The mechanical circulatory support (MCS) devices market size is anticipated to be valued at USD 1,164.3 Million in 2021 and is expanded to grow at a significant CAGR of 6.7% over 2022-2028. When the heart isn’t operating correctly, a mechanical circulatory support (MCS) device can help. Patients with advanced heart or pulmonary failure may need external mechanical assistance to keep their heart pumping enough blood. Mechanical circulatory support (MCS) devices are a traditional way by which temporary or permanent support may be provided to the patients. Mechanical circulatory support devices’ technologically advanced features, such as their small size, which allows them to be implanted with minimal invasion to provide complete ventricular assistance and reduced hemolysis by providing ample circulation paths, are driving the global mechanical circulatory support devices market. Furthermore, funding from various governments will aid in the research and development of these devices, boosting the mechanical circulatory support device market even further. Due to an increase in the adoption of cardiac monitoring systems during the treatment of mechanical circulatory support (MCS) devices, the surgical segment generated the most revenue in 2020. By end-user, the hospital segment registered the highest revenue in 2021, owning to the increased adoption of laser and radiofrequency methods for catheter ablation. An increase in the number of patients with arrhythmia or an irregular heartbeat problem has resulted in a growth in demand for cardiac monitors.
Recent Market Developments:
In December 2020, Abbott announced their FDA approval for updated labeling of the company’s HeartMate 3 heart pump so that it could be used readily in pediatric patients suffering from advanced refractory left ventricular heart failure.
In Feb 2021, Terumo Signs a Definitive Agreement to Acquire All Assets of Health Outcomes Sciences, Inc. Transaction furthers Terumo’s efforts to improve patient outcomes and decrease healthcare costs through personalized predictive analytics and clinical decision support at the point of care