(EMAILWIRE.COM, April 02, 2021 ) The key factors driving the growth of Heart Pump Device Market include the rising prevalence of cardiovascular diseases, increasing number of regulatory approvals, and a huge gap between supply and demand of donor hearts is driving the demand for heart pump devices.

According to the new market research report "Heart Pump Device Market by Product (Ventricular Assist Device (LVAD, RVAD, BiVAD, and pVAD), Intra Aortic Balloon Pump, TAH), Type (Extracorporeal and Implantable Pump), Therapy (Bridge-to-transplant, Destination Therapy) - Global Forecast" published by MarketsandMarkets™.

The Global Heart Pump Device Market is projected to reach USD 3.98 Billion by 2022, at a CAGR of 19.4% during the forecast period.

Browse 74 market data Tables and 33 Figures spread through 131 Pages and in-depth TOC on "Heart Pump Device Market"

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Geographical Scenario in Depth: North America is expected to account for the largest share of the heart pump devices market, followed by Europe. Factors such as the regulatory approval of several new and advanced heart pump devices, favorable medical coverage, large gap between the supply and demand of donor hearts for transplants, and high incidence and prevalence of cardiovascular diseases are contributing to the large share of North America.

Leading Key-Players: The key players in the global heart pump devices market are St. Jude Medical (a subsidiary of Abbott Laboratories) (US), Abiomed (US), Medtronic (Ireland), Getinge (Sweden), Teleflex (US), ReliantHeart (US), BerlinHeart (Germany), Terumo (Japan), SynCardia Systems (US), TandemLife (CardiacAssist) (US), Jarvik Heart (US), and Fresenius Medical Care (Germany).

St. Jude Medical (a subsidiary of Abbott Laboratories) (US), dominated the heart pump devices market in 2016. In the field of heart pump devices, the company offers an extensive range of ventricular assist devices (VADs) for heart failure. Abbott has a strong presence in North America, Europe, Africa, Asia Pacific, the Middle East, and South America. It has a robust distribution network across 150 countries and major facilities in Germany and the US. The company focuses on organic growth strategies such as product launches and expansions.

Abiomed (US) was one of the major players in the heart pump devices market in 2016. In the field of heart pump devices, the company offers percutaneous ventricular assist devices, one of the fastest growing segments of the market. The company focuses on maintaining its leading position through constant innovation, increasing R&D expenditure, and patented technologies. It focuses on R&D investments for the development of technically advanced products. The company invested USD 66.4 million, USD 49.8 million, and USD 36.0 million, in 2015, 2016, and 2017, respectively, in R&D activities.

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Objectives of the Study;

- To define, measure, and describe the global heart pump devices market by product, type, therapy, and region

- To provide detailed information about the major factors influencing market growth (drivers, restraints, challenges, and opportunities)

- To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market

- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players

- To forecast the size of market segments in North America, Europe, Asia Pacific, and RoW