Global Artificial Heart and Assist Devices Market Size & Share Analysis - By Product Type, By Application, By Region - Forecasts (2024 - 2031)

The "Artificial Heart and Assist Devices Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Artificial Heart and Assist Devices market is expected to grow annually by 7.7% (CAGR 2024 - 2031).

This entire report is of 178 pages.

Artificial Heart and Assist Devices Introduction and its Market Analysis

The global Artificial Heart and Assist Devices market research report provides a comprehensive analysis of market conditions, with a focus on the growth drivers for this industry. Artificial Heart and Assist Devices are mechanical devices used to support or replace a failing heart. The target market for these devices includes patients with heart failure or undergoing heart transplant surgery. Major factors driving revenue growth in this market include increasing prevalence of cardiovascular diseases, technological advancements in device design, and rising adoption by healthcare facilities. Key companies operating in the market include BiVACOR, Medtronic, CARMAT, SynCardia, Getinge (Maquet), Jarvik Heart, Braile Biomedica, LivaNova (Sorin), AbioMed, Terumo CV Group, and Tianjin Medical. The report's main findings highlight the growing demand for Artificial Heart and Assist Devices and recommend strategic measures for market players to capitalize on this opportunity.

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The global Artificial Heart and Assist Devices market is experiencing significant growth with a focus on Artificial Heart Lung Machines and Artificial Hearts. These devices are widely used in Cardiac Surgery, Acute Respiratory Failure Treatment, and other medical applications. The market is segmented based on the type of devices and their applications, catering to the increasing demand for advanced cardiac care solutions.

Regulatory and legal factors play a crucial role in shaping market conditions for Artificial Heart and Assist Devices. Strict regulations ensure the safety and effectiveness of these devices, driving manufacturers to comply with quality standards. Additionally, market players must navigate complex legal frameworks to bring innovative products to market and meet the evolving needs of healthcare providers and patients. As the market continues to expand, regulatory and legal factors will remain essential considerations for both manufacturers and consumers in the Artificial Heart and Assist Devices industry.

Top Featured Companies Dominating the Global Artificial Heart and Assist Devices Market

The artificial heart and assist devices market is a competitive landscape with several key players operating in the industry. Some of the prominent companies in this market include BiVACOR, Medtronic, CARMAT, SynCardia, Getinge (Maquet), Jarvik Heart, Braile Biomedica, LivaNova (Sorin), AbioMed, Terumo CV Group, and Tianjin Medical.

These companies play a crucial role in the growth of the artificial heart and assist devices market by constantly innovating and developing new technologies to address the growing demand for these devices. They also invest heavily in research and development to improve the efficacy and safety of their products, thereby enhancing patient outcomes.

For example, BiVACOR is known for its cutting-edge total artificial heart technology that aims to provide long-term solutions for patients suffering from end-stage heart failure. Medtronic, a global leader in medical technology, offers a range of ventricular assist devices that help to support a failing heart and improve cardiac function.

CARMAT is another noteworthy player in the market, with its innovative biocompatible total artificial heart that mimics the natural heart's physiology. SynCardia is known for its Total Artificial Heart, which has been used in over 1,700 patients worldwide.

In terms of sales revenue, companies like Medtronic, LivaNova, and AbioMed are among the top performers in the artificial heart and assist devices market. Medtronic reported revenues of over $30 billion in 2020, while LivaNova reported revenues of over $ billion in the same year. AbioMed also reported strong sales revenue of over $800 million in 2020.

Overall, these companies are instrumental in driving the growth of the artificial heart and assist devices market by offering innovative solutions and advanced technologies that help to improve the quality of life for patients with heart failure. Their continued investment in research and development will further propel the market forward in the coming years.

• BiVACOR
• Medtronic
• CARMAT
• SynCardia
• Getinge (Maquet)
• Jarvik Heart
• Braile Biomedica
• LivaNova (Sorin)
• AbioMed
• Terumo CV Group
• Tianjin Medical

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Artificial Heart and Assist Devices Market Analysis, by Type:

• Artificial Heart Lung Machines
• Artificial Heart

Artificial heart lung machines and artificial hearts are two main types of artificial heart and assist devices used to support heart functions in patients with cardiovascular diseases. The artificial heart lung machines temporarily take over the functions of the heart and lungs during surgeries, while artificial hearts are implanted devices that permanently replace a failing heart. These devices have proven to be life-saving for patients with end-stage heart failure, leading to a growing demand for artificial heart and assist devices in the healthcare market. The increasing prevalence of heart diseases and advancements in technology are driving this demand further.

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Artificial Heart and Assist Devices Market Analysis, by Application:

• Cardiac Surgery
• Acute Respiratory Failure Treatment
• Others

The application of Artificial Heart and Assist Devices includes usage in cardiac surgery as a temporary measure during heart transplant surgeries, in the treatment of acute respiratory failure to provide circulatory support, and in other medical conditions where heart function is compromised. These devices help in maintaining blood circulation and oxygenation of tissues. The fastest growing application segment in terms of revenue is cardiac surgery, as the demand for heart transplants and circulatory support continues to rise due to the increasing prevalence of cardiovascular diseases. Artificial Heart and Assist Devices have revolutionized the treatment of heart-related conditions and are increasingly being used in various medical settings.

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Artificial Heart and Assist Devices Industry Growth Analysis, by Geography:

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

The market for Artificial Heart and Assist Devices is expected to show significant growth in all regions, with North America and Europe dominating the market due to technological advancements and high healthcare expenditure. North America, specifically the United States, is projected to hold the largest market share, followed by Europe, mainly Germany and France. In Asia-Pacific, China is anticipated to witness rapid growth in the market due to increasing healthcare infrastructure and rising prevalence of heart diseases. Latin America and Middle East & Africa are also expected to witness substantial growth in the coming years. The expected market share for North America is 35%, Europe 30%, Asia-Pacific 20%, Latin America 10%, and Middle East & Africa 5%.

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