ID: MRFR/HC/6513-HCR | February 2021 | Region: Global | 90 pages
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
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
Global Artificial Heart Market, by End User
Global Artificial Heart Market, by Region
Intended Audience
Frequently Asked Questions (FAQ) :
The valuation was USD 1.2 billion.
The predicted CAGR would be 15.1%.
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.