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Heart Pump Devices Market to exceed US$ 6 Billion by 2027 Globally

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A comprehensive overview of the Heart Pump Devices Market is recently added by UnivDatos Market Insights to its humongous database. The Heart Pump Devices Market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Heart Pump Devices market. The Heart Pump Devices Market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Heart Pump Devices market at the global and regional levels. Heart Pump Devices market is expected to grow at a CAGR of 18.9% from 2021-2027 to exceed US$ 6 billion by 2027.

Market Overview

The key reason for the heart pump devices market growth is the growing technological advancements, accompanied by the increasing prevalence of cardiovascular diseases and heart failure. Additionally, the waiting time for heart transplants. For example, in 2020, in Australia, around 1,650 individuals were on the waiting list for a heart transplant and only 463 donors were available, thus heart pump devices could help in the meantime. According to the report by the transplant Activity (2018/19), the number of heart patients has increased 134% since 2010. Furthermore, reimbursements for heart pump devices are increasing. One reason for the increasing heart failure is the increasing obesity in the population. The major drawback of the market is the LVAD related complication or surgical complications that can occur while implanting the heart pump device. LVAD-related complications in 60% of the patients, occur 6 months post-implantation. Unplanned readmission after LVAD-implants is common.

COVID-19 Impact

The pandemic brought the world to a standstill. All industries have suffered some form of loss due to the pandemic. In addition to this, the pandemic has also cost many lives. A few studies have also reported other hidden symptoms of Covid-19 that can affect a few individuals. The Coronavirus can cause cardiovascular conditions in individuals which can lead to the weakening of the biventricular function and that leads to a higher mortality rate. In 4-50% of the cases, right ventricular failure can be a consequence of LAVD implantation. In a study from China, the mortality rate of LVAD patients was given 21.4%, on the other hand, the general mortality rate if 2.3%. This huge variation in people with LVAD implants is a huge concern during covid-19. With a little relief of Covid-19, operational procedures are re-opening and people needing heart pumps or other implants can get them now. With the business going back to normal in more and more countries around the world, the heart pump market is expected to gain back its momentum in the market very fast.

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