Artificial Heart Market reached US$ 2.42 billion in 2023 and is expected to reach US$ 6.79 billion by 2031 | AbioMed, BiVACOR, SynCardia Systems LLC.

The Artificial Heart Market report by DataM Intelligence provides insights into the latest trends and developments in the market. This report identifies the key growth opportunities in the market and provides recommendations for market participants to capitalize on these opportunities. Overall, the Artificial Heart market report is an essential resource for market participants who are looking to gain a comprehensive understanding of the market and identify opportunities for growth.

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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.

An artificial heart is a mechanical device designed to replace a person's damaged or failing heart. Typically used as a temporary solution while waiting for a heart transplant, artificial hearts help maintain circulation and oxygenation in the body. These devices are powered by external pumps or batteries and are implanted into the chest. Artificial hearts are a vital innovation in life-saving cardiac care, offering patients an alternative when heart transplantation is not immediately available. Research is ongoing to develop fully functional, long-term artificial heart solutions.

Competitive Landscape

The section also contains information related to the new product launches, mergers, acquisitions, collaborations, etc., to give a clear understanding about the competitive landscape prevailing in the global market. With an emphasis on strategies there have been several primary developments done by major companies such as

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

Key Developments:

❁ In February 2024, BiVACOR, a U.S.-based medtech company, received $13 million from Australia's Medical Research Future Fund (MRFF) to advance its total artificial heart program. The grant was part of the A$50 million ($33 million) Artificial Heart Frontiers Programme (AHFP). The initiative involves BiVACOR, five universities, and three clinical groups in a consortium aimed at developing and commercializing artificial heart technologies, strengthening Australia's leadership in medtech innovation.

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Market Segments

The detailed segmentation offered in the report will help customers get a clear idea about the market segments and the factors that will drive segmental growth. The Artificial Heart market has been segmented

➢ 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

Research Process

Both primary and secondary data sources have been used in the global Artificial Heart Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Regional Analysis for Artificial Heart Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Chapter Outline

⏩ 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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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Artificial Heart market?

➠ Who are the global key manufacturers of the Artificial Heart Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Artificial Heart market opportunities and threats faced by the vendors in the global Artificial Heart Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Artificial Heart market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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