Centrifugal Blood Pumps Market Projected To Be Worth USD 126.7 Million By 2028: Grand View Research Inc.

 Centrifugal Blood Pumps Market Growth & Trends

The global centrifugal blood pumps market size is estimated to reach USD 126.7 million by 2028, registering a CAGR of 5.4% over the forecast period, according to a new report by Grand View Research, Inc. Demand for centrifugal blood pumps is increasing owing to its several advantages such as low maintenance costs, small in size, and less capital investment. Thus, such advantages offered by centrifugal blood pumps are estimated to fuel the market growth during the forecast period.

Growing clinical experience and cardiotomy suction devices have led to a significant increase in usage of mechanical centrifugal blood pumps and to the improvement of outcomes after short and long-term support. As the interventional methods in the cardiovascular field continue to develop and a majority of critically ill patients undergo treatment, the demand for mechanical centrifugal blood pumps is increasing drastically in this field.

Changing lifestyles and an increase in the prevalence of lifestyle-associated diseases are also expected to contribute to market growth. The increasing prevalence of diseases such as diabetes, obesity, and cardiovascular diseases coupled with the rising number of geriatric population are fueling the demand for cardiovascular procedures. Treatment of such diseases involves the use of cardiotomy suction devices, which, in turn, is expected to drive the market over the forecast period.

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Centrifugal Blood Pumps Market Report Highlights

• The electronic segment held the largest revenue share in 2020. High product efficacy is a major factor augmenting segment growth
• The hospitals segment is predicted to grow at the fastest growth rate over the forecast timeframe due to the increasing number of patient visits and advanced infrastructure in hospitals as compared to other healthcare facilities
• North America held the largest revenue share in the market in 2020 and is predicted to maintain its dominance over the forecast period. This is attributable to strong per capita healthcare spending and favorable healthcare policies that have led to the introduction of cardiotomy suction devices

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Centrifugal Blood Pumps Market Segmentation

Grand View Research has segmented the global centrifugal blood pumps market on the basis of type, end use, and region:

Centrifugal Blood Pumps Type Outlook (Revenue, USD Million, 2016 - 2028)

• Electronic
• Mechanical

Centrifugal Blood Pumps End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Hospitals
• Ambulatory Surgical Centers
• Specialty Clinics
• Others

Centrifugal Blood Pumps Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Centrifugal Blood Pumps Market

• Medtronic
• LivaNovaplc
• Qura srl
• Abbott Laboratories
• Terumo Corporation
• Braille Biomedica Ltd.
• Getinge AB
• 3M
• Baxter International

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.