Global Heart Pump Device Market was valued at US$ 2.23 Billion in 2022, growing at an estimated CAGR of 19.1% from 2023-2031.

A heart pump device, also known as a ventricular assist device (VAD), is a mechanical device implanted in the chest or abdomen to support a weakened heart. It helps pump blood throughout the body, assisting individuals with severe heart failure by enhancing circulation and prolonging life while awaiting transplant or as a long-term therapy.

In the global heart pump device market, Ventricular Assist Devices (VADs) segment is currently dominating. VADs were widely used for various heart failure cases, supported by a growing aging population. For instance, the American Heart Association reported that over 6 million Americans were living with heart failure. VADs like the HeartMate 3 by Abbott gained significant traction.

Global Heart Pump Device Market Revenue & Forecast, (US$ Million), 2015 – 2031

Pandemic Impact Analysis on Global Heart Pump Device Market

Pre-COVID-19, the heart pump device market was steadily growing, driven by rising heart disease cases and advancements in cardiac care. However, the pandemic disrupted supply chains and delayed elective procedures, impacting the market’s growth. Post-COVID-19, the market is rebounding as healthcare systems adapt to the new normal, with a renewed focus on addressing heart health issues. The demand for innovative and life-saving heart pump devices remains robust, particularly as the aging population continues to grow and heart-related conditions persist.

Report Coverage and Deliverables

The increasing incidence of heart diseases is a primary driver of the heart pump device market. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death globally, accounting for 17.9 million deaths annually. As heart-related ailments continue to rise, there is a growing demand for heart pump devices. This demand is fueled by factors like aging populations, sedentary lifestyles, and dietary habits.

For instance, the American Heart Association projected that by 2035, over 130 million adults in the United States would have some form of cardiovascular disease, creating a significant need for advanced heart pump devices. One significant restraint in the market is the high cost of heart pump devices and the budget constraints faced by healthcare systems.

The American College of Cardiology reported that the average cost of a Ventricular Assist Device (VAD) implantation procedure in the US exceeded $280,000. These costs can strain healthcare budgets, limiting access to these life-saving devices. Budget constraints and reimbursement challenges in healthcare systems globally can impede the broader adoption of heart pump devices, especially in regions with limited resources. Balancing affordability and advanced cardiac care remains a significant challenge.

Implantable heart pump devices held the dominant position in the market in 2022. These devices are widely used for both short-term and long-term support in patients with heart failure. The market for these devices has witnessed significant growth, driven by increasing heart failure cases and advancements in VAD technology.

North America registered for 46.5% of the global heart pump device market in 2022. This dominance was attributed to the high prevalence of heart diseases and well-established healthcare infrastructure. For instance, the American Heart Association estimated that over 120,000 Ventricular Assist Devices (VADs) had been implanted in the US by 2020, highlighting the market’s strength in the region.

Competitive Landscape

The report presents a combination of qualitative and quantitative research in the global heart pump device market. It provides in-depth insights into the strategies employed by the leading competitors in the industry for development. Moreover, the report offers a comprehensive analysis of key players in this market, assessing their competitive positions. It delves into their business strategies, including activities such as mergers and acquisitions (M&A), partnerships, collaborations, and contracts. The report examines each company’s global footprint, competitors, range of services, and specifications, among other aspects. Some of the key companies operating in the global heart pump device market are

• Abbott
• ABIOMED
• Berlin Heart
• Fresenius Medical Care AG & Co. KGaA
• Getinge
• Jarvik Heart, Inc.
• LivaNova, Inc.
• Medtronic
• SynCardia Systems, LLC
• Teleflex Incorporated
• Other Industry Participants

Report Summary of Global Heart Pump Device Market

Global Heart Pump Device Market:

By Product

• Ventricular Assist Devices

• • Left Ventricular Assist Devices
  • Percutaneous Ventricular Assist Devices
  • Biventricular Assist Devices
  • Right Ventricular Assist Devices

• Intra-Aortic Balloon Pumps
• Total Artificial Hearts

By Type

• Implantable Heart Pump Devices
• Extracorporeal Heart Pump Devices

By Therapy

• Bridge-To-Transplant (BTT)
• Bridge-To-Candidacy (BTC)
• Destination Therapy (DT)
• Other Therapies

By Region

• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)

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Table of Contents

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**Exclusive for Multi-User and Enterprise User.

Global Heart Pump Device Market Segmentation

By Product

By Type

By Therapy

By Region

**Note: The report covers cross-segmentation analysis by region further into countries

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The Niche Research approach encompasses both primary and secondary research methods to provide comprehensive insights. While primary research is the cornerstone of our studies, we also incorporate secondary research sources such as company annual reports, premium industry databases, press releases, industry journals, and white papers.

Within our primary research, we actively engage with various industry stakeholders, conducting paid interviews and surveys. Our meticulous analysis extends to every market participant in major countries, allowing us to thoroughly examine their portfolios, calculate market shares, and segment revenues.

Our data collection primarily focuses on individual countries within our research scope, enabling us to estimate regional market sizes. Typically, we employ a bottom-up approach, meticulously tracking trends in different countries. We analyze growth drivers, constraints, technological innovations, and opportunities for each country, ultimately arriving at regional figures.Our process begins by examining the growth prospects of each country. Building upon these insights, we project growth and trends for the entire region. Finally, we utilize our proprietary model to refine estimations and forecasts.

Our data validation standards are integral to ensuring the reliability and accuracy of our research findings. Here’s a breakdown of our data validation processes and the stakeholders we engage with during our primary research:

• Supply Side Analysis: We initiate a supply side analysis by directly contacting market participants, through telephonic interviews and questionnaires containing both open-ended and close-ended questions. We gather information on their portfolios, segment revenues, developments, and growth strategies.
• Demand Side Analysis: To gain insights into adoption trends and consumer preferences, we reach out to target customers and users (non-vendors). This information forms a vital part of the qualitative analysis section of our reports, covering market dynamics, adoption trends, consumer behavior, spending patterns, and other related aspects.
• Consultant Insights: We tap into the expertise of our partner consultants from around the world to obtain their unique viewpoints and perspectives. Their insights contribute to a well-rounded understanding of the markets under investigation.
• In-House Validation: To ensure data accuracy and reliability, we conduct cross-validation of data points and information through our in-house team of consultants and utilize advanced data modeling tools for thorough verification.

The forecasts we provide are based on a comprehensive assessment of various factors, including:

• Market Trends and Past Performance (Last Five Years): We accurately analyze market trends and performance data from preceding five years to identify historical patterns and understand the market’s evolution.
• Historical Performance and Growth of Market Participants: We assess the historical performance and growth trajectories of key market participants. This analysis provides insights into the competitive landscape and individual company strategies.
• Market Determinants Impact Analysis (Next Eight Years): We conduct a rigorous analysis of the factors that are projected to influence the market over the next eight years. This includes assessing both internal and external determinants that can shape market dynamics.
• Drivers and Challenges for the Forecast Period:Identify the factors expected to drive market growth during the forecast period, as well as the challenges that the industry may face. This analysis aids in deriving an accurate growth rate projection.
• New Acquisitions, Collaborations, or Partnerships: We keep a close watch on any new acquisitions, collaborations, or partnerships within the industry. These developments can have a significant impact on market dynamics and competitiveness.
• Macro and Micro Factors Analysis:A thorough examination of both macro-level factors (e.g., economic trends, regulatory changes) and micro-level factors (e.g., technological advancements, consumer preferences) that may influence the market during the forecast period.
• End-User Sentiment Analysis: To understand the market from the end-user perspective, we conduct sentiment analysis. This involves assessing the sentiment, preferences, and feedback of the end-users, which can provide valuable insights into market trends.
• Perspective of Primary Participants: Insights gathered directly from primary research participants play a crucial role in shaping our forecasts. Their perspectives and experiences provide valuable qualitative data.
• Year-on-Year Growth Trend: We utilize a year-on-year growth trend based on historical market growth and expected future trends. This helps in formulating our growth projections, aligning them with the market’s historical performance.

Research process adopted by TNR involves multiple stages, including data collection, validation, quality checks, and presentation. It’s crucial that the data and information we provide add value to your existing market understanding and expertise. We have also established partnerships with business consulting, research, and survey organizations across regions and globally to collaborate on regional analysis and data validation, ensuring the highest level of accuracy and reliability in our reports.