Centrifugal Blood Pumps Market Size, Share & Trends Analysis Report By Type (Electronic, Mechanical), By End Use (Hospitals, ASCs, Specialty Clinics), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global centrifugal blood pumps market size was valued at USD 63.0 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.4% from 2021 to 2028. Market participants are progressively focusing on developing advanced centrifugal blood pumps to meet the demands of healthcare professionals is the factor expected to augment market growth. The increasing prevalence of cardiac disorders along with steadily growing indications for heart transplantation is anticipated to accelerate the demand for centrifugal blood pumps. An increasing number of cardiovascular complications in COVID-19 recovered patients is expected to boost the demand for blood pumps in upcoming years.

Mechanical cardiac assist devices such as centrifugal blood pumps have achieved widespread acceptance for the treatment of cardiac insufficiency. Their prime task is to maintain blood circulation and provide sufficient oxygen supply to body tissue and organs if the natural heart is failing. Cardiac fibrillation or cardiogenic shock requires efficient means of cardiac support. For such purposes, continuous centrifugal blood pumps are used. Rising cases of cardiac-related disorders including cardiac fibrillation are expected to favor the market growth. As per the CDC, coronary heart disease is among the most common type of heart disease, and around 365,914 people died in 2017 due to this. Also, as per the WHO, about 17.9 million people die of cardiovascular disorders each year. Hence, the increasing prevalence of cardiovascular diseases globally is anticipated to boost the market growth.

Several manufacturers are focusing on developing technologically advanced centrifugal blood pumps to maintain a strong market presence. Companies are modifying their product indications for COVID-19 treatment. For instance, In June 2020, Medtronic made artificial lung therapy for COVID-19 affected patients. As per new FDA guidance, Medtronic’s Affinity centrifugal blood pumps can be used for more than 6 hours in the ECMO circuit to treat people having cardiopulmonary failure during the COVID-19 pandemic.

Centrifugal pumps offer the advantage of decreased trauma to red blood cells and a less pronounced systemic inflammatory response compared with roller pumps. Centrifugal pumps and roller pumps are used in ECLS. Both techniques have theoretical advantages in terms of biocompatibility and complications. Roller pumps may induce high arterial pressure levels, leading to negative venous pressure levels and disruption of connections with the risk of endothelial damage in cannulated veins. These complications highlight the need for thorough pressure monitoring and regulation. Centrifugal pumps act through a spinning rotor to generate blood flow. This technique avoids high pressures in the case of distal circuit occlusion, fostering the market growth.

Type Insights

The electronic segment accounted for the largest revenue share of 73.5% in 2020. Electronic centrifugal blood pumps offer advantages such as energy conservation and process optimization that permit centrifugal blood pump systems to reduce the expense of cardiopulmonary bypass surgeries. Electronic centrifugal blood pumps offer the advantage of less pronounced systemic inflammatory response and decreased trauma to red blood cells compared to roller pumps, enhancing segment growth.

The mechanical segment is expected to expand at a CAGR of 4.3% over the forecast period. Mechanical centrifugal blood pumps are widely used in circulatory assist procedures and conventional adult cardiopulmonary bypass procedures, fostering segment growth. However, due to technological advancements demand mechanical centrifugal pumps increases, thereby limiting the demand for mechanical centrifugal pumps.

End-use Insights

The hospitals segment dominated the market and captured the highest revenue share of 38.2% in 2020. The presence of advanced healthcare facilities and a skilled workforce providing a superior and wide range of cardiac treatment is expected to fuel the segmental growth. An increasing number of patient admissions in hospitals suffering from cardiac disorders is also anticipated to fuel market growth.

Growing awareness of ambulatory care centers especially in the U.S., Europe, and SEA countries are expected to fuel the growth of the ambulatory surgery centers segment. The segment is expected to grow fast during the forecast period. The segment is inclusive of ambulatory surgery, ambulatory care for patients, and organ transport systems. Rising investments for expanding ASC business and supporting reimbursement policies are expected to boost segment growth from 2021 to 2028.

Regional Insights

North America dominated the market and accounted for the largest revenue share of 39.9% in 2020. Rising R&D expenditure, increasing prevalence of cardiovascular disorders, and rising initiatives by key market players in developing advanced centrifugal blood pumps in the U.S. and Canada are factors that contributed to North America’s leading market share in 2020. The presence of technologically advanced healthcare infrastructure is predicted to foster the number of treatments leading to surged demand for centrifugal pumps. The increasing occurrence of cardiovascular disorders across the U.S. and Canada is anticipated to create demand for centrifugal blood pumps for ECMO, ventricular assistance, and cardiopulmonary bypass.

In Asia Pacific, the centrifugal blood pumps market is projected to grow at the fastest rate of 6.2% during the forecast period. The rising focus on making advanced treatment accessible and improvements in healthcare policies in emerging countries such as India and Japan are anticipated to fuel the regional growth. Emerging economies are experiencing a rising number of advanced interventional cardiac procedures, leading to a surging adoption rate of centrifugal blood pumps. Additionally, the rising adoption of cardiac assist devices for cardiopulmonary bypass is estimated to accelerate regional growth.

In Europe, the market is expected to witness a lucrative growth rate of 4.9% during the forecast period. Improved healthcare infrastructure services and a rising number of research activities specifically for cardiovascular disorders are expected to contribute to the region’s market growth. An increasing number of products receiving CE approval is expected to drive the market demand among hospitals, ambulatory surgical centers, and others. For instance, in December 2019, QuraSrl’s Quantum centrifugal blood pump received CE approval.

Key Companies & Market Share Insights

Product launch, regulatory product approvals, strategic acquisitions, and innovation are major strategies adopted by the market players to retain their market share. Some of the prominent players in the centrifugal blood pumps market include:

• Medtronic

• LivaNovaplc

• Qura srl

• Abbott Laboratories

• Terumo Corporation

• Braille Biomedica Ltd.

• Getinge AB

• 3M

• Baxter International

Centrifugal Blood Pumps Market Report Scope

Segments Covered in the Report 

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global centrifugal blood pumps market report on the basis of type, end use, and region:

• Type Outlook (Revenue, USD Million, 2016 - 2028)

  • Electronic

  • Mechanical

• End-use Outlook (Revenue, USD Million, 2016 - 2028)

  • Hospitals

  • Ambulatory Surgical Centers

  • Specialty Clinics

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • 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