The Centrifugal Blood Pump Market is experiencing a steady surge, fueled by the growing need for advanced heart failure treatment solutions. A recent market analysis reveals the industry reached a significant milestone in 2023, with a market valuation of US$124.6 million. This robust foundation paves the way for continued expansion, with a projected Compound Annual Growth Rate (CAGR) of 4.0% over the next decade. This translates to an anticipated market value of US$184.5 million by 2033.
The industry’s remarkable expansion is a testament to its tenacity, flexibility, and dedication to adopting cutting-edge technologies. It is projected that 2023 and 2033 will be revolutionary, marked by developments that will completely reshape the centrifugal blood pump market.
Centrifugal pumps have emerged as key players in this industry, showcasing enhanced blood-handling capacity and notable energy efficiency. Their compact size, lower capital investment, and minimal maintenance costs further contribute to their appeal. The escalating preference for centrifugal blood pumps over roller pumps by hospitals and ambulatory surgical centers, owing to their diverse advantages, is poised to fuel substantial market growth in the years to come.
Request a Sample of this Report Using a Work Email To Get a Quick Reply!
https://www.futuremarketinsights.com/reports/sample/REP-GB-6451
Due to the COVID-19 outbreak health care systems are negatively impacted and delivery of medical facilities effectively to all patients has become a huge challenge worldwide. Medical device manufacturers have not escaped the pandemic’s impact. Like pharmaceutical companies, medical device manufacturers rely heavily on healthcare facilities for their clinical trial data collection. COVID-19 in the first few months of 2020 has hurt the Global Centrifugal Blood Pump Industry. The massive global lockdown and the shutting down of economies such as China have halted the demand and supply activities. Despite this, hospitals are likely to remain leading end users owing to the advanced infrastructure and expenditure and the presence of well-trained medical staff and advanced facilities.
Key Takeaways from Centrifugal Blood Pump Market Study
- The growth forecast for the centrifugal blood pumps market remains strong as it is projected to exhibit a 4% CAGR between 2020 and 2030
- U.S. to spearhead growth in North America, accounting for over 90% of centrifugal blood pumps sold
- U.K. will showcase marginal yet steady growth of 2.4% CAGR
- Germany and France will continue exhibiting a steady rise in demand
- JAPAN and Korea to remain strong markets for centrifugal pumps in East Asia
Innovations to Remain Key to Growth
The rising demand for improved cardiac surgery will fuel the demand for centrifugal blood pumps. These pumps have low priming volume and limited contract surfaces, which make their applications ideal for certain conditions. Besides this, companies are increasingly focusing on technological innovations, which has led to the advent of lightweight centrifugal seamless blood pumps with unique spherical thrust bearings.
These pumps also show the least blood trauma during cardiac surgery compared to other pumps available, including roller pumps. Advances in various cardiac assist devices to curb the incidence of adverse healthcare occurrences will continue creating growth prospects for the market.
Key Companies Profiled in the Centrifugal Blood Pump Market:
- Medtronic Plc
- Thoratec Corporation (Abbott)
- Terumo Corporation
- Qura Srl
- Braile Biomedica Ltd.
- LivaNova, PLC
- XENIOS AG (Fresenius Medical Care Company)
- Getinge AB
Why Future Market Insights?
- Comprehensive analysis of evolving purchase patterns across different geographies
- Detailed insights of market segments and sub-segments for historical as well as forecast period
- A competitive analysis of prominent players and emerging players in the keyword market
- Detailed information about the product innovation, mergers, and acquisitions lined up in upcoming years
Request Your Customized Report Now!
https://www.futuremarketinsights.com/customization-available/rep-gb-6451
Centrifugal Blood Pump Market Key Segments:
Motor
- Electronic
- Mechanical
End User
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
