PUBLISHER: Grand View Research | PRODUCT CODE: 1493213
PUBLISHER: Grand View Research | PRODUCT CODE: 1493213
The global heart pump device market size is expected to reach USD 6.44 billion by 2030, expanding at 13.5% CAGR from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing prevalence of coronary artery disease, ischemic heart disease, and other CVD diseases is anticipated to boost the demand for heart pump devices. For instance, according to data published by British Heart Foundation, in 2022, about 7.6 million individuals in the UK live with heart disease, and each year, around 160,000 people die from CVD and other heart-related conditions in the UK. Moreover, according to WHO data in 2020, coronary heart disease caused 163,905 deaths in Japan, with 121,823 or 11.03% of total deaths were caused due to stroke.
Furthermore, the market is anticipated to grow by increasing support and awareness initiatives for disease awareness. For instance, in January 2022, The School of Medical Research and Technology at IIT Kanpur launched Hridyantra, a challenge-based program. Its objective is to create an advanced artificial heart called a Left Ventricular Assist Device (LVAD) for patients with end-stage heart failure (HF). Hridyantra aims to improve the available treatment options for HF patients. This program is expected to significantly improve the treatment options available for patients with HF, thereby driving market growth.