Artificial Heart Market Set to Skyrocket After Historic 100-Day Titanium Heart Success | Most Leading Companies - AbioMed, BiVACOR, SynCardia Systems LLC, Jarvik Heart, Inc, CARMAT, Medtronic, Abbott

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.

Artificial Heart Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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An Artificial Heart is a medical device designed to replace the function of a failing human heart, either temporarily or permanently. It is typically used in patients with severe heart failure who are awaiting a heart transplant or those who are ineligible for one. Artificial hearts can be fully implantable or external and work by mimicking the pumping action of a natural heart to maintain blood circulation.

➠ Recent News:

➠ Man survives with titanium heart for 100 days - a world first

➠ An Australian man in his forties has made history as the first person in the world to be discharged from the hospital with a titanium artificial heart. Designed as a life-saving bridge for patients awaiting a donor heart, this groundbreaking device had previously only been used in US hospitals, where recipients remained under medical care.

List of the Key Players in the Artificial Heart Market:

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

Industry Development:

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

In March 2023, LivaNova PLC received approval from the US FDA for its Essenz Heart-Lung Machine (HLM), which includes the Essenz Perfusion System. This system enhances clinical workflows and improves patient care quality during cardiopulmonary bypass (CPB) procedures by enabling a patient-tailored perfusion approach.

Growth Forecast Projected:

The Global Artificial Heart Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

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.

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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 for Artificial Heart Market:

The regional analysis of the Artificial Heart Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ 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)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

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

➠ Who are the leading manufacturers in the global Artificial Heart industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Artificial Heart industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Artificial Heart market?

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

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