Global Circulatory Support Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Circulatory Support Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global circulatory support devices market report has been segmented on the basis of type, application, and region.
Global Circulatory Support Devices Market: Overview
There is a constant increase in heart associated diseases across the globe, this can be attributed to stress, changing lifestyle pattern, etc. Mortality due to cardiovascular diseases and heart failure is still a major concern among practitioner. According to the American Heart Association, in the US patient suffering from cardiovascular diseases are 85.6 Mn, out of them 5.7 Mn are living with heart failure.
Global Circulatory Support Devices Market: Dynamics
Increasing adoption of circulatory support devices from patients with heart or pulmonary failure and require mechanical assistance either temporarily or permanently in order to support the action of failing heart or lungs is a major factor expected to drive growth of the global circulatory support devices market
In addition, rising number of patients suffering from cardiovascular and heart associated diseases, coupled with rising incidences of chronic heart failure are other factors expected to support growth of the market
Moreover, increasing prevalence’s of cardiogenic shock across the globe and being the most common cause of in-hospital mortality is among other factors expected to boost the market growth.
However, high cost of devices, malfunction of the device, and lack of infrastructural facilities in developing countries are major factors expected to hamper growth of the global circulatory support devices market. In addition, lack of regulatory standards and non-favorable reimbursement policies are among other factors expected to challenge growth of the global market.
Technological advancements by major players and manufacturers approach towards the development of an advanced device with improved pump design and further miniaturization are factors expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period.
Global Circulatory Support Devices Market: Segment
Among the product segments, the ventricular assist device segment is expected to dominate in the target market over the forecast period.
Among the end user segments, the hospital segment is expected to dominate in the target market over the forecast period.
Global Circulatory Support Devices Market: Region
The markets in North America and Europe are expected to contribute significant revenue shares in the global circulatory support devices market. This can be attributed to the well-developed healthcare infrastructure in order to facilitate the adoption of advanced medical devices.
In addition, rising number of patient suffering from heart associated diseases, favorable reimbursement policies, and the presence of major players operating in the countries in the market. In 2016, in the US, coronary heart disease was the leading cause of death (43.2%), followed by stroke (16.9%), high blood pressure (9.8%), heart failure (9.3%), diseases of the arteries (3.0%), and other cardiovascular diseases (17.7%).
The market in Asia Pacific is expected to witness faster growth, owing to the rising percentage of heart attack mortality and the presence of prominent players operating in emerging economies in this region. In addition, growing merger and acquisition activities between regional and international players are expected to further support market growth to a certain extent.
Global Circulatory Support Devices Market Segmentation
Segmentation by product
- Total Artificial Heart
- Ventricular Assist Device
- Extracorporeal Membrane Oxygenation
Segmentation by end user
- Ambulatory Centers
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- ABIOMED, Inc.
- Berlin Heart GmbH
- CardiacAssist, Inc.
- Corwave SAS
- Evaheart, Inc.
- Jarvik Heart Inc.
- Leviticus Cardio Ltd.
- Medtronic plc.
- ReliantHeart Inc.
- Jude Medical, Inc.
- CHF Solutions, Inc.
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