Heart Pump Device Market Size, Share, Growth Analysis, By Product Type(Ventricular assist devices (VADs), Intra-aortic balloon pumps (IABPs), Total artificial heart (TAH)), By Indication(Bridge-to-transplant (BTT), Destination therapy (DT), Bridge-to-recovery (BTR)), By End-user(Hospitals, cardiology centers, ambulatory surgical centers), By Region - Industry Forecast 2024-2031

In February 2024, Monash University will lead a team to create innovative implantable cardiac devices aiming to provide long-term solutions for various types of heart failure. The Artificial Heart Frontiers Program, situated at the Monash Alfred Baker Centre for Cardiovascular Research at The Alfred, secured a $50 million grant from the Medical Research Future Fund (MRFF). The program intends to develop and bring to market three essential devices for treating prevalent forms of heart failure. The initiative, backed by Minister for Health and Aged Care, The Hon Mark Butler, seeks to revolutionize cardiac treatment, offering hope for patients with debilitating heart conditions.

In February 2024, the Artificial Heart Frontiers Program, led by BiVACOR in collaboration with several universities and healthcare institutions, secured the third-largest grant ever from the MRFF. This funding will support the development and commercialization of three key devices. Firstly, the Mini-Pump, a new miniature device implanted directly into the hearts of patients with no other treatment options for heart failure. Secondly, a novel left ventricle assist device (LVAD) placed next to the natural heart to aid pumping. Lastly, BiVACOR's Total Artificial Heart (TAH), which completely replaces the natural heart. These advancements aim to offer hope and improved treatment options for those with severe heart conditions.

In November 2023, the National Heart Centre Singapore (NHCS) collaborated with Medera’s Novoheart to develop the world's inaugural Asian patient-specific miniature human heart model afflicted with heart failure, named the "Human Heart-in-a-Jar".