Centrifugal Blood Pump Market Surges to a Remarkable US$184.5 Million by 2033, Fueled by a Consistent 4.0% CAGR | FMI

In 2023, the global Centrifugal Blood Pump Market achieved a market valuation of US$ 124.6 million. Projections indicate that the market will witness continuous expansion, reaching a noteworthy US$ 184.5 million by the end of 2033, driven by a steady Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period from 2023 to 2033.

Centrifugal pumps show improved blood handling capacity and are energy-efficient. In addition to this, centrifugal pumps are small in size and represent less capital investment and have low maintenance costs. The growing preference for centrifugal blood pumps over roller pumps from hospitals and ambulatory surgical centers due to their various advantages will enable growth in the market in the coming years.

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Due to the COVID-19 outbreak health care systems are negatively impacted and delivery of medical facilities effectively to all patients has become a huge challenge worldwide. Medical device manufacturers have not escaped the pandemic’s impact. Similar to pharmaceutical companies, medical device manufacturers rely heavily on healthcare facilities for their clinical trial data collection. The COVID-19 in the first few months of 2020 has imparted a negative impact on the centrifugal blood pumps market. The massive global lockdown, along with the shutting down of the economies such as China has halted the demand and supply activities. Despite this, hospitals are likely to remain leading end users owing to the advanced infrastructure and expenditure and the presence well trained medical staff and advanced facilities.

Key Takeaways from Centrifugal Blood Pumps Market Study

• Growth forecast for centrifugal blood pumps market remains strong as it is projected to exhibit 4% CAGR between 2020 and 2030
• U.S. to spearhead growth in North America, accounting over 90% of centrifugal blood pumps sold
• U.K. will showcase marginal yet steady growth 2.4% CAGR
• Germany and France will continue exhibiting steady rise in demand
• JAPAN and Korea to remain strong markets for centrifugal pumps in East Asia

Innovations to Remain Key to Growth

The rising demand for improved cardiac surgery will fuel the demand for centrifugal blood pumps. These pumps have low priming volume and limited contract surfaces, which make their applications ideal for certain conditions. Besides this, companies are increasingly focusing on technological innovations, which has led to the advent of lightweight centrifugal seamless blood pump with unique spherical thrust bearing.

These pumps also show the least blood trauma during cardiac surgery in comparison to other pumps available in the market, including roller pump. Advances in various cardiac assist devices aimed at curbing the incidence of adverse healthcare occurrences will continue creating growth prospects for the market.

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Key Companies Profiled

• Medtronic Plc
• Thoratec Corporation (Abbott)
• Terumo Corporation
• Qura Srl
• Braile Biomedica Ltd.
• LivaNova, PLC
• XENIOS AG (Fresenius Medical Care Company)
• Getinge AB

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Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario

Key Segments:

Motor

• Electronic
• Mechanical

End User

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Middle East and Africa (MEA)
• Oceania

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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