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In the recent years the market for heart pumps has been really in trend and this is due to the advancements that have been made in medical science and the higher prevalence of the diseases of the heart. The surge in VADs uptake presents one of the major recent trends as an alternative to surgical transplantation. These devices been known to be the most effective devices that offer the quality of life for patients waiting to be included in the list in for heart transplantation or those ineligible for transplantation. The market nowadays witnesses a growth in the demand of both intracorporeal and extra corporeal ventricle assist devices and giving users, the flexibility to choose among available options for their medical needs.
Technological innovations are critically important in the evolution of market patterns, in where the continuous efforts being made to enhance device performance and minimized invasiveness are constantly being pursued and improved. The requirement for the miniaturization of heart pumps has now become very demanding, which in turn leads to smaller devices, and therefore, procedures with little or no injury to patients and lower risk of complications. Many new materials and better designs have improved the life span of pumps by making them more durable and dependable. Thus, the heart pumps become more efficient and people live longer. Therefore, healthcare professionals are now incorporating technologies in an increased rate to enable them to offer more innovative treatments for patients who are suffering from heart failure that is already advanced.
A new trend (the destination therapy) in the implantable heart devices market is the given long term solution for patients with no transplant options to follow. VADs (ventricular assist devices) as destination therapy it always enables the patients to have active and improved living with their cardiac problems. This situation indicates the shift in the attitude of a ventricular assist devices from an emergency solution for a short period of time to a permanent one, liberating patients who might have otherwise no other choices.
Additionally, a collaboration and partnership between the vital participants in the industry would be seen as the major market trend recently. This co-operative approach intends to mobilize the accumulated competitiveness as well as the resources of the different stakeholders, for example, those working in the area of medical devices, healthcare providers and the scientific institutions. Collaboration, which is seen as a key driver, allows the cardiovascular industry and other stakeholders to develop the solutions that address the diverse and systemic problems related to cardiovascular diseases and thus deliver better treatment outcomes for patients.
Another market trend which is worth noting is the customer experience that consists of heightened awareness and use of digital means for the management of patients powered with heart pumps. These mechanics therefore correspond with the general movement in the sphere of digital health and patient-oriented care, and contribute to improvement of the situation in terms of patient experience and their adherence to therapies.
Heart Pump Devices Market Highlights:
Global Heart Pump Devices Market Overview
Heart Pump Devices Market Size was valued at USD 0.5 Billion in 2022. The Heart Pump Devices Market industry is projected to grow from USD 0.61 Billion in 2023 to USD 2.88 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 21.50% during the forecast period (2023 - 2032). The growing spread of cardiovascular diseases and the increase in the count of aging people are market drivers expediting the market’s expansion.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
For example, in January 2024, Ultromics entered into a partnership with Pfizer to strengthen the validation process and ensure that the FDA approved its AI-based technology for diagnosing cardiac amyloidosis in Ultromics’ EchoGo Amyloidosis algorithm while working together. This is intended to enable Ultromics research efforts leading to FDA clearance of EchoGo Amyloidosis algorithm, which is equipped with Breakthrough Device Designation as a medical device used for detecting cardiac amyloidosis. The software employs deep learning methods in studying routine echocardiograms and locating instances of cardiac amyloidosis that might go unnoticed by traditional assessments.
For instance, Johnson & Johnson Service Inc acquired Abiomed, Inc. in December 2023 for the expansion of its cardiovascular portfolio. This acquisition is anticipated to have a positive impact on market growth.
In June 2023, Magenta Medical, a device manufacturer located in Israel, is starting an early feasibility study for their Elevate percutaneous Left Ventricular Assist Device (pLVAD). The purpose of this study is to obtain FDA approval for the device, specifically for high-risk percutaneous coronary intervention (HR-PCI) cases. As the tiniest cardiac pump in the world, it offers temporary mechanical assistance to the circulatory system during HR-PCI treatments. Individuals diagnosed with coronary artery disease frequently require a catheterisation operation to dilate the arteries that supply blood to the heart. During coronary intervention, there may be instability in more severe and high-risk situations. In such instances, the utilization of mechanical circulatory support proves advantageous in order to uphold systemic blood pressure and sustain perfusion of essential organs, including the heart. Restricting the insertion profile of the device is crucial in order to reduce difficulties related to vascular access. Conventional LVAD devices are somewhat bulky and necessitate a surgical procedure involving the opening of the heart for installation. Nevertheless, the Elevate device can be placed through a minor hole in the groin and then enlarged upon reaching the left ventricle of the heart. The pump's flow can be modulated to meet the patient's requirements, with a maximum mean flow rate of 5 L/min.
In November 2023, the US Food and Drug Administration (FDA) issued an experimental device exemption (IDE) to BiVACOR's total artificial heart (BTAH), allowing for the commencement of an early feasibility study in patients for the first time. The initial human trial will assess the safety and practicability of the BTAH device. BiVACOR intends to first recruit three patients. The start is expected to occur at ten prospective hospitals in 2024. The study aims to evaluate the efficacy of BTAH as a potential treatment for individuals suffering from heart failure who are in need of a heart transplant. The waiting time for a heart transplant might be as long as three years for patients. Artificial hearts are employed to temporarily replace the function of pumping blood throughout the body, serving as a bridge until a heart transplant can be performed. BTAH, utilizing rotary blood pump technology, is specifically designed for patients suffering from severe biventricular heart failure. The device is sufficiently compact to be inserted into women and some youngsters, yet it is capable of generating the same level of cardiac output as that of an adult male during physical exertion.
BiVACOR Inc., for instance, was awarded $ 13 million from the Medical Research Future Fund (MRFF) under the Artificial Heart Frontiers Program (AHFP) by the Australian Government November 2023 grant for establishment of clinical trials on total artificial heart devices.
CorWave SA, for instance, launched a new production unit at Clichy on the banks of Seine River near Paris in October 2023 to handle all commercial activities and the clinical trial phase.
For example, in August 2023 MOMENTUM-3 Clinical Trial was presented by Abbott at European Society of Cardiology Congress held in Barcelona, Spain, in 2022, and it indicated that this device alone could extend survival time among advanced heart failure patients by at least five years.
In December 2022, Teleflex Incorporated recalled Arrow AutoCAT 2 and AC3 Intra-Aortic Balloon Pumps were recalled by Arrow International, an entity under Telex Incorporated, due to batteries draining quickly or showing incorrect readings.
Heart Pump Devices Market Trends
- The rising tendency of heart diseases is driving the market growth
Market CAGR for heart pump devices is being driven by the rise in heart-related diseases and technological updates. The spread of cardiovascular disorders is rising, which is driving demand for heart pump devices worldwide. Thousands of people affected by cardiovascular diseases (CVDs), a major reason of morbidity and mortality worldwide, include many medical illnesses such as heart failure, coronary artery disease, and cardiomyopathy. As the world's population ages and sedentary lifestyles grow more common, the incidence of CVDs is predicted to rise quickly, driving demand for innovative therapies and technologies like heart pump devices. A deeper understanding of heart disease and advancements in medical technology have also led to earlier and more frequent diagnoses, which has raised the demand for heart pump devices.
Additional factors influencing the growth of the heart pump device market include the rising availability of reimbursement for these devices and improvements in device design and manufacturing that have boosted safety and efficacy. The World Health Organization (WHO) reported that cardiovascular illnesses are the main reason of mortality worldwide, taking an estimated 17.9 million lives annually. Heart attacks & strokes account for four out of every five deaths from cardiovascular illnesses. As a result, the market for heart pump devices is always growing.
Additionally, the worldwide aging population is a significant factor driving the market for heart pump devices. The market's businesses are working to improve the effectiveness and dependability of cardiac plant devices by creating fresh goods. Additionally, there is a great need for Heart Pump Devices due to the shortage of heart donors. The Heart Pump Devices Market will have a positive growth trend as a result of all these factors. Thus, driving the Heart Pump Devices Market revenue.
Heart Pump Devices Market Segment Insights
Heart Pump Devices Product Insights
The Heart Pump Devices Market segmentation, based on product includes Ventricular assist devices, Left ventricular assist devices, Right ventricular assist devices, Bi- ventricular assist devices, Percutaneous ventricular assist devices, Transcutaneous ventricular assist devices, Intra-Aortic balloon pumps, Total artificial heart. During the projected period, it is anticipated that demand for left ventricular assist devices will increase quickly. The dependence on ventricular assist devices for the treatment of heart failure and technological improvements to boost the safety of these devices are credited with the growth.
Heart Pump Devices Device Type Insights
The Heart Pump Devices Market segmentation, based on device type, includes Implantable heart pump devices, and Extracorporeal heart pump devices. During the projected period, the implantable heart pump devices sector is anticipated to develop at the greatest CAGR. The development of implantable heart devices through technology, which has increased their reliability and safety, is credited with the expansion of this market. Due to technical developments, these gadgets are now far more efficient. Patients who are not candidates for heart transplant surgery can use these devices over the long term as a means of survival.
Heart Pump Devices Therapy Insights
The Heart Pump Devices Market segmentation, based on therapy, includes Bridge-to-candidacy (BTC), Bridge-to-transplant (BTC), Destination therapy (DT), and Others. Due to an increase in lung and heart transplants, the bridge-to-transplant (BTC) sector experienced the fastest growth rate in the market for heart pump devices. Nearly 70,000 adult lung transplants have been registered since the International Thoracic Organ Transplant (TTX) was founded, and each one has given a recipient with an end-stage lung disease the chance to regain quality of life and longevity, according to data on transplant procedures compiled by the International Society for Heart and Lung Transplantation (ISHLT).
Heart Pump Devices End-User Insights
The Heart Pump Devices Market segmentation, based on end-user, includes Hospitals & Clinics, Ambulatory surgical centers, Research institutes, and Others. The largest share belonged to the hospitals & clinics segment. This is explained by the increase in hospital patient visits brought on by the increased prevalence of cardiovascular disorders. The easy availability of payment for such treatments, which helps to lessen the financial strain on patients, is another factor contributing to the rise in the number of cardiac assist device implants. For instance, according to a survey, over 7.7 million people in the UK suffer from circulatory system illnesses.
Figure 1 Heart Pump Devices Market, by End-User, 2022 & 2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Heart Pump Devices Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North America Heart Pump Devices Market area will dominate this market. Due to the rising percentage of people suffering from heart strokes and diseases, the region is one of the leading manufacturers and consumers in this industry.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2 HEART PUMP DEVICES MARKET SHARE BY REGION 2022 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe’s Heart Pump Devices Market accounts for the second-largest position in the market due to the increasing technological development across mechanical circulatory care. Further, the German Heart Pump Devices Market held the largest market share, and the UK Heart Pump Devices Market was the quickest-growing market in the European region
The Asia Pacific Heart Pump Devices Market is anticipated to expand at the quickest CAGR. This is due to the rising awareness established via product developments and research centers programs. Moreover, China Heart Pump Devices Market held the fastest CAGR, and the India Heart Pump Devices Market was the quickest-growing market in the Asia-Pacific region.
Heart Pump Devices Key Market Players & Competitive Insights
Leading market players are investing largely in research and development to grow their product/service lines, which will aid the Heart Pump Devices Market, to grow even faster. Market leaders are also adopting a variety of strategies to expand their worldwide position, with important market developments including new product launches & developments, contractual agreements among companies with complementary service lines, mergers & acquisitions, higher investments, & collaboration with other organizations having complementary products and services. To grow in a competitive and rising market climate, the Heart Pump Devices industry needs to offer cost-efficient products.
Producing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Heart Pump Devices industry to benefit clients and increase the market sector. In recent years, the Heart Pump Devices industry has offered some of the most significant advantages to medicine. Major players in the Heart Pump Devices Market, including Medtronic, Abbott Laboratories, Abiomed, Getinge, Syncardia Systems, Teleflex, Reliantheart, Terumo, Berlin Heart, Jarvik Heart, Cardiacassist, Fresenius Medical Care, Thoratec Corporation, and others are attempting to increase market growth via investing in research and development operations.
A wide variety of healthcare goods are discovered, developed, produced, and sold by Abbott Laboratories (Abbott), including branded generic medications, diagnostic tools and procedures, and infant, child, and adult nutritional supplements. The business also sells a range of medical devices, such as those for neuromodulation, electrophysiology, rhythm control, vascular and structural cardiac devices, and heart failure. The business also sells dietary supplements, minerals, and nutrition goods. It runs manufacturing sites all around the world and has research and development centers in the US, China, Colombia, India, Singapore, Spain, and the UK. The corporation sells its goods across Africa, the Middle East, Latin America, North America, and the Asia-Pacific region. In August 2023, According to recently released data from Abbott, the HeartMate 3TM heart pump improves patients' lives by at least five years and represents a definite life-saving alternative for those dealing with severe disease.
For the treatment of severe heart failure, Jarvik Heart creates miniature heart assist devices. The Jarvik 2000 Ventricular Assist Device, a popular heart pump made by Jarvik Heart, has received CE Mark approval in Europe for both bridge-to-transplant and lifetime use. The PMDA in Japan has given the Jarvik 2000 permission to be used as a bridge to transplant. The Jarvik 2000 is a research device that offers patients lifetime support in the United States. There have been more than 1000 Jarvik 2000 implants performed ly. Patients in need of organ transplants as well as those who choose to utilize the Jarvik 2000 for the rest of their lives have had sustained and enhanced health thanks to it. In February 2019, At the National Research Centre for Cardiac Surgery in Astana, Kazakhstan, a ground-breaking medical innovation was made public. Top heart failure specialists from across the world revealed the successful implantation of a FIVAD (Fully Implanted Ventricular Assist Device) into a human at a news conference held at the Centre.
Key Companies in the Heart Pump Devices Market include
- Medtronic
- Abbott Laboratories
- Abiomed
- Getinge
- Syncardia Systems
- Teleflex
- Reliantheart
- Terumo
- Berlin Heart
- Jarvik Heart
- Cardiacassist
- Fresenius Medical Care
- Thoratec Corporation
Heart Pump Devices Industry Developments
December 2022 Abiomed declares The two first patients are enrolled in the Impella ECP Pivotal Trial, which has already received FDA approval for the type of Impella ECP that will be utilized. The operations were directed by Amir Kaki, MD, head of mechanical circulatory support at Ascension St. John Hospital in Detroit.
January 2022 The world's most cutting-edge artificial heart, or Left Ventricular Assist Device (LVAD), is being developed, according to the School of Medical Research and Technology (SMRT), IIT-Kanpur.
Heart Pump Devices Market Segmentation
Heart Pump Devices Product Outlook
- Ventricular assist devices
- Left ventricular assist devices
- Right ventricular assist devices
- Bi- ventricular assist devices
- Percutaneous ventricular assist devices
- Transcutaneous ventricular assist devices
- Intra-Aortic balloon pumps
- Total artificial heart
Heart Pump Devices, Device type Outlook
- Implantable heart pump devices
- Extracorporeal heart pump devices
Heart Pump Devices Therapy Outlook
- Bridge-to-candidacy (BTC)
- Bridge-to-transplant (BTC)
- Destination therapy (DT)
- Others
Heart Pump Devices End-user Outlook
- Hospitals & Clinics
- Ambulatory surgical centers
- Research institutes
- Others
Heart Pump Devices Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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