Intra-Aortic Balloon Pump (IABP) Market By Product (Intra-aortic Balloon Pump (IABP) Catheter, Intra-aortic Balloon Pump (IABP) Console) , By Indication (Coronary Artery Disease, Chronic Heart Failure) By End User (Hospitals, Ambulatory Surgical Centers, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Intra-Aortic Balloon Pump (IABP) Market
The intra-aortic balloon pump (IABP) market was valued at $351.2 million in 2023 and is projected to reach $528.2 million by 2033, growing at a CAGR of 4.2% from 2024 to 2033.
An intra-aortic balloon pump (IABP) is a provisional medical equipment used to pump more blood into the heart at times when it is unable to function adequately. It is a cylindrical balloon developed from polyurethane that sits in the aorta to perform inflation and deflation. IABP is crucial for individuals suffering from cardiogenic shock that typically arises from conditions such as heart failure, unstable angina, heart attack, and certain arrhythmias.
Factors such as exponentially increasing geriatric population and stationary lifestyles have upsurged the prevalence of cardiovascular diseases, propelling the development of the intra-aortic balloon pump (IABP) market. In addition, rise in the deployment of IABP in interventional cardiology procedures such as percutaneous coronary interventions augments the development of the market. The assimilation of technological innovations into the equipment is a key trend gaining prominence in the intra-aortic balloon pump (IABP) market. Manufacturers are focusing on the development of novel models of IABPs with automated control, battery-powered mobility, and small sizes to enhance their safety & efficiency.
However, the temporary effectiveness of IABPs leads to stringent competition from enduring equipment such as ventricular assist devices. Such devices limit the usage of IABPs and restrain the development of the market. Furthermore, the possibility of complications arising due to IABP entrapment discourages its usage, hampering the market growth significantly. For instance, a case series published by the Taylor & Francis Group—a commercial publishing company—stated that thrombocytopenia and fever are the common complications of entrapped IABP, occurring around 50 and 36% of the time. Moreover, intricacies such as vascular tears and limb ischemia exhibit a 1–2% possibility of occurrence in individuals. On the contrary, rise in expenditure on healthcare infrastructure to develop cutting-edge medical equipment is poised to present lucrative opportunities for the intra-aortic balloon pump (IABP) market.
Segment ReviewThe intra-aortic balloon pump (IABP) market is segmented into product, indication, end user, and region. On the basis of product, the market is bifurcated into intra-aortic balloon pump (IABP) catheter and intra-aortic balloon pump (IABP) console. Depending on indication, it is divided into coronary artery disease and chronic heart failure. As per end user, it is classified into hospitals, ambulatory surgical centers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of product, the intra-aortic balloon pump (IABP) console segment is expected to be the highest shareholder during the forecast period.
Depending on indication, the coronary artery disease segment is projected to account for a high share of the market by 2033.
As per end user, the hospitals segment is anticipated to acquire a high share of the market throughout the forecast period.
Region wise, North America is predicted to be the highest revenue generator by 2033.
Competition AnalysisThe major players in the global intra-aortic balloon pump (IABP) market include Abbott Laboratories, Getinge AB, Maquet Cardiovascular, CardiacAssist, Inc., Teleflex Incorporated, Bard Peripheral Vascular Inc., Medtronic plc, LivaNova PLC, Terumo Corporation, and Boston Scientific Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy ProductIntra-aortic Balloon Pump (IABP) Catheter
Intra-aortic Balloon Pump (IABP) Console
By IndicationCoronary Artery Disease
Chronic Heart Failure
By End UserHospitals
Ambulatory Surgical Centers
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market PlayersAbbott Laboratories
Getinge AB
Maquet Cardiovascular
CardiacAssist, Inc.
Teleflex Incorporated
Bard Peripheral Vascular Inc.
Medtronic plc
LivaNova PLC
Terumo Corporation
Boston Scientific Corporation