(MENAFN- Straits Research) Artificial hearts, usually called cardiac assist devices, are medical devices designed to replace or enhance the regular operations of the human heart. When a person's heart cannot efficiently pump blood owing to heart failure, cardiac illness, or other significant medical difficulties, these devices are used. Artificial hearts may be temporary or permanent therapies depending on the patient's needs.
An increase in the frequency of cardiac disorders and an increase in the senior population drive the artificial heart market. Improper lifestyle choices contribute to worsening cardiac diseases and are expected to open up new markets for artificial heart manufacturers. On the other hand, the high cost of artificial heart valves and closely controlled treatment facilities are expected to limit the artificial heart market share.
Market Dynamics
Rising Incidence of Cardiovascular Diseases Propels the Market Expansion
Cardiovascular diseases (CVDs), which include coronary artery disease, heart failure, and hypertension, continue to be a global public health concern. These conditions can result in serious cardiac damage, necessitating sophisticated therapies such as prosthetic hearts. In the United States, heart disease is a major public health concern. According to the Centers for Disease Control and Prevention (CDC), heart disease was the leading cause of death in the United States in 2022, accounting for approximately 699,659 deaths.
Governments, corporations, and healthcare organizations have contributed majorly to CVD research and development. These efforts strive to prevent, diagnose, and treat cardiovascular diseases. For example, the National Institutes of Health (NIH) in the United States contributes a significant portion of its budget to cardiovascular research, including studies on mechanical hearts and advanced cardiac therapy. This is expected to drive the artificial heart market forward.
Technological Advancement Creates Tremendous Opportunities
Technological advances have made artificial cardiac devices smaller and more efficient. Miniaturization allows less invasive surgery and patient comfort. The SynCardia 50cc Total Artificial Heart, a smaller TAH-t, shows miniaturization breakthroughs. This device is designed to fit more patients, expanding its use. Advances in materials science have led to more biocompatible and durable artificial heart materials. These materials reduce equipment issues and extend its lifespan.
AI and ML are also utilized to assess artificial cardiac device data. This helps foresee issues, optimize device settings, and improve patient care. AI systems can analyze patient data like heart rate and device features to identify patterns indicating device malfunction or poor patient health, enabling preventive actions. These technological advances improve artificial heart performance and safety and may cut healthcare costs by minimizing issues and hospital readmissions. Technology is expected to enhance artificial heart patients' prospects greatly.
Regional Insights
North America maintains its market share during the forecast. The North American artificial heart market is driven by increased cardiovascular problems, technology adoption, product approvals, investments, and major activities by key industry participants. The US is expected to increase significantly in North America throughout the research period. Heart failure-related cardiovascular illnesses are expected to boost the artificial heart market. According to the CDC's February 2022 'Heart Disease Facts,' heart disease is one of the leading causes of mortality in the US. Over 659,000 Americans have heart attacks annually, according to the same source. As heart disease mortality rises, devices to improve heart efficiency are needed, driving the studied market.
Furthermore, new products and services in the region will affect the market. In February 2021, the FDA allowed Carmat to use its upgraded mechanical heart in its US early feasibility study (EFS). This revised device has prosthesis and wearable system improvements based on PIVOTAL clinical experience. This invention enhances patient safety and quality of life. Research and development of heart function technologies will drive the market. In February 2022, Harvard University researchers built a school of fish that swims independently using human heart cell contractions. This trial may advance pacemaker technology and mechanical and human hearts, driving the market.
Europe is the second-largest market, with a high share. New treatment facilities and rising healthcare unit costs boost the artificial heart market and medical device market share globally. EU heart failure will affect almost 10 million people by 2023. Cardiovascular disease kills 3.9 million Europeans annually, 45% of all fatalities.
The European Heart Network estimates that around 10 million EU citizens are at risk of heart failure. Due to a global shortage of donor hearts, few people are waiting for transplants. Thus, the prospect of an artificial substitute saves many. With European Innovation Council financing, ArtOfHeart is spending €38 million on clinical and pre-clinical testing of Scandinavian Real Heart AB's artificial heart. The European Society of Cardiology reports that prosthetic heart valve transplantation is prevalent since cardiovascular disease is Europe's leading cause of death and morbidity. Artificial heart valve prices drive market growth.
Key Highlights

The global artificial heart market was valued at
USD 2.16 Billion in 2022
and is projected to reach
USD 7.31 Billion
by 2031, registering a
CAGR of 23.5%
during the forecast period (2023-2031).
Total Artificial Heart (TAH) and Ventricular Assist Device (VAD) are two subtypes. Total Artificial Heart (TAH) holds the biggest market share.
The category can be further subdivided into clinics and hospitals based on application. Hospitals had an impact on market growth.
Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America is the most significant global cosmetic dyes market shareholder and is estimated to grow at a CAGR of 4% over the forecast period.

Competitive Landscape
The key players in the global Artificial Heart Market are BiVACOR, CARMAT, SynCardia Systems, ReinHeart TAH, ABIOMED, Abbott, Cirtec, LivaNova, Jarvik Heart, and CryoLife.
Market News

In March 2023, BiVACOR was awarded USD 18 million in funding to further human artificial heart research.
In September 2023, Abbott (NYSE: ABT) completed its acquisition of Bigfoot Biomedical, a pioneer in creating smart insulin control devices for people with diabetes.

Global Artificial Heart Market: Segmentation
By Product Type

Total Artificial Heart
Ventricular Assist Device (VAD)

By Application

Clinics
Hospitals
Others

By Region

North America
Asia-Pacific
Europe
The Middle East and Africa
Latin America

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