Global Artificial Heart Market Size

Artificial Heart Market Analysis

The Artificial Heart Market is expected to witness a significant CAGR of 15.4% over the forecast period (2022-2027).

With the emergence of COVID-19, there is a delay in elective procedures that have adversely affected cardiovascular devices, such as the artificial heart market, especially in 2020. The study "The impact of the COVID-19 pandemic on waiting times for elective surgery patients: A multicenter study" published in July 2021 stated that the elective procedure incidence decreased rapidly at the onset of the first COVID-19 wave in March 2020 but recovered in May and June, after which the surgery incidence was 22% higher than in the reference years. With only urgent surgeries being allowed and most of the cardiac procedures canceled or postponed due to the diversion of resources towards the COVID-19-affected patients, the market for the artificial heart was tremendously affected. According to the Society of Thoracic Surgeons, there was a 52.7% reduction in adult cardiac surgery volume and a 65.5% reduction in elective cases in the United States in 2020. Therefore, due to the COVID-19 imposed restrictions, the was significantly impacted. However, with the increase in cardiac surgeries, the demand for artificial hearts is expected to boost the growth of the market.

The factors propelling the studied market growth are the growing burden of cardiovascular diseases and technological advancements in the market. Additionally, the growing geriatric population and increased adoption of a sedentary lifestyle increase the risk of cardiovascular diseases, and rising research and development studies will also lead to significant growth of the market.

According to a study published by the British Heart Foundation in January 2022, there were approximately 7.6 million people with heart disease in the United Kingdom and nearly 160,000 deaths each year. An average of 460 fatalities each day or one death every three minutes happen in the United Kingdom due to cardiovascular disorders (CVDs). Due to the rising burden of cardiovascular diseases, there is an increasing demand for innovative technologies which can decrease the mortality rates associated with heart failure, thereby increasing the demand for artificial hearts during the study period.

The rising research and development studies highlighting the improved survival rates of cardiac patients will increase its adoption, thereby leading to lucrative growth of the market. For instance, according to the study "Outcomes after heart transplantation and total artificial heart implantation: A multicenter study" published in March 2021, post-transplant of t-TAH (SynCardia Systems, Tucson, Arizona), survival was 88%, 84%, 79%, and 74% at six months, one year, two years, and five years, respectively, which is significantly high. More technological innovations in the artificial heart market are expected to increase the survival rate, thus driving the market.

Also, the article "New artificial heart shows promising results in 'auto-mode'" published in June 2021, stated that the Carmat Total Artificial Heart (C-TAH) Auto-Mode with built-in pressure sensors effectively produces appropriate physiological responses reflective of changing patients' daily needs and thus provides almost physiological heart replacement therapy. Therefore, such technological innovations in the market will fuel its growth.

Therefore, owing to the aforementioned factors, the studied market is expected to grow significantly during the study period. However, the high cost of artificial heart and related surgery is expected to hinder the market growth during the study period.