Prominent factors driving the growth of this market consist of increasing incidence of cardiac disease, rapid advancement in surgical technique in VAD implantation, increasing popularity of minimal invasive surgical procedures in cardiology, regulatory approval of heart pump devices are fuel the growth of heart pump devices market
Global Heart Pump Devices Market is projected to register a healthy CAGR in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025..
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Key Points: Global Heart Pump Devices Market
In 2017, the global heart pump devices market is dominated by Abbott followed by
- Teleflex Incorporated
- Abiomed and others.
- The intra-aortic balloon pumps segment is dominating the global heart pump devices market.
- Left Ventricular Assist Devices segment is expected to grow with the highest CAGR in the forecast period 2018 to 2025.
Market Segmentation: Global Heart Pump Devices Market
- On the basis of product the global heart pump devices market is segmented into ventricular assist devices, intra-aortic balloon pump, total artificial heart (TAH). In 2018, intra-aortic balloon pumps are expected to dominate the global heart pump devices market with highest market shares in the forecast period 2018 to 2025. However, ventricular assist devices are expected to grow at the highest CAGR in the forecast period. Ventricular assist devices is further sub segmented into left ventricular assist devices, right ventricular assist device, a biventricular assist device (BiVAD), and percutaneous ventricular assist device.
- On the basis of type the global heart pump devices market is categorized into implantable heart pump devices and extracorporeal heart pump devices. In 2018, implantable heart pump devices are expected to dominate the global heart pump devices market with the highest CAGR in the forecast period 2018 to 2025.
- On the basis of therapy global heart pump devices market is segmented into bridge-to-transplant (BTT), bridge-to-candidacy (BTC) destination therapy and others. In 2018, bridge-to-transplant (BTT) are expected to dominate the global heart pump devices market in the forecast period 2018 to 2025.
- On the basis of end user the global heart pump devices market is segmented into hospitals, ambulatory surgical centers, clinics and research institutes. In 2018, hospitals are expected to dominate the global heart pump devices market with 44.2% market shares in the forecast period 2018 to 2025.
- Based on geography, the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa.
TABLE OF CONTENTS GLOBAL HEART PUMP DEVICES MARKET
2 MARKET SEGMENTATION
3 MARKET OVERVIEW
4 EXECUTIVE SUMMARY
5 PREMIUM INSIGHTS
6 GLOBAL HEART PUMP DEVICES MARKET, BY PRODUCTS
7 GLOBAL HEART PUMP DEVICES MARKET, BY TYPE
8 GLOBAL HEART PUMP DEVICES MARKET, BY THERAPY
9 GLOBAL HEART PUMP DEVICES MARKET, BY END USER
10 GLOBAL HEART PUMP DEVICES MARKET, BY GEOGRAPHY
11 GLOBAL HEART PUMP DEVICES MARKET, COMPANY LANDSCAPE
12 COMPANY PROFILE
13 RELATED REPORTS
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Key Drivers: Global Heart Pump Devices Market
Factors such as increasing incidence of cardiac disease, rapid advancement in surgical technique in VAD implantation, increasing popularity of minimal invasive surgical procedures in cardiology, regulatory approval of heart pump devices are fuel the growth of heart pump devices market.
Increasing Incidence of Cardiac Diseases:
According to Health Data Government, world population from past increase 7 billion and increasing the number of geriatric population. So the number of death from cardiovascular diseases is also increasing. As per the European Society of Cardiology in 2014, approximately 26 million people in all over world suffering from heart failure. Cardiac diseases such as heart attacks, strokes and other circulatory disease is the major cause of premature death in the world.
According to the University of Washington (U.S.), in 2015 approximately 55.0% increase in cardiovascular disease deaths in all over world, and population growth contributed to a 25.0% increase.
According to the Centres for Disease Control and Prevention (CDC), Coronary heart disease (CHD) is the most common type of heart disease and 370,000 people die annually.
As per the Journal of the American College of Cardiology, in 2015 approximately 3,990 patients are currently noted for heart transplant in the U.S.
Increasing regulatory approval and reimbursement procedure of heart pump devices:
Regulatory approval is defined as that approvals by government pricing or health authorities in a country (including FDA and EMEA), product and establishment licenses, registrations or authorizations of any federal, state or local regulatory agency, department, bureau or other governmental entity, in each case. These regulatory approvals are necessary for the commercial manufacture, usage, storage, importation, export, transport or sale of collaboration products in a regulatory jurisdiction. Different countries have different regulatory body for medical device licensing. In India, cardiac implantable medical devices are listed under the classification of medical device rules with regulatory approval and registration by the CDSCO (Central Drug Standard Controller Organization).The CDSCO (Central Drug Standard Controller Organization) is govern by the Drug Controller General of India (DCGI).
- In Aug 2008, SynCardia Systems Inc. (U.S.) received CMS reimbursement for its CardioWest which is a temporary total artificial heart.
- In 2017, Implantable system for remodulin product of Medtronic (U.S.) FDA (Food Drug Administration) approval to market this product.
- In 2017, HeartMate left ventricular assist system product of Thoratec Corporation (U.S.) get FDA approval to market this product.
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Rapid advancement in surgical technique for VAD implantation:
According to the operative techniques in thoratic and cardiovascular surgery in 2014, subcoastal approach introduced to replacement of a HeartMate II device .This approach has been shown to limit operative time, transfusion requirements, and intensive care unit stay and this technique useful, when the exchange is limited to the body of the pump.
HeartAssist5 which is a product of Reliant Heart (U.S.) available in the market with next generation that includes feature of flow accurate diagnostics (direct blood flow measurement).
As per the Diagnostic and Intervetional Cardiology, in 2016, HVAD pump have the advance feature with design rests into the integrated inflow cannula which reduce the requirement oh a separate pocket to hold the pump and there is zero contact between the rotor and the housing. This contactless suspension of impella eliminate haemolysis by providing ample path for circulation.
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