Heart Pump Market Size, Share, Growth, And Industry Analysis, By Type (Implantable Heart Pump Devices and Extracorporeal Heart Pump Devices), By Application (Bridge-to-transplant (BTT), Bridge-to-candidacy (BTC), Destination Therapy (DT) and Others), Regional Insights and Forecast To 2032

Updated On: 22 April 2024

Heart Pump Market Report Overview

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The global heart pump market size was USD 2110.5 million in 2021 and market is projected to touch USD 14459.4 million by 2032, exhibiting a CAGR of 18.9% during the forecast period.

The global Covid-19 pandemic has been unprecedented and staggering, with the heart pump market experiencing higher than anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

A mechanical device that assists the heart's pumping action is referred to as a heart pump or ventricular assist device (VAD). Patients who need a heart transplant or who have serious heart failure frequently utilise it. A heart pump's function is to supplement or take the place of a failing or weak heart in the process of pumping blood throughout the body. The LVAD is typically surgically implanted in the chest, with a tube connecting the left ventricle to the pump and another tube connecting the pump to the aorta, the main artery that carries oxygenated blood from the heart to the rest of the body.

COVID-19 Impact: Pandemic Hamper the Demand of Heart Pump to Market Growth

The impact of COVID-19 on heart pump (ventricular assist device) patients can vary depending on various factors, including the patient's overall health, the severity of their heart condition, and the course of their COVID-19 infection. Patients who use heart pumps, like other people with cardiovascular problems, may be more likely to have serious complications if they contract COVID-19. Although the virus mostly harms the respiratory system, it can also inflame and harm other organs, including the heart. These patients are more vulnerable since their heart function is already weakened.       

Latest Trends

"Miniaturization of devices Will Increase Market Growth"

 Researchers and manufacturers are focusing on developing smaller and more compact ventricular assist devices (VADs). Miniaturization allows for less invasive implantation procedures and improved patient comfort, while maintaining or enhancing device performance.

Heart Pump Market Segmentation

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• By Type Analysis

According to type, the heart pump market can be segmented into implantable heart pump devices and extracorporeal heart pump devices.

In terms of type, extracorporeal heart pump devices type is anticipated to be the largest segment during the forecast period.  

• By Application Analysis

Based on application, the heart pump machine market can be bridge-to-transplant (BTT), bridge-to-candidacy (BTC), destination therapy (DT) and others.

In terms of application, the destination therapy (DT) market is projected to hold a heart pump market share through 2032.

Driving Factors

"Heart Failure Prevalence Will Boost Market Growth "

 Heart failure is a significant health concern globally, with a growing number of individuals affected. The increasing prevalence of heart failure creates a demand for innovative solutions to support and extend the lives of patients. Heart pumps provide a viable option for those with advanced heart failure.

"Limited Availability of Donor Organs Will Fuel Market Growth  "

 Heart transplantation is an effective treatment for end-stage heart failure. However, the supply of donor hearts is limited compared to the demand. As a result, ventricular assist devices (VADs) and heart pumps serve as a bridge to transplantation or as a long-term therapy option for patients who are not eligible for transplantation. The scarcity of donor organs drives the need for advanced heart pump technology.

Restraining Factors

"Device-Related Complications Will Limit Market Growth"

While heart pumps have advanced significantly in terms of durability and reliability, they can still be associated with certain complications. These complications include infection, bleeding, device malfunction, blood clot formation, and the need for anticoagulant medications. The potential risks and complications associated with heart pump therapy may deter some patients or healthcare providers from pursuing this treatment option.

Heart Pump Market Regional Insights

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"The North America Region will Dominate Market Due to Strong Demand of Healthcare System "

North America, particularly the United States, has been at the forefront of heart pump development and utilization. The region has a well-established healthcare system, advanced medical technology, and a high prevalence of heart failure. The United States Food and Drug Administration (FDA) has approved several ventricular assist devices (VADs) for use, and heart pump therapy, including destination therapy, is well-established. However, the cost of heart pumps and access to specialized centers can be limiting factors for some patients.

Europe has made significant contributions to the development of heart pump technology, with several European countries having a strong presence in the field. Countries like Germany, the United Kingdom, and Sweden have been leaders in heart pump research and clinical trials. The European Society of Cardiology (ESC) has provided guidelines for the use of VADs, and reimbursement policies vary across countries. There is ongoing effort to increase access and equity in heart pump therapy across Europe.

Key Industry Players

"Adoption Recycling Services by Key Players Influencing Market Development"

The top key players in the heart pump market are Abbott Laboratories, Abiomed, Medtronic, Getinge, Syncardia Systems. Most of the top players hold the heart pump market share. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the heart pump market growth in the competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession of market shares by the key players stimulates the heart pump market.  

List of Market Players Profiled

• Abbott Laboratories (U.S.) 
• Abiomed (U.S.)
• Medtronic (U.S.)
• Getinge (Sweden)
• Syncardia Systems (U.S.)
• Teleflex (U.S.)
• Reliantheart (U.S.)
• Terumo (Japan)
• Berlin Heart (Germany)
• Jarvik Heart (U.S.)
• Cardiacassist (U.S.)
• Fresenius Medical Care (Germany)   

Report Coverage

This report examines an understanding of the heart pump market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.