Heart Pump Device Market

Heart Pump Device Market Size:

The heart pump device market size reached US$ 2.41 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.68 Billion by 2032, exhibiting a growth rate (CAGR) of 14.5 % during 2024-2032.  The market is driven by the increasing prevalence of cardiovascular diseases (CVDs), ongoing technological advancements, an ever-increasing elderly population in need of cardiac support, growing demand for minimally invasive (MI) procedures, and increasing awareness of heart failure treatment options.

Heart Pump Device Market Analysis:

• Major Market Drivers: The rising aging population and the global prevalence of CVDs are impelling the market growth. Besides this, there have been major technological improvements with respect to miniaturization and wireless monitoring, which are enhancing the efficacy of the devices and therefore contribute towards market expansion.
• Key Market Trends: The shift toward regenerative therapies and tissue engineering as an alternative to conventional heart pump devices, increasing demand for destination therapy and long-term support solutions, and incorporation of biocompatible materials and coatings represent some key trends governing the heart pump market.
• Geographical Trends: North America holds the dominance in the heart pump device market owing to high disease prevalence, favorable policies toward reimbursement, and technological advancement. Europe follows closely with significant healthcare infrastructure investments and growing demand for advanced cardiac care solutions. Besides this, emerging Asia-Pacific economies show potential growth with their improved healthcare access.
• Competitive Landscape: Some of the major market players in the heart pump device industry include Abbott Laboratories, ABIOMED, Getinge AB., Teleflex Incorporated, Fresenius SE & Co. KGaA, LivaNova PLC, CorWave SA, Jarvik Heart, Inc., Medtronic Plc, SynCardia Systems, among many others.
• Challenges and Opportunities: Heart pump device market challenges include limited donor organ availability, which comes at an expensive cost—especially in developing regions. Opportunities, however, occur in the development of new, innovative therapies, like regenerative medicine, and increasing market reach to underserved areas. Besides this, strategic collaboration and investment in research and development (R&D) allow players in the market to create differentiated offerings and attract consumers from untapped segments.
   

Heart Pump Device Market Drivers:

Advancements in Heart Pump Technology

The modernization of heart pump technology is driving the global heart pump device market toward growth and innovations. Improved device functionality, new materials, and downsizing methods have led to the development of heart pump devices that are more robust, biocompatible, and efficient. SynCardia, for instance, is always coming up with new ideas for its total artificial heart (TAH). Their next-generation TAH designs for patients with end-stage biventricular failure awaiting a heart transplant have earned them a new patent. Moreover, the customization of patient management and remote monitoring has been made possible by the integration of modern monitoring systems and data analytics, improving overall patient care and safety. Heart pump technology is still being researched and developed, and as a result, the market for these life-saving devices is expanding.

Growing Acceptance of Mechanical Circulatory Support

The growing acceptance of mechanical circulatory support (MCS) has emerged as a key driver in the global heart pump device market. With an increasing prevalence of heart failure and limited availability of donor organs for transplantation, MCS devices such as VADs are becoming essential therapeutic options for patients. As per the Scientific Registry of Transplant Recipients (SRTR), out of the adult patients listed for heart transplant in 2016–2018, 56.2% had received their transplant at the end of the first year, 27.8% were in the waiting period, 5.0% had passed away, and 11.0% had undergone removal. By 3 years, 66.7% had undergone transplant, 7.8% were still waiting, 6.3% died, and 19.2% had been removed. Consequently, there is an increased reliance of healthcare providers and patients on MCS, which holds the promise of lengthening survival, improving quality of life, and serving as a bridge to transplantation or destination therapy.

Bridge to Transplant and Destination Therapy

One major factor propelling the worldwide market for heart pump devices is the need for these devices as a palliative before transplant and destination therapies. VADs are used to treat patients who are waiting for a heart transplant or who are not eligible for one as a temporary or permanent remedy. The demand for efficient bridge-to-transplant and destination therapy alternatives grows as the prevalence of heart failure continues to rise, with estimates predicting that over 6.5 million Americans over the age of 20 have heart failure. Furthermore, 960,000 new cases of heart failure are reported each year, according to another study, which increases the need for heart pump devices in these therapeutic settings.

Heart Pump Device Market Opportunities:

Bridge to Recovery and Regenerative Therapies

Researchers investigating novel methods of cardiac care are opening up business prospects in the worldwide heart pump device market for bridge-to-recovery and regenerative medicines. The landmark REMATCH trial that compared LVADs with optimal medical therapy in class IV HF patients found a 48% reduction in mortality from any cause. There was also a significant increase in the survival rates at one year (52% versus 25%) and two years (23% versus 8%). While traditional VADs serve as a bridge to transplantation or destination therapy, advancements in regenerative medicine hold promise for myocardial recovery. Moreover, regenerative therapies aim to restore damaged myocardium and promote cardiac function recovery, potentially reducing the need for long-term MCS.  

Destination Therapy and Long-Term Support

Due to the rising incidence of end-stage heart failure and the growing number of patients who are not suitable for heart transplantation, market prospects in destination treatment and long-term support constitute emerging factors within the global heart pump device market. For patients who are not suitable candidates for cardiac transplant, destination therapy entails using VADs as a long-term therapeutic option. These solutions are becoming more and more necessary to enhance patient outcomes and quality of life as the population ages and the prevalence of heart failure increases. Manufacturers are creating integrated monitoring systems for remote patient management in addition to robust and dependable VADs that can maintain the circulatory system for longer periods of time.

Key Technological Trends & Development:

Biocompatible Materials and Coatings

Technological trends in biocompatible materials and coatings are shaping the future of the global heart pump device market by addressing the challenges of device-host interactions and improving long-term biocompatibility. Innovations in materials science have led to the development of advanced polymers, such as biocompatible titanium alloys and non-thrombogenic coatings, which reduce the risk of thrombosis and foreign body reactions. These materials enhance device durability and compatibility, minimizing adverse events and improving patient outcomes. Additionally, bioactive coatings incorporating drug-eluting or antimicrobial agents help mitigate inflammation and infection, enhancing device performance, and thus strengthening the market growth.   

Hybrid and TAH Systems

Technological advancements in TAH and hybrid systems are transforming the way end-stage heart failure is treated, providing patients who are not eligible for organ transplantation with novel options. With hybrid systems, some degree of cardiac function is preserved while circulatory support is provided by combining VADs with the natural heart. In contrast, TAH systems replace the failing heart entirely with a mechanical device that maintains circulation. Modern sensors, sophisticated algorithms, and biocompatible materials are all included in these cutting-edge devices to maximize hemodynamics and reduce problems. Modular designs and minimally invasive implantation methods also boost patient eligibility and improve surgical results. As hybrid and TAH systems continue to evolve, they are bolstering the heart pump device market, offering life-saving alternatives for patients with advanced heart failure.

Regenerative Medicine and Tissue Engineering

Technological advancements in regenerative medicine and tissue engineering are driving innovation in the global heart pump device market, offering new avenues for myocardial repair and regeneration. Regenerative therapies may be used to improve the healing mechanisms of the body itself to repair damaged myocardium. Stem cells, tissue-engineered constructs, and gene editing techniques are being considered as methods of regenerating myocardial tissue and promoting recovery in patients with heart failure. In addition, biomaterial and scaffold technologies have advanced enough that the fabrication of bioengineered cardiac patches and constructs can be made for transplantation or in situ tissue regeneration. As regenerative medicine progresses, it has great potential to change the heart failure treatment landscape: it could be used as a regenerative therapy, either as an adjunct to a heart pump device or as a stand-alone intervention, which is aiding in market expansion.

Heart Pump Device Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product, type, therapy, and end user.

Breakup by Product:

• Ventricular Assist Devices
  • Left Ventricular Assist Devices (LVAD)
  • Percutaneous Ventricular Assist Devices (PVAD)
  • Biventricular Ventricular Assist Devices (BIVAD)
  • Right Ventricular Assist Devices (RVAD)
• Intra-Aortic Balloon Pumps
• Extracorporeal Membrane Oxygenation (ECMO)
• Total Artificial Hearts
   

Ventricular assist devices account for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the product. This includes ventricular assist devices [left ventricular assist devices (LVAD), percutaneous ventricular assist devices (PVAD), biventricular ventricular assist devices (BIVAD), and right ventricular assist devices (RVAD)], intra-aortic balloon pumps, extracorporeal membrane oxygenation (ECMO), and total artificial hearts. According to the report, ventricular assist devices represented the largest segment.

The demand for VADs, including LVADs, PVADs, BIVADs, and RVADs, is primarily propelled by their critical role in providing life-saving circulatory support for patients with advanced heart failure. LVADs, in particular, are increasingly utilized as bridge-to-transplantation or destination therapy, offering a viable alternative for patients ineligible for heart transplantation. The rise in the prevalence of heart failure, coupled with advancements in device technology enhancing durability and efficacy, has expanded the indications for VAD therapy, driving demand across various product categories within the heart pump device market.

Breakup by Type:

• Implanted Heart Pump Device
• Extracorporeal Heart Pump Device
   

Implanted heart pump device holds the largest share of the industry

A detailed breakup and analysis of the market based on the type have also been provided in the report. This includes implanted and extracorporeal heart pump devices. According to the report, implanted heart pump device accounted for the largest market share.

The demand for implanted heart pump devices fueled by their effectiveness in providing long-term circulatory support for patients with end-stage heart failure is fostering market expansion. These devices, such as VADs and TAHs, offer a crucial lifeline for individuals awaiting heart transplantation or ineligible for the procedure. As the prevalence of heart failure continues to rise globally, the need for durable and reliable solutions for long-term support grows. Besides this, implanted heart pump devices also provide patients with improved quality of life and increased survival rates, driving their demand as a vital therapeutic option in the management of advanced heart failure.

Breakup by Therapy:

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

Bridge-to-transplant (BTT) represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the therapy. This includes bridge-to-transplant (BTT), bridge-to-candidacy (BTC), destination therapy (DT), and others. According to the report, bridge-to-transplant (BTT) represented the largest segment.

The demand for heart pump devices in the BTT therapy segment is primarily driven by the critical role these devices play in providing temporary circulatory support for patients awaiting heart transplantation. With the limited availability of donor organs and increasing wait times for transplantation, VADs serve as a vital bridge, sustaining patients' lives until a suitable donor heart becomes available. Additionally, advancements in device technology have improved the durability and reliability of VADs, enhancing patient outcomes and expanding the eligible patient population for BTT therapy. As a result, the demand for heart pump devices in the BTT therapy segment continues to grow, addressing the urgent need for effective solutions in the management of end-stage heart failure.

Breakup by End-User:

• Hospitals
• Cardiac Centers
• Ambulatory Surgical Centers
• Others
   

Hospitals exhibit a clear dominance in the market 

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes hospitals, cardiac centers, ambulatory surgical centers, and others. According to the report, hospitals accounted for the largest market share.

The demand for heart pump devices among hospitals spurred by the increasing prevalence of CVDs and the rising number of heart failure cases requiring advanced cardiac support is providing an impetus to the market growth. Hospitals serve as crucial centers for the diagnosis, treatment, and management of heart failure, and the adoption of heart pump devices enables them to offer comprehensive care to patients with complex cardiac conditions. Additionally, advancements in device technology and surgical techniques have made the implantation of heart pump devices safer and more accessible, leading to a higher acceptance rate among healthcare providers and patients alike. As hospitals strive to enhance their cardiac care capabilities and improve patient outcomes, the demand for heart pump devices as a critical component of cardiovascular therapy continues to rise.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East
• Africa
   

North America leads the market, accounting for the largest heart pump device market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); the Middle East; and Africa. According to the report, North America represents the largest regional market for heart pump devices.

In North America, the demand for heart pump devices is driven by several factors, including the high prevalence of CVDs, a rapidly aging population, and robust healthcare infrastructure. The region witnesses a significant burden of heart failure cases, necessitating advanced treatment options such as VADs and TAHs. Moreover, favorable reimbursement policies and increasing investments in healthcare technology contribute to the widespread adoption of heart pump devices across healthcare facilities. Additionally, the presence of key market players and research institutions focused on cardiac care fosters innovation and drives the development of next-generation devices, further propelling the demand for heart pump devices in North America.

Analysis Covered Across Each Country:

• Historical, current, and future market performance
• Historical, current, and future performance of the market based on product, type, therapy, and end user.
• Competitive landscape
• Government regulations
   

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape covering market structure, market share by key players, market player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant, among others. Detailed profiles of all major companies have also been provided. This includes business overview, product offerings, business strategies, SWOT analysis, financials, and major news and events. Some of the major market players in the heart pump device industry include Abbott Laboratories, ABIOMED, Getinge AB., Teleflex Incorporated, Fresenius SE & Co. KGaA, LivaNova PLC, CorWave SA, Jarvik Heart, Inc., Medtronic Plc, SynCardia Systems, etc. The competitive landscape of the global heart pump device market is characterized by intense competition among key players, including medical device manufacturers, biotechnology companies, and research institutions. Established companies dominate the market with a wide range of VADs and TAHs, supported by extensive research and development (R&D) efforts and strong distribution networks. These companies focus on technological advancements, including miniaturization, wireless monitoring, and improved biocompatibility, to enhance device performance and patient outcomes. Additionally, strategic collaborations, mergers, and acquisitions are common strategies employed by market players to expand their product portfolios, geographic presence, and market share.

Analysis Covered for Each Player:

• Market Share
• Business Overview
• Products Offered
• Business Strategies
• SWOT Analysis
• Major News and Events
   

Heart Pump Device Market News:

• In April 2022, Abiomed revealed that it had successfully implanted the Impella Bridge-to-Recovery (BTR) heart pump, a forward flow pump, as part of the FDA's Early Feasibility Study. The BTR, which can pump over six liters of blood per minute, is smaller and less invasive than current LVADs and is designed for patients with chronic heart failure.
• On June 30, 2021, Abiomed's heart pump Impella RP with SmartAssist technology received the United States FDA pre-market approval.
   

Heart Pump Device Market Report Scope:

Key Questions Answered in This Report:

• How has the global heart pump device market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global heart pump device market?
• What is the impact of each driver, restraint, and opportunity on the global heart pump device market?
• What are the key regional markets?
• Which countries represent the most attractive heart pump device market?
• What is the breakup of the market based on the product?
• Which is the most attractive product in the heart pump device market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the heart pump device market?
• What is the breakup of the market based on the therapy?
• Which is the most attractive therapy in the heart pump device market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the heart pump device market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global heart pump device market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the heart pump device market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global heart pump device market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the heart pump device industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.