According to the latest report by IMARC Group, titled “Ventricular Assist Devices Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global ventricular assist devices market reached a value of US$ 1.56 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.80 Billion by 2027, exhibiting at a CAGR of 10.09% during 2022-2027. Also known as a mechanical circulatory support device, a ventricular assist device (VAD) is an implantable mechanical pump utilized to support heart function and blood flow among patients with a weak heart or those suffering from heart failure. It is implanted as short-term treatment after surgery or while patients are waiting for a heart transplant. It assists in pumping blood from the lower chambers of the heart to the rest of the body. It generally includes tubes, an electronic controller and a power source. It is employed in destination therapies, bridge-to-transplant (BTT), bridge-to-recovery (BTR) and bridge-to-candidacy (BTC).
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally-our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global Ventricular Assist Devices Market Trends:
Heart transplantation is an optimal surgical therapy utilized for end-stage heart failure (HF). It is increasingly becoming limited on account of the shortage of suitable heart donors and the widening gap between donors and recipients. This represents one of the significant factors propelling the global ventricular assist devices market growth.
Apart from this, the rising prevalence of cardiovascular disorders (CVDs), such as hypertension, ventricular septal defect, heart failure and stroke, due to stressful and sedentary lifestyles and increasing consumption of fast food, is also strengthening the market growth. Furthermore, the leading manufacturers are using advanced technologies to develop miniature devices designed with infection control, which is anticipated to impel the market growth in the coming years.
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Key Market Segmentation:
Some of the major players operating in the industry include:
- Abbott Laboratories (ABT)
- Abiomed, Inc.
- Berlin Heart GmbH (Syscore GmbH)
- BiVACOR, Inc.
- Calon Cardio Technology Limited
- Cardiacassist Inc. (LivaNova PLC)
- CHF Solutions, Inc.
- Jarvik Heart, Inc.
- MAQUET GmbH (Getinge Group)
- Medtronic Plc
- Syncardia Systems LLC (Versa Capital Management LLC)
- TandemLife (LivaNova Plc)
- Terumo Corporation.
Breakup by Product:
- Left Ventricular Assist Device (LVAD)
- Right Ventricular Assist Device (RVAD)
- Biventricular Assist Device (BiVAD)
Breakup by Flow Type:
- Pulsatile Flow
- Non-Pulsatile or Continuous Flow
Breakup by Product Type:
- Implantable Ventricular Assist Devices
- Non-implantable Ventricular Assist Devices
Breakup by Application:
- Bridge-to-Transplant (BTT) Therapy
- Destination Therapy
- Bridge to Recovery and Bridge to Candidacy
Breakup by End-User:
- Ambulatory Surgery Centers
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa.
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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