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Blossoming Heart Pump Devices Market: CAGR 18.8% Growth Predicted Driven by Innovations and Increasing Prevalence of Cardiovascular Disorders
Blossoming Heart Pump Devices Market
What Is The Projected Market Size Of The Global Heart Pump Devices Market And Its Growth Rate?
The escalating growth of the Heart Pump Devices Market is clearly evidenced by impressive market figures and projected growth rates:
• Market size in 2024: $3.79 billion
• Projected Market Size in 2025: $4.5 billion (CAGR 18.8%)
• Projected Market Size in 2029: $8.86 billion (CAGR 18.4%)
The growth is driven by factors such as increased prevalence of cardiovascular diseases, improved surgical techniques, aging population, and rising global healthcare expenditure among others.
What Is Driving The Growth In The Heart Pump Devices Market?
The increasing prevalence of cardiovascular disorders is expected to fuel the heart pump devices market. With these disorders often affecting the heart or blood vessels, the demand for advanced diagnostics and treatments such as heart pump devices that help pump blood during high-risk protected percutaneous coronary interventions rises. For instance, in 2023, over 1,862,500 people were diagnosed with Coronary Heart Disease (CHD) in England, according to data from the Office for Health Improvement and Disparities.
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Who Are the Key Players Driving Heart Pump Devices Market Growth?
Notable companies contributing to the heart pump devices market are:
• MedtronicPLC
• Abbott Laboratories
• Boston Scientific Corporation
• Terumo Corporation
• Getinge AB,
• Cardiomedix
• SynCardia Systems
• CARMAT
• BiVACOR
• HeartWare International
• CorWave
What Are The Key Trends In The Heart Pump Devices Market?
Key trends shaping the forecast period and beyond include:
• Technological advancements
• Remote monitoring and connectivity
• Long-term mechanical support
• Miniaturization and portability
• Artificial intelligence integration
What Are The Segments Of The Global Heart Pump Devices Market?
The Heart Pump Devices market is segmented by:
• Type: Implantable Heart Pump Devices, Extracorporeal Heart Pump Devices
• Therapy: Bridge-To-Transplant (BTT), Bridge-To-Candidacy (BTC), Destination Therapy (DT), Other Therapies
• End-user: Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Other End-users
Which Region Leads The Heart Pump Devices Market?
North America holds the largest market share in the heart pump devices market in 2024. However, all regions globally, including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa, are experiencing rapid growth in this market.
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What Is Covered In The Heart Pump Devices Market Global Market Report?
- Market Size Analysis: Analyze the Heart Pump Devices Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Heart Pump Devices Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Heart Pump Devices Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Heart Pump Devices Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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