Cardiac assist catheter pumps are used to increase the output of a heart by reducing oxygen consumption, myocardial workload, and simultaneously increasing cardiac output. A study conducted by Atherosclerosis Risk in Communities (ARIC) and Cardiovascular Health Study (CHS) in the U.S. in 2014 revealed that the incidence of sick sinus syndrome (SSS) was 0.8 per 1,000 person-years. It increases with age and is nearly similar in men and women. More than half of the patients with sick sinus syndrome develop tachybrady syndrome i.e., alternating bradycardia and tachycardia. In the U.S., around 30% to 50% patients opting for cardiac implantation show SSS as primary indication. In a 50 months follow-up study of patients with SSS, the mortality rate was found to be 18%. The overall prevalence of first degree atrio-ventricular block in the adult population in the U.S. is 3.7%. Prevalence of atrio-ventricular block is higher in patients with coronary heart diseases.
The global cardiac assist catheter pumps market is primarily driven by increase in incidence of cardiovascular disorders. Additionally, rise in adoption of technologically advanced health care devices, increase in the geriatric population, and advancements in health care are expected to boost the growth of the global cardiac assist catheter pumps market in the next few years. Rise in the geriatric population directly affects the growth and development of cardiac assist catheter pumps. This is primarily because elderly people are highly susceptible to heart diseases such as sick sinus syndrome and atrio-ventricular blockage. Increase in the global population aged above 65 years is a major driver of the cardiac assist catheter pumps market. According to the U.S. Census Board, people older than 65 years represented around 13% of the total population; this percentage is expected to increase to 20% by 2030. Other countries aging at a rapid pace are the U.S., Japan, and Germany. The impact of this driver is expected to remain high during the forecast period as the global geriatric population is constantly rising. However, high cost of cardiac assist catheter pumps and stringent government regulations for the approval of health care devices are expected to restrain the cardiac assist catheter pumps market in the next few years.
The global cardiac assist catheter pumps market can be segmented based on product type, end-user, and region. Based on product type, the market can be bifurcated into right ventricular assisted catheter pumps and left ventricular assisted catheter pumps. In terms of end-user, the global cardiac assist catheter pumps market can be divided into hospitals, ambulatory surgical centers, and others.
In terms of region, the global cardiac assist catheter pumps market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the market in 2017. Factors such as rise in prevalence of cardiac diseases, availability of a large number of health care facilities, and established health care policies drive the cardiac assist catheter pumps market in the region. Asia Pacific and Latin America are likely to be highly lucrative markets for cardiac assist catheter pumps in the near future. The cardiac assist catheter pumps market in these regions is projected to grow at a rapid pace during the forecast period, owing to large population, increase in the number of hospitals, and rise in government investment for the advancement of health care.
Key players operating in the global cardiac assist catheter pumps market include Boston Scientific Corporation, GE Healthcare, Medtronic plc, Terumo Corporation, Johnson & Johnson, Smith & Nephew, Edwards Life Sciences, Cook Medical, Abbott, B. Braun, C. R. Bard, and Teleflex Incorporated.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.