Europe Cardiac Assist Devices Market - Growth, Trends, and Forecast (2020-2025)

Certain factors that are driving the European cardiac assist devices market growth include increasing heart disease prevalence, the aging population, advancements in technology, and shortage of heart donors in transplantation. The continuous rapid advancements in the assist devices technologies and the novel applications of the existing treatments have led to an increase in cardiac assist devices. Engineers are also exploring many other innovative solutions, which help in implantation success, and is driving the cardiac assist devices market. Hence, the market is dependent upon a large number of innovations for growth. However, cardiac assist devices are highly expensive. The high costs of the devices and the low per capita income is likely to impede the market of cardiac assist devices in Europe. Other factors, such as the availability of alternative treatments, like pacemakers, and the risks associated with device implantation are also hindering the market growth.

Key Market Trends

The Total Artificial Heart Segment is Expected to Hold Significant Market Share

The various extracorporeal and ventricular assist devices can only be considered as temporary solutions. The only available option is a total artificial heart. It is considered as the best long-term solution for patients suffering from advanced heart failure issues.

There are, currently, many different types of artificial hearts in the market that are being used, like the SynCardia temporary total artificial heart, Abiocar replacement heart, and Carmat artificial heart, helping the market growth in the region. In December 2018, CARMAT the designer and developer of the world’s most advanced total artificial heart and European Investment Bank (EIB), which is the bank of the European Union (EU), entered into a EUR 30 million loan agreement supported by the European Fund for Strategic Investments (EFSI) for the marketing process of its total artificial heart in European countries.

Competitive Landscape

The European cardiac assist devices market is highly competitive and consists of a number of major players. Companies, like Abiomed, Berlin Heart, CardiacAssist Inc., Cardiobridge GmbH, Carmat, HeartWare, Jarvik Heart Inc., Xenios AG, MiTiHeart Corporation, SynCardia Systems LLC, among others, hold a substantial market share in the European cardiac assist devices market.

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