Heart Pump Device Market Analysis and Forecast to 2032: By Product (Ventricular Assist Devices, Intra-Aortic Balloon Pumps, Total Artificial Hearts), Type (Implanted Heart Pump Device, Extracorporeal Heart Pump Device), Therapy (BTT, BTC, DT, Other), and

Heart Pump Device Market Analysis and Forecast to 2032: By Product (Ventricular Assist Devices, Intra-Aortic Balloon Pumps, Total Artificial Hearts), Type (Implanted Heart Pump Device, Extracorporeal Heart Pump Device), Therapy (BTT, BTC, DT, Other), and Region

The global heart pump device market was valued at USD 2.5 billion in 2022, and it is anticipated to reach up to USD 14.4 billion by 2032, at a CAGR of 19.1% during the forecast period.

Millions of individuals around the world suffer from heart failure, which kills more people annually than all forms of cancer combined. Since there aren't enough donors for heart transplants, using a reliable mechanical circulatory support system could lengthen patients' lives and ease their pain. This device can be inserted into either the left or right ventricle of your heart, although the left ventricle is where it is most usually utilized. If a patient suffers heart failure and is not a suitable candidate for a heart transplant, the doctor may recommend having a VAD implanted as a long-term treatment. If you have severe heart failure, the procedure to install these devices—which necessitates open-heart surgery and carries significant risks and complications—can save your life. Following the implants, the patient must visit the doctor to discuss how the device is performing and, if necessary, any issues.

Global Heart Pump Device Market Scope and Report Structure

Market Trends and Drivers

Due to the rising prevalence of CVDs and heart failure over the past several years, there has been a major increase in the demand for heart transplants. However, a global shortage issue has emerged due to the lack of sufficient hearts for transplantation to fulfill the current demand. There were roughly 3,980 candidates on the heart transplant waiting list as of March 2018, according to the national database maintained by the Health Resources and Services Administration (US).

Significant variations in the number of donors and patients on waiting lists have been seen, even at the national level. For instance, in Australia, there were around 1,650 people on the waiting list for a heart transplant in 2020, but there were only 463 donors available (Source: Transplant Australia Ltd). According to the Transplant Activity Report 2018/19, since 2010, there have been 134 percent more people active on waiting lists for heart transplants.

In this situation, there has been a rise in both the number of people waiting for transplants as well as the number of people passing away while on the list. Advanced heart failure (HF) management using LVADs as a bridge to transplantation (BTT) or destination therapy has become critical (DT). The need for mechanical circulatory support (MCS) devices used in these patients has increased as a result of organ shortages, the rise in end-stage HF patients, and technological advancements in MCS. 43 percent of recipients had some combination of MCS, LVAD, RVAD, TAH, and ECMO between 2009 and 2016. In the US, VADs were implanted in 50% of all adult heart transplant recipients between 2007 and 2017.

When a patient is not a candidate for a heart transplant, these devices also serve as a permanent solution, giving them the assistance, they need while they wait. In light of this, it is anticipated that the market for heart pump devices would expand over the next few years due to the substantial gap between the demand and availability of donor hearts.

Market Restraints and Challenges

For bridge-to-heart transplantation, ventricular support devices, notably left ventricular assist devices (LVADs), are frequently employed. LVADs are thought of as life-saving devices, however they also have a number of difficulties.

By six months after implantation, up to 60% of patients typically experience LVAD-related problems. Nearly 80% of patients had at least one unfavorable incident by two years. Unexpected readmissions to the hospital are frequent. Patients are observed to be readmitted on average 2.2 times throughout the course of their median follow-up period of 11 months.

Device thrombosis, bleeding issues, renal impairment, ischemic and hemorrhagic strokes, multi-organ failure, and infections are some of the major non-surgical adverse events and LVAD consequences. If left untreated, some issues also turn out to be fatal for the victims. About 60% of VAD patients experience an infection within 90 days, according to statistics from the University of Michigan Frankel Cardiovascular Center. Infections, thromboembolic events, and bleeding issues are just a few of the LVAD's frequent side effects.

Global Heart Pump Device Market Segmental Overview

The report analyses the global heart pump device market based on product, type, therapy, and region.

Global Heart Pump Device Market by Product

Based on the product, it is segmented into ventricular assist devices, intra-aortic balloon pumps, and total artificial hearts. The largest and fastest-growing market category in this space is ventricular assist devices. The manufacturers' technological breakthroughs, the lack of organ donors, and the sharp increase in heart failure prevalence worldwide are the main drivers of this segment's growth.

Global Heart Pump Device Market by Type

Based on the therapy, it is segmented into implanted heart pump devices and extracorporeal heart pump devices. Due to the introduction of cutting-edge technologies by major players and the demand for an effective way to manage heart failure, implanted heart pump devices held the greatest share of this market.

Global Heart Pump Device Market by Therapy

Based on the therapy, it is segmented into bridge-to-transplant (BTT), bridge-to-candidacy (BTC), destination therapy (DT), and other therapy. The BTT segment took up the largest portion of this market. This market's growth has been propelled by elements including the increased public knowledge of transplantation and the accessibility of VADs for BTT.

Geographical Analysis of Heart Pump Device Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The market for heart pump devices was dominated by Europe. The substantial representation of this region can be due to the increased prevalence of CVDs, the growing use of heart pump devices, and the increase in research activities to advance current technologies.

Major Players in the Global Heart Pump Device Market

The key players studied in the report are Abbott Laboratories, Abiomed, Medtronic, Teleflex Incorporated, SynCardia Systems, Fresenius Medical Care AG & Co. KGaA, Getinge, CardiacAssist, Inc., Berlin Heart, Jarvik Heart, Inc., CARMAT, SENKO MEDICAL INSTRUMENT Mfg. CO., LTD., Angiodroid, and CardioDyme among others.

COVID-19 Impact

Following the global COVID-19 epidemic, the healthcare industry has undergone substantial adjustments. In order to reduce the danger of contracting the virus, several nations in the cardiac care industry have agreed to delay elective procedures. Elective heart procedures have been postponed as a result of the COVID-19 strain on the UK's healthcare systems due to the shift of intensive care resources and the unquantifiable risk of contracting the virus.

According to research done in eight Italian hospitals from February 21 to March 31, 2020, the lockdown considerably decreased the number of HF admissions. In certain instances, HF patients may have passed away at home during the COVID-19 lockdown without receiving medical care. 2020 saw a significant reduction in the market for heart pump devices due to a decrease in HF hospitalizations.

Similar to this, market participants have seen a drop in their profits as a result of the COVID-19 epidemic. For instance, according to Abiomed's 10-k form, Impella pump sales revenues were negatively impacted by poor patient utilization as a result of fewer patient visits in the fourth quarter of FY 2020. About USD 17 million in Impella product revenue was lost as a result of COVID-19, largely in the US and Europe.

Due to the COVID outbreak, the FDA has additionally given firms that produce cardiac assist devices emergency use authorizations (EUA) to treat COVID patients who have right heart failure or decompensation, including pulmonary embolism (PE). The FDA approved Abiomed's left-sided Impella heart pumps in August 2020 to support COVID-19 patients receiving ECMO therapy and offer left ventricular unloading. The FDA also granted the business an EUA for Impella RP, allowing it to treat patients with right heart failure or decompensation brought on by COVID-19. These changes contributed significantly to the company's success.

Recent Developments

• February 2021, Carmat received FDA approval to use the new version of its artificial heart in the US early feasibility study.
• December 2020, Abbott received FDA approval for the updated labeling for the HeartMate 3 Heart Pump to be used in pediatric patients with advanced refractory left ventricular heart failure.
• December 2020, Carmat received the CE mark for its total artificial heart.
• March 2020, SynCardia Systems received FDA approval for the 50cc temporary total artificial heart.
• In December 2022, Abbott has launched new minimally invasive device for treating heart valve diseases in India. The newly launched Navitor TAVI system is the latest addition to the company’s heart trans-catheter portfolio, which offers less invasive options for treating heart diseases.
• In March 2020, Abbott received breakthrough device designation from the FDA (Food and Drug Administration) for its Fully Implantable Left Ventricular Assist System (FILVAS).
• In February 2017, Boston Scientific launched its new "RESONATE" cardiac resynchronization therapy defibrillator (CRT-D) system in Europe. A newly launched device with SmartCRT technology has received the CE mark and is now available in Europe for heart failure patients.

Frequently Asked Questions

Q1.

How big is the Heart Pump Device market?

Ans.

The global Heart Pump Device market size was USD 2.5 billion in 2022 and is anticipated to reach USD 14.4 billion in 2032, growing at a rate of 19.1% from 2023 to 2032.

Q2.

What is the Heart Pump Device market growth rate?

Ans.

The growth rate of the Heart Pump Device market is 19.1%.

Q3.

Which region holds a major market share for the Heart Pump Device market?

Ans.

North America holds a major market share of the Heart Pump Device market in 2022.

Q4.

Which segment accounted for the largest Heart Pump Device market share?

Ans.

By therapy, the BTT segment accounted for the largest Heart Pump Device market share.

Q5.

Who are the key players in the Heart Pump Device market?
Ans. The global Heart Pump Device market report includes players such as Abbott Laboratories, Abiomed, Medtronic, Teleflex Incorporated, SynCardia Systems, Fresenius Medical Care AG & Co. KGaA, Getinge, CardiacAssist, Inc., Berlin Heart, Jarvik Heart, Inc., CARMAT, SENKO MEDICAL INSTRUMENT Mfg. CO., LTD., Angiodroid, and CardioDyme among others.

Q6.

What are the factors driving the Heart Pump Device market growth?

Ans.

The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7.

What are the key growth strategies of Heart Pump Device market players?

Ans.

The key growth strategies of Heart Pump Device market players are product launch and product approval.

Q8.

Which region will provide more business opportunities for the Heart Pump Device market during the forecast period?

Ans.

The Asia-Pacific region will provide more business opportunities for the Heart Pump Device market during the forecast period.

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