Heart Pump Devices Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Heart Pump Devices Market Size

Heart Pump Devices Market Analysis

Ventricular Assist Devices Category Accounts for the Largest Share

Based on product, ventricular assist devices (VADs) hold the largest share, of around 70%, on account of the increasing rate of technological advancements in these products by market players and the unavailability of organ donors. The essential drivers for the category are the rising patient pool suffering from heart failure and the long waiting list for surgeries.

VADs are mechanical pumps that are surgically implanted into the heart to help it pump blood to the rest of the body. They are used in patients with a weakened heart or cardiac failure to temporarily maintain systolic function, before receiving a transplant or until the organ’s complete functionality returns. VADs may also be used as a permanent support therapy. Therefore, the procedure may be lifesaving and can significantly improve a patient’s quality of life.

Moreover, many companies are increasing R&D on mechanical cardiac pump technology, to improve patient outcomes. For instance, in February 2020, Abbott Laboratories announced that the U.S. Food and Drug Administration has designated its in-development fully implantable left ventricular assist system (FILVAS) as a Breakthrough Device. The FDA launched the Breakthrough Devices Program to help expedite the development and review of submissions for technologies that offer significant advantages over the existing approved products. In the future, the approval of these products by government bodies is expected to help generate more revenue in this category.

The intra-aortic balloon pumps category is expected to witness healthy growth. This device is suitable for patients who have recently experienced cardiac insufficiency, as it eases the burden on the still-beating human heart by forcing blood into the coronary arteries, which are not receiving an adequate supply.

Implanted Category Accounts for a Larger Share

Based on type, the implanted category holds a larger share. This is due to the better quality of life and longer survival after a heart transplant these variants offer and the product launches by market players. For instance, in 2022, Abiomed announced that the first participant in an FDA-regulated Early Feasibility Study (EFS) had been successfully implanted with the Impella Bridge-to-Recovery device.

Whereas, the extracorporeal category is expected to experience a higher growth rate, due to the rising usage of the extracorporeal membrane oxygenation procedure. ECMO is an advanced life support technique used for critically ill patients with severe cardiopulmonary insufficiency that has not responded to conventional management approaches. During the procedure, a patient’s blood is continuously removed from the body through the ECMO machine, wherein it is oxygenated, and then returned to the patient, thus temporarily replacing the lung function (i.e., veno-venous ECMO) or both the cardiac and pulmonary functions (i.e., veno-arterial ECMO).

Moreover, in April 2023, Abbott Laboratories received clearance from the Food and Drug Administration for its CentriMag blood pump, which can be used to provide long-term life support to critically ill patients, thus providing doctors with more time to make critical care decisions.

BTT Category Is Expected to Register Fastest Growth

The bridge-to-transplant (BTT) category is expected to experience the fastest growth in the coming years. This is due to the rising awareness of transplantation and the availability of LVADs for bridge-to-transplant procedures. According to the United Network for Organ Sharing, in 2022, over 3,850 heart transplants were performed across the U.S., each providing the opportunity to a recipient with end-stage heart disease to regain the desired quality of life. Bridges to transplantation are used to help patients who are listed for a heart or lung transplant, acting to temporize whilst on the waiting list.

Hospitals Hold the Largest Revenue Share

Hospitals held the largest share, of 50%, in the past. This is attributed to the rising prevalence of cardiovascular diseases, which is leading to a surging number of patient visits to hospitals. Moreover, the number of cardiac assist device implants is increasing due to the easy availability of reimbursement for such procedures, which helps in reducing the financial burden on patients. For instance, as per a report, around 7.7 million people are suffering from diseases of the circulatory system in the U.K.

Product Launches and Mergers and Acquisitions by Market Players

In order to maintain a strong market position, the key players have adopted several strategies, such as product launches, collaborations, and acquisitions. For instance;

In April 2023, Abbott Laboratories completed the acquisition of Cardiovascular Systems Inc. (CSI), as part of its investment in its vascular device portfolio. The move enhances Abbott’s ability to care for patients with peripheral and coronary artery disease.

Moreover, in March 2023, Abbott announced that the FDA approved its Epic Max stented tissue valve to treat people with aortic valve disease. This device is designed to achieve an appreciable blood flow.

Regional Analysis

North America Is Prime Revenue Contributor

North America captured the largest revenue share in the market, of around 45%, in 2022. This is attributed to the rising demand for technologically advanced cardiac assist devices due to the increasing prevalence of cardiovascular diseases. In Canada, according to government statistics, heart disease is the second-leading cause of death after cancer, with approximately 67,400 individuals in the country dying as a result of these issues in 2020.

Thus, the major factor that is driving the market is the increasing burden of various cardiac diseases, such as stroke and cardiomyopathy. As per a report by the Canadian Chronic Disease Surveillance System (CCDSS) updated in 2022, every hour, a Canadian may have a heart attack. This situation is giving rise to a substantial demand for heart pump devices for the better management of these diseases, which will support the growth of the market in Canada.

The APAC region is expected to register the fastest growth during the forecast period, due to the increase in the count of government initiatives to support patients with CVDs, rising funding for R&D, and product launches. For instance, in 2022, an implantable left ventricular assist device, named HeartCon, was approved by China’s National Medical Products Administration for entry into the market. It is an implantable LVAD with magneto hydrodynamic levitation technology.

Various governments and institutes have allocated funds for research and development activities in order to create devices based on novel and cost-effective technologies for those afflicted by CVDs. For instance, according to the National Bureau of Statistics of China, in 2021, a total of RMB 2,795.63 billion was invested in R&D across the country.

The European region also holds a significant share due to the rising number of diabetic patients, who are at a high risk of diseases of the circulatory system. Moreover, eating unhealthy food or processed food directly contributes to a rise in cholesterol levels and raises the risk of CVDs, stroke, and diabetes. Therefore, the severe blockage of a coronary artery makes cardiac assist devices necessary. Furthermore, hospitals are making several changes to their services by adopting advanced technologies to address the growing burden of such issues.

Market Breakdown

This fully customizable report gives a detailed analysis of the heart pump devices industry from 2019 to 2030, based on all the relevant segments and geographies.

Based on Product

• Ventricular-Assist Devices
  • Left ventricular-assist device (LVAD)
  • Percutaneous ventricular-assist device (PVAD)
  • Biventricular ventricular-assist device (BIVAD)
  • Right ventricular-assist device (RVAD)
• Intra-Aortic Balloon Pumps
• Total Artificial Hearts

Based on Type

• Implanted
• Extracorporeal

Based on Therapy

• Bridge-to-Transplant (BTT)
• Bridge-to-Candidacy (BTC)
• Destination Therapy (DT)

Based on End User

• Hospitals
• Cardiac Centers
• Ambulatory Surgical Centers

Regional Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • U.A.E.

Top Heart Pump Devices Companies