Intra Aortic Balloon Pumps Market - Size, Industry Share, Growth Trends and Forecasts (2023 - 2030)

Intra Aortic Balloon Pumps Market Dynamics - (DRO) :

Key Drivers :

The rising prevalence of coronary artery disease (CAD) is accelerating the market growth

The major benefit associated with the employment of an intra aortic balloon pump (IABP) includes it enhances the blood flow to and from the heart. Further, it reduces the amount of energy the heart has to expend. Thus, the intra aortic balloon pump (IABP) is an ideal solution for the treatment of coronary artery disease (CAD). The increasing prevalence of coronary artery disease (CAD) is accelerating the utilization of intra aortic balloon pumps (IABP).

For illustration, according to the recent statistics published by the Centers for Disease Control and Prevention (CDC), in 2021, approximately 1 out of 20 adults in the age group of 20 or more are suffering from coronary artery disease (CAD) in the United States. Also, the expenses associated with heart disease in the United States were approximately USD 239.9 billion per annum. This cost includes the expenses related to medicines, health care services, devices, and others. Hence, the increasing prevalence of coronary artery disease (CAD) is boosting the deployment of intra aortic balloon pumps (IABP) for efficient treatment, which, in turn, is favoring the market growth.

Increasing adoption of intra aortic balloon pump (IABP)

The intra aortic balloon pump (IABP) supports the heart indirectly by minimizing the afterload and increasing the diastolic aortic pressure, thereby boosting the diastolic blood flow. This process leads to efficient perfusion of the peripheral organ along with improvement in coronary blood flow. As a result, intra-aortic balloon pumps (IABP) are frequently deployed in hospitals for the treatment of heart-related diseases.

For instance, various hospitals in India such as Apollo Hospital Chennai Mumbai, Artemis Hospital, Indraprastha Apollo Hospital, New Delhi, Max Healthcare, BLK Super Speciality Hospital, New Delhi, and others are some of the prominent hospitals that are providing intra aortic balloon pump treatment. These players are actively investing to form strategic collaborations with major intra aortic balloon pump players to increase the product offering in hospitals. Hence, the increasing utilization of intra aortic balloon pumps in hospitals to increase systemic blood flow among patients is fostering market growth.

Key Restraints :

Recall of intra aortic balloon pumps products is restraining the growth of the market

The prominent factors such as the concerns associated with fluid leak, distorted packaging, government interventions, non-sterility, and others are leading to the recall of the intra-aortic balloon pump product range. For instance, in December 2022, Datascope, a party of Getinge, recalled Rescue IABPs and Cardiosave Hybrid IABPs, a range of intra-aortic balloon pumps. The prime reason for the recall of the intra aortic balloon pump was because of the leakage in the balloon. The leakage in ballon can impact the blood entering into intra aortic balloon pump.

Moreover, in December 2021, the U.S. Food and Drug Administration (FDA) recalled intra aortic balloon pump product range manufactured by companies, including Getinge, owing to fluid leak concerns. Thus, due to the above factors international agencies such as FDA are recalling various intra aortic balloon pump products. The recall of intra aortic balloon pump products will impact the revenue growth of various companies, thereby posing a major bottleneck for market growth in the upcoming year.

Future Opportunities :

Booming technological developments related to intra aortic balloon pumps

The major players dealing in the intra aortic balloon pump market are increasingly leveraging their technological potential for the development of a new range of intra aortic balloon pumps to increase their product offerings in the market. As a result of this, intra aortic balloon pump manufacturers, having their presence at the global level, are continuously investing in the development of new methods with updated technological advancements to ensure the development of new intra aortic balloon pumps to improve blood flow. Thus, the launch of new intra aortic balloon pumps with upgraded technology is creating a lucrative growth opportunity for the growth in the forecast year.

For instance, in December 2021, Terumo Aortic introduced Aortic Balloon. Hence, the increasing new technological developments of intra aortic balloon pumps by various global companies to enhance the blood flow in the heart is a crucial factor amplifying the growth of the global intra aortic balloon pumps market.

Top Key Players & Market Share Insights:

The intra aortic balloon pumps market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-