June 10, 2021
According to the research report titled ‘Total Artificial Heart Market Insights, Competitive Landscape and Market Forecast-2026’, available with Market Study Report LLC, global total artificial heart market is expected to register substantial growth through 2026.
Rising elderly population and technological breakthroughs are some of the primary growth stimulants for global total artificial heart market. For those unaware, total artificial hearts are utilized to help patients with heart failure to live normal lives.
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Usually, the product is surgically inserted in the chest when the actual heart starts failing. Total artificial heart is also known to help people survive when the biological heart is removed or replaced entirely before their respective transplant date.
Such artificial heart could be used for temporary purposes and removed if the actual heart begins working properly. The product can also completely replace a heart if the damage is quite severe. Thus, increased pervasiveness of cardiac diseases has impelled the demand for total artificial hearts, thereby contributing towards the overall industry dynamics.
Apart from this, rising cognizance regarding the benefits of the product are contributing towards the popularity of total artificial hearts, which in turn is facilitating the business scenario. Lack of adequate reimbursement policies, high cost associated with the procedure, and insufficient clinical data may, however, act as a bottleneck to the expansion of global total artificial heart market.
The end-user analysis of this industry vertical consists of specialty centers, hospitals & clinics, and others segments.
Considering the geographical landscape, global total artificial heart industry is divided into the United States, the United Kingdom, Italy, Spain, France, Germany, and Japan.
The competitive terrain of global total artificial heart market is defined by companies such as MyLVAD, Thoratec Corporation, Cirtec Medical Corp., Abbott Laboratories, On-X Life Technologies Inc., Abiomed, Cleveland Heart Inc., CARMAT, BiVACOR Inc., and SynCardia Systems LLC among others.