Global Ventricular Assist Devices Market Overview:
According to the latest report by IMARC Group, titled “Ventricular Assist Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global ventricular assist devices market size 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. A ventricular assist device (VAD), also called a mechanical circulatory support device, represents a mechanical pump that helps to transport blood from the lower chambers of the heart to all body parts. It comprises of three components, which include tubes, an electronic controller, and a power source. A ventricular assist device is implanted in patients for short-term treatments to support heart functions post-surgery. It finds various applications in the bridge-to-transplant (BTT), bridge-to-recovery (BTR), bridge-to-candidacy (BTC), and destination therapies. Ventricular assist devices are widely utilized in medical laboratories, research centers, hospitals, clinics, etc., across the globe.
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:
The growing incidences of several cardiovascular diseases and disorders, including hypertension, ventricular septal defect, heart failure, etc., are among the key factors driving the ventricular assist devices market. In addition to this, the limited number of existing heart donors is escalating the demand for VADs, which is further propelling the market growth. Moreover, various leading manufacturers in the healthcare industry are incorporating technological advancements, such as miniature devices with infection control technology, to address several complications, including the high risk of infection, thrombus formation, blood trauma, etc. This, in turn, is also positively influencing the global market. Apart from this, numerous clinical trials are being undertaken to enhance the survival rate of patients by improving the durability, functionality, efficiency, etc., of VADs, which is expected to fuel the ventricular assist devices market over the forecasted period.
Global Ventricular Assist Devices Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
- 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)
- Others
By Flow Type:
- Pulsatile Flow
- Non-Pulsatile or Continuous Flow
Breakup by Product Type:
- Implantable Ventricular Assist Devices
- Non-implantable Ventricular Assist Devices
By Application:
- Bridge-to-Transplant (BTT) Therapy
- Destination Therapy
- Bridge to Recovery and Bridge to Candidacy
Breakup by End-User:
- Ambulatory Surgery Centers
- Hospital
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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