The key players in the global heart pump devices market are St. Jude Medical ( 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).
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The global heart pump devices market is projected to reach USD 3.98 billion by 2022 from an estimated USD 1.64 billion in 2017, at a CAGR of 19.4% during the forecast period. Rising prevalence of cardiovascular diseases, increasing number of regulatory approvals, and a huge gap between the demand and supply of donor hearts is driving the demand for heart pump devices.
Key Target Audience
- Manufacturers of heart pump devices
- Original equipment manufacturers
- Suppliers and distributors of heart pump devices
- Healthcare service providers
- Transplant centers
- Teaching hospitals and academic medical centers
- Health insurance players
- Government bodies/municipal corporations
- Regulatory bodies
- Medical research institutes
- Business research and consulting service providers
- Venture capitalists
- Market research and consulting firms
The report analyzes the heart pump devices market and aims at estimating the market size and future growth potential of this market based on various segments such as product, type, therapy, and region.
The report also includes competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
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The heart pump device market is segmented on the basis of product, type, therapy, and region. Based on product, the market is segmented into ventricular assist devices, intra-aortic balloon pumps, and total artificial heart.
The ventricular assist devices market is expected to grow at the highest CAGR during the forecast period.
High growth in the ventricular assist devices market can be primarily attributed to the increased dependency on ventricular assist devices for the treatment of heart failure and technological advancements to improve the safety of these devices.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–56%, Tier 2–35% and Tier 3–9%
- By Designation – C-level–27%, Director Level–15%, Others–58%
- By Region – North America–38%, Europe–23%, Asia Pacific–25%, Row–15%
The high cost of devices and implantation procedures and poor reimbursement scenario in developing countries is expected to restrain the growth of this market during the forecast period. For instance, in emerging countries such as China and India, no coverage is provided for heart pump devices, thus increasing the out-of-pocket expenditure by patients.
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Objectives of the Study
- To define, measure, and describe the global heart pump devices market by product, type, therapy, and region
- To provide detailed information about the major factors influencing market growth (drivers, restraints, challenges, and opportunities)
- To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the size of market segments in North America, Europe, Asia Pacific, and RoW
- To strategically analyze the market structure and profile key players in the global heart pump device market and comprehensively analyze their core competencies
- To track and analyze company developments such as partnerships, agreements, and collaborations; expansions; acquisitions; product approvals; and product launches in the heart pump devices market.
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