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How has the heart pump devices market size evolved in recent years?

The market size for heart pump devices has seen rapid expansion in the past few years. It is expected to surge from $3.79 billion in 2024 to $4.5 billion in 2025, boasting a compound annual growth rate (CAGR) of 18.8%. This historic growth can be linked to factors such as the heightened prevalence of cardiovascular diseases, an aging demographic, increased awareness and education, government schemes and funding, as well as enhanced surgical practices.

What are the predictions for the heart pump devices market size in the coming years?

The market for heart pump devices is predicted to witness swift expansion in the coming years, reaching a worth of $8.86 billion by 2029, with a compound annual growth rate (CAGR) of 18.4%. The bolstering growth in the forecast period could be associated with several factors such as the increase in global healthcare spending, emergence of new markets and undiscovered prospects, tailor-made medicine and customization, rise in regulatory approvals, and better patient awareness. Key trends forecasted for the period include progress in technology, remote supervision and connectivity, extended mechanical support, downsizing and portability, and incorporation of artificial intelligence.

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What key factors are fueling the growth of the heart pump devices market?

The escalating occurrence of cardiovascular illnesses is anticipated to drive the growth of the heart pump devices market. These are conditions that involve the heart or blood vessels. The surge in such heart-related diseases necessitates innovative diagnostic and treatment tools such as heart pump devices, which assist in pumping blood from the left lower heart chamber, supporting blood circulation during high-risk protected percutaneous coronary interventions. This, in turn, boosts market demand. For example, the Office for Health Improvement and Disparities, a Government institution in the UK, published data in March 2024, stating that in 2023 there were just above 1,862,500 individuals (3%) in England with a GP diagnosis of CHD. Consequently, the rising incidence of cardiovascular conditions is fuelling the expansion of the heart pump devices market.

How is the global heart pump devices market divided into key segments?

The heart pump devices market covered in this report is segmented –

1) By Type: Implantable Heart Pump Devices, Extracorporeal Heart Pump Devices

2) By Therapy: Bridge-To-Transplant (BTT), Bridge-To-Candidacy (BTC), Destination Therapy (DT), Other Therapies

3) By End-user: Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Other End-users

Subsegments:

1) By Implantable Heart Pump Devices: Left Ventricular Assist Devices (LVADs), Right Ventricular Assist Devices (RVADs), Biventricular Assist Devices (BiVADs), Total Artificial Hearts (TAHs)

2) By Extracorporeal Heart Pump Devices: Intra-Aortic Balloon Pumps (IABPs), Extracorporeal Membrane Oxygenation (ECMO) Devices, Ventricular Assist Devices (Temporary): Centrifugal Blood Pumps

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Who are the key firms paving the way for growth in the heart pump devices market?

Major companies operating in the heart pump devices market are MedtronicPLC, Abbott Laboratories, Boston Scientific Corporation, Terumo Corporation, Getinge AB, Cardiomedix, ReliantHeart, CardiacAssist, SynCardia Systems, CARMAT, Sorin Group, BiVACOR, Bristol-Myers Squibb, MicroMed Cardiovascular, Aortica Corporation, Fresenius Kabi, Acelity, Asahi Kasei Medical, LivaNova, HeartWare International, Jarvik Heart, MediCardia, Avinger, Nuvectra, OrbusNeich, Ventracor, EBR Systems, and CorWave

Which trends are expected to transform the heart pump devices market?

Leading enterprises in the heart pump devices market are channeling their energies towards the creation of innovative technologies such as self-expanding mechanisms. These mechanisms promise to boost the efficiency of the device, improve the patient’s prognosis, and lower the likelihood of complications during the insertion process. A self-expanding mechanism characteristically expands to its maximum potential once delivered, without requiring added external forces, thanks to its specially structured materials. For example, in June 2023, Magenta Medical, a company from Israel, is taking measures to further develop its inventive heart pump mechanism and present the smallest heart pump in the world. Known as the Elevate Pump, this percutaneous Left Ventricular Assist Device (VAD) fits within an 8 French (Fr) delivery system, thereby making it one of the smallest devices of its kind on the market.

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What regions are contributing significantly to the growth of the heart pump devices market?

North America was the largest region in the heart pump devices market share in 2024. The regions covered in the heart pump devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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