What is Artificial Heart Market?
An Artificial heart is device that replace original heart and it perform like original heart. It can be consider as prosthetic device fixed into the body to substitute the organic mammalian heart. Person can live with artificial heart from a few weeks to more than one year. Risk associated with treatment for artificial heart implementation because it can lead to bleed and infection.
Highlights from Artificial Heart Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | SynCardia Systems (United States), BiVACOR (United States), CARMAT (France), Abbott (United States), Cleveland Heart (United States), AbioMed (United States), Jarvik Heart (United States), Cirtec Medical Systems (United States), Thoratec Corporation (United States), Boston Scientific Corporation (United States) and Braile Biomedica (Brazil) |
Artificial heart market is a fragmented market due to the presence of various players. companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Artificial Heart market throughout the forecasted period.
SynCardia Systems (United States), BiVACOR (United States), CARMAT (France), Abbott (United States), Cleveland Heart (United States), AbioMed (United States), Jarvik Heart (United States), Cirtec Medical Systems (United States), Thoratec Corporation (United States), Boston Scientific Corporation (United States) and Braile Biomedica (Brazil) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Colibri Heart Valve LLC (United States), Cryolife Inc. (United States), Edwards Lifesciences Corporation (United States), Heart Leaflet Technology (United States), Jenavalve Technology Inc.(Germany) and Leman Cardiovascular (Switzerland). Artificial Heart Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Healthcare |
Type | Ventricular Assist Device (VAD) and Total Artificial Heart |
End User | Hospitals,Clinics,Research Centers,Others |
On the basis of geography, the market of Artificial Heart has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Awareness about New Technological Innovations and Government Initiation towards Providing Funds for Treatment of Heart Dieses
Market Growth Drivers:
Rising Mortality Ratio Due To Cardiovascular Diseases, Unhealthy Lifestyle and Undesirable Atmospheric Conditions
Challenges:
Need of Skilled Cardiac Specialist and Threat of Substitution by using Alternative Methods
Restraints:
Expensive Treatment, Risk Associated With Transplant Procedure and Strict Regulatory Approvals
Opportunities:
Increasing Healthcare Infrastructure in Emerging Nations
Key Target Audience
Artificial heart Suppliers, Artificial heart Manufacturers, Research Laboratories, Medical Devices Industries, Medical Institutes, Government Research Centre and Others
Market Leaders & Development Strategies
In April 2023, SynCardia Systems, LLC, mechanical heart replacement technology provider merge with Altitude Acquisition Corp and become publicly traded company. After this agreement, altitude renamed to Picard Medical holding INC. this merge helped SynCardia Systems, LLC. to expand its presence in artificial heart market
On 1st August 2018, CARMAT the designer and developer of the world's most advanced total artificial heart project has announced successful transplant of a donor heart in the first international patient implanted with the CARMAT heart in October 2017. and On 29th May 2018, Boston Scientific Europe has launched the HeartLogic™ Heart Failure Diagnostic in Europe. It provides a diagnostic tool that enables proactive heart failure (HF) care.