New York City, NY, 08 November, 2019/ 24 Market Reports: The global heart pump devices market is estimated to reach USD 4.04 Billion by 2022 from that of USD 1.69 Billion in 2017 at a CAGR of 20.1% during the forecast period of 2017 to 2022. The rising number of cardiovascular diseases, an increasing number of regulatory approvals and an acute shortage of donor's hearts are the factors resulting in the growth of this market.
Product, type, therapy and region is the segmentation for the heart pump device market. Total artificial heart, ventricle assist devices and intra-aortic balloon pumps are the categories of the market based on product. It is expected for the ventricular assist devices market to witness growth at the highest CAGR during the forecast period.
Increased dependency on ventricular assist devices for the treatment of heart failure and technological advancements to improve the safety of these devices are the factors responsible for the rise in growth of the ventricular assist devices.
Implantable and extracorporeal heart pump devices are the categories for the market based on type. During the forecast period, the implantable heart pumps segment is expected to register the growth at the highest CAGR. The implantable heart pump devices have become more reliable due to technological advancements and have also improved their efficiency. This allows the patients to utilize this option for the long term use to the ones who cannot undergo a heart transplant procedure.
The global heart pump device market based on therapy is categorized into bridge-to-transplant, bridge-to-candidacy, destination therapy and other therapies such as ass rescue therapy and bridge-to-recovery. Among these, it is estimated for the destination therapy segment to grow with the highest CAGR during the forecast period. Owing to the technological advancements in the heart pump technology it is estimated for the rise in the adoption of DT in the upcoming years to improve safety, efficiency and quality of life for the patient.
Asia Pacific, Europe, North America and ROW are the geographical segmentation for the heart pump device market. Owing to the changing lifestyles, rising disposable income, increasing heart surgeries and increasing awareness about CVD among the population of the region the Asia Pacific region is expected to record at the highest CAGR during the forecast period. The rising number of obesity and high blood pressure among the people of the region is the factor for the growth of the market in the region.
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