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Global Intra-Aortic Balloon Pump (IABP) Market to Exhibit a CAGR of 5.5% Over the Forecasted Period

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 Published Date : 27 Jan 20   |   Views: 111   |  Industry : Miscellaneous

Global Intra-Aortic Balloon Pump (IABP) Market to Exhibit a CAGR of 5.5% Over the Forecasted Period

Technological advancements have led to greater adoption of highly advanced medical devices such as Intra-Aortic Balloon Pump (IABP). As per a recent market study conducted by QYR Consulting, Intra-Aortic Balloon Pump (IABP) offers a novel solution for improving the cardiac function and has a largescale application in critical surgeries. The study is published under a research report titled, “Intra-Aortic Balloon Pump (IABP) Market Report: Company Analysis, History and Future Overview, Global Sales Trends by 2025,” which offers a detailed overview of the market. According to this report, the global Intra-Aortic Balloon Pump (IABP) market is estimated to be valued at US$ 546.0 Mn by the end of 2025 from an initial value of US$ 376.0 Mn in 2019, exhibiting a moderate CAGR of 5.5% over the forecast period i.e. from 2019 to 2025.

Segmental Analysis

Increasing Adoption of Medical Devices in Hospitals to Foster the Growth of the Hospital Segment

Intra-Aortic Balloon Pump (IABP) device has diverse applications in Cardiac Care Centers, Hospitals, and others. 

 Rapidly adoption of advanced devices in healthcare industry mainly to provide quality treatment along with an increase in the number of patients suffering from heart conditions is likely to foster the growth of the hospitals segment. The type segment of the Intra-Aortic Balloon Pump (IABP) market is categorized into Fiber Optic Type and Ordinary Type.

Global Intra-Aortic Balloon Pump (IABP) Market to Exhibit a CAGR of 5.5% Over the Forecasted Period

North America

Global Intra-Aortic Balloon Pump (IABP) Market to Exhibit a CAGR of 5.5% Over the Forecasted Period

Regional Analysis


North America is Projected to Offer Enormous Growth Potential for the Market

Growing contribution of government by funding for the research and development activity in the healthcare sector in North America is likely to drive the growth of the market. The region held a substantial share of the market and has an enormous growth potential due to increasing cases of heart conditions owing to a sedentary lifestyle.

Increasing cases of chronic heart diseases and rising acceptance of advanced medical devices in treatment is likely to offer lucrative growth opportunities in the healthcare sector of the developing countries in the Asia-Pacific region.

Key Players


Market Players are Keen to Invest in R&D

Key players functioning in the Intra-Aortic Balloon Pump (IABP) market are Teleflex Incorporated and Maquet (Getinge Group). Leading companies are focusing on developing cost-effective technology-based solutions for improving and assisting in treatment, diagnosis, and surgeries. The market players are also largely investing in research and development activities.

 


Global Intra-Aortic Balloon Pump (IABP) Market to Exhibit a CAGR of 5.5% Over the Forecasted Period

Global CAGR During 2020-2026


5.5%

Market Dynamics


Increasing Cases of Heart Conditions to Drive the Growth of the Market

High demand for medical devices in the treatment of patients suffering from cardiovascular disorders and increasing applications in critical surgeries is likely to drive the growth of the market. The increasing adoption of medical devices as a solution for patient assistance and improving functions is likely to propel the growth of the market. The rising need for modernization in healthcare is leading to a largescale adoption of advanced technology, which is expected to offer new scope for the growth of the market.


For further information, check :https://www.qyrconsulting.com/reports/intra-aortic-balloon-pump-iabp-market


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