Total Artificial Heart Market is likely to register CAGR of 12.2% through 2032

The global Total Artificial Heart Market was valued at approximately US$ 191.1Mn in 2021, representing a 13.8% year-on-year growth. Total Artificial Heart market sales are expected to grow at a strong 12.2% CAGR by 2032.

A whole artificial heart is a pump that is surgically implanted when performing cardiac surgery. A fully artificial heart is intended to circulate blood and exchange cardiac ventricles. Blood is pumped from the heart's ventricles to the lungs and other organs. Machines outside the body control the implanted pumps, which help blood flow to and from the heart.

The entire artificial heart operates by replacing the heart's lower chambers, known as the ventricles. The entire artificial heart is linked to a power source outside of the human body through tubes. The entire artificial heart then pumps blood to the lungs and the rest of the body via the heart's main artery.

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Advent of Telehealth and Virtual Care to Create Tailwind for the Total Artificial Heart Market Growth

Digitization is making deeper inroads across diverse industries, such as healthcare, owing to the increasing penetration of the internet and smartphones across the world.

During the COVID-19 outbreak, healthcare practitioners and patients realized the importance of digitization and encouraged them to adopt virtual methods of patient examination and consultation to counter the regulations concerning social distancing. This gave rise to a new medical domain, Telehealth.

Since the outbreak, telehealth has gained immense popularity, especially among the geriatric population, owing to the convenience associated with it. Hence, increasing adoption of telehealth across radiology, behavioral health, cardiology, and online consultation is expected to create lucrative opportunities for growth in the Total Artificial Heart market.

Key Total Artificial Heart Market Takeaways and Projections

• The US is estimated to continue dominating the North America market, projecting fastest growth in the region through 2032.
• Germany Total Artificial Heart market is forecast to register robust growth in Europe, accounting for a significant share in the region between 2022 to 2032.
• China is expected to account for the maximum revenue share in the East Asia market, exhibiting the fastest sales growth during the assessment period.
• India is forecast to emerge as a highly remunerative market in South Asia, contributing for the largest sales in the region over the coming 10-years.

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Report Benefits & Key Questions Answered

• Total Artificial Heart Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities, and challenges in the Total Artificial Heart market. It also studies the impact of these dynamics on the market for the previous assessment period 2017 to 2021 to forecast the scope of market growth over the coming forecast period 2022 to 2032.
• Total Artificial Heart Demand-Supply Assessment: The latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Total Artificial Heart market. As per the survey, Total Artificial Heart sales will project steady growth over the forecast period.
• Total Artificial Heart Market Structure Analysis: The report provides detailed information about market the concentration of key players and tier analysis in the Total Artificial Heart market. It also categories market players as per Tier 1, Tier 2, and Tier 3 in terms of their percentage share and product portfolio.
• Total Artificial Heart Market Trend Analysis: FMI’s market trend analysis provide compelling insights into current and upcoming trends in the healthcare industries. It also assists the industry players to identify potential trends to formulate a strategy to take advantage of these existing trends.

Competitive Landscape Analysis

The latest study conducted by FMI provides in-depth insights into the global Total Artificial Heart market to assist management level decision-makers in constructing a strategy to capitalize on the critical trends & opportunities. It also discloses competitive trends and profiles a list of leading players operating in the global Total Artificial Heart market.

Some of the prominent market players are profiled by FMI are:

• BiVACOR Inc.
• CARMAT
• SynCardia Systems, LLC
• ReinHeart TAH GmbH
• ABIOMED
• Abbott
• Cirtec
• LivaNova, Inc.
• Jarvik Heart, Inc.
• CryoLife, Inc

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Key Segmentation

By Product Type:

• SynCardia Systems
• BiVACOR Rotary Total Artificial Heart
• CARMAT
• Others

By End User:

• Hospitals
• Specialty Centers
• Others

Region

• North America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa