Centrifugal Blood Pumps Market Size, Share & Trends Analysis Report By Type (Electrical, Mechanical), By End-use (Hospitals, Ambulatory Surgical Centers), By Region (North America, Europe), And Segment Forecasts, 2024 - 2030

Centrifugal Blood Pumps Market Size, Share & Trends Analysis Report By Type (Electrical, Mechanical), By End-use (Hospitals, Ambulatory Surgical Centers), By Region (North America, Europe), And Segment Forecasts, 2024 - 2030

Centrifugal Blood Pumps Market Growth & Trends

The global centrifugal blood pumps market size is expected to reach USD 136.1 million by 2030, registering a CAGR of 5.0% during the forecast period, according to a new report by Grand View Research, Inc. Demand for centrifugal blood pumps is increasing owing to its several advantages such as low maintenance costs, small in size, and less capital investment. Thus, such advantages offered by centrifugal blood pumps are estimated to fuel the market growth during the forecast period.

Growing clinical experience and cardiotomy suction devices have led to a significant increase in usage of mechanical centrifugal blood pumps and to the improvement of outcomes after short and long-term support. As the interventional methods in the cardiovascular field continue to develop and a majority of critically ill patients undergo treatment, the demand for mechanical centrifugal blood pumps is increasing drastically in this field.

Changing lifestyles and an increase in the prevalence of lifestyle-associated diseases are also expected to contribute to market growth. The increasing prevalence of diseases such as diabetes, obesity, and cardiovascular diseases coupled with the rising number of geriatric population are fueling the demand for cardiovascular procedures. Treatment of such diseases involves the use of cardiotomy suction devices, which, in turn, is expected to drive the market over the forecast period.

Centrifugal Blood Pumps Market Report Highlights

• The electronic segment held the largest revenue share in 2023. High product efficacy is a major factor augmenting segment growth.
• The hospitals segment is leading market growth due to the increasing number of patient visits and advanced infrastructure in hospitals as compared to other healthcare facilities.
• North America held the largest revenue share in the market in 2023 and is predicted to maintain its dominance over the forecast period. This is attributable to strong per capita healthcare spending and favorable healthcare policies that have led to the introduction of cardiotomy suction devices.

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