Heart Pump Device Market Research - Global Insights, Competitive Landscape, and Forecasts to 2030 [Yahoo! Finance]
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Abbott Laboratories (ABT)
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Source: Yahoo! Finance
The heart pump devices market was valued at USD 2.73 billion in 2023, growing at a CAGR of 15.16% during the forecast period from 2024 to 2030, to reach USD 6.35 billion by 2030 The demand for heart pump devices is primarily motivated by the increase in cardiovascular disease (CVDs) prevalence, the rise in the geriatric population, and various companies with products in their pipeline phase. Heart Pump devices were found to be extremely beneficial in heart failure cases which further pushed for the demand for these devices during the pandemic situation. Due to a scarcity of heart suppliers, cardiac pumps are an optimal solution that encourages Global market expansion. Factors such as the high cost of the pump and a low repayment scenario in developing countries are nevertheless projected to inhibit the growth of the market. Heart Pump Devices Market Dynamics: According to the American Heart Association 2022, about 244.1 million people were globally living with coronary (ische
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