Global Centrifugal Blood Pump Industry to Reach US$ 184.5 Million by 2033 amid Increasing Adoption in Cardiac Surgeries | FMI Report

The Global Centrifugal Blood Pump Industry is forecast to reach a valuation of US$ 184.5 million by 2033, expanding at a steady CAGR of 4.0% during the forecast period 2023 to 2033. This is according to a recent report published by Future Market Insights (FMI). The market was valued at US$ 124.6 million in 2023.

Centrifugal blood pumps are increasingly being adopted during cardiac surgeries and for extracorporeal membrane oxygenation (ECMO) procedures owing to their advantages like ease of use, low cost, and reduced blood trauma risk. With the rising burden of cardiovascular diseases globally, the demand for centrifugal blood pumps is steadily rising.

Additionally, key players are focused on developing innovative pumps equipped with smart sensors and Internet of Things (IoT) capabilities. For instance, [Company 1] launched its [Product 1] in 2022, featuring remote monitoring and integrated data analytics. The increasing integration of such smart technologies is expected to aid market growth through 2033.

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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. COVID-19 in the first few months of 2020 has had a negative impact on the Global Centrifugal Blood Pump Industry. The massive global lockdown and the shutting down of 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 of well-trained medical staff and advanced facilities.

“Companies operating in the market are focusing on research and development initiatives. Investment towards introducing advanced features will continue increasing through forecast period, enabling growth in the market” says the FMI Analyst

Key Takeaways from Global Centrifugal Blood Pump Industry 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

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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 compared 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.

• 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

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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