The heart pump devices market in Europe is predicted to witness a CAGR of 20.29% from 2022 to 2027, and the market is expected to be worth USD 611.7 million by 2027 from USD 243 million in 2022.
The growing patient population suffering from CVDs across the European region is the primary factor driving the European heart pump devices market growth. Cardiovascular diseases are the leading cause of death in the European region. Patients with cardiovascular problems have a problem with the blood circulatory system, particularly in the heart vessels. As a result, patients choose to have regular check-ups every six months to predict any changes in the heart valves and seek treatment if required. Furthermore, aging causes many changes to happen in the body. An estimated 40% of the aging population suffers from heart-related disorders.
In addition, the increasing waiting period for heart transplantation surgery is boosting regional market growth. Due to the shortage of heart donors, most people who need heart transplant surgery use these heart pump devices for a short time until the donor's heart is available—increasing awareness programs by the organizations and the government about the use of heart pump devices which are used in the period between heart transplantation surgeries support the growth of the market.
Furthermore, the growing adoption of heart pump devices to treat heart disease is promoting the growth rate of the European market. Due to various heart problems, manufacturers are focusing on developing devices that help accurately with the diseases. In addition, the manufacturers also focus on building quality devices with a long shelf-life and don’t cause any other side effects for the patients.
However, the high costs associated with heart pump devices are primarily hindering the European market growth. In addition, the high cost of the procedures associated with heart pump devices is hampering the market growth. Furthermore, the other factors that restrain the market growth are severe complications after the transplantation procedure with the heart pump device and the side effect after the procedure.
This research report on the Europe heart pump devices market has been segmented and sub-segmented into the following categories.
By Product:
By Device Type:
By Therapy:
By End-User:
By Country:
The European region had the second largest share of the worldwide market in 2021 and is anticipated to grow at a promising CAGR during the forecast period owing to the growing awareness regarding heart pump devices and research activities for developing novel procedures. Europe-based companies started developing different membrane pump technologies to reduce the complications of the previous heart assistance devices and provide improved care for heart failure patients. In addition, Europe has approved the use of full artificial hearts in patients waiting for heart transplantation, supporting the market.
Germany had the leading share of the European market in 2021 and is expected to have a notable CAGR during the forecast period owing to the growing number of heart failure cases. In addition, due to the increasing population suffering from heart diseases, hospitals are making several changes to their services by adopting advanced infrastructures and advanced medical equipment, which helps increase the success rate of heart-related surgeries and results in market growth.
The UK is another major European regional market and is anticipated to hold a considerable share of the European market during the forecast period. According to a recent survey in the UK, nearly 300 people live with LVAD. Additionally, increasing government product approvals is another factor driving the UK market forward. Due to the increasing adoption of heart pump devices by older people in this region, the government has taken several measures and conducted several clinical trials for approving the devices to decrease the mortality rate after the implantation of the device.
KEY MARKET PLAYERS:
Reliantheart, Terumo, Berlin Heart, Abiomed, Getinge, Syncardia Systems, Teleflex, Jarvik Heart, Cardiacassist, Fresenius Medical Care, Thoratec Corporation, Medtronic, and Abbott Laboratories are a few of the promising players in the European heart pump devices market.
Frequently Asked Questions
During the forecast period, the European heart pump devices market is expected to grow at a CAGR of 20.29%.
Germany led the European heart pump devices market in 2021.
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