Global Heart Pump Device Market – Analysis and Forecast (2018-2024)

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Global Heart Pump Device Market

The global heart pump market is predicted to grow at a CAGR of 20.6% CAGR during the forecast period, attaining a market size of USD 6.1 billion by 2024. The heart pump device, a battery operated mechanical heart pump device, is implanted surgically to support the function of heart ventricles. It aids to preserve the pumping capability of a heart which cannot work effectively on its own. The global heart pump device market is growing at a significant rate, due to the mounting occurrence of cardiovascular diseases.

Global Heart Pump Device Market The mounting occurrence of cardiovascular diseases, regulatory consent of numerous novel and innovative devices and vast disparity between the requirement and delivery of donor's hearts are the primary growth drivers for heart pump device market. For instance, according to the Centers for Disease Control and Prevention (CDC), approximately 370,000 people die annually due to coronary heart disease in the U.S. It is the most common type of heart disease in the U.S. In addition, according to the World Health Organization (WHO) globally approximately 17.7 million people died from cardiovascular diseases in 2015. Mounting healthcare expenditure, refining healthcare infrastructure in developing countries and expanding geriatric population are also facilitating the growth for the heart pump device market. For instance, according to the WHO, globally in 2010 approximately 524 million people were aged 65 years and older and is expected to reach 1.5 billion in 2050. ÂŠ 2018 VynZ Research All rights reserved

Global Heart Pump Device Market Asia-Pacific is observed to witness the fastest growth in the market, as in the region mounting occurrence of cardiovascular diseases is mounting. In addition, boosting healthcare expenditure, mounting medical tourism, expanding the geriatric population, and refining healthcare infrastructure is also creating a positive impact on the heart pump device industry growth in the region. Key players in the heart pump device market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In July 2018, Medtronic Plc received FDA approval for less invasive heart pump implant procedure. It is an HVAD System, for a left ventricular assist device (LVAD) which helps patients with advanced heart failure. ÂŠ 2018 VynZ Research All rights reserved

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Global Heart Pump Device Market – Analysis and Forecast (2018-2024)

Published on May 16, 2020

kumarharindra784

The global heart pump market is predicted to grow at a CAGR of 20.6% CAGR during the forecast period, attaining a market size of USD 6.1 billion by 2024. The heart pump device, a battery operated mechanical heart pump device, is implanted surgically to support the function of heart ventricles. It aids to preserve the pumping capability of a heart which cannot work effectively on its own. The global heart pump device market is growing at a significant rate, due to the mounting occurrence of cardiovascular diseases. Different types of heart pumps contributed to the heart pump device market size. The market has witnessed high demand for implantable heart pump over the last few years due to the technological advancement of devices and mounting occurrence of heart failure.