Artificial Heart Market Dynamics - 2021 to 2031
The Artificial Heart Market is expected to register a CAGR of 12.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Type (Total Artificial Hearts (TAH), Left Ventricular Assist Devices (LVAD); Technology (Continuous Flow Technology, Pulsatile Flow Technology); End User (Hospitals, Ambulatory Surgical Centers (ASCs) . The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Artificial Heart Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Artificial Heart Market Segmentation
Type- Total Artificial Hearts
- Left Ventricular Assist Devices
- Continuous Flow Technology
- Pulsatile Flow Technology
- Hospitals
- Ambulatory Surgical Centers
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Artificial Heart Market Growth Drivers- Increasing Prevalence of Cardiovascular Diseases:
The growing burden of cardiovascular diseases (CVDs) is one of the significant factors contributing to the growth of the artificial heart market. In correlation with the increasing incidence of heart failure and other disorders associated with the heart, the market for artificial hearts and associated devices is expected to increase. Furthermore, the expanding prevalence of heart failure also remains a crucial driver for the artificial heart market. Heart failure is usually associated with severe outcomes, which in turn calls for more advanced treatment alternatives such as Total Artificial Hearts and Ventricular Assist Devices (VADs)-to mention but a few. The growing cases of heart failure and other cardiovascular diseases poised to affect many people are some of the primary reasons for market growth for artificial hearts. Emerging trends such as increasing heart failure incidences, lack of sufficient donor organs, growing technology, aging population, and increased awareness and diagnosis, among others, are all facilitating the rise in demand for artificial hearts. With the continuation of these tendencies, it is forecasted that the market will grow, thereby creating room for new developments and enhancing service delivery among patients suffering from CVDs. - Government Initiatives and Funding:
Government funding and initiatives are pivotal in developing the artificial heart industry. Such measures might augment research and development and also make cost-effective artificial heart technologies accessible to the people and the health system. Institutions such as the National Heart Lung and Blood Institute (NHLBI) and the National Science Foundation (NSF) have funding programs to help support the development of cardiovascular-based solutions, including artificial heart technologies. Such funds stimulate creativity; hence, there are more sophisticated and efficient devices that can take care of patients based on the conditions presented. It is also the case with the advancement of technologies in relation to government initiatives and funding where there is growth in the artificial heart market through research and development, shortening of regulatory processes, enhancement of public health education, promoting partnership, and improving access, among other things. It is these factors that cumulatively help to productively develop artificial heart technology productively, thereby assisting patients who suffer from diseases related to the heart. - Improved Surgical Techniques:
The development of surgical techniques is one of the most critical factors that affect the artificial heart market, including both the artificial heart technology itself and its implementation. Better surgical techniques contribute to the improvement of patient care, the prevention of complications, and the increase in the number of patients suitable for artificial hearts. The paradigm shift in favor of Minimally Invasive Cardiac Surgery (MICS) has changed the approach toward the implantation of artificial hearts and other devices. These techniques are also associated with less trauma to the patients, faster recovery, and lower complication rates, all of which make it more favorable for both patients and physicians to perform artificial heart procedures. Improving surgical techniques would mean that a larger spectrum of patients would be suitable for artificial hearts, widening the market. In conclusion, the development of advanced surgical procedures facilitates the artificial heart market by enabling minimally invasive operations, improving surgical results, integrating interventions, encouraging people to learn a specific craft, and enhancing the overall social acceptance of such devices. Along with these factors, the progress and enhancement of artificial heart technologies aid patients suffering from heart issues.
- Technological Advancements:
Technological advancements are a significant trend shaping the artificial heart market, driving innovation, and improving patient outcomes. These advancements encompass a range of developments that enhance the design, functionality, and integration of artificial heart devices. The integration of digital technologies, such as remote monitoring and data analytics, is transforming the management of artificial heart patients. These technologies allow for real-time monitoring of device performance and patient health, enabling timely interventions and personalized care. This trend not only enhances patient safety but also fosters greater confidence in the use of artificial hearts.
In conclusion, technological advancements are a driving force in the artificial heart market, influencing everything from materials and design to patient management and integration with digital health technologies. These innovations not only improve the performance and safety of artificial hearts but also expand their accessibility and acceptance among patients and healthcare providers. As technology continues to evolve, it is likely to enhance further the capabilities and market potential of artificial heart solutions. - Increasing Demand for Heart Failure Solutions:
With the rising prevalence of heart failure and other cardiovascular diseases, there is a growing demand for effective treatment options. Artificial hearts, including total artificial hearts and ventricular assist devices (VADs), are becoming increasingly recognized as viable solutions for patients with severe heart conditions. With the limitations of conventional treatments for heart failure, healthcare providers are increasingly looking for advanced therapies. Artificial hearts represent a critical option for patients with end-stage heart failure who are not candidates for heart transplants. This shift towards more aggressive treatment options is propelling the growth of the artificial heart market.
- Addressing Lifestyle-Related Cardiac Issues:
Manufacturers of mechanical hearts stand to gain a great deal from the surge in unhealthy lifestyles that worsen cardiac health. The need for artificial hearts is projected to rise as more people experience heart-related problems as a result of lifestyle decisions, opening up a market for novel goods and remedies. There are a lot of prospects for the artificial heart market because lifestyle-related cardiac diseases like obesity, sedentary behavior, and poor nutritional choices are becoming more common. These factors are anticipated to increase the need for novel solutions, such as mechanical hearts, as cardiovascular disorders become more common. - Expanding Research and Development:
The market for artificial hearts is set to witness a substantial surge owing to the increasing Growth in Research and Development (R&D) activities. This is important for improving the efficacy, safety, and affordability of artificial heart technologies. More advanced artificial heart technologies are being designed owing to the collaboration of research institutions with manufacturers of medical equipment and colleges. These associations allow for the exchange of information, resources, and skills that improve the quality of the designs and their applicability. This type of cooperation helps speed up the process of creating new ideas and making products available in the market sooner.
To sum up, a large share of the market for artificial hearts is expected to grow because of growing opportunities in research and development across all levels. Encouraging alliances in the industry, using technology to the fullest, and ensuring designs are patient-friendly will make the use of artificial heart technologies more effective and available. R&D will also be significant to address the innovative requirements of the market in the future, particularly in the area of cardiac care.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Artificial Heart Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Artificial Heart Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
System
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Frequently Asked Questions
The Left Ventricular Assist Devices (LVAD)
segment accounts for highest revenue in product the Artificial Heart Market in 2023
Asia Pacific region dominated the Artificial Heart Market in 2023
North America region dominated the Artificial Heart Market in 2023
The Artificial Heart Market is estimated to witness a CAGR of 12.5% from 2023 to 2031
The major factors driving the Artificial Heart Market are:
1.Increasing Prevalence of Cardiovascular Diseases
2. Government Initiatives and Funding
3. Improved Surgical Techniques
SynCardia Systems, Cleveland Heart, Inc., BiVACOR Inc., Abbott accounting for higesh market shares and are some of the major players operating in the market
1. INTRODUCTION
1.1. SCOPE OF STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
2. KEY TAKEAWAYS
3. ARTIFICIAL HEART MARKET LANDSCAPE
3.1. MARKET OVERVIEW
3.2. MARKET SEGMENTATION
3.2.1. Artificial Heart Market - By System
3.2.2. Artificial Heart Market - By Region
3.2.2.1. By Country
3.3. PEST ANALYSIS
3.3.1. North America - PEST Analysis
3.3.2. Europe - PEST Analysis
3.3.3. Asia Pacific - PEST Analysis
3.3.4. Middle East and Africa - PEST Analysis
3.3.5. South and Central America- PEST Analysis
4. ARTIFICIAL HEART MARKET - KEY INDUSTRY DYNAMICS
4.1. KEY MARKET DRIVERS
4.2. KEY MARKET RESTRAINTS
4.3. KEY MARKET OPPORTUNITIES
4.4. FUTURE TRENDS
4.5. IMPACT ANALYSIS
5. ARTIFICIAL HEART MARKET - GLOBAL ANALYSIS
5.1. GLOBAL ARTIFICIAL HEART MARKET OVERVIEW
5.2. GLOBAL ARTIFICIAL HEART MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
5.3. GLOBAL ARTIFICIAL HEART MARKET VOLUME FORECASTS AND ANALYSIS ('000 UNITS)
5.4. MARKET POSITIONING/MARKET SHARE
5.5. PERFORMANCE OF KEY PLAYERS
5.6. EXPERT OPINIONS
6. ARTIFICIAL HEART MARKET- GLOBAL REGULATORY SCENARIO
6.1. OVERVIEW
6.2. NORTH AMERICA
6.3. EUROPE
6.4. ASIA PACIFIC
6.5. MIDDLE EAST & AFRICA
6.6. SOUTH AND CENTRAL AMERICA
7. ARTIFICIAL HEART MARKET REVENUE AND FORECASTS TO 2028 - BY SYSTEM
7.1. OVERVIEW
7.2. SYSTEM MARKET REVENUE AND FORECASTS ANALYSIS (US$ MN)
7.3. SYSTEM MARKET VOLUME AND FORECASTS ANALYSIS ('000 UNITS)
7.4. ARTIFICIAL HEART MARKET
7.4.1. Overview
7.4.2. Artificial Heart Market Revenue Forecasts and Analysis (US$ Mn)
7.4.3. Artificial Heart Market Volume Forecasts and Analysis ('000 Units)
7.4.4. Ventricular Assist Device (VAD) Market
7.4.4.1. Overview
7.4.4.2. Ventricular Assist Device (VAD) Market Revenue Forecasts and Analysis (US$ Mn)
7.4.4.3. Ventricular Assist Device (VAD) Market Volume Forecasts and Analysis ('000 Units)
7.4.5. Total Artificial Heart Market
7.4.5.1. Overview
7.4.5.2. Total Artificial Heart Market Revenue Forecasts and Analysis (US$ Mn)
7.4.5.3. Total Artificial Heart Market Volume Forecasts and Analysis ('000 Units)
7.5. POWER SUPPLY MARKET
7.5.1. Overview
7.5.2. Power Supply Market Revenue Forecasts and Analysis (US$ Mn)
7.5.3. Power Supply Market Volume Forecasts and Analysis ('000 Units)
7.5.4. External Battery Market
7.5.4.1. Overview
7.5.4.2. External Battery Market Revenue Forecasts and Analysis (US$ Mn)
7.5.4.3. External Battery Market Volume Forecasts and Analysis ('000 Units)
7.5.5. Internal Battery Market
7.5.5.1. Overview
7.5.5.2. Internal Battery Market Revenue Forecasts and Analysis (US$ Mn)
7.5.5.3. Internal Battery Market Volume Forecasts and Analysis ('000 Units)
7.6. OTHERS MARKET
7.6.1. Overview
7.6.2. Others Market Revenue Forecasts and Analysis (US$ Mn)
7.6.3. Others Market Volume Forecasts and Analysis ('000 Units)
8. NORTH AMERICA ARTIFICIAL HEART MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
8.1. NORTH AMERICA ARTIFICIAL HEART MARKET OVERVIEW
8.2. NORTH AMERICA ARTIFICIAL HEART MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
8.3. NORTH AMERICA ARTIFICIAL HEART MARKET VOLUME FORECASTS AND ANALYSIS ('000 UNITS)
8.4. NORTH AMERICA ARTIFICIAL HEART MARKET REVENUE AND FORECASTS ANALYSIS - BY SYSTEM (US$ MN)
8.5. NORTH AMERICA ARTIFICIAL HEART MARKET VOLUME AND FORECASTS ANALYSIS - BY SYSTEM ('000 UNITS)
8.5.1. North America Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
8.5.2. North America Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
8.5.3. North America Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
8.5.4. North America Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
8.6. NORTH AMERICA ARTIFICIAL HEART MARKET REVENUE AND FORECASTS ANALYSIS - BY COUNTRY (US$ MN)
8.7. US MARKET OVERVIEW
8.7.1. US Artificial Heart Market Revenue Forecasts and Analysis - By System (US$ Mn)
8.7.2. US Artificial Heart Market Volume Forecasts and Analysis - By System ('000 Units)
8.7.2.1. US Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
8.7.2.2. US Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
8.7.2.3. US Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
8.7.2.4. US Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
8.8. CANADA MARKET OVERVIEW
8.8.1. Canada Artificial Heart Market Revenue Forecasts and Analysis - By System (US$ Mn)
8.8.2. Canada Artificial Heart Market Volume Forecasts and Analysis - By System ('000 Units)
8.8.2.1. Canada Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
8.8.2.2. Canada Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
8.8.2.3. Canada Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
8.8.2.4. Canada Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
8.9. MEXICO MARKET OVERVIEW
8.9.1. Mexico Artificial Heart Market Revenue Forecasts and Analysis - By System (US$ Mn)
8.9.2. Mexico Artificial Heart Market Volume Forecasts and Analysis - By System ('000 Units)
8.9.2.1. Mexico Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
8.9.2.2. Mexico Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
8.9.2.3. Mexico Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
8.9.2.4. Mexico Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
9. EUROPE ARTIFICIAL HEART MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
9.1. EUROPE ARTIFICIAL HEART MARKET OVERVIEW
9.2. EUROPE ARTIFICIAL HEART MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
9.3. EUROPE ARTIFICIAL HEART MARKET VOLUME FORECASTS AND ANALYSIS ('000 UNITS)
9.4. EUROPE ARTIFICIAL HEART MARKET REVENUE AND FORECASTS ANALYSIS - BY SYSTEM (US$ MN)
9.5. EUROPE ARTIFICIAL HEART MARKET VOLUME AND FORECASTS ANALYSIS - BY SYSTEM ('000 UNITS)
9.5.1. Europe Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
9.5.2. Europe Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
9.5.3. Europe Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
9.5.4. Europe Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
9.6. EUROPE ARTIFICIAL HEART MARKET REVENUE AND FORECASTS ANALYSIS - BY COUNTRY (US$ MN)
9.7. UK MARKET OVERVIEW
9.7.1. UK Artificial Heart Market Revenue Forecasts and Analysis - By System (US$ Mn)
9.7.2. UK Artificial Heart Market Volume Forecasts and Analysis - By System ('000 Units)
9.7.2.1. UK Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
9.7.2.2. UK Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
9.7.2.3. UK Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
9.7.2.4. UK Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
9.8. GERMANY MARKET OVERVIEW
9.8.1. Germany Artificial Heart Market Revenue Forecasts and Analysis - By System (US$ Mn)
9.8.2. Germany Artificial Heart Market Volume Forecasts and Analysis - By System ('000 Units)
9.8.2.1. Germany Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
9.8.2.2. Germany Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
9.8.2.3. Germany Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
9.8.2.4. Germany Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
9.9. FRANCE MARKET OVERVIEW
9.9.1. France Artificial Heart Market Revenue Forecasts and Analysis - By System (US$ Mn)
9.9.2. France Artificial Heart Market Volume Forecasts and Analysis - By System ('000 Units)
9.9.2.1. France Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
9.9.2.2. France Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
9.9.2.3. France Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
9.9.2.4. France Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
10. ASIA PACIFIC ARTIFICIAL HEART MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
10.1. ASIA PACIFIC ARTIFICIAL HEART MARKET OVERVIEW
10.2. ASIA PACIFIC ARTIFICIAL HEART MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
10.3. ASIA PACIFIC ARTIFICIAL HEART MARKET VOLUME FORECASTS AND ANALYSIS ('000 UNITS)
10.4. ASIA PACIFIC ARTIFICIAL HEART MARKET REVENUE AND FORECASTS ANALYSIS - BY SYSTEM (US$ MN)
10.5. ASIA PACIFIC ARTIFICIAL HEART MARKET VOLUME AND FORECASTS ANALYSIS - BY SYSTEM ('000 UNITS)
10.5.1. Asia Pacific Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
10.5.2. Asia Pacific Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
10.5.3. Asia Pacific Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
10.5.4. Asia Pacific Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
10.6. ASIA PACIFIC ARTIFICIAL HEART MARKET REVENUE AND FORECASTS ANALYSIS - BY COUNTRY (US$ MN)
10.7. JAPAN MARKET OVERVIEW
10.7.1. Japan Artificial Heart Market Revenue Forecasts and Analysis - By System (US$ Mn)
10.7.2. Japan Artificial Heart Market Volume Forecasts and Analysis - By System ('000 Units)
10.7.2.1. Japan Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
10.7.2.2. Japan Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
10.7.2.3. Japan Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
10.7.2.4. Japan Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
10.8. CHINA MARKET OVERVIEW
10.8.1. China Artificial Heart Market Revenue Forecasts and Analysis - By System (US$ Mn)
10.8.2. China Artificial Heart Market Volume Forecasts and Analysis - By System ('000 Units)
10.8.2.1. China Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
10.8.2.2. China Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
10.8.2.3. China Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
10.8.2.4. China Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
10.9. INDIA MARKET OVERVIEW
10.9.1. India Artificial Heart Market Revenue Forecasts and Analysis - By System (US$ Mn)
10.9.2. India Artificial Heart Market Volume Forecasts and Analysis - By System ('000 Units)
10.9.2.1. India Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
10.9.2.2. India Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
10.9.2.3. India Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
10.9.2.4. India Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
11. MIDDLE EAST AND AFRICA (MEA) ARTIFICIAL HEART MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
11.1. MIDDLE EAST AND AFRICA (MEA) ARTIFICIAL HEART MARKET OVERVIEW
11.2. MIDDLE EAST AND AFRICA (MEA) ARTIFICIAL HEART MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
11.3. MIDDLE EAST AND AFRICA (MEA) ARTIFICIAL HEART MARKET VOLUME FORECASTS AND ANALYSIS ('000 UNITS)
11.4. MIDDLE EAST AND AFRICA (MEA) ARTIFICIAL HEART MARKET REVENUE AND FORECASTS ANALYSIS - BY SYSTEM (US$ MN)
11.5. MIDDLE EAST AND AFRICA (MEA) ARTIFICIAL HEART MARKET VOLUME AND FORECASTS ANALYSIS - BY SYSTEM ('000 UNITS)
11.5.1. Middle East and Africa (MEA) Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
11.5.2. Middle East and Africa (MEA) Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
11.5.3. Middle East and Africa (MEA) Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
11.5.4. Middle East and Africa (MEA) Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
11.6. MIDDLE EAST AND AFRICA (MEA) ARTIFICIAL HEART MARKET REVENUE AND FORECASTS ANALYSIS - BY COUNTRY (US$ MN)
11.7. SOUTH AFRICA MARKET OVERVIEW
11.7.1. South Africa Artificial Heart Market Revenue Forecasts and Analysis - By System (US$ Mn)
11.7.2. South Africa Artificial Heart Market Volume Forecasts and Analysis - By System ('000 Units)
11.7.2.1. South Africa Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
11.7.2.2. South Africa Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
11.7.2.3. South Africa Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
11.7.2.4. South Africa Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
11.8. SAUDI ARABIA MARKET OVERVIEW
11.8.1. Saudi Arabia Artificial Heart Market Revenue Forecasts and Analysis - By System (US$ Mn)
11.8.2. Saudi Arabia Artificial Heart Market Volume Forecasts and Analysis - By System ('000 Units)
11.8.2.1. Saudi Arabia Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
11.8.2.2. Saudi Arabia Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
11.8.2.3. Saudi Arabia Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
11.8.2.4. Saudi Arabia Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
11.9. UAE MARKET OVERVIEW
11.9.1. UAE Artificial Heart Market Revenue Forecasts and Analysis - By System (US$ Mn)
11.9.2. UAE Artificial Heart Market Volume Forecasts and Analysis - By System ('000 Units)
11.9.2.1. UAE Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
11.9.2.2. UAE Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
11.9.2.3. UAE Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
11.9.2.4. UAE Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
12. SOUTH AND CENTRAL AMERICA ARTIFICIAL HEART MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
12.1. SOUTH AND CENTRAL AMERICA ARTIFICIAL HEART MARKET OVERVIEW
12.2. SOUTH AND CENTRAL AMERICA ARTIFICIAL HEART MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
12.3. SOUTH AND CENTRAL AMERICA ARTIFICIAL HEART MARKET VOLUME FORECASTS AND ANALYSIS ('000 UNITS)
12.4. SOUTH AND CENTRAL AMERICA ARTIFICIAL HEART MARKET REVENUE AND FORECASTS ANALYSIS - BY SYSTEM (US$ MN)
12.5. SOUTH AND CENTRAL AMERICA ARTIFICIAL HEART MARKET VOLUME AND FORECASTS ANALYSIS - BY SYSTEM ('000 UNITS)
12.5.1. South and Central America Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
12.5.2. South and Central America Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
12.5.3. South and Central America Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
12.5.4. South and Central America Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
12.6. SOUTH AND CENTRAL AMERICA ARTIFICIAL HEART MARKET REVENUE AND FORECASTS ANALYSIS - BY COUNTRY (US$ MN)
12.7. BRAZIL MARKET OVERVIEW
12.7.1. Brazil Artificial Heart Market Revenue Forecasts and Analysis - By System (US$ Mn)
12.7.2. Brazil Artificial Heart Market Volume Forecasts and Analysis - By System ('000 Units)
12.7.2.1. Brazil Artificial Heart Market Revenue and Forecast Analysis - By Type (US$ Mn)
12.7.2.2. Brazil Artificial Heart Market Volume and Forecast Analysis - By Type ('000 Units)
12.7.2.3. Brazil Power Supply Market Revenue and Forecast Analysis - By Type (US$ Mn)
12.7.2.4. Brazil Power Supply Market Volume and Forecast Analysis - By Type ('000 Units)
13. INDUSTRY LANDSCAPE
13.1. ORGANIC GROWTH STRATEGIES
13.1.1. New Product Launches
13.1.2. Marketing & Promotional Activities
13.2. INORGANIC GROWTH STRATEGIES
13.2.1. Partnerships, Collaborations, and Joint Ventures
13.2.2. Mergers & Acquisitions
14. ARTIFICIAL HEART MARKET, KEY COMPANY PROFILES
14.1. SYNCARDIA SYSTEMS, LLC
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Financial Overview
14.1.4. Product Portfolio
14.1.5. Product Pipeline
14.1.6. SWOT Analysis
14.1.7. Key Developments
14.2. BIVACOR INC.
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Financial Overview
14.2.4. Product Portfolio
14.2.5. Product Pipeline
14.2.6. SWOT Analysis
14.2.7. Key Developments
14.3. CARMAT
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Financial Overview
14.3.4. Product Portfolio
14.3.5. Product Pipeline
14.3.6. SWOT Analysis
14.3.7. Key Developments
14.4. CLEVELAND HEART, INC.
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Financial Overview
14.4.4. Product Portfolio
14.4.5. Product Pipeline
14.4.6. SWOT Analysis
14.4.7. Key Developments
14.5. ABIOMED
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Financial Overview
14.5.4. Product Portfolio
14.5.5. Product Pipeline
14.5.6. SWOT Analysis
14.5.7. Key Developments
14.6. ON-X LIFE TECHNOLOGIES INC
14.6.1. Business Description
14.6.2. Financial Overview
14.6.3. Product Portfolio
14.6.4. Product Pipeline
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. ABBOTT
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Financial Overview
14.7.4. Product Portfolio
14.7.5. Product Pipeline
14.7.6. SWOT Analysis
14.7.7. Key Developments
14.8. CIRTEC
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Financial Overview
14.8.4. Product Portfolio
14.8.5. Product Pipeline
14.8.6. SWOT Analysis
14.8.7. Key Developments
14.9. THORATEC CORPORATION
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Financial Overview
14.9.4. Product Portfolio
14.9.5. Product Pipeline
14.9.6. SWOT Analysis
14.9.7. Key Developments
14.10. MYLVAD
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Financial Overview
14.10.4. Product Portfolio
14.10.5. Product Pipeline
14.10.6. SWOT Analysis
14.10.7. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
15.3. RESEARCH METHODOLOGY
The List of Companies
1. SynCardia Systems, LLC
2. BiVACOR Inc.
3. CARMAT
4. Cleveland Heart, Inc.
5. ABIOMED
6. ON-X LIFE TECHNOLOGIES INC
7. Abbott
8. Cirtec
9. Thoratec Corporation
10. MyLVAD
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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