The intra-aortic balloon pump (IABP) is a medical device used to enhance myocardial oxygen perfusion and increase cardiac output by way of afterload reduction. The cardiovascular device effectively improves cardiac function after life-threatening surgeries like heart transplants, coronary artery bypass grafting, and percutaneous coronary interventions. The IABP device also finds extensive application in the treatment of cardiogenic shock and assisting left ventricular function. The device comprises two main components – a double-lumen catheter with a distal end and a console regulating the balloon’s inflation and deflation. The balloon inflates in diastole and deflates in systole through counter-pulsation. Systolic deflation reduces afterload through a vacuum effect and facilitates forward flow from the heart. On the contrary, diastolic inflation enhances blood flow to the coronary arteries through the retrograde flow. Hence, these actions together reduce myocardial oxygen demand, thereby increasing the myocardial oxygen supply. Furthermore, the intra-aortic balloon pump (IABP) device helps improve the supply of oxygen and smooth out the blood flow to the coronary arteries, stabilizing the conditions of patients with myocardial ischemia and dysrhythmias.
Global Intra-Aortic Balloon Pump (IABP) Market: Dynamics
The global intra-aortic balloon pump (IABP) market is foreseen to gain major momentum in the forthcoming years on account of a slew of favorable factors for market growth. Surging prevalence of cardiovascular diseases, increasing cases of coronary artery diseases like unstable angina and myocardial infarction, growing obese populace, increasing lifestyle disorders, the evolving global healthcare infrastructure, higher preference of advanced techniques over conventional techniques, rising number of pharmaceutical companies, increasing investments in R&D activities to develop safer and more cost-effective catheters and consoles, and favorable reimbursement policies for cardiovascular disease treatments are some of the pivotal factors expected to stimulate the global intra-aortic balloon pump (IABP) market expansion over the forecast timeline. The demand for advanced intra-aortic balloon pumps to minimize the adverse complications associated with balloon catheters has risen worldwide, which is another key propeller for global market growth. Moreover, the exponentially rising number of research institutions and pharmaceutical companies using functional medical devices has accelerated the adoption of intra-aortic balloon pumps, which is a significant market growth driver.
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However, the global intra-aortic balloon pump (IABP) market is likely to be confronted with certain significant hindrances to market growth in the future. High costs of cardiac procedures using IABP devices, major inflammatory risks observed during the balloon pump insertion, inaccessibility of multispecialty cardiac care centers for the rural population, product recalls and safety concerns regarding the use of IABP devices, risks associated with the use of intra-aortic balloon pumps, and an intense competition level among market players are the key restraints for the global market growth.
COVID-19 Impact on Global Intra-Aortic Balloon Pump (IABP) Market
The latest report holistically studies the present scenario of the global intra-aortic balloon pump (IABP) market, which is currently reeling from the profound impact of the COVID-19 pandemic. Alongside disrupting the global economic landscape in an unprecedented manner, the coronavirus outbreak has dramatically impacted the global intra-aortic balloon pump (IABP) market. The pandemic has ushered in an era of social distancing and led to severe paranoia about the spread of the virus, which has caused businesses worldwide to shut down for an uncertain period. Amid all this, the global healthcare sector has suffered badly due to a major decline in the number of hospital visits and surgical procedures. This, in turn, has lowered the demand for intra-aortic balloon pumps, thereby impeding the global market growth. However, market analysts speculate that COVID-19 has impacted the growth of this industry positively to a certain extent. As troubled breathing, chest pain, and sudden cardiac failures are the common instances of COVID-19 infection, the demand for IABP devices has increased since the outbreak, thereby boosting the global market growth.
Global Intra-Aortic Balloon Pump (IABP) Market: Geographical Scenario
The leading geographical segments of the global intra-aortic balloon pump (IABP) market:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Germany, Russia, France, Italy)
- Asia Pacific (China, India, Korea, Japan, Southeast Asia)
- Latin America (Brazil, Argentina, Colombia)
- Middle East & Africa (U.A.E., Saudi Arabia, Nigeria, Egypt, South Africa)
The North American intra-aortic balloon pump (IABP) market is the global market frontrunner and is likely to maintain its dominance throughout the forecast timeline. Market growth in the region is ascribed to the growing prevalence of various lifestyle and cardiovascular disorders, increasing cardia procedures, and higher government spending on the region’s healthcare sector. The European market is expected to emerge as the second-largest market, with the prevalence of heart ailments consistently on the rise. However, the Asia Pacific region is poised to witness fast-paced growth in the global intra-aortic balloon pump (IABP) market due to the growing advancements and innovations in the region’s healthcare sector. Among the APAC countries, Japan, China, Australia, South Korea, and New Zealand are the leading contributors to the regional market growth.
Global Intra-Aortic Balloon Pump (IABP) Market: Key Players
- Medtronic Inc.
- Teleflex Corporation
- Datascope Corp.
- Abiomed Inc.
- MAQUET Holding B.V. & Co.
- Boston Scientific Corporation
- Arrow International Inc.
- Peter Schiff Enterprise
- Knf Neuberger, Inc.
Global Intra-Aortic Balloon Pump (IABP) Market: Report Highlights
- The report is a compilation of detailed information on the global intra-aortic balloon pump (IABP) market trends and includes quantitative and qualitative assessments by industry experts.
- The report takes a closer look at the significant growth opportunities available for the fast-paced market.
- The report studies the historical, current, and estimated market sizes in terms of value and volume.
- The report offers in-depth market segmentation and investigates the changing market dynamics.
- The report presents an exhaustive overview of the global intra-aortic balloon pump (IABP) market’s vendor landscape and underlines the notable companies operating in this market.
Global Intra-Aortic Balloon Pump (IABP) Market Segmentation:
By Product Type:
- IABP Consoles
- IABP Catheters
- Introducer Tray
- Heart Transplant
- Acute Coronary Syndrome
- Chronic Heart Failure
- Cardiogenic Shock
- Impending Infarction
- Coronary Artery Diseases (Unstable Angina, Myocardial Infarction [NSTEMI])
- Others (Intraoperative pulsatile flow generation, Septic Shock)
By Balloon Size:
- Cardiac Care Centers
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