Mechanical Circulator Support Devices Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

Mechanical Circulator Support Devices Market size is poised to grow considerably from 2023 to 2032, with the growing inclination towards adopting technologically advanced medical devices for cardiovascular disorders. The expanding geriatric population prone to several heart disorders will propel the demand for mechanical circulator support devices, favoring market expansion over the foreseeable future.
 

A mechanical circulatory support device is equipment that helps facilitate the proper functioning of the heart and helps treat patients with end-stage heart failure. They replace certain mechanical functions of the failing heart to enhance organ perfusion and cardiac output.
 

As the global inflation levels reach an all-time high, people across the globe have been tightening their budgets while many of them cut their expenditures on health and medical services. A June 2022 survey carried out by West Health and Gallup reveals that in the initial six months, high healthcare costs pushed around 100 million or 38% of American adults to skip or delay treatment and cut back on utilities and food or borrow capital to pay medical bills. The current situation depicts a decline in the number of people undergoing treatment for several health issues and a significant transformation in consumer buying behavior, which may impede the industry growth over the next ten years.
 

With regard to the product, mechanical circulator support devices market from the extracorporeal membrane oxygenation system segment is estimated to record substantial progress over the forecast period. This can be attributed to the rising development  for these systems as they help maintain the supply of oxygen in the body while offering support for reversible heart disorders. According to the British Heart Foundation statistics, around 7.6 million people in the U.K. are living with circulatory or heart disease. Therefore, the increasing incidences of heart disease will fuel the product landscape further over the upcoming years. 
 

In terms of end-user, the ambulatory surgical centers segment is expected to exhibit appreciable rise by 2032 with the growing patient preference for these healthcare settings. The deployment of innovative medical equipment, improved patient outcomes, and cost-effectiveness are the major factors driving the progression for mechanical circulator support devices across ASCs. Besides, faster recovery time and lesser rate of infection are also stimulating the patient preference for ambulatory surgical centers, which will positively influence the segmental outlook over the subsequent years.
 

Regionally, the North America mechanical circulator support devices market is anticipated to witness strong gains through 2032. This can be largely credited to the rising product value  driven by the growing pervasiveness of heart diseases in the region. According to the Centers for Disease Control and Prevention (CDC), annually, around 659,000 people in the U.S. die from heart disease. Besides, the rising incidences of diabetes in the region will further instigate product demand to a greater extent. As per the CDC’s latest National Diabetes Statistics report, around 37.3 million, or 11.3% of people in America, have diabetes.
 

The major companies active in the mechanical circulator support devices market include Abbott Laboratories, Cardiobridge GmbH, Boston Scientific Corporation, Getinge AB (Electrolux), Medtronic plc, LivaNova PLC, Terumo Corporation, Koninklijke Philips N.V.
 

What Information does this report contain?