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Intra-aortic balloon pump is a therapeutic device which helps heart to pump more blood if it is unable to pump it enough for the body parts. The pump consists of a thin, flexible tube called catheter. One end of the catheter is attached to the balloon and the other end is attached to a computer console. This console has a mechanism for inflating and deflating the balloon at the proper time when the heart beats. Rising prevalence of heart defects, growing geriatric population, and a number of technological advancements and innovations in these pumps are some of the factors that are contributing in driving the global market growth during the foreacst period. For instance, according to World Health Organization, there are about 32.4 million myocardial infarctions and strokes worldwide every year.
The intra-aortic balloon pumps market is expected to register a significant growth during the forecast period due to factors such rising prevalence of heart defects, growing geriatric population, and a number of technological advancements and innovations in these pumps. However, high cost of intra-aortic balloon pump is one of the major factors likely to hamper the growth of intra-aortic balloon pumps market.
Key Market Driver -
Rising prevalence of heart defects, technological advancements of the pumps
Key Market Restraint -
High cost of the device
Globally, the intra-aortic balloon pumps market can be segmented on the basis of the indication, end user and region. Based on the indication, the market can be segmented into unstable angina, myocardial infarction, chronic heart failure, cardiogenic shock, and other heart defects. Based on end user, the market can be segmented into hospitals, cardiac care centers, and others. Geographically, the intra-aortic balloon pumps market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Some of the major companies that are present in the intra-aortic balloon pumps market are Teleflex Incorporated, ABIOMED, Boston Scientific Corporation, Getinge AB., ZEON CORPORATION, MERA, and other prominent players.
Geographically, the intra-aortic balloon pumps market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is anticipated to lead the intra-aortic balloon pumps market. The growth is ascribable to the factors such as growing prevalence of heart defects, high adoption of technological advanced products, and strong pricing of this product in the region. For instance, according to American Academy of Family Physicians, in U.S., acute coronary syndrome accounts for more than 1.4 million hospital admissions per year. The second leading market is European market. The key factors driving the growth of this region are growing geriatric population and frequent product launches by the key players. The market in Asia Pacific is expected to grow fast with the highest CAGR. Rising patient pool of heart disorders and growing awareness among the patients are likely to augment the market expansion in this region.
The market in Latin America and the Middle East & Africa is projected to experience slower growth due to unmet needs of healthcare and low awareness among the population
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