorders is expected to propel the heart pump devices market going forward. Cardiovascular disorders refer to a term for the conditions affecting the heart or blood vessels. The rise in cardiovascular diseases would require advanced diagnostics and treatments such as heart pump devices that help pump blood from the lower left heart chamber that is used to help maintain blood flow during high-risk protected percutaneous coronary interventions, which would increase the demand for the market. For instance, a World Health Organization (WHO) study from 2021 estimates that 17.9 million people worldwide died from cardiovascular diseases (CVDs) in 2019, accounting for 32% of all deaths and 85% of these deaths were due to heart attacks and strokes. Therefore, the increasing prevalence of cardiovascular disorders is driving the growth of the heart pump devices market.
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Prominent Trend - Rising Investments To Develop Heart Pumps
Investments in developing innovative heart pumps are a key trend gaining popularity in the heart pump devices market. Major companies operating in the heart pump devices market are investing in heart pumps to sustain their position in the market. For instance, in January 2021, CorWave, a France-based company that develops innovative heart pumps invested $40 million in the development of an implantable heart pump with breakthrough technology, a wave membrane pump. This investment helps in the initial development of the product, manufacturing infrastructure, and to complete regulatory testing required to conduct human implants and start its human clinical trials.
Heart Pump Devices Market Players
Major companies operating in the heart pump devices market report are Archer-Daniels-Midland Company, BASF SE, The DOW Chemical Company, Bio-Chem Technology Group Co. Ltd., LyondellBasell Industries N.V., Huntsman Corporation, SKC CO. Ltd., INEOS Group Holdings Limited, Manali Petrochemicals Limited, DowDuPont Inc., Royal Dutch Shell plc, ADEKA Corporation, Chaoyang Chemicals Inc., Temix International SRL, Helm AG, Repsol S.A., Arch Chemicals Inc., HaiKe Chemical Group, Global Bio-chem Technology Group Co. Ltd., DuPont Tate & Lyle Bio Products LLC, Flint Group Holdings Limited, Hubergroup Deutschland GmbH, Wikoff Color Corporation, Zeller+Gmelin GmbH & Co. KG, Marabu GmbH & Co. KG, Nutec Digital Ink Ltd., Chemicoat Co. Ltd., Oleon NV, Penta Manufacturing Company, Kraft Chemical Company,
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Largest And Fastest Growing Region In The Market
North America was the largest region in the heart pump devices market share in 2023. The regions covered in the heart pump devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Heart Pump Devices Market Report Structure
3. Heart Pump Devices Market Trends And Strategies
4. Heart Pump Devices Market - Macro Economic Scenario
5. Heart Pump Devices Market Size And Growth
…..
27. Heart Pump Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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