Artificial Heart Market Expected to Hit $6.79 Billion by 2031- AbioMed, BiVACOR, SynCardia Systems LLC, Jarvik Heart, Inc

Artificial Heart Market is the focal point of DataM Intelligence's latest market research report, offering a comprehensive analysis of this dynamic sector. This in-depth study goes beyond a basic overview, exploring the intricate dynamics that shape the market. By examining regional trends, demand patterns, and potential breakthroughs, DataM Intelligence aims to empower businesses and stakeholders with valuable insights for navigating the evolving landscape. The insights from this report can illuminate pathways for informed decision-making and drive strategic growth in Artificial Heart Market.

The Global Artificial Heart Market reached US$ 2.42 billion in 2023 and is expected to reach US$ 6.79 billion by 2031, growing at a CAGR of 14.5% during the forecast period 2024-2031.

Will the Artificial Heart Market become the sector's next big opportunity? To find out, delve into the analysis and projections for Artificial Heart Market. This market research study offers in-depth insights into the opportunities, challenges, and trends currently shaping the machinery landscape, enabling industry participants to make informed decisions in a dynamic environment. Take advantage of the opportunity in the Artificial Heart Market! (2031)

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An artificial heart is a medical device designed to replace a malfunctioning or diseased heart. It is a mechanical pump that takes over the heart's function of pumping blood throughout the body. Artificial hearts can be used as a temporary solution (bridge-to-transplant) while waiting for a heart transplant or as a permanent solution for patients who are not candidates for transplant. These devices are typically made of biocompatible materials and can be either total artificial hearts, which replace the entire heart, or ventricular assist devices (VADs), which support the function of the existing heart. Artificial hearts aim to improve patients' quality of life and prolong survival in cases of severe heart failure.

Key Growth Drivers in Artificial Heart Market:

The artificial heart market is experiencing significant growth driven by several factors, including the rising prevalence of cardiovascular diseases, advancements in technology, an aging population, sedentary lifestyles, and increased research and development activities.

DataM Intelligence profiles some of the most reputed organizations present in the Artificial Heart market. They are as follows:

AbioMed, BiVACOR, SynCardia Systems LLC, Jarvik Heart, Inc, CARMAT, Medtronic, Abbott, Corwave, Cirtec, Livanova

Segment Covered in the Artificial Heart Market:

By Product Type: Ventricular Assist Devices (VAD), Total Artificial Heart (TAH), Heart Lung Machine, Others

By Application: Dilated Cardiomyopathy, Ischemic Cardiomyopathy, Others

By End User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Others

Regional Analysis:

The global Artificial Heart Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa.

Key Developments

In February 2024, Australia-based BiVACOR was awarded $13 million from the Australian Government's Medical Research Future Fund (MRFF) to advance its total artificial heart program. BiVACOR was selected as part of a A$50 million ($33 million) grant from the government through the Artificial Heart Frontiers Programme (AHFP). The initiative involves a consortium comprising BiVACOR, five universities, and three clinical groups, all working together to develop and commercialize artificial heart technologies.

In March 2023, LivaNova PLC received approval from the U.S. FDA for its Essenz Heart-Lung Machine (HLM), which includes the Essenz Perfusion System. This system allows for a patient-tailored perfusion approach, enhancing clinical workflows and improving the quality of patient care during cardiopulmonary bypass (CPB) procedures.

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Regional Analysis:

The global Artificial Heart Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Artificial Heart Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

Points Covered:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Artificial Heart market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Artificial Heart Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Artificial Heart market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Artificial Heart Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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FAQ's

Q.1. What are the primary drivers of the Artificial Heart Industry?

Q.2. What are the main factors propelling and impeding the growth of the Artificial Heart market?

Q.3. What are the general structure, risks, and opportunities of the market?

Q.4. How do the prices, revenue, and sales of the leading Artificial Heart market firms compare?

Q.5. What are the main segments of the market and how is it divided up?

Q.6. Which companies dominate the market, and what percentage of the market do they control?

Q.7. What trends are influencing the Artificial Heart market now and in the future?

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