Heart Pump Device Market

Jude Medical (a subsidiary of Abbott Laboratories) (US) and Abiomed (US) are the Major Players in the Heart Pump Device Market

The global heart pump devices market is projected to reach USD 3.98 Billion by 2022 from an estimated USD 1.64 Billion in 2017 at a CAGR of 19.4%. The heart pump devices market is consolidated in nature and the top three players hold a majority share of the market. In 2016, St. Jude Medical (a subsidiary of Abbott Laboratories) (US), Abiomed (US), and Medtronic (Ireland) held a share of approximately 75% to 80% of the global heart pump devices market.

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.  

Some of the other players competing in this market are 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).

Related Reports:

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 to 2022

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Report Code
MD 6265
Published ON
May, 2018
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