Heart Pump Devices Market: Increasing prevalence of cardiovascular diseases and technological advancements are key drivers for Global Heart Pump Devices Market.
Scope of Global Heart Pump Devices Market Reports –
Heart Pump Device is a mechanical pump that is used to support heart function and blood flow in people who have weakened hearts. According to the Centers for Disease Control (CDC), heart disease is the leading cause of death in the United Kingdom, United States, Canada, and Australia. Every year, cardiovascular diseases (CVDs) take the lives of 17.7 million people accounting to 31% of all global deaths. These devices can support the function of the left, right, or both heart ventricles. So, during the study of Global Heart Pump Devices market, we have considered Heart Pump Devices products and consumables to analyze the market.
Global Heart Pump Devices Market report is segmented on the basis of Product type, Device type, Therapy type, End User type and by regional & country level. Based on Product type global Heart Pump Devices Market is classified as Left Ventricular Assist Device (LVAD), Right Ventricular Assist Device (RVAD) and Bi-Ventricular Assist Device (BiVAD). Based upon Device Type, global Heart Pump Devices Market is classified as Implantable Heart Pump Devices and Extracorporeal Heart Pump Devices. Based upon Therapy type, global Heart Pump Devices Market is classified as Bridge-to-Transplant (BTT), Bridge-to-Recovery (BTR), Bridge-to-Candidacy (BTC) and Destination therapy (DT). Based upon End User type, global Heart Pump Devices Market is classified as Hospitals, Diagnostic Laboratories and Cancer Research Centers.
The regions covered in this Heart Pump Devices Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Heart Pump Devices is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Heart Pump Devices Market Reports-
Global Heart Pump Devices market report covers prominent players like Cardiac Assist, Comed, Lepu Medical Technology, Merit Medical Systems, Ceremed, Inc., Thoratec Corporation, St. Jude Medical, SynCardia Systems LLC, and Heart Ware International, Biomed, Baxter International Inc, Heart Ware International, Thoratec, Berlin Heart, CryoLife, Jarvik Heart, Reliant heart, Sun Medical Technology Research and others.
Global Heart Pump Devices Market Dynamics –
The major key drivers for the growth of the Global Heart Pump Devices Market are increasing geriatric population, growing awareness about cardiovascular diseases, technological advancements and increase in prevalence of cardiovascular diseases attributed due to rising risk factors such as obesity, diabetes, high cholesterol, hypertension, increasing level of smoking and alcohol consumption. The American Heart Association estimates that 65% of patients with diabetes die due to some form of cardiovascular disease. However, heart pump devices implantation surgeries are highly expensive and the cost is further added according to the per year life added. For instance, Left Ventricular Assist Device (LVAD) implantation costs USD 175,420 for the procedure contributing to total cost of USD 726,200 for six years. The U.S. health care system spends more than $26 billion annually for patients with heart failure. Nonetheless, untapped market and technological advancements may generate new opportunities in forecast period.
Global Heart Pump Devices Market Regional Analysis –
North America dominates the market with highest market share due to increasing prevalence of cardiovascular diseases and increasing geriatric population. Other factors such as technological advancements, increasing government initiatives, and funding for research and development are responsible for growth of heart pump devices in this region. According to the American Heart Association about 610,000 people die of heart disease in the United States every year. The number of people diagnosed with heart failure is increasing and projected to rise by 46% by 2030, resulting in more than 8 million people with heart failure.
Europe is the second largest market for heart pump devices. According to European Cardiovascular Disease Statistics 2017, each year cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU). Cardiovascular disease accounts for 45% of all deaths in Europe and 37% of all deaths in the European Union (EU). In Russia, Cardiovascular disease is a major health concern, with 57% of all deaths in the country being a result of cardiovascular disease. The standard mortality rate due to CVD in Russia is also the highest among all of the developed nations of the world. Increasing prevalence of cancer and increased growth in research and development activities are majorly responsible on growth of Heart Pump Devices market in Europe.
Asia Pacific Heart Pump Devices Market is witnessed with strong growth rate majorly due high prevalence of cardiovascular diseases, increasing population, growing awareness regarding cure and treatment of cardiovascular diseases and government funding for research and development. According to World Health Organization (WHO), in China, about 230 million people have cardiovascular disease
Key Benefits for Global Heart Pump Devices Market Reports –
Global Heart Pump Devices Market report covers in depth historical and forecast analysis.
Global Heart Pump Devices Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Heart Pump Devices Market report helps to identify opportunities in market place.
Global Heart Pump Devices Market report covers extensive analysis of emerging trends and competitive landscape.
Heart Pump Devices Market
By Product
Left Ventricular Assist Device (LVAD)
Right Ventricular Assist Device (RVAD)
Bi-Ventricular Assist Device(BiVAD)
By Type
Implantable Heart Pump Devices
Extracorporeal Heart Pump Devices
By Therapy
Bridge-to-Transplant (BTT)
Bridge-to-Recovery (BTR)
Bridge-to-Candidacy (BTC)
Destination therapy (DT)
By End-User
Hospitals
Ambulatory Surgical Centers
Research Institutes
By Region
North America
S.
Mexico
Canada
Europe
UK
France
Germany
Italy
Asia Pacific
China
Japan
India
Southeast Asia
Latin America
Brazil
The Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Heart Pump Devices Market Players
Cardiac Assist
Comed
Lepu Medical Technology
Merit Medical Systems
Ceremed Inc.
Thoratec Corporation
Jude Medical
SynCardia Systems LLC
Heart Ware International
Biomed
Baxter International Inc
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