Heart pumps are mechanical devices that assist the weakened heart to pump the blood for proper circulation to other body organs. Cardiovascular disorders can result in heart failure. These devices help relieve heart failure symptoms, including fatigue or breathe shortness. They also offer rest to the heart for it to recover to its normal function. Cardiovascular patients need to undergo heart transplantation, and there the heart pump helps them a lot.
The "Global Centrifugal Heart Pumps Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the centrifugal heart pumps market with detailed market segmentation by product, application, and geography. The report provides key statistics on the market status of the leading centrifugal heart pumps market players and offers key trends and opportunities in the market.
- Based on product, the global centrifugal heart pumps market is segmented into implantable heart pump devices and extracorporeal heart pump devices.
- Based on application, the market is segmented into hospitals, ambulatory surgical centers, specialty clinics and others.
MARKET DYNAMICS Drivers:
- Growing cases of obesity, increasing prevalence of cardiac disorders and heart failure patients drive the centrifugal heart pumps market growth.
- Growing R&D in the mechanical heart pump technology and technological advancements fuel market growth.
- Due to the limited availability of hearts for transplant, there is boost in the demand for heart pump market.
- An alternative treatment option.
- High cost of heart pump devices.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The centrifugal heart pumps market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the centrifugal heart pumps market in these regions.
IMPACT OF COVID-19 ON CENTRIFUGAL HEART PUMPS MARKET
COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The industries have been significantly impacted by the pandemic outbreak; also, there were changes in the healthcare sector. In order to lower the risk of exposure and the spread of the virus, the cardiac care sector had postponed and canceled elective surgeries. With reduced hospitalizations regarding heart failure, the heart pump devices market witnessed a significant decline in growth. Also, the manufacturers experienced a decrease in revenue due to the pandemic. Hence, owing to the above-mentioned factors, the market growth was affected.
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The report covers key developments in the centrifugal heart pumps market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from centrifugal heart pumps market are anticipated to have lucrative growth opportunities in the future with the rising demand for centrifugal heart pumps in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the centrifugal heart pumps market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.