An intra-aortic balloon pump (IABP) is a device used in cardiology to provide temporary mechanical circulatory support for patients with heart failure or other conditions that reduce cardiac output. The IABP consists of a balloon catheter that is inserted through the femoral artery into the aorta and a console that controls the inflation and deflation of the balloon. The global intra-aortic balloon pump market is expected to grow significantly in the coming years due to the increasing prevalence of cardiovascular diseases and the growing demand for minimally invasive procedures.
Market Size and Growth:
The global intra-aortic balloon pump market is estimated to grow from nearly US$ 361 Mn in 2017 to nearly US$ 472 Mn by 2027 end. This represents a CAGR of 2.7% over the forecast period of 2017–2027. The global market for intra-aortic balloon pump represents absolute dollar opportunity of US$ 10.9 Mn in 2018 over 2017 and incremental opportunity of US$ 111 Mn between 2017 and 2027.
Factors Driving the Market:
The increasing prevalence of cardiovascular diseases is one of the key factors driving the market growth. According to the World Health Organization, cardiovascular diseases are the leading cause of death worldwide, and an estimated 17.9 million people die from these diseases every year.
In addition, the growing demand for minimally invasive procedures is driving the market growth. IABPs are considered a minimally invasive alternative to more invasive surgical procedures and are associated with shorter hospital stays, lower costs, and faster recovery times.
Product Type:
The intra-aortic balloon pump market is segmented into helium-based IABPs and nitrous oxide-based IABPs. The helium-based IABPs segment is expected to hold the largest share of the market in 2020, due to their higher efficiency and faster response times compared to nitrous oxide-based IABPs.
Application:
The market is segmented into cardiac surgery, percutaneous coronary intervention (PCI), and others. The cardiac surgery segment is expected to hold the largest share of the market in 2020, due to the increasing number of cardiac surgeries being performed worldwide.
Regional Analysis:
North America is expected to hold the largest share of the intra-aortic balloon pump market in 2020, followed by Europe. The presence of major market players, increasing prevalence of cardiovascular diseases, and growing demand for minimally invasive procedures are driving the growth of the market in these regions. Asia Pacific is expected to be the fastest-growing region in the market due to the increasing healthcare expenditure, growing geriatric population, and rising prevalence of cardiovascular diseases.
Key Players:
The major players operating in the global intra-aortic balloon pump market include Maquet Holding B.V. & Co. KG, Teleflex Incorporated, Getinge AB, Ikaria Holdings, Inc., Arrow International, Inc., ZOLL Medical Corporation, Datascope Corp., LivaNova PLC, SynCardia Systems, LLC, and CardiacAssist, Inc.
Conclusion:
The global intra-aortic balloon pump market is expected to grow significantly in the coming years due to the increasing prevalence of cardiovascular diseases and the growing demand for minimally invasive procedures. The helium-based IABPs segment is expected to hold the largest share of the market in 2020, and the cardiac surgery segment is expected to be the largest application segment. North America is expected to hold the largest share of the market in 2020, followed by Europe. The major players operating in the market are Maquet Holding B.V. & Co. KG, Teleflex Incorporated, Getinge AB, Ikaria Holdings, Inc., Arrow International, Inc., ZOLL Medical Corporation, Datascope Corp., LivaNova PLC, SynCardia Systems, LLC, and CardiacAssist, Inc.