Global Heart Pump Device Market: Key Highlights
Global Heart Pump Device Market: Key Market Dynamics
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Global Heart Pump Device Market: Regional Overview
North America is anticipated to be the largets-growing heart pump device market during the forecasted period. This has attributed to the rising prevalence of cardiovascular diseases and rising elderly population. According to the Center for Disease Control and Prevention (CDC), 30.3 million adults were diagnosed with heart disease in 2019. Additionally, factors such as increasing government initiatives, funding for research and development in advanced medical treatment options, and rising demand for technologically advanced treatments are likely to enhance the growth of heart pump device market in the region.
Europe is anticipated to witness the fastest growth in the heat pump device market during the forecasted period due to the availability of advanced treatment facilities and healthcare expenditure. According to the European Heart Network, cardiovascular disease accounted for 45% of all deaths in Europe in 2017. Furthermore, the increasing prevalence of cardiovascular disorders, along with the rising elder population eventually increasing the patient population is supporting the growth of the heart pump devices market
Global Heart Pump Device Market: Key Players Overview
Medtronic is an Irish-based company engaged in manufacturing of medical devices. The company operates through four business segments including the Cardiac and Vascular Group (CVG), the Restorative Therapies Group (RTG), the Diabetes Group and the Minimally Invasive Therapies Group (MITG). Medtronic has 76 manufacturing sites and has its presence in more than 150 countries. The company has more than 47,000 patents registered in its portfolio. In October 2019, Medtronic received FDA’s approval for a new implantable heart pump.
Abbott is a US-based company engaged in manufacturing a multifunctional medical device. The company operates through nutrition, medical device, diagnosis, and pharmaceutical business segments. Abbott offered more than 600 products such as cardiovascular, diabetes, diagnosis, neuromodulation, nutrition, and pharmaceuticals across the globe. The company has a strong sales and distribution network and geographical presence in more than 150 countries.
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