Artificial Heart Market - Global Industry Analysis

Global Artificial Heart Market: Overview

An artificial heart is surgically installed in the body to facilitate blood circulation and substitute damaged heart ventricles. The ventricles help in pumping out the blood to all the parts of the body. The external machines control the implanted pump which aids in the blood flow in and out of the heart. An artificial heart is a kind of mechanical circulatory support system. An artificial heart is a historical innovation in the medical field and is highly useful in treating patients suffering from end-stage biventricular heart failure. An artificial heart is a kind of prosthetic device installed in the body to substitute an organic mammalian heart. The device is pneumatically driven.

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Global Artificial Heart Market: Growth Factors

Artificial hearts are high in demand from patients who cannot effectively undergo heart transplant surgery. Over this past decade, the global artificial heart market has significantly shown enormous growth and is expected to grow exponentially over the forecast period. The transforming modern lifestyle of people is causing a large number of diseases in the body. Improper lifestyle is the primary key factor for growing cases of cardiac conditions. According to the World Health Organization, the cardiovascular disease segment causes millions of deaths every year. In addition, the growing sedentary lifestyle of people is fuelling the cases of cardiovascular diseases. Furthermore, the surging consumption of an unbalanced diet, alcohol, tobacco, and smoking are significantly augmenting the prevalence of cardiovascular diseases globally. There is a significant spike in the number of patients suffering from end-stage heart failure like congestive heart failure. When integrated with different cardiac assisting devices, an artificial heart plays an important role in treating end-stage heart failure. Researchers are making relentless efforts to bring substantial development by concentrating on enhancing the durability of mechanical circulatory support. Also, a lack in the number of heart donors is a key factor catalyzing the growth of the global market. The growing aging population all across the globe will significantly pose a huge demand in the coming years. Also, the growing awareness among people regarding the easy availability of artificial heart surgeries and their associated benefits will scale the adoption rate of artificial heart surgery globally. Artificial heart surgery has emerged as a viable option for people suffering from acute biventricular dysfunction. Manufacturers are launching technologically advanced products and governments all around the globe are also making efforts to strengthen their healthcare infrastructure, which in turn will also support the growth of the global artificial heart market.

Global Artificial Heart Market: Segmentation

The global market can be segmented into end-user, type, and region.

By end-user, the market can be segmented into specialties centers, hospitals & clinics, and others. The hospital segment accounts for the largest share in the global artificial heart market.

By type, the market can be segmented into the mechanical heart and heart-lung machines.

The mechanical heart segment can further be bifurcated into ventricular assist devices and total artificial heart. The total artificial heart segment dominates the global artificial heart market.

Global Artificial Heart Market: Regional analysis

North America accounts for the largest share in the global artificial heart market due to the growing problems of neurological, cardiovascular, and other infections in the region. However, the growing geriatric population is another trigger factor for the growth of the regional market. However, the growing competition among the market players in the region offering high-quality devices at affordable prices, which in turn will significantly fuel the adoption rate of the artificial heart. However, the growing sedentary and modern lifestyle of people in the region is likely to accentuate the cases of cardiovascular diseases in the forthcoming years.

Europe accounts for the second-largest share in the global artificial heart market due to the growing expenditure on healthcare in the region. Also, the fast proliferating medical device sector in the region due to the presence of prominent market leaders will also support the growth of the regional market.

Asia Pacific is expected to be the fastest-growing region in the global artificial heart market due to the growing initiatives from the government to lower the burden of heart diseases in the region. The growing number of clinical trials and research studies in the region is likely to further promulgate the growth of the regional market in the forthcoming years.

Global Artificial Heart Market: Competitive Players

Some of the significant players in the global artificial heart market are Jarvik Heart, Inc., BiVACOR, Inc., CARMAT SA, SynCardia Systems, LLC, MyLVAD, Thoratec Corporation, Cirtec, Abbott, ON-X LIFE TECHNOLOGIES INC., ABIOMED, Cleveland Heart, Inc., Tianjin Medical, Braile Biomedica, Edwards Lifesciences, C. R. Bard Inc., Terumo Corporation, MAQUET GmbH & Co. KG, Sorin Group, and Medtronic Inc. Several companies are undergoing mergers and collaborations to boost their research operations and launch advanced products in the market.

Global Artificial Heart Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.