Serious Lack of Donors of Organs is Helping to Increasing Popularity of Heart Pump Devices Market; Valuation to Rise Up to US$4.3 Bn by 2027, Notes TMR

• Chronic cardiovascular disorders coupled with extremely limited availability of hearts for transplant are the biggest driving factors for heart pump market
• Companies operating in the global heart pump devices are investing heavily in research and development activities of mechanical pumps for improving patient experience

ALBANY, New York, March 18, 2020 /PRNewswire/ -- Market Research has recently published a new research report that provides detailed information about the overall working dynamics of global heart pump devices market. The research report offers deep, meaningful, and actionable insights on key market segments, driving factors, growth inhibitors, geographical outlook, and overall condition of the competitive landscape.

As per the research report, the global heart pump market was initially valued at US$1.8 Bn in 2018. The global market is projected to showcase a hefty CAGR of ~10% over the course of the given forecast period ranging from 2019 to 2027. Given the rate of growth, the valuation of the global market will reach to mark of ~US$4.3 Bn by the fall of 2027.

Global Heart Pump Devices Market – Key Takeaways

• Based on product, the global market for heart pump devices is projected to be dominated by the segment of left ventricle assist devices (LVAD).
• Increasing preference of patients to undergo device-assisted surgical procedures is driving segment's growth.
• Based on flow regime, the global market is projected to be dominated by the segment of centrifugal flow pump (CFP).
• Focus on developing innovative modelling techniques and availability 3D printing are driving growth of the segment.
• Based on therapy, the segment of bridge to transplant therapy is projected to dominate the global market because of lack of donor organs.
• Based on location, the market is segmented into implantable and extracorporeal heart pump devices
• In terms of end user, the segments of hospitals and specialty clinics are projected to witness promising rate of growth.

Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Heart Pumps Market by Product: Intra-aortic Balloon Pumps, Ventricular Assist Devices [Left Ventricle Assist Devices {LVAD}, Right Ventricle Assist Devices {RVAD}, Biventricular Assist Devices {BVAD}, and Others], and Total Artificial Heart; Flow Regime: Centrifugal Flow Pump {CFP}, Axial Flow Pump {AFP}, and Mixed Flow Pump {MFP}; Therapy: Bridge-to-Candidacy {BTC}, Bridge-to-Transplant {BTT}, Destination Therapy {DT}, and Other Therapies; Location: Implantable Heart Pump Devices and Extracorporeal Heart Pump Devices; and End User: Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Others. Read Detailed TOC of the Report - https://www.transparencymarketresearch.com/report-toc/45147

Global Heart Pump Devices Market – Prominent Growth Drivers

• One of the biggest driving factor for the growth of the global heart pump devices market is the increasing prevalence of chronic cardiovascular disorders across the globe.
• Rising number of geriatric population across the globe is also another important driving factor for market development.
• There is a serious lack of donor organs, particularly heart. This has prompted people to incline towards device assisted surgeries.
• Increased levels of funding and investments for developing more effective and reliable heart pumps is also helping the overall development of the global market.

Global Heart Pump Devices Market – Prominent Growth Inhibitors

• The most prominent growth inhibitor for market has been supremely high costs associated with these procedures.
• Average cost of a LVAD device implantation comes around US$85,000 to US$90,000. This makes is nigh impossible for majority of population to undergo required treatment.
• The duration for hospital stay and the relative costs associated with it are also quite high.
• All such factors are contributing towards slowing down market development.

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Global Heart Pump Devices Market – Geographical Outlook

• North America accounted for the largest share in the global heart pump devices market in 2018 and is projected to continue to do so in coming years of the forecast period.
• Highly developed healthcare industry and early availability of newer products are some of the key factors that are helping to drive the growth of the North America market.
• The regional segment of Europe is projected show a promising rate of growth in coming years of the forecast period.

Global Heart Pump Devices Market – Key Players

Some of the key players operating in the global heart pump devices market are Calon Cardio, Jarvik Heart, Inc., Berlin Heart, Abiomed, SynCardia Systems, LLC, Abbott Laboratories, Teleflex Incorporated, Getinge AB, and Medtronic plc.

Analyze Heart Pump Devices Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea.

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Global Heart Pumps Market: Segmentation

Heart Pumps Market, by Product

• Intra-aortic Balloon Pumps
• Ventricular Assist Devices
• Left Ventricle Assist Devices (LVAD)
• Right Ventricle Assist Devices (RVAD)
• Biventricular Assist Devices (BVAD)
• Others
• Total Artificial Heart

Heart Pumps Market, by Flow Regime

• Centrifugal Flow Pump (CFP)
• Axial Flow Pump (AFP)
• Mixed Flow Pump (MFP)

Heart Pumps Market, by Therapy

• Bridge-to-Candidacy (BTC)
• Bridge-to-Transplant (BTT)
• Destination Therapy (DT)
• Other Therapies

Heart Pumps Market, by Location

• Implantable Heart Pump Devices
• Extracorporeal Heart Pump Devices

Heart Pumps Market, by End User

• Hospitals
• Ambulatory Surgical Centers
• Specialty Clinics
• Others

Heart Pumps Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Australia & New Zealand
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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