The global centrifugal blood pump market garnered a market value of US$ 124.6 million in 2023 and is expected to accumulate a market value of US$ 184.5 million by registering a CAGR of 4.0% in the forecast period 2023 to 2033.
The centrifugal blood pumps market is likely to provide major growth opportunities. One such avenue includes the potential for 3D-printed blood pumps, the emergence of smart blood pumps equipped with sensors and IoT capabilities, and the increasing use of centrifugal blood pumps in extracorporeal membrane oxygenation (ECMO) procedures.
The advancements in technology and the increasing prevalence of cardiovascular diseases are expected to drive market growth in the coming years.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value (2023) | US$ 124.6 Million |
| Anticipated Forecast Value (2033) | US$ 184.5 Million |
| Projected Growth Rate (2023 to 2033) | 4.0% CAGR |
The global centrifugal blood pump market is a dynamic and growing market, driven by increasing demand for effective and safe blood pumping solutions. The market is characterized by the presence of key players, such as Medtronic, Abbott and Terumo Corporation, who are investing in research and development to innovate new products and expand their market share.
The market is driven by numerous factors such as the increasing prevalence of cardiovascular diseases, the rising demand for blood pumps in organ transplant procedures, and the growing aging population. The increasing prevalence of kidney diseases and the growing adoption of advanced medical devices are further driving market growth.
The market is also witnessing numerous new trends, including the emergence of miniaturized centrifugal blood pumps, technological advancements in centrifugal blood pump systems, and increasing focus on developing portable and cost-effective blood pumping solutions. These trends are expected to drive growth in the market over the forecast period.
The centrifugal blood pump market is expected to continue its growth trajectory, driven by ongoing technological innovations and the increasing demand for efficient blood pumping solutions.
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The global demand for centrifugal blood pumps is projected to increase at a CAGR of 4.0% during the forecast period between 2023 and 2033, reaching a total of US$ 124.6 million in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 3.4%.
From 2018 to 2022, the centrifugal blood pump market witnessed a steady increase in demand, with a CAGR of approximately 3.4%. However, with the outbreak of the COVID-19 pandemic in 2020, the market experienced a temporary decline due to the disruption in the supply chain and decreased demand for elective surgeries. Nonetheless, the market quickly rebounded in 2021, and growth is expected to continue in the coming years.
Looking ahead, the market outlook for the centrifugal blood pump market remains positive, with a projected CAGR of approximately 4.0% from 2023 to 2033. This growth is expected to be driven by factors such as increasing demand for home healthcare solutions, the integration of advanced technologies such as artificial intelligence and wireless connectivity, and the growing prevalence of chronic diseases such as heart failure and kidney failure.
The centrifugal blood pump market is expected to continue its growth trajectory in the coming years, driven by both established and emerging market drivers, with opportunities for innovation and expansion in various regions and end-use segments.
Development of New and Advanced Centrifugal Blood Pumps is a Significant Growth Factor
The development of new and advanced centrifugal blood pumps with enhanced features, such as improved biocompatibility, reduced blood trauma, and increased durability, is another driver of the market. These advancements have led to better patient outcomes and increased adoption of these devices.
Minimally Invasive Surgeries a Dollar Opportunity in the Centrifugal Blood Pumps Market
The growing trend towards minimally invasive surgeries is driving the adoption of centrifugal blood pumps, which are often used in these procedures.
Compared to traditional open surgeries, minimally invasive surgeries are associated with reduced blood loss, shorter hospital stays, and faster recovery times, all of which can be facilitated by the use of centrifugal blood pumps.
A Key Market Trend is in the Centrifugal Blood Pump Market
Among the key market trends in the centrifugal blood pump market is the increasing adoption of portable and compact centrifugal blood pumps. This trend is driven by the growing demand for home healthcare solutions, especially for patients suffering from chronic diseases such as heart failure and kidney failure.
Portable centrifugal blood pumps allow patients to move around more freely while receiving continuous blood pumping support, resulting in better quality of life. The integration of advanced technologies such as artificial intelligence and wireless connectivity is further driving the demand for centrifugal blood pumps, as they enable real-time monitoring and remote management of patients' conditions.
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Expensive Cost as well as Alternative Treatment Options to Stifle Market Growth
Centrifugal blood pumps are relatively expensive devices, which may not be affordable for all healthcare facilities and patients. This high cost may limit the adoption of these devices, particularly in low- and middle-income countries.
There are alternative treatment options available for certain cardiovascular and respiratory conditions, such as medication, mechanical ventilation, and intra-aortic balloon pumps. The availability of these alternatives may reduce the demand for centrifugal blood pumps, particularly in less severe cases.
The use of centrifugal blood pumps may be associated with certain risks and complications, such as bleeding, hemolysis, thrombosis, and infection. These complications may limit the use of these devices in some patient populations or increase the cost of care.
Growing Demand for Organ Transplantation Surgeries to Widen Profit Margins
China has the largest organ transplant programs in the world, with a significant demand for organs due to high incidence of chronic kidney and liver diseases. Centrifugal blood pumps are used during organ transplantation surgeries, and the growing demand for these surgeries is expected to drive the market growth in China.
The prevalence of cardiovascular diseases such as coronary heart disease, hypertension, and stroke is increasing in China due to factors such as unhealthy dietary habits, sedentary lifestyle, and aging population. This trend is expected to drive the demand for centrifugal blood pumps in the country, as these devices are used in the treatment of heart failure and during cardiac surgeries.
As per Future Market Insights, China is expected to grow at a CAGR of 5.40% in the assessment period 2023 to 2033.
Reduced Risk of Cross-Contamination to Promote Market Growth
The demand for disposable blood pumps is increasing in North America due to numerous factors such as reduced risk of cross-contamination, decreased need for sterilization, and improved safety for patients. This trend is expected to drive the market for centrifugal blood pumps in North America, as more companies are now investing in the development of disposable blood pumps.
The demand for pediatric-sized centrifugal blood pumps is rising in North America due to the increasing prevalence of congenital heart diseases in infants and children. These pumps are designed to deliver blood flow to children's smaller hearts, reducing the risk of complications during cardiac surgeries.
Manufacturers are investing in the development of pediatric-sized centrifugal blood pumps, which is expected to drive the market growth in North America. The United States is expected to grow at a CAGR of 4.9% in the assessment period 2023 to 2033.
Increasing prevalence of chronic diseases fuelling Market Growth
The prominent factors shaping the centrifugal blood pump market in the United Kingdom include increasing prevalence of chronic diseases such as cardiovascular diseases and kidney failure, advancements in technology, rising healthcare expenditure, and favourable government policies promoting the adoption of advanced medical devices.
The need for better patient outcomes and the growing demand for minimally invasive surgeries have also been significant drivers of the market.
The presence of established players in the market and their efforts to develop innovative products and expand their distribution networks have contributed to the growth of the market in the United Kingdom. The country is expected to grow at a CAGR of 2.10% in the assessment period 2023 to 2033.
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The Electronic Segment is leading the way in the Centrifugal Blood Pump Market
On the basis of motor type, the electronic motor segment is expected to have the upper-hand in the centrifugal blood pump market. This is because electronic motors offer several advantages over mechanical motors, including higher efficiency, lower noise, and longer lifespan.
Electronic centrifugal blood pumps also have better controllability and can be easily integrated with electronic control systems. Electronic motors have become increasingly popular in recent years due to advances in motor and electronic control technology, making them the preferred choice for many centrifugal blood pump manufacturers. Hence, the electronic segment is expected to promote market growth during the forecast period.
Hospitals Dominate the End User Segment
Based on end user, the hospitals category is predicted to grow at an incredible rate in the market during the forecast period. Hospitals have a greater demand for centrifugal blood pumps due to their larger patient volumes and wider range of medical procedures that require the use of these devices. Specialty clinics and ambulatory surgical centers also use centrifugal blood pumps, but on a smaller scale compared to hospitals.
Prominent start-up in order to consolidate their market presence, players in the Centrifugal Blood Pump is launching new and novel product lines, and the aforementioned start-ups have left no stone unturned. The following are some particular examples of significant centrifugal blood pump start-ups:
The centrifugal blood pump market is a highly competitive space with numerous players competing for market share. The industry is characterized by a few dominant players with established brand recognition and extensive distribution networks.
There are also several emerging players with innovative technologies and business models that are disrupting the market. Companies are leveraging advancements in materials science and engineering to create centrifugal pumps with superior flow rates, durability, and safety profiles.
In addition, there is a growing demand for portable and miniaturized centrifugal pumps, which is driving innovation in the market. Key players in the Centrifugal Blood Pump market are Medtronic, Abbott, Terumo Corporation, Qura Srl, Braile Biomedica Ltd., LivaNova, PLC, XENIOS AG (Fresenius Medical Care Company) and Getinge AB.
Recent Developments:
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | US$ 124.6 million |
| Market Value in 2033 | US$ 184.5 million |
| Growth Rate | CAGR of 4.0% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
The centrifugal blood pump market is valued at US$ 124.6 million in 2023.
The key players in the centrifugal blood pump market are Medtronic, Getinge, and Terumo.
The axial flow pumps segment is likely to remain preferred through 2033.
Players opt for product innovation and strategic partnerships.
India, Japan, and China dominate the Asian market.
1. Executive Summary | Centrifugal Blood Pump Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Motor
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Motor, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Motor, 2023 to 2033
5.3.1. Electronic
5.3.2. Mechanical
5.4. Y-o-Y Growth Trend Analysis By Motor, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Motor, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By End User, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End User, 2023 to 2033
6.3.1. Hospitals
6.3.2. Specialty Clinics
6.3.3. Ambulatory Surgical Centres
6.4. Y-o-Y Growth Trend Analysis By End User, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By End User, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. South Asia
7.3.5. East Asia
7.3.6. Oceania
7.3.7. MEA
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. The USA
8.2.1.2. Canada
8.2.2. By Motor
8.2.3. By End User
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Motor
8.3.3. By End User
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Motor
9.2.3. By End User
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Motor
9.3.3. By End User
9.4. Key Takeaways
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. United Kingdom
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Motor
10.2.3. By End User
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Motor
10.3.3. By End User
10.4. Key Takeaways
11. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. India
11.2.1.2. Malaysia
11.2.1.3. Singapore
11.2.1.4. Thailand
11.2.1.5. Rest of South Asia
11.2.2. By Motor
11.2.3. By End User
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Motor
11.3.3. By End User
11.4. Key Takeaways
12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. China
12.2.1.2. Japan
12.2.1.3. South Korea
12.2.2. By Motor
12.2.3. By End User
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Motor
12.3.3. By End User
12.4. Key Takeaways
13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. Australia
13.2.1.2. New Zealand
13.2.2. By Motor
13.2.3. By End User
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Motor
13.3.3. By End User
13.4. Key Takeaways
14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Motor
14.2.3. By End User
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Motor
14.3.3. By End User
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Motor
15.1.2.2. By End User
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Motor
15.2.2.2. By End User
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Motor
15.3.2.2. By End User
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Motor
15.4.2.2. By End User
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Motor
15.5.2.2. By End User
15.6. United Kingdom
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Motor
15.6.2.2. By End User
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Motor
15.7.2.2. By End User
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Motor
15.8.2.2. By End User
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Motor
15.9.2.2. By End User
15.10. India
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Motor
15.10.2.2. By End User
15.11. Malaysia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Motor
15.11.2.2. By End User
15.12. Singapore
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Motor
15.12.2.2. By End User
15.13. Thailand
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Motor
15.13.2.2. By End User
15.14. China
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Motor
15.14.2.2. By End User
15.15. Japan
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Motor
15.15.2.2. By End User
15.16. South Korea
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Motor
15.16.2.2. By End User
15.17. Australia
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Motor
15.17.2.2. By End User
15.18. New Zealand
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Motor
15.18.2.2. By End User
15.19. GCC Countries
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Motor
15.19.2.2. By End User
15.20. South Africa
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Motor
15.20.2.2. By End User
15.21. Israel
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2022
15.21.2.1. By Motor
15.21.2.2. By End User
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Motor
16.3.3. By End User
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Medtronic Plc
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. Thoratec Corporation
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Terumo Corporation
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. Qura Srl
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. Braile Biomedica Ltd.
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. LivaNova, PLC
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. XENIOS AG
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. Getinge AB
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. Abbott
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. Fresenius Medical Care Company
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Centrifugal Blood Pump Market
