Centrifugal Blood Pumps Market Regional Analysis:
North America Market Statistics
North America industry is set to hold largest revenue share of 43.1% by 2035. It has been influenced by technological advancement and the occurrence of cardiovascular diseases. This region has a well-established health infrastructure with strong investment in research and development, which supports the introduction of new-age devices. Regulatory support on the part of organizations such as the FDA also plays an important role in speeding up the approvals of products, which in turn is helping market growth.
Throughout the forecast period, the market in the U.S. is anticipated to grow substantially. In addition, it is evolving due to increasing technological progress and the rising number of heart surgeries. For instance, in August 2023, news published by the National Library of Medicine stated that the U.S. performed about 400,000 coronary artery bypass grafting (CABG) surgeries yearly. This reflects the high prevalence of cardiovascular diseases in the country.
Canada is witnessing a noteworthy growth in the centrifugal blood pumps market attributable to innovations and advancements in cardiac support and artificial circulations. In addition, the companies are focusing on miniaturization and integration of sensors in bringing efficacy into monitoring operations. For instance, in January 2020, Synaptive Medical developed an innovative imaging and surgical tool, Modus V to enhance miniaturization in surgical precision and assist in delivering better patient care.
Asia Pacific Market Analysis
The Asia Pacific is establishing itself as an opportunistic centrifugal blood pumps market, driven by growing healthcare expenditure along with a general rise in the awareness of advanced medical technologies. In addition, the medical tourism sector is booming, and this market would expand further with demand from cross-border patients for sophisticated surgical procedures. There are strategic local manufacturers which tend to join hands with overseas firms also in advancing and offering new centrifugal blood pumps for better distribution.
India's government programs in the centrifugal blood pumps market aim to improve the healthcare infrastructure which made cardiac care technologies more accessible in urban and rural areas. Through its MedTech programs that gained significance over the years, the local government continue to promote innovation in cardiac care. For instance, in August 2024 a news published by the National Library of Medicine stated that PubMed Central developed a pediatric total artificial heart (TAH). It flows continuously with magnetic levitation. A single, small housing design supports a centrifugal blood pump in the hybrid TAH design.
The centrifugal blood pumps market in China is anticipated to expand significantly, attributable to the strong presence of healthcare companies and their endeavor in continuous innovation. For instance, in October 2021, Jiangsu STMed Technology Co. Ltd. developed a new centrifugal blood pump called the STM CP-24 I ECMO, specifically designed for the OASSIST ECMO system. This system has a separate control console centrifugal pump driver that can record pertinent parameters in real-time and combines the capabilities of flow signal sensing and processing.
