The cardiac assist devices market in Europe is estimated at USD 549.68 Million in 2023 and is poised to reach USD 834.94 Million by 2028, growing at a CAGR of 8.72% during the forecast period.
Growing prevalence of heart related diseases, increasing aging population across the Europe, and technology advancements are primarily driving the European cardiac assist devices market. The on-going advancements in this field and as well as new applications of emerging treatments are expected to fuel to the market growth. Sound knowledge levels relevant to the cardiac assist devices and high amount spent on healthcare may foster the growth of the market. Increasing demand for shared care centers, shortage of heart donors and growing patient’s waiting list for heart transplantation and rising patient’s pool with heart failures is likely to surge the market growth during the assessment period.
High costs associated with the devices and low per capita income may hamper the cardiac assist devices market growth to some extent. Availability of substitute treatments, and the threats considered with the device implantations which may cause risks like kidney failure, blood clots, bleeding and also device failure are expected to dampen the market growth during the forecast period. Lack of awareness among the patients particularly those living in rural areas, shortage of skilled and experienced professionals required during the treatment for those patients who are in need of heart transplantations which may obstruct the market growth.
This research report on the Europe Cardiac Assist Devices Market has been segmented and sub-segmented into the following categories:
The Europe region accounts to about 16% of the Global Cardiac Assist Devices Market. Europe is expected to be the second largest region followed by North America in the cardiac assist devices market during the analysis period as in EU countries, the cardiovascular diseases which causes 3.9million deaths and around 1.8 million deaths. Countries like Germany, UK and France are contributing for major share in the region due to high investments and funds for better research and development activities. This region accounts for 16% of the global cardiac assist devices market.
In UK, nearly 60,000 new cases of chronic heart failure advanced were diagnosed every year of which 40% are prone to death every year.
Germany and France are expected to have considerable growth and is projected to grow with highest CAGR in the cardiac assist devices market in this region.
Top companies in the Europe Cardiac Assist Devices Market are Thoratec Corporation, MAQUET GmbH & Co, Teleflex Incorporated, Berlin Heart GmbH, Abiomed, Inc., HeartWare International, SynCardia Systems, Inc., Jarvik Heart, Inc., and Terumo Corporation. Braile Biomedica Ltd., CardiacAssist, Inc., CardioBridge GmbH, Carmat SAS, Cleveland Heart, Inc., CorAssist Cardiovascular Ltd., Evaheart Medical USA, Inc., Leviticus Cardio Ltd., MyoCardioCare, Inc are the leading market players with dominance over 60% of the market.
Thoratec Corporation and Berlin Heart are the prominent players in the VAD segment whereas Teleflex and MAQUET are dominant players in the Intra-Aortic Balloon Pumps (IABP) segment. SynCardia is the foremost company to provide the only Food and Drug Administration (FDA) approved Total Artificial Heart (TAH).
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