The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s heart pump devices market report forecasts the heart pump devices market size to grow to $6.19 Billion by 2027, with a CAGR (compound annual growth rate) of more than 17%.

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Heart Pump Devices Market Size Forecast
The global heart pump devices market is expected to grow from $2.72 billion in 2022 to $3.24 billion in 2023 at a compound annual growth rate (CAGR) of 18.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The heart pump devices market is expected to reach $6.19 billion in 2027 at a CAGR of 17.6%.

North America held the largest heart pump devices market share.

Key Heart Pump Devices Market Driver ­– Increase In The Prevalence Of Cardiovascular Disorders
According to a World Health Organization (WHO) study from 2021, 17.9 million people died from cardiovascular diseases (CVDs) in 2019, accounting for 32% of all deaths, with heart attacks and strokes accounting for 85% of these deaths. As a result, the rising prevalence of cardiovascular disorders is propelling the growth of the heart pump devices market.

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Key Heart Pump Devices Market Trend – Developing Investments In Innovative Heart Pumps
Major players in the heart pump devices market are investing in heart pumps to maintain their market position. For example, in January 2021, CorWave, a France-based company that develops innovative heart pumps, invested $40 million in the development of an implantable heart pump with breakthrough technology, a wave membrane pump. This investment aids in the initial development of the product, manufacturing infrastructure, and the completion of regulatory testing required to conduct human implants and begin human clinical trials.

Heart Pump Devices Market Segment
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

Heart Pump Devices Market Major Players and Strategies
Major players in the heart pump devices market are Medtronic Inc., Abbott Laboratories, Abiomed Inc., Getinge AB, SynCardia Systems LLC, Teleflex Incorporated, Jarvik Heart Inc., CardiacAssist Inc., Fresenius Medical Care AG & Co. KGaA, Terumo Heart Inc., Berlin Heart, ReliantHeart Inc., Calon Cardio-Technology Ltd., St. Jude Medical Inc., and CorWave SA.

Boston Scientific Corporation, a biomedical/biotechnology engineering firm based in the United States, paid $1.75 billion for Baylis Medical Company Inc. in February 2022. With this acquisition, Boston Scientific will be able to integrate the Baylis platforms with its existing electrophysiology and structural heart offerings, further strengthening its position in the cardiology market. Baylis Medical Company Inc. is a heart pump device manufacturer based in Canada.

The Heart Pump Devices Global Market Report 2023 covers regional data on heart pump devices market size, heart pump devices market trends and drivers, opportunities, strategies, and heart pump devices market competitor analysis. The countries covered in the heart pump devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

A heart pump device is a mechanical support device that aids in the circulation of blood from the chambers of the heart to the rest of the body. It is used to temporarily improve the heart’s pumping action.

View More Reports Related To The Heart Pump Devices Market –
Implantable Infusion Pumps Global Market Report 2023
Heart Attack Diagnostic Global Market Report 2023
Hearth Global Market Report 2023

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