Heart Pumps Market Outlook 2031: Global Industry to Expand from USD 2.7 Billion in 2022 to USD 12.3 Billion by 2031, Propelled by a Robust CAGR of 18.3%

The global heart pumps market was valued at US$ 2.7 Bn in 2022 and is estimated to advance at a CAGR of 18.3% from 2023 to 2031, reaching an anticipated US$ 12.3 Bn by the end of 2031. A surge in the prevalence of cardiovascular diseases, an increasing geriatric population, and rising heart care awareness are key factors propelling market growth.

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Analyst Viewpoint

The heart pumps market is primarily driven by the rising incidence of cardiovascular diseases, fueled by factors such as an aging population, unhealthy lifestyles, and escalating environmental pollution. Collaborative efforts among governments, healthcare institutions, and advocacy groups have significantly enhanced the understanding of heart pumps and their benefits, thereby boosting market demand. Prominent players are focusing on developing advanced, compact devices with extended battery life and remote monitoring capabilities to address the growing cases of end-stage heart failure.

Heart Pumps Market

Market Introduction

Heart pumps are mechanical medical devices designed to either replace or support the failing functions of a compromised heart. These devices play a vital role in improving circulation and alleviating symptoms associated with heart failure, thereby enhancing patients’ overall quality of life. They can be implanted internally or worn externally and are often utilized as either a bridge to recovery or as an alternative for patients ineligible for heart transplants. Recent market insights indicate a shift towards the development of smaller, more durable devices featuring extended battery life and real-time remote monitoring capabilities, along with innovations such as flow pumps to minimize complications.

Increase in the Incidence of Cardiovascular Diseases Bolstering Market Progress

The growing prevalence of cardiovascular diseases—exacerbated by an expanding geriatric population, environmental pollution, and modern sedentary lifestyles—is a key driver of market growth. Unhealthy habits, including smoking, excessive alcohol consumption, and poor dietary practices, contribute significantly to conditions like hypertension, diabetes, and high cholesterol, which in turn increase the risk of heart-related ailments. According to the CDC Foundation, about one in every six U.S. healthcare dollars is devoted to cardiovascular health, with annual heart-related costs in the U.S. projected to reach nearly US$ 818.0 Bn by 2030. Moreover, statistics from the British Heart Foundation and the World Health Organization underscore the severe global impact of cardiovascular diseases, with millions of deaths attributed to heart attacks and strokes annually.

Rise in Heart Care Awareness Creating Immense Market Opportunities

Enhanced heart care awareness, driven by proactive public information campaigns and significant research funding from governments and healthcare organizations, has further accelerated the adoption of heart pumps. These initiatives have not only increased awareness about the benefits of heart pumps in improving quality of life but have also promoted preventive health measures. The COVID-19 pandemic, which underscored the vulnerabilities of individuals with pre-existing heart conditions, has further intensified the focus on early diagnosis, prevention, and treatment of cardiovascular diseases.

Regional Outlook

North America dominated the heart pumps market in 2022, buoyed by a well-developed healthcare infrastructure, high R&D investments, and increased awareness of advanced cardiovascular care technologies. The region benefits from significant public and private expenditure on heart health, with the CDC Foundation highlighting the substantial portion of U.S. healthcare spending allocated to cardiovascular conditions. Meanwhile, the Asia Pacific region is projected to experience steady growth, driven by a rising incidence of heart attacks, strokes, and other cardiovascular diseases. For instance, the All India Institute of Medical Sciences (AIIMS) notes that strokes are the second most common cause of death in India, with a stroke-related death occurring every four minutes and over 185,000 cases reported annually.

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Analysis of Key Players

Leading manufacturers in the heart pumps market are making significant investments in the development of artificial and implantable heart pump devices to deliver optimal heart care and improve patient outcomes. These companies are increasingly engaging in research collaborations and strategic partnerships to expand their product portfolios. Key industry players include:

• SynCardia Systems, LLC
• Berlin Heart GmbH
• Jarvik Heart Inc.
• Calon Cardio-Technology Ltd.
• Teleflex Incorporated
• Abbott Laboratories
• Medtronic plc

Key Developments

• June 2023: Magenta Medical, an Israel-based medical device maker, announced its early-stage feasibility study for developing and implementing the world’s smallest heart pump.
• October 2022: BiVACOR received a grant of AUD$ 750,000 from the Government of Australia to improve patient outcomes by reducing the size and weight of the external controller for its Total Artificial Heart (TAH).

Market Segmentation

• Product
• Intra-aortic Balloon Pumps
• Ventricular Assist Devices
• Left Ventricle Assist Devices (LVAD)
• Right Ventricle Assist Devices (RVAD)
• Biventricular Assist Devices (BVAD)
• Others
• Total Artificial Heart
• Flow Regime
• Centrifugal Flow Pump (CFP)
• Axial Flow Pump (AFP)
• Mixed Flow Pump (MFP)
• Therapy
• Bridge-to-Candidacy (BTC)
• Bridge-to-Transplant (BTT)
• Location
• Implantable Heart Pump Devices
• Extracorporeal Heart Pump Devices
• End-user
• Hospitals
• Ambulatory Surgical Centers
• Specialty Clinics
• Others
• Regions Covered
• North America
• Latin America
• Asia Pacific
• Europe
• Middle East & Africa
• Countries Covered
• U.S., Canada, Germany, U.K., France, Spain, Italy, Japan, China, India, Brazil, Mexico, GCC Countries, South Africa

As the global focus on cardiovascular health intensifies, innovations in heart pump technologies and strategic collaborations among key industry players are set to drive transformative growth in the heart pumps market over the next decade.

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