Global Heart Pump Device Market

The global heart pump device market accounted for USD 3.41 billion in 2023 and is expected to reach at USD 24.61 billion by 2034 with a CAGR of 19.68% during the forecast period 2024-2034. The market will grow due to an increase in the incidence of cardiovascular diseases, technological advancements, acceptance of minimally invasive procedures, a preference for nonpharmacological therapies, awareness campaigns, education initiatives, and an increased focus on heart failure management programs.

Cardiovascular diseases (CVDs) are still one of the top causes of death worldwide. Given the increasing prevalence of illnesses such as congestive heart failure (CHF) and ischemic heart disease, there is a greater need for heart pump devices as a therapy option. For instance, Abbott's next-generation HeartMate 4TM Left Ventricular Assist Device (LVAD), which offers improved durability and patient outcomes, was approved by the FDA in January 2024.

By type, the implanted heart pump devices segment accounted for the highest revenue-grossing segment in the global heart pump device market in 2023 owing to the increasing adoption of advanced implantable technologies, growing prevalence of heart failure, and rising demand for long-term therapeutic solutions. For instance, in December 2023, ABIOMED announced that its Impella ECP® heart pump would be available in Europe, offering patients with heart failure less invasive support. Additionally, the extracorporeal heart pump devices segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing preference for temporary mechanical circulatory support in acute heart failure cases, technological advancements enhancing device efficiency, and expanding applications in cardiac surgeries and transplantation procedures.

By Product, the ventricular assist devices (VADs) segment accounted for the highest revenue-grossing segment in the global heart pump device market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the growing prevalence of end-stage heart failure, advancements in device technology improving reliability and efficacy, and increasing adoption of VADs as a bridge to transplantation or as destination therapy for non-transplant candidates. For instance, CorWave SA obtained €35 million in Series C funding in October 2023 to progress the development of its novel Left Ventricular Assist Device (LVAD) technology into commercialization.

By End-User, the hospital segment accounted for the highest revenue-grossing segment in the global heart pump device market in 2023 owing to the increasing number of cardiac surgeries and procedures performed in hospital settings, rising prevalence of cardiovascular diseases, and availability of specialized medical facilities for heart failure management. For instance, LivaNova reported in November 2023 that patient enrollment in its UNLOAD study, which assessed the utility of its VNS Therapy for Heart Failure in patients with advanced heart failure, had concluded. Additionally, the cardiac center’s segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased focus on specialized heart failure treatment centers, advancements in cardiac care technologies, and rising demand for comprehensive heart disease management services.

North American region is anticipated to have the highest revenue share during the forecast period owing to the advanced healthcare infrastructure, high prevalence of cardiovascular diseases, strong presence of key market players, and favorable reimbursement policies for heart pump devices. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing awareness about heart health, rising healthcare expenditure, growing geriatric population, and improving accessibility to advanced medical technologies in emerging economies. For instance, in September 2023, Berlin Heart announced that Excor® Pediatric VAD, which meets the needs of pediatric heart failure patients, will be added to the company's product portfolio.

This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.

Report Scope:

• Base Year: 2023
• Forecast Period: 2024-2034
• Study Coverage
• Market Forecast by Type, Product, and End-User
• Market Forecast for 5 Regions and 17+ Countries
• North America (U.S. and Canada)
• Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
• Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
• Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
• MEA (South Africa, GCC, Rest of MEA)
• Exhaustive Company Profiles of the Top 10+ Major Market Players

Segmentation: Heart Pump Device Market Report 2023 - 2034

Heart Pump Device Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)

• Implanted Heart Pump Devices
• Extracorporeal Heart Pump Devices

Heart Pump Device Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)

• Ventricular Assist Devices (VADs)
• Total Artificial Hearts (TAHs)
• Intra-Aortic Balloon Pumps (IABPs)
• Extracorporeal Membrane Oxygenation (ECMO)

Heart Pump Device Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)

• Hospitals
• Cardiac Centers
• Others

Heart Pump Device Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• UK
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Mexico
• Argentina
• Rest of LATAM
• Middle East & Africa
• South Africa
• GCC
• Rest of MEA