Artificial Heart Market growing at a significant CAGR of 15.3% by 2026
Posted by Shristi on March 16th, 2020
“The Global Artificial Heart Market was valued around US$ 2.12 billion by 2019 and growing at a significant CAGR of 15.3% over next seven years 2020-2026 due to growing demand for eco-friendly products”.
The global artificial heart market accounted for US$ 2.12 billion in 2019 and burgeoning over the forthcoming years. Some of the key factors fueling the market growth are limited due to availability of donors. High chances of non-suitability of available organs due to blood groups, age and high risk of transplantation due to high pulmonary vascular resistance of patients leads in increasing number of patients for organs than with donors which leads to high increase in demand for artificial heart devices. Although high cost procedures, stringent regulatory scenarios are restraining the market in some cases.
Global artificial heart market segmented on the basis of type, purpose, energy, and region.
Request for sample report @ https://www.precisionbusinessinsights.com/request-sample?product_id=40281
Based on type, global artificial heart market segmented into Mechanical heart, heart-lung machines and Ventricular assisted devices (VAD’s). VAD’s held considerable market share during forecast period. These devices are used in cases of advanced cardiovascular disease patients in whom their biological heart is damaged either partially or completely and is in non-favorable condition for orthotropic heart transplantation. These are most prominently using in acute biventricular dysfunction where one ventricle of heart is replaced by prosthetic heart. Also widely spreading in allograft coronary diseases.
North America Leads the Global Artificial Heart market
PBI’s global artificial heart market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. North America accounted for larger revenue share in global artificial heart market with considerable CAGR. The growth in this region can be attributed to the presence of large cardiac disease patients and more advanced treatment facilities. According to center for disease control & prevention 2015 over 630,000 Americans died of heart diseases which is one fourth of country’s population and in 2016 1.42 billion market occurred in North American region alone. “American Heart Association’’ alone spending around US$ 800 Mn cardiac treatments and researches. Countries like USA and Canada with advanced technologies, great funding for research places this region on top of the list.
Strategic collaboration are the key strategies adopted by market players
Global artificial heart market further reveals that the product launch, acquisition, expansion, and agreement are the prominent strategies adopted by the key market players in order to secure market in the region. For instance, In August 2019 researchers at the University of Birmingham have developed a device that could improve care for patients with artificial heart pumps. Also non-blood contacting VAD devices are developing by the market players which will enhance the market.
Key player’s profiles in the report are Abbott Laboratories, ABIOMED, Berlin heart, BIVACOR Inc., CARMAT, Cleveland Heart Inc., CRYO life Inc., JARVIK Heart Inc., LIVA-NOVA PLC, MYLVAD, ON-X LIFE TECHNOLOGIES, RELAINT Heart Inc. SYNCARDIA systems, and Thoratec corporation.
For More Info, Click here @https://www.precisionbusinessinsights.com/market-reports/artificial-heart-market/
Precision Business Insights (PBI) in its report titled “Global Artificial heart Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015-2019 and Forecast 2020-2026” assesses the market performance over seven years forecast period over 2020-2026. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
o Mechanical heart (complete transplantation devices)
o Heart-lung machine
o Ventricular assisted devices (VAD’s)
o Permanently replacing artificial hearts
o Temporary replacement artificial hearts
o Pneumatically powered devices (compressed air)
o Electrically powered devices (batteries)
o North America
o Latin America
o Middle East and Africa (MEA)
Like it? Share it!
About the AuthorShristi
Joined: September 17th, 2019
Articles Posted: 60
More by this author