Heart Pump Device Market | Growing at a CAGR of 19.4% | Rising Prevalence of Cardiovascular Diseases

PUNE, India, 2020-Sep-23 — /EPR Network/ —

According to the new market research report “Heart Pump Device Market by Product (Ventricular Assist Device (LVAD, RVAD, BiVAD, and pVAD), Intra Aortic Balloon Pump, TAH), Type (Extracorporeal and Implantable Pump), Therapy (Bridge-to-transplant, Destination Therapy) – Global Forecast” published by MarketsandMarkets™.

The Global Heart Pump Device Market is projected to reach USD 3.98 Billion, at a CAGR of 19.4% during the forecast period.

Major Market Growth Drivers:

• Rising Prevalence of Cardiovascular Diseases
• Regulatory Approval of Several New and Advanced Heart Pump Devices
• Huge Gap Between the Demand and Supply of Donor Hearts
• Growth Potential Offered By Emerging Countries

Browse 74 market data Tables and 33 Figures spread through 131 Pages and in-depth TOC | Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=237125725

The ventricular assist devices held the largest share of the market.

On the basis of product, the heart pump devices market is segmented into ventricular assist devices, intra-aortic balloon pumps, and total artificial heart. In 2017, the ventricular assist devices segment is expected to account for the largest share of the global market. The large share of this segment can be primarily attributed to the high prevalence of heart failure across the globe.

The implantable heart pump devices segment accounted the largest share of the market.

On the basis of type, the heart pump devices market is segmented into implantable and extracorporeal heart pump devices. In 2017, the implantable heart pump devices segment is expected to account for the largest share of the global market. The large share of this segment can be primarily attributed to technological advancements to improve efficiency and safety of implantable heart pump devices and their ability to improve the mobility and the standard of life of patients.

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North America is expected to account for the largest share of the heart pump devices market, followed by Europe. Factors such as the regulatory approval of several new and advanced heart pump devices, favorable medical coverage, large gap between the supply and demand of donor hearts for transplants, and high incidence and prevalence of cardiovascular diseases are contributing to the large share of North America.

The key players in the global heart pump devices market are St. Jude Medical (a subsidiary of Abbott Laboratories) (US), Abiomed (US), Medtronic (Ireland), Getinge (Sweden), Teleflex (US), ReliantHeart (US), BerlinHeart (Germany), Terumo (Japan), SynCardia Systems (US), TandemLife (CardiacAssist) (US), Jarvik Heart (US), and Fresenius Medical Care (Germany).