According to SPER Market Research, the Artificial Heart Market is estimated to reach USD 0.81 billion by 2032 with a CAGR of 14.06%.An artificial heart is a prosthetic organ inserted into the body to replace the organic heart of an animal. In order to employ the synthetic replacement as a mechanical circulatory support system, the natural valves and ventricles of humans are removed. The tools are frequently pneumatically operated. An artificial heart is still recognised in many ways as a technical marvel in clinical history, despite its practical limitations. These individuals are frequently in need of organ transplants and have advanced biventricular heart failure. The world’s ageing population and the concurrent rise in patients with cardiovascular problems are the main factors propelling the growth of the global artificial heart market.A greater public understanding of medical technological advancements and an increase in heart failure cases leading to amputations are also expected to boost the market. The adoption of an artificial heart is also a viable choice for those with acute biventricular malfunction.
It is projected that low surgical experience and high implementation costs would stymie industry growth. The development of a technologically cutting-edge healthcare infrastructure and continuing research projects with prominent vendors and international institutions for the development of effective vaccinations will create profitable growth possibilities for the global artificial heart market.
Artificial Heart Market Overview (2022-2032)
- Forecast CAGR (2022-2032): 14.06%
- Forecast Market Size (2032): 0.81 billion
Delays in elective procedures brought on by the implementation of COVID-19 have impacted the market for cardiovascular devices like artificial hearts. Only life-threatening surgeries were allowed, and the bulk of cardiac therapies had to be postponed or discontinued since resources had to be shifted to aid patients affected by COVID-19. As a result, the market for artificial hearts was significantly disrupted. The COVID-19 restrictions thus caused a great deal of harm to the. The surge in cardiac treatments, however, is expected to increase the need for artificial hearts.Growing networking and automation needs, need for smart healthcare infrastructure, robots in healthcare applications, and sensor-based devices are all expected to have a significant impact on the Artificial Heart Market during the foreseeable future.
Impact of COVID-19 on the Artificial Heart Market
The introduction of COVID-19 has caused a delay in elective treatments, which has hurt the market for cardiovascular devices like artificial hearts. The market for mechanical hearts was severely impacted since only life-threatening procedures were permitted, and the majority of cardiac treatments had to be postponed or cancelled because resources had to be diverted to help patients afflicted by COVID-19. Therefore, the was considerably harmed as a result of the limits imposed by COVID-19. However, the need for artificial hearts is anticipated to expand as a result of the rise in cardiac procedures. For the anticipated term, it is anticipated that growing need for networking and automation, demand for smart healthcare infrastructure, robotics in healthcare applications, and sensor-based devices would provide enormous potential for the Artificial Heart Market. The worldwide market, however, confronts difficulties since a sizable portion of the world’s population, mostly in emerging nations, has yet to obtain these. There is a need for mass production of artificial hearts because to the rise in heart attacks, unhealthy eating habits, and accidents across the world, including a growing population.
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By Product Type:
- Heart-Lung Machine
- Mechanical Heart
- Total Artificial Hearts
- Ventricular Assist Devices
- Batch-Release Testing Services
- Bioanalytical Testing Services
- Environmental Monitoring Services
- Method Development
- Microbial Testing Services
- Physical Characterization Services
- Raw Material Testing Services
- Stability Testing
- Validation Services
By Power Source:
- Internal Battery
- External Battery
By End User:
- Contract Research Organizations
- Hospitals and Clinics
- Medical Device Companies
- Pharmaceutical and Biopharmaceutical Companies
- Specialty Centers
- Middle East & Africa
- North America
- South America
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Artificial Heart Market Key Players:
The Artificial Heart Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as: Abbott, AbioMed, BiVACOR Inc., Boston Scientific Corporation, CARMAT, Cirtec Medical Systems, Cleveland Heart, CryoLife, Inc., Edwards Lifesciences Corporation, Jarvik Heart, Inc., Medical Technology Est. and Medical Circle, MyLVAD, SynCardia Systems, LLC, Thoratec Corporation.
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SPER Market Research