The Europepercutaneous mechanical circulatory support devicesmarket is expected to reach US$ 1,199.73 million by 2027 from US$ 456.73 million in 2019. The market is expected to grow at a CAGR of 13.1% during 2020–2027. Increasing geriatric population, increasing prevalence of cardiovascular diseases, and shortage of heart donors are the major factors driving the growth of the market in the region. Additionally, rapidly growing healthcare market and consolidation in the market are likely to fuel the growth of the percutaneous mechanical circulatory support devices market during the forecast period. However, factors such as high costs of these devices and procedures associated with them as well as product recalls, and impact of COVID-19 pandemic on medical device industry are likely to restrain the growth of the market.
Percutaneous mechanical circulatory support devices offer effective and rapid approach to slow the downward spiral of hemodynamic instability among patients suffering with decompensated heart failures and cardiogenic shocks till a more definitive strategy is perceived among patients to recover from these cardiac ailments. The major roles of the percutaneous mechanical circulatory support devices include improving the native cardiac output, reducing ventricular volume and filling pressures, augmenting coronary perfusion, and maintaining vital organ perfusion.
The high market growth is anticipated on account of the rising geriatric population. The risk of cardiovascular diseases increases with an increase in age among both males as well as females. Increasing age makes the blood vessels less flexible and reduction in blood flow. Thus, the risk of heart disease is high in the elderly population. Cardiovascular disease (CVD) in older people imposes a huge burden in terms of mortality, morbidity, disability, functional decline, and healthcare costs. According to the European Heart Network, in 2017, the cardiovascular disease (CVD) caused 3.9 million deaths each year in Europe and over 1.8 million deaths in the European Union (EU). CVD accounts for 45% of all deaths in Europe and 37% of all deaths in the EU.Moreover, death rates from stroke and ischemic heart disease (IHD) are usually higher in Central and Eastern Europe than in Northern, Southern and Western Europe. Thus, increasing prevalence of heart failures and cardiogenic shocks in geriatric population increases the adoptionof percutaneous mechanical circulatory support devices and eventually favors the market growth.
Among all European countries, Spain, Italy, Germany, France, and the UK are the most affected due to the increasing number of COVID-19 cases and deaths associated with it. For instance, the outbreak of the COVID-19 in Germany and Spain has resulted in the frozen production of various medical devices. As various hospitals and healthcare organizations are struggling with the spread of disease, various medical device companies have diverted their focus in producing personal protection equipment. Therefore, it expected that the market for the percutaneous mechanical circulatory support devices would witness a slow growth in the coming one or two years.
In terms of product,the intra-aortic balloon pumps segment held the largest share of the percutaneous mechanical circulatory support devices market in 2019 and is expected to dominate the market in 2027. The growth of this segment is attributed to the advantages such as better outcomes, rare complication rates, and low mortality rates. Moreover, these systems also have ability to increase the coronary blood supply. However, the short-term ventricular assist devices segment is anticipated to witness the fastest growth rate during the forecast periodas these devices have comparatively low contra-indications and may remain in-situ in patients for a longer time than IABPs. Additionally, these devices are suitable to act as a single compensation to all the cardiac functions.
A few of the major secondary sources associated with the Europepercutaneous mechanical circulatory support devicesmarket report are theWorld Health Organization(WHO), European Heart Network, National HealthServices (NHS), Centers for Disease Control and Prevention (CDC),British Heart Foundation,and European Society of Cardiology, among others.