Centrifugal Blood Pump Market Size, Share, Growth Report 2030

Centrifugal Blood Pump Market

Centrifugal Blood Pump Market by Type (Electronic Centrifugal Blood Pump, Mechanical Centrifugal Blood Pump) by End-User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026

Category: Healthcare Report Format : PDF Pages: 110 Report Code: ZMR-5959 Published Date: Mar-2021 Status : Published

The global centrifugal blood pump market generated USD 858.57 Million in 2019 and is predicted to reach USD 1,170.17 Million by 2026, increasing at 4.52%.

The centrifugal blood pump market is set for a rapid growth over the forecast period. In terms of revenue, the global centrifugal blood pump market accounted for USD 858.57 Million in 2019 and is expected to reach USD 1,170.17 Million by 2026, growing at a CAGR of 4.52%

Global Centrifugal Blood Pump Market: Overview

With the use of centrifugal blood pump, the blood is pumped into the extracorporeal bypass circuit that can provide extracorporeal circulatory support during cardiopulmonary bypass surgery. Centrifugal blood pump is also referred as cardiotomy suction device. The development of extracorporeal life support technology has introduced new innovative aspect to intensive care management of chronic cardiac and respiratory failure in neonates, infants, and adults who have failed traditional treatment. Manufacturers are concentrating on designing cost-effective extracorporeal circulatory devices for cardiopulmonary bypass surgeries, according to reports. The demand for extracorporeal support systems is expected to increase, which will fuel the demand for centrifugal blood pumps.

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Centrifugal blood pumps have been used in routine cardiac surgery for many years now. Ventricular assist devices have become well-known for offering short-term biventricular assistance support. The use of centrifugal blood pumps as mechanical assist devices for heart failure generated significant revenue for the centrifugal blood pump market. Such devices have seen impressive improvements in design as well as materials used over time, resulting in a lower thrombosis rate and biological protection. In the centrifugal blood pump industry, a growing variety of biocompatible surface options has extended the options for centrifugal pumps. They also cause a decrease in haemolysis. Motor technologies have evolved, and they are now an essential part of the design parameters for better surgical outcomes. Pump flow is maximised and adverse thrombosis events are reduced using advanced motors.

Report Scope:

Report Attributes Report Details
Report Name Centrifugal Blood Pump Market Report
Market Size in 2019 USD 858.57 Million
Market Forecast in 2026 USD 1,170.17 Million
Compound Annual Growth Rate CAGR of 4.52%
Number of Pages 110
Forecast Units Value (USD Billion), and Volume (Units)
Key Companies Covered Thoratec Corporation (Abbott), Medtronic Plc, Terumo Corporation, Braile Biomedica Ltd., Qura Srl, XENIOS AG (Fresenius Medical Care Company), LivaNova, PLC, and Getinge AB
Segments Covered By Type,By end-user, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)
Countries Covered North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
Base Year 2021
Historical Year 2016 to 2020
Forecast Year 2022 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Global Centrifugal Blood Pump Market: Growth Factors

Developments in cardiac assist systems have been linked to a lower occurrence of adverse effects such as hemolysis, post-procedure Liver Function Tests (LFT) abnormalities, and thromboembolic events. The use of such pumps for critically ill patients with myocardial infarction is increasing, which is driving demand for centrifugal blood pumps. Over time, both developed and developing countries have seen an increase in the number of advanced interventional cardiac procedures. With increasing demand for cardiac assist devices for cardiopulmonary bypass, the centrifugal blood pumps market is expected to grow.

The advent of third-generation ventricular assist systems has opened up new opportunities in the market for centrifugal blood pumps. These are motors with actively magnetically levitated rotors and are made of high-performance molded plastics. The increasing use of such pumps is a key trend that is boosting the industry. Furthermore, in recent years, the demand for centrifugal blood pumps has been strengthened by steadily increasing indications for heart transplantation.

Mechanical centrifugal blood pumps were commonly used in cardiopulmonary bypass surgeries, but as technology advanced and demand for electronic motors grew, mechanical motor pumps became obsolete. The main advantage of electronic pumps is process optimization and energy conservation, which allows centrifugal blood pump systems to reduce the expense of cardiopulmonary bypass surgeries. There are also rollers that are typically used in cardiopulmonary surgeries, but the preference for centrifugal blood pumps is rising due to a variety of advantages, including their small size, low capital expenditure, and low maintenance costs.

A number of cardiovascular drugs have been introduced for the treatment of cardiac disorders over the last decade and more are currently under progress. Leading manufacturers are expecting this demand to again increase in the midst of COVID-19. There has been a disturbance in the demand and supply of various medical devices as a result of the coronavirus outbreak, which has affected the revenue of centrifugal blood pumps. This, however, is only a temporary impact, and the market is expected to rebound quickly. Patients' traffic in hospitals, specialist clinics, and ambulatory surgical centres has declined as a result of the pandemic. This has resulted in a decrease in the number of cardiopulmonary surgeries conducted per year, which has impacted the demand for centrifugal blood pumps.

Global Centrifugal Blood Pump Market: Segmentation

The electronic centrifugal blood pumps held a significant market share in 2020. The growing demand for electronic centrifugal blood pumps from hospitals and ambulatory surgical centres is driving the centrifugal blood pump market's revenue development. The main advantage of electronic pumps is operation efficiency and energy conservation, which allows centrifugal blood pump systems to reduce the expense of cardiopulmonary bypass surgeries. This encourages companies to create innovative centrifugal blood pumps for the market in order to satisfy end-user demand.

On the basis of end-users, hospital segment had a substantial share in 2020 and is expected to grow at a notable rate over the forecast period. Hospitals will continue to have a strong demand for centrifugal blood pumps, due to increased number of patient visits and more matured infrastructure compared to other facilities.

Global Centrifugal Blood Pump Market: Regional Analysis

By Geography, the centrifugal blood pump market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa.

In North America, the United States continues to be one of the world's largest markets for medical equipment, making it a lucrative market for centrifugal blood pump manufacturers. The introduction of centrifugal blood pumps systems in the United States has been aided by favourable healthcare policies and strong per capita healthcare spending. In addition, the presence of global players encourages development in the United States. Brand releases and growth plans are among the strategies employed by these firms, which will continue to aid overall expansion in the United States.

Due to the increasing number of geriatric population, Asia Pacific is projected to rise at a fastest pace. China has the world's largest population and the world's fastest-aging population. This is primarily due to decades of declining birth rates on one side and rapidly increasing life expectancy on the other. China's ageing population will pose a significant challenge in the coming decades. Since the risk of Cardiovascular disease (CVD) increases with age, older people are more likely to develop cardiac disease, which has an effect on the demand for centrifugal blood pumps in the country.

The total number of CVD cases has risen in Europe over the last 25 years, and a similar pattern can be found in the United Kingdom. According to bfh.org.uk, about 7.4 million people in the United Kingdom suffer from cardiac and circulatory diseases. In addition, the most common form of heart and circulatory disease has been described as coronary heart disease. The demand for centrifugal blood pumps market is anticipated to increase in the country as the prevalence of heart ailments continues to grow.

Global Centrifugal Blood Pump Market: Competitive Players

The major players in the global centrifugal blood pump market include Thoratec Corporation (Abbott), Medtronic Plc, Terumo Corporation, Braile Biomedica Ltd., Qura Srl, XENIOS AG (Fresenius Medical Care Company), LivaNova, PLC, and Getinge AB among others.

The report segment of global centrifugal blood pump market are as follows:

Global Centrifugal Blood Pump Market: Type Segment Analysis

  • Electronic Centrifugal Blood Pump
  • Mechanical Centrifugal Blood Pump

Global Centrifugal Blood Pump Market: End-User Segment Analysis

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics
  • Others

Global Centrifugal Blood Pump 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

Table Of Content

Methodology

FrequentlyAsked Questions

Developments in cardiac assist systems have been linked to a lower occurrence of adverse effects such as hemolysis, post-procedure Liver Function Tests (LFT) abnormalities, and thromboembolic events. The use of such pumps for critically ill patients with myocardial infarction is increasing, which is driving demand for centrifugal blood pumps. Over time, both developed and developing countries have seen an increase in the number of advanced interventional cardiac procedures. With increasing demand for cardiac assist devices for cardiopulmonary bypass, the centrifugal blood pumps market is expected to grow.

According to Zion Market Research, the Centrifugal Blood Pump market is expected to generate revenue of around USD 1,170.17 Million by the end of 2026, growing at a CAGR of 4.52%.

In North America, the United States continues to be one of the world's largest markets for medical equipment, making it a lucrative market for centrifugal blood pump manufacturers. The introduction of centrifugal blood pumps systems in the United States has been aided by favourable healthcare policies and strong per capita healthcare spending. In addition, the presence of global players encourages development in the United States. Brand releases and growth plans are among the strategies employed by these firms, which will continue to aid overall expansion in the region.

The major players in the global centrifugal blood pump market include Thoratec Corporation (Abbott), Medtronic Plc, Terumo Corporation, Braile Biomedica Ltd., Qura Srl, XENIOS AG (Fresenius Medical Care Company), LivaNova, PLC, and Getinge AB among others.
 

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