Heart Pump Devices Industry Development, Growth and Demand Forecast to 2030

The total value of the global heart pump devices market was USD 2,212.5 million in 2022, and it will rise at a growth rate of above 22.1% during 2023–2030, reaching USD 10,912.6 million by 2030. This can be credited to the increasing cardiovascular illness occurrence, growing elderly populace, and numerous new product introductions by industry players.

Worldwide, heart failure is one of the most common issues. It is an intricate clinical disorder characterized by the irregular working of the heart, which leads to unsatisfactory cardiac output. As per the Global Burden of Heart Failure article published by the NCBI in 2023, over 65 million individuals are impacted by this condition globally. An artificial heart pump can temporarily aid in the pumping action of the heart.

On the basis of product, ventricular assist devices cornered the largest share, of approximately 70%, in 2022. This is mainly because of the growing rate of technical improvements in such items by industry players and the unattainability of organ donors. The vital drivers for the category are the increasing patient pool going through heart failure and the long waiting list for operations.

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On the basis of type, the implanted category holds a larger heart pump devices market share. This can be credited to the healthier quality of life and lengthier survival after a heart transplant such variants provide and the item introduction by industry players. For example, in 2022, Abiomed declared that the first participant in an FDA-regulated Early Feasibility Study (EFS) had been positively rooted with the Impella Bridge-to-Recovery device.

The bridge-to-transplant category is projected to witness the fastest development in the coming few years. This is because of the increasing consciousness of transplantation and the availability of LVADs for bridge-to-transplant procedures. As per the United Network for Organ Sharing, in 2022, more than 3,850 heart transplants were conducted throughout the U.S., each offering the opportunity to a recipient with end-stage heart illness to recover the wanted quality of life. Bridges to transplantation are utilized to aid patients who are registered for a heart or lung transplant, acting to delay whilst on the waiting list.

In 2022, North America held the largest revenue share in the industry, of approximately 45%. This can be credited to the increasing demand for technically progressive cardiac support devices because of the growing occurrence of cardiovascular illnesses. As per government statistics, In Canada, heart illness is the second-leading reason for demise after cancer, with around 67,400 persons in the nation dying as a result of such problems in 2020.

Hence, the increasing cardiovascular illness occurrence, growing elderly populace, and numerous new product introductions by industry players are the major factors propelling the market.

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