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Global Heart Pump Devices Market Size and Forecast 2024-2033| Archer-Daniels-Midland Company, BASF SE, The DOW Chemical Company, Bio-Chem Technology Group Co. Ltd., LyondellBasell Industries N.V

The Heart Pump Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Heart Pump Devices Global Market Report 2024, The heart pump devices market size has grown rapidly in recent years. It will grow from $3.25 billion in 2023 to $3.88 billion in 2024 at a compound annual growth rate (CAGR) of 19.6%. The growth in the historic period can be attributed to increased prevalence of cardiovascular diseases, aging population, awareness and education, government initiatives and funding, improved surgical techniques

The heart pump devices market size is expected to see rapid growth in the next few years. It will grow to $7.58 billion in 2028 at a compound annual growth rate (CAGR) of 18.2%. The growth in the forecast period can be attributed to rising global healthcare expenditure, emerging markets and untapped opportunities, personalized medicine and customization, increasing regulatory approvals, growing patient awareness. Major trends in the forecast period include technological advancements, remote monitoring and connectivity, long-term mechanical support, miniaturization and portability, artificial intelligence integration

The increasing prevalence of cardiovascular disorders is expected to propel the heart pump devices market going forward. Cardiovascular disorders refer to a term for the conditions affecting the heart or blood vessels. The rise in cardiovascular diseases would require advanced diagnostics and treatments such as heart pump devices that help pump blood from the lower left heart chamber that is used to help maintain blood flow during high-risk protected percutaneous coronary interventions, which would increase the demand for the market. For instance, a World Health Organization (WHO) study from 2021 estimates that 17.9 million people worldwide died from cardiovascular diseases (CVDs) in 2019, accounting for 32% of all deaths and 85% of these deaths were due to heart attacks and strokes. Therefore, the increasing prevalence of cardiovascular disorders is driving the growth of the heart pump devices market.

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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

Investments in developing innovative heart pumps are a key trend gaining popularity in the heart pump devices market. Major companies operating in the heart pump devices market are investing in heart pumps to sustain their position in the market. For instance, 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 helps in the initial development of the product, manufacturing infrastructure, and to complete regulatory testing required to conduct human implants and start its human clinical trials.

The heart pump devices market report table of contents includes:

1. Executive Summary

2. Heart Pump Devices Market Characteristics

3. Heart Pump Devices Market Trends And Strategies

4. Heart Pump Devices Market – Macro Economic Scenario

5. Global Heart Pump Devices Market Size and Growth

26. South America Heart Pump Devices Market

27. Brazil Heart Pump Devices Market

28. Middle East Heart Pump Devices Market

29. Africa Heart Pump Devices Market

30. Heart Pump Devices Market Competitive Landscape And Company Profiles

Top Major Players: