Mechanical Circulatory Support Devices Market Forecast: What to Expect by 2029
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#What Is The Projected Market Size Of The Mechanical Circulatory Support Devices Market By 2029?
The mechanical circulatory support devices market size has seen rapid growth in recent years. It is anticipated to expand from $3.14 billion in 2024 to $3.47 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.4%. This historical growth can be attributed to the increasing prevalence of end-stage heart failure, improved survival rates following surgery, a rise in bridge-to-transplant procedures, enhanced awareness among cardiologists, and an expanding global aging population.
The mechanical circulatory support devices market is projected to experience substantial expansion over the coming years, reaching $5.08 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 10.0%. This anticipated growth during the forecast period is driven by several factors, including the increasing prevalence of cardiovascular diseases, greater uptake of destination therapy, a global rise in healthcare spending, an increase in clinical trials for advanced devices, supportive regulatory frameworks, and a scarcity of heart donors for transplant procedures. Key trends anticipated during this period encompass the creation of entirely implantable ventricular assist device (VAD) systems, the incorporation of smart sensors into these devices, the use of artificial intelligence for monitoring, innovations in magnetically levitated pumps, and the formulation of biocompatible polymers and coatings.
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What Are The Main Drivers Boosting The Mechanical Circulatory Support Devices Industry’s Expansion?
The growing occurrence of heart failure is anticipated to fuel the expansion of the mechanical circulatory support devices market. This chronic ailment describes a condition where the heart is unable to pump sufficient blood to meet the body’s demands. The increase in heart failure cases is largely attributed to an aging demographic, as older individuals are more susceptible to cardiovascular illnesses and their complications. Mechanical circulatory support devices aid patients with heart failure by assisting the heart’s pumping function, enhancing blood circulation, and lessening the strain on the impaired heart. As an illustration, the Heart Failure Society of America (HFSA), a US-based non-profit organization, reported in September 2024 that heart failure currently impacts 6.7 million Americans over 20, with projections indicating an increase to 8.7 million by 2030, 10.3 million by 2040, and a substantial 11.4 million by 2050. Consequently, the increasing incidence of heart failure is acting as a primary catalyst for the growth of the mechanical circulatory support devices market.
What Are The Segment Types Shaping The Mechanical Circulatory Support Devices Market?
The mechanical circulatory support devices market covered in this report is segmented
1) By Type: Intra-Aortic Balloon Pump, Ventricular Assist Device, Total Artificial Heart, Extracorporeal Membrane Oxygenation
2) By Technology: Pulsatile Flow Devices, Non-Pulsatile Flow Devices
3) By Application: Cardiac Surgery, Heart Failure Management, Myocardial Infraction, Cardiogenic Shock
4) By End User: Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Other Healthcare Facilities
Subsegments:
1) By Intra-Aortic Balloon Pump: Percutaneous Intra-Aortic Balloon Pump, Surgical Intra-Aortic Balloon Pump
2) By Ventricular Assist Device: Left Ventricular Assist Device, Right Ventricular Assist Device, Biventricular Assist Device
3) By Total Artificial Heart: Pneumatic Total Artificial Heart, Electric Total Artificial Heart
4) By Extracorporeal Membrane Oxygenation: Venoarterial Extracorporeal Membrane Oxygenation, Venovenous Extracorporeal Membrane Oxygenation
What Trends Are Expected To Drive The Mechanical Circulatory Support Devices Market?
Major companies operating in the mechanical circulatory support devices market are actively pursuing the development of advanced technologies, such as magnetically levitated rotor (MAGLEV) technology, to equip patients with more reliable and efficient devices that enhance heart function and improve survival rates. Magnetically levitated rotor (MAGLEV) technology utilizes magnetic fields to suspend and spin a rotor without physical contact, thereby reducing friction and wear for smoother, longer-lasting device performance. For instance, in July 2024, BiVACOR Inc., a US-based clinical-stage medical device company, launched the first-in-human implantation of its Total Artificial Heart (TAH). This innovative device is engineered to completely replace both ventricles of a failing heart in patients with severe biventricular or univentricular heart failure who are not eligible for conventional left ventricular assist devices, providing a vital bridge-to-transplant solution with the potential to improve survival and quality of life for thousands of patients facing limited treatment options due to the scarcity of donor hearts.
Who Are The Prominent Global Companies Shaping The Mechanical Circulatory Support Devices Market?
Major companies operating in the mechanical circulatory support devices market are Johnson & Johnson, Abbott Laboratories, Medtronic Plc, Fresenius Medical Care AG & Co. KGaA, Boston Scientific Corporation, Terumo Corporation, Teleflex Incorporated, Getinge AB, LivaNova PLC, Supira Medical Inc., BrioHealth Solutions Inc., Magenta Medical Ltd., CorWave SA, Jarvik Heart Inc., Carmat SAS, Procyrion Inc., BiVACOR Inc., CardioBridge GmbH, Evaheart Inc., and ReliantHeart Inc.
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Which Region Is Projected To Lead The Mechanical Circulatory Support Devices Market During The Forecast Period?
North America was the largest region in the mechanical circulatory support devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mechanical circulatory support devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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