North America Heart Pump Devices Market, By Product (Ventricular Assist Devices (VADs), Intra-aortic Balloon Pumps (IABPs), Total Artificial Heart (TAH)), Type (Implantable Heart Pump Devices, Extracorporeal Heart Pump Devices), Therapy (Bridge-to-transplant (BTT), Bridge-to-candidacy (BTC), Destination Therapy (DT), Other Therapies), End User (Hospitals, Ambulatory Surgical Centers, Diagnostic Laboratories, Research Institutes, Others), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2028
Market Analysis and Insights of North America Heart Pump Devices Market
The North America heart pump devices market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 4,792.59 million by 2028 and will grow at a CAGR of 17.87% in the above mentioned forecast period.
Heart pump devices are basically mechanical pumps which play a role of ventricular assist devices. These devices are surgically implanted and are used for momentarily supporting the functions of heart in people with weak heart or uneven blood flow. These devices are particularly used as a bridge to cardiac transplantation for patients having end stage heart failure.
The rise in prevalence of cardiovascular diseases is amongst the important factor expected to intensify the growth and demand of North America heart pump devices market. In addition, the regulatory approval of several new and advanced heart pump devices, increase in healthcare expenditure and rise in the standard of living are also expected contribute to the growth in the regional market over the forecast period of 2021 to 2028. Also the rise in elder population ultimately increasing the patient population and high demand for technologically advanced treatments are also likely to enhance the growth of the market. Furthermore, the rise in government initiatives and increase in funding for research and development in advanced medical treatment options are also one of the significant factors expected to fuel the growth of theNorth America heart pump devices market.
The rapid technological advancements in developed economies, rise in prevalence of heart diseases and untapped market are anticipated to offer significant growth opportunities for the market in the forecast period of 2021 to 2028.
However, the high cost of heart pump devices as well as implantation procedures and lack of awarenessare expected to curb the growth of the North America heart pump devices market, whereas the inadequate reimbursement for heart pump devices for destination therapy can challenge the growth of the North America heart pump devices market.
This North America heart pump devices market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info onthe North America heart pump devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
North America Heart Pump Devices Market Scope and Market Size
The North America heart pump devices market is segmented on the basis of product, type, therapy and end user. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product, the North America heart pump devices market is segmented intoventricular assist devices (VADs), intra-aortic balloon pumps (IABPs) and total artificial heart (TAH). Ventricular assist devices (VADs) has further been segmented into left ventricular assist devices (LVADs), right ventricular assist devices (RVADs), bi-ventricular assist devices (BiVADs), transcutaneous ventricular assist devices and percutaneous ventricular assist devices (PVADs).
- On the basis of type, the North America heart pump devices market is segmented intoimplantable heart pump devices and extracorporeal heart pump devices.
- Based on therapy, the North America heart pump devices market is segmented into bridge-to-transplant (BTT), bridge-to-candidacy (BTC), destination therapy (DT) and other therapies.
- The end user segment of North America heart pump devices market is segmented into hospitals, ambulatory surgical centers,diagnostic laboratories, research institutes and others.
North America Heart Pump Devices Market Country Level Analysis
The North America heart pump devices market is analyzed and market size insights and trends are provided by country, product, type, therapy and end user as referenced above.
The countries covered in the North America heart pump devices market report are U.S., Canada and Mexico in North America.
U.S. is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the rise in healthcare expenditure for cardiovascular disorders.
The country section of the North America heart pump devices market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The North America heart pump devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for North America heart pump devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the North America heart pump devices market. The data is available for historic period 2010 to 2019.
Competitive Landscape and North America Heart Pump Devices Market Share Analysis
The North America heart pump devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to North America heart pump devices market.
The major players covered in the North America heart pump devices market report are W. L. Gore & Associates, Inc., Medtronic, Abbott, Boston Scientific Corporation, Edwards Lifesciences Corporation, Johnson & Johnson Services, Inc., CardiacAssist, Inc, SynCardia Systems, LLC, ABIOMED and Teleflex Incorporated among other. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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