Intra-aortic Balloon Pump Market is Projected to Reach US$ 563.5 million With 2.6% CAGR by 2034 | Fact.MR Report

Global Intra-aortic Balloon Pump Market Value to Witness Continuous Growth with Rising Cases of Heart Complications

ROCKVILLE, MD, UNITED STATES, February 20, 2025 /EINPresswire.com/ -- The global intra-aortic balloon pumps market size in 2024 is estimated to be around 437.6 million. With the rising incidents of heart failures and cardiac complications worldwide, the global demand for IABP devices is anticipated to increase at a rate of 2.6% per year between 2024 and 2034. By following this moderate growth rate, the global intra-aortic balloon pump industry value is poised to reach up to US$ 563.5 million.

In an effort to accommodate healthcare budget restrictions, market players are focusing on the development of cost-effective intra-aortic balloon pump technologies to provide it at competitive pricing. However, the production rate of intra-aortic balloon pumps in the coming days is expected to be severely impacted by strict regulatory requirements and a heightened focus on patient safety.

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Key Takeaways from the Global Intra-aortic Balloon Pump Market Study Report

North America, with an estimated market share of 40.2% in 2024, is the leading geographical region for the use of IABP in coronary artery diseases. The United States is the leading market for intra-aortic balloon pumps in North America, and it is poised to advance at 2.7% CAGR through 2034.

Canada contributes more than 30% of North America, and it is forecast to witness a higher CAGR of 2.9% between 2024 and 2034. In 2019, the East Asia market value was US$ 65 million, and it is expected to be around US$ 74 million by 2024 end.

China holds a prominent place in East Asia for the production of intra-aortic balloon pumps and is expected to progress at 3.5% CAGR through 2034. In East Asia, South Korea follows China in the production of IABP devices, and it is expected to advance with a CAGR of 3.2% through 2034.

"Integration of remote monitoring and connectivity features with aorta counter-pulsation devices is expected to transform the way IABP devices operate completely. Leading IABP manufacturers have also adopted the strategy to work with medical facilities to offer customized solutions for various medical environments, “ says a Fact.MR analyst.

Leading Players Driving Innovation in the Intra-aortic Balloon Pump Market:

Teleflex Corporation; MAQUET Holding B.V. & Co. KG. (Getinge Group); Zeon Corporation; Tokai Medical Products Inc.; SENKO MEDICAL INSTRUMENT Mfg. CO., LTD.; InterValve Inc.; Insightra Medical, Inc.

Competitive Landscape for Intra-aortic Balloon Pump Market Players

The overall market is currently consolidated as there are a limited number of players who have been able to develop and mass-produce reliable IABP devices successfully. However, increased government support to private players for strengthening the healthcare infrastructure in emerging economies is anticipated to increase the number of participants in the coming days.

Getinge, a medtech company, revolutionized the hemodynamic support devices industry by developing and releasing a Cardiosave Hybrid pump in 2022. This ground-breaking pump redefines counterpulsation treatment with its vast touchscreen display, significantly lighter and smaller design, and smooth transition from in-hospital use to travel mode. Also, this new product is expected to enhance the company's brand value with better algorithms and improved pneumatics to enable more effective therapy.

Johnson & Johnson Company completed the acquisition of Abiomed, a medical technology company, in December 2022. Through this acquisition, Johnson & Johnson aims to broaden its portfolio in the medtech segment.

Country-wise Insights

"Technological Breakthroughs in Medical Devices Puts the United States in Top Position"

The North American intra-aortic balloon pump (IABP) market is made up of three countries: Canada, Mexico, and the United States, and it is expected to be worth approximately US$ 176 million in 2024. The United States, with a market valuation of US$ 107 million in 2024, is North America's top market, accounting for over 60.9% of the total.

There has been a huge increase in the number of elderly persons in the United States with heart disease. As a result, existing market players in the United States are emphasizing the customisation of intra-aortic balloon pumps to address the distinct needs and challenges that senior individuals confront.

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Intra-aortic Balloon Pump Industry News:

The global market for intra-aortic balloon pumps has become increasingly competitive as medical device makers have entered the cardiac healthcare sector in recent years. Rising rivalry in the medical device industry has resulted in rapid technological improvements, leading to the development of increasingly sophisticated intra-aortic balloon pump systems.

In December 2022, Johnson & Johnson startup purchased Abiomed, a technology-based startup. It's an American company that manufactures intra-aortic balloon pumps. Johnson & Johnson hopes that this acquisition will help them strengthen its position in the global market for intra-aortic balloon pumps.

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