Overview and Scope
Cardiac assist devices and equipment are electromechanical devices that assist in pumping blood from the heart to the rest of the body. These devices are used either to partially or completely replace the function of a failing heart
Sizing and Forecast
The cardiac assist devices and equipment market size has grown rapidly in recent years. It will grow from <b>$2.47 billion in 2023 to $2.8 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. </b> The growth in the historic period can be attributed to cardiac arrhythmias prevalence, aging population, clinical guidelines and research, minimally invasive procedures.
The cardiac assist devices and equipment market size is expected to see rapid growth in the next few years. It will grow to <b>$4.18 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. </b> The growth in the forecast period can be attributed to personalized medicine, global access to healthcare, electrophysiology devices in heart failure management, hybrid procedures. Major trends in the forecast period include 4d mapping and visualization, artificial intelligence (ai) in electrophysiology, regenerative medicine approaches, leadless cardiac pacing.
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Segmentation & Regional Insights
The cardiac assist devices and equipment market covered in this report is segmented –
1) By Type: Ventricular Assist Devices (LVAD), Intra-Aotic Baloon Pumps, Total Artificial Heart
2) By Modality: Transcutaneous, Implantable
3) By Application: Hospital Pharmacies, Ambulatory Surgical Centres, Emergency Services
<b>North America</b> was the largest region in global cardiac assist devices and equipment market in 2023. <b>Western Europe</b> was the second-largest region in cardiac assist devices and equipment market. The regions covered in the cardiac assist devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
A rise in the prevalence of cardiovascular diseases (CVD) increases the demand for cardiac assist devices and equipment in developed and developing economies. The increasing need for diagnosis, monitoring, early-stage treatment, and prevention of these life-threatening diseases, increases the demand for cardiac assist devices. For instance, according to the American Heart Association, a US-based nonprofit organization, by 2035, 45.1% of the US population is s to have some form of CVD. Total costs of CVD are expected to reach $1.1 trillion in 2035, with direct medical costs projected to reach $748.7 billion and indirect costs estimated to reach $368 billion. Therefore, a rise in the prevalence of cardiovascular diseases is driving the growth of the cardiac assist devices and equipment market.
Key Industry Players
Major companies operating in the cardiac assist devices and equipment market include <b> Abbot Laboratories, Berlin Heart GmbH, Abiomed Inc., Bivacor Pvt Ltd., Calon Cardio-Technology Ltd., Cardiobridge GmbH, Balton Sp. Z O.O, Cardiac Assist Inc., Braile Biomedica Ltd., Circulite Inc., Cardiokinetix Inc., Evaheart Inc., Fineheart Sarl, Fresenius Medical Care Ag & Co. KGaA, Getinge Ab, GPB Life Science Holdings Llc, Jarvik Heart Inc., Medtronic plc, OregonHeart, Mitiheart Corporation, Procyrion Inc., Relianthreat Inc., Scandinavian Real Heart AB, Senko Medical Instrument Mfg. Co. Ltd., Syncardia Systems LLC, HeartWare International Inc., Cardiac Dimensions Inc., Cardiac Power Innovations, Cardiac Science Corporation, Cardionomic Inc., Carmat SA, CorWave SA, Edwards Lifesciences Corporation, Leviticus Cardio Ltd., LivaNova PLC, MicroMed Cardiovascular Inc., MyoCardioCare Inc., Novacor SA, Orqis Medical Corporation, Terumo Corporation, Thoratec Corporation, Ventracor Limited </b>
The cardiac assist devices and equipment market report table of contents includes:
1. Executive Summary
2. Cardiac Assist Devices And Equipment Market Characteristics
3. Cardiac Assist Devices And Equipment Market Trends And Strategies
4. Cardiac Assist Devices And Equipment Market – Macro Economic Scenari
5. Global Cardiac Assist Devices And Equipment Market Size and Growth
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26. South America Cardiac Assist Devices And Equipment Market
27. Brazil Cardiac Assist Devices And Equipment Market
28. Middle East Cardiac Assist Devices And Equipment Market
29. Africa Cardiac Assist Devices And Equipment Market
30. Cardiac Assist Devices And Equipment Market Competitive Landscape And Company Profiles
Top Major Players:
- Abbot Laboratories
- Berlin Heart GmbH
- Abiomed Inc
- Bivacor Pvt Ltd
- Calon Cardio-Technology Ltd
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