Heart Pump Devices Market is expected to exceed the market valuation of more than US$ 6 billion by 2027 expanding at a reasonable CAGR of around 18.9% during the forecast period (2021-2027). Heart Pump Devices help the heart pump blood from the heart to different part of body. Heart pumps are made of material that allows the blood to be pumped through the blood vessels and ensures no coagulation takes place. The material should be biocompatible, otherwise the pump would not function properly. Additionally, considering possible chances of rejection, the device should be as compact as possible. There are two main types of heart pumps, pulsatile and rotary (continuous) blood pumps (axial and centrifugal). There are numerous continuous heart pumps in the market as compared to pulsatile heart pumps. The Pump sizes of these heart pumps can range from 25 to 1190 grams. Blood Pumps are required to perform at mean pressure of 100 and 20 mmHg for LVAD and RVAD respectively and the mean blood rate of 5L/min to support an adult at rest.
A total of 25,145 adults received FDA approved MCSD in STS Intermacs between 2006 to 2017. Most of the devices i.e., 19,206 were CF LVADs. 667 of these also had a concomitant or secondary right VAD (RVAD) support. Out of all the patients 18.5% (4,656 patients) were required an additional LVAD due to the failure of the initial device that required replacement. Out of the remaining patients (74%), 14,527 patients received an axial flow LVAD, 3,853 received a mixed magnetic and hydrodynamic levitation centrifugal LVAD, and 159 received full magnetic levitation, centrifugal flow LVAD. The usage of magnetic levitation LVADs are expected to increase in the coming years. As of 2017, 51% centrifugal flow LVADs were used as compared to 49% axial flow devices.
All industries have suffered some form of loss due to the pandemic. In addition to this the pandemic has also cost many lives. Till date there have been 177,470,620 covid-19 cases in the world and 3,839,931 deaths. A few studies have also reported other hidden symptoms of Covid-19 that can affect few individuals. The Coronavirus can cause cardiovascular conditions in individuals which can lead to the weakening of the biventricular function and leads to a higher mortality rate. In 4-50% of the cases, right ventricular failure can be a consequence of LAVD implantation. In a study from China, the mortality rate of LVAD patients was given 21.4%, on the other hand the general mortality rate was 2.3%. This huge variation in people with LVAD implants is a huge concern during covid-19. With a little relief of Covid-19, operational procedures are re-opening and people needing heart pumps or other implants can get them now. With the business going back to normal around the world, the heart pump market is expected to gain back its momentum in the market very fast.
Based on product, the heart pump devices market is segmented into ventricular assist devices (VADs), intra-aortic balloon pumps (IABPs) and total artificial heart (TAH). Ventricular assist devices are further segmented into left ventricular assist devices (LVADs), right ventricular assist devices (RVADs), bi-ventricular assist devices (BiVADs) and percutaneous ventricular assist devices (pVADs). The number of patients with heart failure is rising and because of that there is a shortage in organ donors. 43% of the patients between 2009 and 2016 were bridged with some type of heart pump device. In the United States between 2007 and 2017, 50% of the heart transplant patients were implanted with ventricular assist device.
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Based on type, the heart pump devices market is bifurcated into implantable heart pump devices and extracorporeal heart pump devices. Implantable heart pump devices held the largest share in this segment. In an interview with the CEO of Corvion, it was stated that more number of people can benefit from heart pump devices than that are currently implanted. Currently only 10,000 LVADs are implanted per year whereas, there are potentially 100,000 to 300,000 patients who can benefit from these devices. The market is expected to grow as more devices get approved.
Based on therapy, the heart pump devices market is segmented into bridge-to-transplant (BTT), bridge-to-candidacy (BTC), destination therapy (DT) and other therapies. Bridge-to-transplant therapies are used to support patient with heart failure, who are waiting for donor. This therapy allows the body systems to heal, rest and grow stronger before the actual transplant. Every year more than 5,000 people undergo heart transplants, however, the number of patients requiring a cardiac transplant goes up to 50,000 people, as of 2019. This number can be managed with the help of bridge-to-transplant and other heart pump devices.
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Additionally, the report provides detailed initiatives that are being taken in the field of Heart Pump Devices, globally. The report provide a detailed analysis of regions including North America (the U.S, Canada, and Rest of North America), Europe (Germany, France, Spain, Italy, UK, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and the Rest of the World. North America dominated the market in 2020, with X% share. Abbott Laboratories, Abiomed, Medtronic, Teleflex Incorporated, SynCardia Systems, Fresenius Medical Care AG & Co. KGaA, Getinge, CardiacAssist, Inc., Berlin Heart, and Jarvik Heart, Inc. are some of the prominent players operating in the global Heart Pump Devices market. Several M&As along with partnerships have been undertaken by these players to make Heart Pump Devices as cost-effective and as widely available as possible.
Global Heart Pump Devices Market Segmentation
Market Insight, by Product
Market Insight, by Type
Market Insight, by Therapy
Market Insight, by Region
Top Company Profiles
Table of Content –
1 Market Introduction
2 Research Methodology Or Assumption
3 Industry Performance
4 Executive Summary
5 COVID-19 Impact
6 Market Insights By Product
7 Market Insights By Type
8 Market Insights By Therapy
9 Market Insights By Region
10 Legal And Regulatory Framework
11 Demand And Supply Side Analysis
12 Value Chain Analysis
13 Heart Pump Device Market Trends & Insights
14 Heart Pump Device Market Dynamics
15 Competitive Scenario
16 Company Profiled
Final Report will add the analysis of the impact of COVID-19 on this industry.”
In the highly import dependent Indian medical devices market, a large number of indigenous manufacturers of syringes & needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.
The report provides a snapshot of the syringes & needles market. It begins with the introduction section which mentions the features and uses of syringes & needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes & needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.
An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes & needles and problems associated with usage. Government legislation in the market has been discussed in the next section.
The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.
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A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:
What is the aim of the report?
What aspects regarding the regional analysis Market are included in this report?
What is the key information extracted from the report?
- The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities.