Key Factors Fueling the Growth of the Cardiac Assist Devices And Equipment Market in 2025: A Rise In The Prevalence Of Cardiovascular Diseases (CVD) In Cardiac Assist Devices And Equipment Market
Discover trends, market shifts, and competitive outlooks for the cardiac assist devices and equipment industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
How Has the Cardiac Assist Devices And Equipment Market Growth Performance Trended Historically, And What Lies Ahead?
In the past few years, there has been a significant expansion in the cardiac assist devices and equipment market size. It is projected to rise from $2.3 billion in 2024 to $2.59 billion in 2025, with a compound annual growth rate (CAGR) of 12.8%. This growth during the historic period is due to various factors such as the prevalence of cardiac arrhythmias, an increase in the aging population, clinical guidelines and research, and the emergence of minimally invasive procedures.
The market size of cardiac assist devices and equipment is projected to witness robust growth in the coming years, and could potentially reach a size of $3.68 billion by 2029, reflecting a compound annual growth rate (CAGR) of 9.2%. The anticipated growth during the forecast period could be due to factors such as personalized medicine, wide-ranging access to healthcare, the utilization of electrophysiology devices in managing heart failure, and hybrid procedures. A few notable trends predicted for the forecast period are the utilization of 4d mapping and visualization, the application of artificial intelligence (AI) in electrophysiology, approaches in regenerative medicine, and leadless cardiac pacing.
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What are the Fundamental Drivers and Innovations Shaping the Cardiac Assist Devices And Equipment Market?
The escalating incidence of cardiovascular diseases (CVD) is boosting the necessity for cardiac assist devices and equipment in both developed and emerging economies. This growing demand is due to the increasing requirement for diagnosis, early-stage treatment, monitoring, and prevention of these dangerous diseases. For illustration, the American Heart Association, a nonprofit organization based in the US, has projected that by 2035, 45.1% of the American population will be suffering from some form of CVD. The total costs related to CVD are anticipated to hit $1.1 trillion in 2035, with direct medical expenses forecasted to be around $748.7 billion and indirect costs reaching an estimation of $368 billion. Hence, the surge in the prevalence of cardiovascular diseases is facilitating the growth of the cardiac assist devices and equipment market.
How Is the Cardiac Assist Devices And Equipment Market Segmented?
The cardiac assist devices and equipment market covered in this report is segmented –
1) By Type: Ventricular Assist Devices (LVAD), Intra-Aotic Baloon Pumps, Total Artificial Heart
2) By Modality: Transcutaneous, Implantable
3) By Application: Hospital Pharmacies, Ambulatory Surgical Centres, Emergency Services
Subsegments:
1) By Ventricular Assist Devices (LVAD): Implantable LVADs, Externally Powered LVADs, Pediatric LVADs, Other LVADs
2) By Intra-Aortic Balloon Pumps: Disposable Intra-Aortic Balloon Pumps, Reusable Intra-Aortic Balloon Pumps
3) By Total Artificial Heart: Pneumatically Powered Total Artificial Heart, Electrically Powered Total Artificial Heart, Other Total Artificial Heart Types
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Which Regions Are Driving the Next Phase of the Cardiac Assist Devices And Equipment Market Growth?
North America was the largest region in global cardiac assist devices and equipment market in 2023. Western Europe was the second-largest region in cardiac assist devices and equipment market. The regions covered in the cardiac assist devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Key Market Trends and Innovations Are Shaping the Future of the Cardiac Assist Devices And Equipment Industry?
Significant players in the cardiac assist devices and equipment market are introducing cutting-edge products such as the CardioMEMS HF System to cater to the increasing number of heart failure patients. The CardioMEMS HF System, a novel cardiac tool, facilitates remote measurement and supervision of pulmonary artery pressure and heart rate in heart failure patients. For instance, in February 2022, the US-based medical device manufacturer, Abbott Laboratories, secured FDA authorization for its CardioMEMS HF System, a minuscule implantable sensor for heart failure. The data provided by the CardioMEMS HF system assists healthcare providers in determining treatment plans and managing a patient’s heart failure, potentially enabling faster care for these patients and preventing hospitalizations related to heart failure.
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How Is the Cardiac Assist Devices And Equipment Market Defined and What Are Its Core Parameters?
Cardiac assist devices and equipment are electromechanical devices that assist in pumping blood from the heart to the rest of the body. These devices are used either to partially or completely replace the function of a failing heart. They help improve blood circulation, reduce the workload on the heart, and can even provide life-saving assistance in critical situations.
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