Mechanical Circulatory Support Devices Market Size by Segments, Share, Regulatory, Reimbursement, Procedures and Forecast to 2033
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Mechanical Circulatory Support Devices Market Report Overview
The mechanical circulatory support devices market size was valued at $933.6 million in 2023 and is forecast to grow at a CAGR of more than 3% during 2023 and 2033. Mechanical Circulatory Support Devices are devices that replace or assist the pumping function of the ventricles.
Mechanical Circulatory Support Devices Market Outlook 2023-2033 ($ Million)
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The mechanical circulatory support devices market research report explains the market behavior, which will help identify quantitative market trends within the cardiovascular devices therapeutic area. The model discusses in detail the impact of COVID-19 on the mechanical circulatory support devices market for the year 2020 and beyond. The report has extensively covered pipeline products and technologies, which will help in identifying companies with the most robust pipeline. This, in turn, will assist in predictive analysis for designing in-licensing and out-licensing strategies.
Market Size (2023) | $933.6 million |
CAGR (2023-2033) | >3% |
Key Segments | External/Paracorporealventricular Assist Devices, Left Ventricular Assist Devices, and Total Artificial Heart. |
Key Regions | Asia-Pacific, Europe, Middle East and Africa, North America, and South and Central America |
Key Companies | Abbott Laboratories, Syncardia Systems LLC, Berlin Heart GmbH, and Jarvik Heart Inc |
Mechanical Circulatory Support Devices Market Segments
The key segments in the mechanical circulatory support devices market are external/paracorporeal ventricular assist devices, left ventricular assist devices, and the total artificial heart. In 2023, the left ventricular assist devices segment accounted for the highest share of the mechanical circulatory support devices market.
Mechanical Circulatory Support Devices Market Analysis by Segments, 2023 (%)
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Mechanical Circulatory Support Devices Market Segmentation by Region
The key regions in the mechanical circulatory support devices market are Asia-Pacific, Europe, Middle East and Africa, North America, and South and Central America. In 2023, North America accounted for the highest share of the mechanical circulatory support devices market share. The increase in the prevalence of heart failure and the growing aging population coupled with favorable reimbursement policies are expected to drive the market of ventricular assist devices in North America.
Mechanical Circulatory Support Devices Market Analysis by Region, 2023 (%)
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Mechanical Circulatory Support Devices Market – Competitive Landscape
The key companies in the mechanical circulatory support devices market are Abbott Laboratories, Syncardia Systems LLC, Berlin Heart GmbH, and Jarvik Heart Inc. among others. In 2023, Abbott Laboratories accounted for the highest share of the mechanical circulatory support devices market share in terms of value and volume.
Mechanical Circulatory Support Devices Market Analysis by Leading Companies, 2023 (%)
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Key Segments Covered in this Report
Mechanical Circulatory Support Devices Market Segment Outlook (Value, $ Million, 2015-2033)
- External/ParacorporealVentricular Assist Devices
- Left Ventricular Assist Devices
- Total Artificial Heart
Mechanical Circulatory Support Devices Market Regional Outlook (Value, $ Million, 2015-2033)
- North America
- Europe
- Asia-Pacific
- Middle East and Africa
- South and Central America
Mechanical Circulatory Support Devices Market Procedure Outlook (Volume, Number of Procedures, 2015-2033)
- Bridge to Transplant Therapy Procedures
- Destination Therapy Procedures
- Bridge to Recovery Therapy Procedures
Scope
This report provides:
- Currently marketed mechanical circulatory support devices and evolving competitive landscape.
- Insightful review of the key industry trends.
- Annualized total mechanical circulatory support devices market revenue by segment and market outlooks from 2015-2033.
- Granular data on total procedures, units, average selling prices, and market values by segment.
- Global, regional, and country-level market-specific insights.
- Qualitative market-specific information with global trends further broken down into regional trends. In addition, GlobalData analysts provide unique country-specific insights on the market.
- SWOT analysis for mechanical circulatory support devices market.
- Competitive dynamics insights and trends provided for the mechanical circulatory support devices market.
- Country-specific overview of the healthcare system.
- Country-specific reimbursement policies.
- Country-specific medtech regulatory landscape.
Reasons to Buy
- Understand the impact of COVID-19 on the mechanical circulatory support devices market.
- Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline.
- Develop business strategies by understanding the trends shaping and driving the mechanical circulatory support devices market.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the mechanical circulatory support devices market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company’s share of market leaders.
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
- Track device sales in the global and country-specific mechanical circulatory support devices market from 2015-2033.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.
Frequently asked questions
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What was the size of the mechanical circulatory support devices market in 2023?
The mechanical circulatory support devices market size was $933.6 million in 2023.
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Which segment dominated the mechanical circulatory support devices market in 2023?
The left ventricular assist devices segment dominated the mechanical circulatory support devices market in 2023.
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Which region held the highest mechanical circulatory support devices market share in 2023?
North America held the highest mechanical circulatory support devices market share in 2023.
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Who are the key players operating in the mechanical circulatory support devices market?
Abbott Laboratories, Syncardia Systems LLC, Berlin Heart GmbH, and Jarvik Heart Inc among others are the key players in the mechanical circulatory support devices market.
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