Heart Pump Device Market, By Type (Implantable Heart Pump Devices and Extracorporeal Heart Pump Devices), By Product (Intra-aortic Balloon Pumps, Ventricular Assist Devices (RVAD, LVAD, pVAD, BiVAD), and TAH (Total Artificial Heart)), By Therapy (Destination Therapy, Bridge to Transplant, and Others), By End-Users (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, and Others), and By Region - Trends, Analysis and Forecast till 2034

Rising rates of urbanization and cardiovascular disease incidence

Growing rates of cardiovascular illnesses and increased urbanization are now the main reasons propelling the market for heart pump devices. Increased consumption of processed foods, foods in frozen packs, foods derived from animals, and a decrease in physical activity have all been linked to urbanization. These factors have a negative impact on people's health and can lead to chronic conditions like heart disease, diabetes, obesity, high blood pressure, and gastrointestinal disorders. In 2018, the United Nations Department of Economic and Social Affairs released data indicating that 55% of the world's population lived in urban regions. Over the course of the forecast period, it is anticipated that this percentage will rise.

Furthermore, the United States saw about 697,000 heart disease-related deaths and about 20.1 million adults aged 20 and older with coronary artery disease (CAD), according to the CDC (Centers for Disease Control and Prevention). These statistics support the growth of the heart pump device market.

Creation of Novel Products

Recent developments in heart pump technology are now a significant driver of market expansion. Innovative heart pump products can now be produced by manufacturers thanks to technological advancements. For example, the PMC (PubMed Central) states that the SynCardia (SynCardia CardioWest TAH) is the first and only entirely artificial heart in operation to have received commercial approval.

Additionally, the French medical technology company CorWave's revolutionary "CorWave LVAD" heart pump took home the "2021 HealthTech Award" in 2021 for its membrane pump technology. The recently designed "CorWave LVAD" pump creates a pulsatile pumping activity that is more akin to the natural heart's in order to move the membrane up and down using a pulse pump.