Artificial Heart Market Research Report - Global Forecast till 2027

Global Artificial Heart Market Research Report: Information by Type (Heart-Lung Machine, Mechanical Heart, Total Artificial Hearts, Ventricular Assist Devices (VADs)), End User (Hospitals & Clinics, Specialty Centers) and Region (Americas, Europe, Asia-Pacific, Middle East & Africa) - Forecast till 2027

ID: MRFR/HC/6513-HCR | February 2021 | Region: Global | 90 pages

Please note that the assessment period of the report has been updated from 2019-2024 to 2020-2027.Cordially fill Sample form for the updated data

Market Scenario


Global artificial heart market size is expected to grow significantly over the forecast period. The market held a market value of USD 1.2 billion in 2017 and is projected to grow at a CAGR of 15.1% over the forecast period. An artificial heart is a pump that is surgically installed to provide circulation and replace heart ventricles that are diseased or damaged. The growing demand for the artificial heart is due to factors such as the rising burden of cardiovascular disorders, and the rising volume of the older patient population with end-stage heart failure.


Additionally, rising population indulged in smoking, along with favorable reimbursement scenarios, is driving the growth of the market. For instance, according to the United Nations, the older population is likely to reach 425 million by 2050. Additionally, according to the World Health Organization (WHO), in 201, more than 17.7 million people died from cardiovascular diseases contributing to 31% of all the global deaths. This rise in the aging population will lead to a rise in cardiovascular disorders as this population is highly prone to various heart disorders and is at a higher risk of developing complications which are also likely to drive the market.


However, stringent regulatory scenario, along with the high cost of procedures, are the key factors limiting the growth of the market.  


Segmentation


The global artificial heart market has been segmented into type, and end user.


By type, the market has been segmented into the heart-lung machine and mechanical heart. The mechanical heart is further segmented into total artificial hearts and ventricular assist devices (VADs). The mechanical heart segment is expected to register the highest CAGR during the forecast period due to growing demand.


On the basis of end user, the market has been segmented into hospitals & clinics, specialty centers, and others.


The global artificial heart market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The artificial heart market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada.


The European artificial heart market has been segmented into Western Europe and Eastern Europe. The Western Europe artificial heart market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. 


The Artificial Heart market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The Artificial Heart market in the Middle East & Africa has been segmented into the Middle East and Africa.


Key Players


SynCardia Systems, LLC, BiVACOR Inc., CARMAT, Cleveland Heart, Inc., ABIOMED, CryoLife, Inc., Abbott, and Thoratec Corporation are some of the prominent players in the global artificial heart market.


Regional Market Summary


Global Artificial Heart Market Share (%), by Region, 2018  Artificial Heart Market


Source: White Papers, Company Presentations, Annual Reports


The Americas is the market leader and has an attractive market for artificial heart owing to the increasing prevalence of cardiovascular, neurological, and other infections pertaining to the rising geriatric population, which is a major trigger factor. According to the Center for Disease Control and Prevention (2015), over 630,000 Americans die from heart diseases each year, which accounts for one in every four deaths. Thus, several major companies are in a race for the introduction of high-quality devices and accessories for better management of data for patients with CVD.


Additionally, according to the US Census Bureau, in 2016, around 49.2 million residents were aged 65 and above. This huge older population led to over 15.2% of the total population, which is likely to drive the market. Furthermore, the Americas is witnessing rampant advancements in technology, and increasing government initiatives, and funding for research in the medical devices sector is driving the market growth.


Europe accounts for the second largest market and holds a healthy share in the global artificial heart market due to major driving factors like availability of advanced treatment facilities, increasing healthcare expenditure, and flourishing medical device industry due to the presence of major market players. For instance, according to the European Society of Cardiology,  cardiovascular diseases (CVD) remain the leading cause of mortality and a major cause of morbidity in Europe. Moreover, the European Union spend over 210 Euro billion a year for CVD. This heavy expenditure is driving the growth of the market.


Asia-Pacific is expected to be the fastest growing market, owing to the huge patient pool, a faster adaptation of healthcare technology, government initiatives to increase the healthcare quality, and availability of favorable insurance policies. Moreover, due to lower cost of clinical trials, research key players have been setting up their regional headquarters and manufacturing plants in Singapore, China, Japan, Korea, and Australia which make a positive growth curve in  Artificial Heart market in future.


The Middle East & Africa is expected to show the least growth in the market due to some major factors such as lack of awareness, limited access and availability of treatment facilities. In the Middle East, the United Arab Emirates and Saudi Arabia is the largest market share owing to the development of the healthcare industry and the rising availability of specialty care centers.


Global Artificial Heart Market, by Type



  • Heart-Lung Machine

  • Mechanical Heart

    • Total Artificial Hearts

    • Ventricular Assist Devices (VADs)




Global Artificial Heart Market, by End User



  • Hospitals & Clinics

  • Specialty Centers

  • Others


Global Artificial Heart Market, by Region



  • Americas

    • North America

      • US

      • Canada



    • Latin America





  • Europe

    • Western Europe

      • Germany

      • France

      • Italy

      • Spain

      • UK

      • Rest of Western Europe



    • Eastern Europe





  • Asia-Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific





  • The Middle East & Africa

    • Middle East

    • Africa




Intended Audience



  • Medical device manufacturer

  • Channel partners

  • Industry association

  • Governments and investment communities

  • Research organizations and associations

  • Healthcare industry



Frequently Asked Questions (FAQ) :


The valuation was USD 1.2 billion.

The high cost of the procedure and regulations regarding the process can slow down the growth.

The mechanical heart segment has the chance to record a higher CAGR.

The Americas market would dominate the global field.

Table of Contents:

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

4.5 Macroeconomic Indicators

4.6 Detection Technique Trends & Assessment

Chapter 5. Market Factor Analysis

5.1 Porter’s Five Forces Analysis

5.1.1 Bargaining Power of Suppliers

5.1.2 Bargaining Power of Buyers

5.1.3 Threat of New Entrants

5.1.4 Threat of Substitutes

5.1.5 Intensity of Rivalry

5.2 Value Chain Analysis

5.3 Investment Feasibility Analysis

5.4 Pricing Analysis

Chapter 6. Global Artificial Heart Market, by Type

6.1 Introduction

6.2 Heart-Lung Machine

Market Estimates & Forecast, by Region, 2020-2027

Market Estimates & Forecast, by Country, 2020-2027

6.3 Mechanical Heart

Market Estimates & Forecast, by Region, 2020-2027

Market Estimates & Forecast, by Country, 2020-2027

6.3.1 Total Artificial Hearts

Market Estimates & Forecast, by Region, 2020-2027

Market Estimates & Forecast, by Country, 2020-2027

6.3.2 Ventricular Assist Devices (VADs)

Market Estimates & Forecast, by Region, 2020-2027

Market Estimates & Forecast, by Country, 2020-2027

Chapter 7. Global Artificial Heart Market, by End User

7.1 Introduction

7.2 Hospitals & Clinics

Market Estimates & Forecast, by Region, 2020-2027

Market Estimates & Forecast, by Country, 2020-2027

7.3 Specialty Centers

Market Estimates & Forecast, by Region, 2020-2027

Market Estimates & Forecast, by Country, 2020-2027

7.4 Others

Market Estimates & Forecast, by Region, 2020-2027

Market Estimates & Forecast, by Country, 2020-2027

Chapter 8. Global Artificial Heart Market, by Region

8.1 Introduction

8.2 Americas

8.2.1 North America

8.2.1.1 US

8.2.1.2 Canada

8.2.2 Latin America

8.3 Europe

8.3.1 Western Europe

8.3.1.1 Germany

8.3.1.2 France

8.3.1.3 Italy

8.3.1.4 Spain

8.3.1.5 UK

8.3.1.6 Rest of Western Europe

8.3.2 Eastern Europe

8.4 Asia-Pacific

8.4.1 Japan

8.4.2 China

8.4.3 India

8.4.4 Australia

8.4.5 South Korea

8.4.6 Rest of Asia-Pacific

8.5 Middle East & Africa

8.5.1 Middle East

8.5.2 Africa

Chapter 9 Company Landscape

9.1 Introduction

9.2 Market Share Analysis

9.3 Key Development & Strategies

Chapter 10. Company Profiles

10.1 SynCardia Systems, LLC

10.1.1 Company Overview

10.1.2 Treatment Overview

10.1.3 Financials Overview

10.1.4 Key Developments

10.1.5 SWOT Analysis

10.2 BiVACOR Inc.

10.2.1 Company Overview

10.2.2 Treatment Overview

10.2.3 Financial Overview

10.2.4 Key Developments

10.2.5 SWOT Analysis

10.3 CARMAT

10.3.1 Company Overview

10.3.2 Treatment Overview

10.3.3 Financial Overview

10.3.4 Key Development

10.3.5 SWOT Analysis

10.4 Cleveland Heart, Inc.

10.4.1 Company Overview

10.4.2 Treatment Overview

10.4.3 Financial Overview

10.4.4 Key Development

10.4.5 SWOT Analysis

10.5 ABIOMED

10.5.1 Company Overview

10.5.2 Treatment Overview

10.5.3 Financial overview

10.5.4 Key Developments

10.5.5 SWOT Analysis

10.6 CryoLife, Inc.

10.6.1 Company Overview

10.6.2 Treatment Overview

10.6.3 Financial Overview

10.6.4 Key Developments

10.6.5 SWOT Analysis

10.7 Abbott

10.7.1 Company Overview

10.7.2 Treatment Overview

10.7.3 Financial Overview

10.7.4 Key Developments

10.7.5 SWOT Analysis

10.8 Thoratec Corporation

10.8.1 Company Overview

10.8.2 Treatment Overview

10.8.3 Financials

10.8.4 Key Developments

10.8.5 SWOT Analysis

Chapter 11 MRFR Conclusion

11.1 Key Findings

11.1.1 From CEO’s Viewpoint

11.1.2 Unmet Needs of the Market

11.2 Key Companies to Watch

11.3 Predictions for the Artificial Heart Industry

Chapter 12. Appendix

LIST OF TABLES

Table 1 Global Artificial Heart Market Synopsis, 2020-2027

Table 2 Global Artificial Heart Market Estimates and Forecast, 2020-2027

(USD Million)

Table 3 Global Artificial Heart Market, by Region, 2020-2027 (USD Million)

Table 4 Global Artificial Heart Market, by Type, 2020-2027 (USD Million)

Table 5 Global Artificial Heart Market, by End-User, 2020-2027 (USD

Million)

Table 8 North America: Artificial Heart Market, by Type, 2020-2027 (USD

Million)

Table 9 North America: Artificial Heart Market, by End User, 2020-2027

(USD Million)

Table 12 US: Artificial Heart Market, by Type, 2020-2027 (USD Million)

Table 13 US: Artificial Heart Market, by End User, 2020-2027 (USD

Million)

Table 16 Canada: Artificial Heart Market, by Type, 2020-2027 (USD Million)

Table 17 Canada: Artificial Heart Market, by End User, 2020-2027 (USD

Million)

Table 20 Latin America: Artificial Heart Market, by Type, 2020-2027 (USD

Million)

Table 21 Latin America: Artificial Heart Market, by End User, 2020–

2023 (USD Million)

Table 24 Europe: Artificial Heart Market, by Type, 2020-2027 (USD Million)

Table 25 Europe: Artificial Heart Market, by End User, 2020-2027 (USD

Million)

Table 28 Western Europe: Artificial Heart Market, by Type, 2020-2027 (USD

Million)

Table 29 Western Europe: Artificial Heart Market, by End User, 2020–

2023 (USD Million)

Table 32 Eastern Europe: Artificial Heart Market, by Type, 2020-2027 (USD

Million)

Table 33 Eastern Europe: Artificial Heart Market, by End User, 2020–

2023 (USD Million)

Table 36 Asia-Pacific: Artificial Heart Market, by Type, 2020-2027 (USD

Million)

Table 37 Asia-Pacific: Artificial Heart Market, by End User, 2020-2027

(USD Million)

Table 40 Middle East & Africa: Artificial Heart Market, by Type, 2020-2027

(USD Million)

Table 41 Middle East & Africa: Artificial Heart Market, by End User,

2020-2027 (USD Million)

LIST OF FIGURES

Figure 1 Research Process

Figure 2 Segmentation for Global Artificial Heart Market

Figure 3 Segmentation Market Dynamics for Global Artificial Heart Market

Figure 4 Global Artificial Heart Market Share, by Type, 2020

Figure 5 Global Artificial Heart Market Share, by End User, 2020

Figure 7 Global Artificial Heart Market Share, by End User, 2020

Figure 8 Global Artificial Heart Market Share, by Region, 2020

Figure 9 North America: Artificial Heart Market Share, by Country, 2020

Figure 10 Europe: Artificial Heart Market Share, by Country, 2020

Figure 11 Asia-Pacific: Artificial Heart Market Share, by Country, 2020

Figure 12 Middle East & Africa: Artificial Heart Market Share, by Country, 201

Figure 13 Global Artificial Heart Market: Company Share Analysis, 2020 (%)

Figure 14 SynCardia Systems, LLC: Key Financials

Figure 15 SynCardia Systems, LLC.: Segmental Revenue

Figure 16 SynCardia Systems, LLC: Geographical Revenue

Figure 17 BiVACOR Inc.: Key Financials

Figure 18 BiVACOR Inc.: Segmental Revenue

Figure 19 BiVACOR Inc.: Geographical Revenue

Figure 20 CARMAT: Key Financials

Figure 21 CARMAT: Segmental Revenue

Figure 22 CARMAT: Geographical Revenue

Figure 23 ABIOMED: Key Financials

Figure 24 ABIOMED: Segmental Revenue

Figure 25 ABIOMED.: Geographical Revenue



This table of content is tentative and subject to change as the research progresses.

Please Note:  Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.