The global Heart Pump Device market valued USD 1983.10 billion in 2021 and estimated to USD 6162.34 billion by 2028, with a (CAGR) of 20.80 %.
FrequentlyAsked Questions
The need for heart pump devices is being driven by an increase in the prevalence of cardiovascular disorders, an increase in the number of regulatory approvals, and a large gap between the demand and availability of donor hearts. The rising reliance on ventricular assist devices for the treatment of heart failure, as well as technological improvements to improve the safety of these devices, are driving the ventricular assist devices market. During the projection period, the high cost of devices and implantation procedures, as well as the poor reimbursement situation in developing countries, are projected to limit the market's growth.
According to the Market Research report, the global Heart Pump Device market was worth about 1983.10 (USD billion) in 2021 and is predicted to grow to around 6162.34 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 20.80 percent.
Due to an increase in the prevalence of cardiovascular illnesses and an ageing population, the Americas dominate the market for heart pump devices. Furthermore, the government's increasing initiatives, as well as financing for research and development in breakthrough medical treatment alternatives, will propel the heart pump devices market in the region to new heights over the forecast period. Asia-Pacific is predicted to witness significant growth in the heart pump devices market due to an increase in the prevalence of chronic cardiovascular disorders and growing healthcare costs. In addition, the growing standard of living in the region is likely to boost the growth of the heart pump devices market in the coming years.
Some of the main competitors dominating the global Heart Pump Device market include - Abbott Laboratories (US), Abiomed (US), Medtronic (Ireland), Teleflex Incorporated (US), SynCardia Systems (US), Fresenius Medical Care AG & Co. KGaA (Germany), Getinge (Sweden), CardiacAssist, Inc. (US), Berlin Heart (Germany), Jarvik Heart, Inc. (US), CARMAT (France), SENKO MEDICAL INSTRUMENT Mfg. CO., LTD. (Japan), Angiodroid (Italy), CardioDyme (US), and World Heart Corporation (US).
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