Global Artificial Heart Market to Reach USD 6,615.06 Million by 2031, Growing at a CAGR of 13.8%
Category : Healthcare | Published Date : Nov 2024 | Type : Press Release
Artificial Heart Market Scope & Overview:
As per the Consegic Business Intelligence newly published report, the Artificial Heart Market was valued at USD 2,365.76 Million in 2023 and is projected to reach USD 6,615.06 Million by 2031, expanding at a CAGR of 13.8% from 2024 to 2031. Artificial hearts serve as life-saving mechanical devices designed to replace or support the pumping function of a failing heart. The primary products include heart-lung machines, total artificial hearts (TAH), and ventricular assist devices (VADs), which provide both short-term and long-term solutions for patients with severe heart failure.
The report comprises the Artificial Heart Market Share, Size & Industry Analysis, By Product Type (Heart-Lung Machine, Total Artificial Hearts (TAH), Ventricular Assist Devices (VADs)), By End-Use (Hospitals, Ambulatory Surgical Centers), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024–2031.
The report contains detailed information on Artificial Heart Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Rising prevalence of heart failure globally and the shortage of donor hearts are driving significant growth in the artificial heart market. However, high device costs and limited accessibility remain key challenges.
Segmental Analysis :
By Product Type, the market segments include Heart-Lung Machines, Total Artificial Hearts (TAH), and Ventricular Assist Devices (VADs).
- Ventricular Assist Devices (VADs) held the largest market share in 2023, driven by their widespread use as a bridge to heart transplantation or as long-term support for severe heart failure patients.
- Total Artificial Hearts (TAH) are anticipated to register the fastest CAGR, supported by increasing reliability and effectiveness in fully replacing native heart functions, especially in patients with end-stage biventricular heart failure.
By End-Use, the market segments are Hospitals and Ambulatory Surgical Centers.
- Hospitals dominated the end-use segment in 2023, accounting for the highest market share, due to advanced infrastructure and surgical expertise required for artificial heart implantation.
- Ambulatory Surgical Centers are expected to grow at the fastest rate, driven by advancements in minimally invasive techniques and cost-effective patient care.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- North America led the market in 2023, with a market share of 56.45%, attributed to the high prevalence of heart failure and robust healthcare infrastructure.
- Asia-Pacific is forecasted to grow at the highest CAGR of 16.5%, driven by increasing government investments in advanced cardiac technologies and improving healthcare infrastructure.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 6,615.06 Million |
| CAGR (2024-2031) | 13.8% |
| By Product Type | Heart-lung Machine, Total Artificial Hearts (TAH), Ventricular Assist Devices (VADs) |
| By End-Use | Hospitals, Ambulatory Surgical Centers |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape of the Artificial Heart Market includes prominent companies focusing on product innovation, strategic collaborations, and extensive R&D activities. The analysis highlights key industry players, examining their strengths, product portfolios, and growth strategies. This includes detailed profiles and recent activities of major companies.
List of prominent players in the Artificial Heart Industry:
- BiVACOR Inc. (United States)
- SynCardia Systems, LLC (United States)
- Abbott. (United States)
- LivaNova PLC (United Kingdom)
- CARMAT (France)
- Realheart (Sweden)
Recent Industry Developments :
- 2024: BiVACOR Inc. received a grant from Monash University's Artificial Heart Frontiers Program to support clinical trials for its total artificial heart.
- 2024: CARMAT announced the first implant of the Aeson® artificial heart in a patient suffering from a cardiac tumor, achieving a milestone of 50 implants.
- 2023: SynCardia Systems, LLC announced a new patent approval for its next-generation total artificial heart, enhancing the device's design and durability.
