The global market for cardiogenic shock treatment is experiencing significant growth due to a range of factors, including increasing incidence of heart disease, growing adoption of mechanical support devices, and technological advancements in medical devices and therapies. A report published by Future Market Insights predicts that the market will grow at a compound annual growth rate (CAGR) of 7% from 2023 to 2033, reaching a value of US$ 1.77 Billion by the end of the forecast period.
One of the key drivers of market growth is the increasing incidence of heart disease worldwide. According to the World Health Organization, cardiovascular disease is the leading cause of death globally, accounting for 31% of all deaths. The growing prevalence of heart disease is contributing to a rising demand for effective treatment options for cardiogenic shock.
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Another factor driving market growth is the increasing adoption of mechanical support devices such as Impella, ECMO, and IABPs. These devices provide mechanical support to the heart and help to restore blood flow and oxygen to the body’s organs. They have been shown to significantly improve survival rates and outcomes for patients with cardiogenic shock.
In addition to mechanical support devices, there are also several other medical devices and therapies that are being developed and tested for the treatment of cardiogenic shock, including extracorporeal carbon dioxide removal (ECCO2R) devices, microaxial flow pumps, and novel ventricular assist devices (VADs). These technologies have the potential to further improve outcomes for patients with cardiogenic shock and are expected to drive growth in the market.
Key Takeaways from the Market Study
- From 2018 to 2022, the Cardiogenic Shock Therapies market increased at a CAGR of 3.5%.
- From 2023 to 2033, the market for cardiogenic shock treatments is projected to expand at a 7% CAGR.
- The market for treatments for cardiogenic shock is anticipated to reach US$ 1.77 billion by 2033.
- The hospital sector holds the biggest market share, per the FMI research.
- For Cardiogenic Shock Therapies, North America is predicted to have a 40% market share.
- With a share of 20% throughout the projection period, it is expected that the East & South Asia market would grow considerably.
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“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering Cardiogenic Shock Treatments.” says an FMI analyst
Market Competition
Key players in the market include companies such as Getinge AB, Par Pharmaceutical, Abbott, Viatris Inc., F. Hoffmann-La Roche Ltd, Bayer AG, Terumo Corporation, Medtronic, AbioMed, Astrazeneca along with healthcare providers and technology companies among other global players.
- In October 2022, the American Heart Association established the Cardiogenic Shock Registry, powered by Get With The Guidelines®, to provide a foundation for researchers, clinicians, and regulators to better understand the clinical symptoms, treatment patterns, and outcomes of different types of shock. The registry builds on over two decades of experience with the Get With The Guidelines® platform and will inform the medical community on how to best treat cardiogenic shock. The steering committee of the registry includes experts from leading academic surgeons and cardiologists, as well as representatives from the U.S. Food & Drug Administration and the U.S. Centers for Medicare & Medicaid Services, who provide guidance on establishing and managing the data in the registry.
More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global Cardiogenic Shock Treatments market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights on the basis of Treatment Type, End-User & Region.
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Key Segments Profiled in the Cardiogenic Shock Treatment Industry Survey
Treatment Type:
- In-Vitro Test Kits
- Drugs
- Devices
End- User:
- Cardiac Catheterization Labs
- Hospitals
- Ambulatory Surgical Centres
About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 9-years.
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