Artificial Heart Market 2024-2028: Size and High cost of artificial hearts; growth driven by the Product, Some of key Companies Positioned Strategically

The artificial heart market size by Product (VAD and TAH) and Geography (North America, Europe, Asia, and Rest of World (ROW)), is forecast to increase by USD 1831.5 million. The market is expected to grow at a CAGR of   11.64% between 2024 and 2028.

• The high cost of Ventricular Assist Devices (VADs) and Total Artificial Hearts (TAHs) is a significant barrier to their widespread adoption in both developed and developing countries. The expense of a VAD can range from USD100,000 to USD200,000, depending on the specific model and location. A TAH transplant carries a price tag of approximately USD125,000 to USD150,000, with annual maintenance costs of around USD18,000. Procedural costs for artificial hearts can vary greatly, influenced by factors such as the complexity of the surgery, the expertise of the surgeon, complications, hospital fees, diagnostic tests, insurance coverage, and necessary medications. Additionally, end-users are responsible for ongoing maintenance expenses, post-operative device adjustments, and battery replacements.
• The Artificial Heart Market represents a significant business opportunity for manufacturers and suppliers due to the increasing prevalence of heart diseases and advancements in medical technology. This market is driven by factors such as an aging population, rising healthcare expenditures, and technological innovations. Key players in this market include Thoratec Corporation, SynCardia Systems, and Abiomed, Inc. These companies are investing heavily in research and development to produce more efficient and cost-effective solutions for artificial hearts. The global market for artificial hearts is projected to grow at a steady rate in the coming years, offering lucrative prospects for businesses in this sector.

Access the full report to know who are the other key countries segment-wise forecast and historic data

Some of the Key Companies:

• Abbott Laboratories
• Berlin Heart GmbH
• BiVACOR Inc.
• Boston Scientific Corp.
• Calon Cardio Technology Ltd.
• CARMAT SA
• Corcym Srl
• CorWave SA
• Cryolife Inc.
• Edwards Lifesciences Corp.
• Evaheart Inc.
• Jarvik Heart Inc.
• JenaValve Technology Inc.
• Johnson and Johnson Services Inc.
• LivaNova PLC
• Medtronic Plc
• MyLVAD Foundation LTD.
• Quest Diagnostics Inc.
• SynCardia Systems LLC
• Terumo Corp.

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Jesse Maida
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