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Intra-Aortic Balloon Pump (IABP) Market Analysis Overview :
An Intra-Aortic Balloon Pump (IABP) is a temporary circulatory assist device that supports the heart’s pumping function. It is used to treat patients with severe heart failure or cardiogenic shock. The device works by inflating and deflating a balloon within the aorta, thereby increasing blood flow to the heart and reducing its workload.
The intra-aortic balloon pump is a category of therapeutic device that enables the patient’s heart to pump an adequate amount of blood. The primary benefit of an intra-aortic balloon pump (IABP) is it enables blood to flow more efficiently into the coronary arteries.
Key Market :
- The IABP market is primarily driven by the increasing prevalence of cardiovascular diseases such as heart failure and myocardial infarction. The device is particularly useful in situations where patients are awaiting heart transplantation or other advanced cardiac therapies.
- The major benefit associated with the employment of an intra aortic balloon pump (IABP) includes it enhances the blood flow to and from the heart.
- the intra aortic balloon pump (IABP) is an ideal solution for the treatment of coronary artery disease (CAD). The increasing prevalence of coronary artery disease (CAD) is accelerating the utilization of intra aortic balloon pumps (IABP).
- the Centers for Disease Control and Prevention (CDC), in 2021, approximately 1 out of 20 adults in the age group of 20 or more are suffering from coronary artery disease (CAD) in the United States. Also, the expenses associated with heart disease in the United States were approximately USD 239.9 billion per annum
Restraints :
Several factors can restrain the growth of the IABP market:
- High Cost: IABPs and their associated procedures can be costly, limiting their accessibility in certain regions.
- Complex Procedure: The implantation of an IABP requires specialized expertise and advanced medical facilities.
- Potential Complications: Like any medical device, IABPs can have potential complications, such as bleeding, infection, and aortic dissection.
- The prominent factors such as the concerns associated with fluid leak, distorted packaging, government interventions, non-sterility, and others are leading to the recall of the intra-aortic balloon pump product range.
- The prime reason for the recall of the intra aortic balloon pump was because of the leakage in the balloon. The leakage in ballon can impact the blood entering into intra aortic balloon pump.
- The recall of intra aortic balloon pump products will impact the revenue growth of various companies, thereby posing a major bottleneck for market growth in the upcoming year.
Opportunities :
Despite the challenges, the IABP market presents several significant opportunities:
- Growing Geriatric Population: The aging population is more susceptible to cardiovascular diseases, increasing the demand for IABPs.
- Technological Advancements: Advances in IABP technology, such as smaller, more efficient devices, can expand their application and reduce complications.
- Emerging Markets: The growing healthcare infrastructure in emerging economies offers new opportunities for IABP adoption.
- The major players dealing in the intra aortic balloon pump market are increasingly leveraging their technological potential for the development of a new range of intra aortic balloon pumps to increase their product offerings in the market.
- intra aortic balloon pump manufacturers, having their presence at the global level, are continuously investing in the development of new methods with updated technological advancements to ensure the development of new intra aortic balloon pumps to improve blood flow.
Key Players :
Several key players dominate the global IABP market:
- Medtronic
- LeMaitre Vascular
- LivaNova
- Getinge
Segmentation :
The IABP market can be segmented based on various factors:
- Product Type: Disposable and reusable IABPs
- End-User: Hospitals, Cardiac Centers
- Region: North America, Europe, Asia-Pacific, and Rest of the World
Regional Analysis :
The IABP market is global, with significant presence in various regions:
- North America: A major market, driven by advanced healthcare infrastructure and a high prevalence of cardiovascular diseases.
- Europe: A significant market, with a focus on innovative medical technologies.
- Asia-Pacific: A rapidly growing market, driven by increasing healthcare expenditure and rising incidence of cardiovascular diseases.
- The indication segment is categorized into coronary artery diseases and chronic heart failure. In 2022, the coronary artery diseases segment accounted for the highest market share in the intra aortic balloon pumps market.
- The key features related to intra aortic balloon pump (IABP) include superior clinical support, designed and engineered for economy & simplicity, easy-to-connect horizontal ports, and others. These prominent features enable the intra aortic balloon pump to keep pace with the blood flow to the heart.
- This leads to efficient blood flow in the heart. As a result, intra aortic balloon pumps (IABP) are utilized across hospitals for high risk percutaneous coronary intervention (PCI). For instance, as of June 2023, various hospitals at the global level, including the American Hospital of Paris, France, Johns Hopkins Hospital, United States, and others are some of the prominent hospitals that are providing intra aortic balloon pump (IABP) treatments
Recent Developments :
The IABP market is constantly evolving, with several recent developments:
- Product Innovations: Key players are focusing on developing advanced IABP systems with improved features and reduced complications.
- Clinical Trials: Ongoing clinical trials are evaluating the effectiveness of IABPs in various clinical scenarios.
- Regulatory Approvals: Regulatory approvals for new IABP devices and indications are driving market growth.
- In December 2022, Johnson & Johnson, headquartered in the United States acquired Abiomed, based in Danvers, U.S. Abiomed is a United States-based manufacturer of intra aortic balloon pumps. The primary focus of Johnson & Johnson with this acquisition was to increase the market position in the global intra aortic balloon pumps market.
- In December 2022, Johnson & Johnson, headquartered in the United States acquired Abiomed, based in Danvers, U.S. Abiomed is a United States-based manufacturer of intra aortic balloon pumps. The primary focus of Johnson & Johnson with this acquisition was to increase the market position in the global intra aortic balloon pumps market.
Contact us:
Consegic Business intelligence Pvt Ltd.
Contact no: (US) (505) 715-4344
Email: [email protected]
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