Understand the Influence of COVID-19 on the Centrifugal Blood Pumps Market

Key market players are aiming at strategic alliances with service providers to address the requirements of an expanding patient base. 

FMI states in its recent study that the centrifugal blood pump market will record a CAGR of 4% through 2030. Demand for centrifugal blood pumps is anticipated to continue surging particularly due to the increase in heart diseases of people all across the world.

“A slew of cardiovascular products was launched for the management of cardiac disorders over the last decade and development of more are currently underway. With leading manufacturers expecting the demand to surge amid COVID-19, centrifugal blood pump sales are set to grow steadily through 2030.” says the FMI analyst.

Centrifugal blood pumps have been mainstreamed in routine cardiac surgeries for more than one decade now. Ventricular assist devices have been popularized in providing short-term support in biventricular assistance. The centrifugal blood pump market earned good revenues from their use as mechanical assist devices for heart failure

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Centrifugal blood pump Market – Important Highlights

• The demand for electronic centrifugal blood pumps is estimated to rise in the forecasted period, owing to its increased energy efficiency
• Hospital sectors are anticipated to be the leading end-users
• North America led by the US is estimated to be the major shareholder in the market owing to its expansion in healthcare spending.
• China is estimated to be the lead market for centrifugal blood pumps in the forecasted period, due to its rapid increase in the geriatric population

Centrifugal blood pump Market – Drivers

• The rapid increase in health problems like heart diseases around the world
• Increasing in geriatric population
• Favorable government policies like an increase in healthcare spending are further driving the market.

Centrifugal blood pump Market – Restraints

• Low-cost alternatives by China-based pump manufacturers is expected to be a hurdle in the  growth of the global centrifugal pump market during the forecast period
• A low rate of energy-efficiency is expected to restrain the growth of global centrifugal pump market growth over the period.

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COVID-19 Impact on Centrifugal blood pump Market

During this time there has been a disruption in the supply and demand chain which has caused an impact on the revenue of the centrifugal blood pumps in a negative way. However, this is estimated to be a temporary effect and the market is expected to have a turnaround. The pandemic has led to a decrease in the patient’s flow in the hospitals, and doctor chambers. This has caused a reduction in the number of cardio surgeries and that in turn has affected the centrifugal blood pumps market.

Competitive Landscape

Key market players are aiming at strategic alliances with service providers to address the requirements of an expanding patient base. 

For example, In Feb 2018, LivaNova PLC agreed to acquire TandemLife, a privately held company that was focused on advanced cardiopulmonary temporary support solutions. Some of the leading companies operating in the centrifugal blood pump market are Medtronic Plc, Thoratec Corporation (Abbott), Terumo Corporation, and so on.

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About the Study

The study offers readers a comprehensive assessment of the centrifugal blood pump market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on product type (electronic & mechanical motor), end-users(hospitals, clinics, ambulances), and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).

Table Of Content

1. Executive Summary
2. Market Overview
3. Key Market Trends
4. Market Background
5. COVID19 Crisis Impact Analysis
6. Market Context
7. Global Centrifugal Blood Pumps Market Demand (in Volume ‘000 Units) Analysis 2015-2019 and Forecast, 2020–2030
8. Global Centrifugal Blood Pumps Devices Market – Pricing Analysis
9. Global Centrifugal Blood Pumps Market Value (US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030
10. Global Centrifugal Blood Pumps Market and Volume Analysis 2015-2019 and Forecast 2020-2030, by Motor Type
11. Global Centrifugal Blood Pumps Market Analysis 2015-2019 and Forecast 2020-2030, by End User 
12. Global Centrifugal Blood Pumps Market Analysis 2015-2019 and Forecast 2020-2030, by Region
13. North America Centrifugal Blood Pumps Market Analysis 2015-2019 and Forecast 2020-2030
14. Latin America Centrifugal Blood Pumps Market Analysis 2015-2019 and Forecast 2020-2030
15. Europe Centrifugal Blood Pumps Market Analysis 2015-2019 and Forecast 2020-2030
16. South Asia Centrifugal Blood Pumps Market Analysis 2015-2019 and Forecast 2020-2030
17. East Asia Centrifugal Blood Pumps Market Analysis 2015-2019 and Forecast 2020-2030
18. Oceania Centrifugal Blood Pumps Market Analysis 2015-2019 and Forecast 2020-2030
19. Middle East and Africa Centrifugal Blood Pumps Market Analysis 2015-2019 and Forecast 2020-2030
20. Key and Emerging Countries Centrifugal Blood Pumps Market Analysis 2015-2019 and Forecast 2020-2030
21. Market Structure Analysis
22. Competition Analysis
23. Assumptions and Acronyms Used
24. Research Methodology

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About Future Market Insights

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.