GLOBAL CIRCULATORY SUPPORT DEVICES MARKET - Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Press Release - 20 June 2018
Research and Development News --
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Latest Update "Circulatory Support Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025" with Industries Survey | Global Current Growth and Future.
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Circulatory support devices are used to overcome the condition of shock or hypotension. These are also required to prevent conditions in patients who are at a risk of organ failure. A shock is nothing but an acute circulatory failure with insufficient or inaptly distributed tissue perfusion that results in comprehensive cellular hypoxia. It is a life-threatening medical emergency.

A mechanical assistance is required for patients with advanced heart or pulmonary failure in order to keep their heart pumping enough blood. To fulfill this requirement, circulatory support devices are being used to complement or swap the action of the failing heart or lungs. It can be used either on a temporary basis or need to be integrated permanently inside the organ. Intensive care unit or high dependency areas are the best providers of such kind of circulatory support to patients in need.
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The global circulatory support devices market can be segmented based on product type and end-user. In terms of product type, the market can be categorized into ventricular assist device (VAD), extracorporeal membrane oxygenation (ECMO), and total artificial heart (TAH). A ventricular assist device is an embedded pump that supports the pumping action of heart’s ventricles.

The extracorporeal membrane oxygenation is used for patients with severe respiratory or cardiac failure, such as cardiac arrest, as an in-hospital mode of life support. Based on end-user, the global circulatory support devices market can be classified into hospitals and ambulatory surgical centers (ASCs). Large number of critically ill patients prefer hospitals over other health care centers because these offer several inpatient and outpatient cardiac services. The inflow of patients is expected to increase in hospitals during the forecast period, as these are considered to be more reliable, are associated with large number of suppliers, reimbursement authorities, and government organizations.

Increased incidence of congestive heart failure and heart attacks are being recorded each year in developed countries due to changing lifestyles and related diseases such as diabetes and thyroid disorders. Hence, the mortality rate among the affected individuals is increasing. Coronary heart disease and high blood pressure are other heart-related problems growing at a faster pace. Increasing prevalence of congestive heart failure is one of the major drivers of the global circulatory support devices market. Rise in number of patients suffering from congestive heart failure is driving the hospitalization rate and burden on society in terms of total expenditure across the globe. Most of these people belong to the age group of 65 and above. Patients with class III, IV, and stage C, D of congestive heart failure disorders are highly recommended to use circulatory support devices, which in return propels demand for these products.

Geographically, the global circulatory support devices market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global circulatory support devices market, with the U.S. accounting for a major market share. Manufacturers in the Americas are developing innovative products to cure congestive heart disorder by using advanced technologies. The safety and efficacy of these new products are being ensured by premarket approval through clinical trials. For instance, St. Jude Medical is focusing on obtaining the U.S. FDA approval for HeartMate 3 system by conducting IDE trial. Moreover, demand for circulatory support devices is increasing in the region due to rising government initiatives in order to provide cover to the growing population with congestive heart disease. Europe is considered to be the second largest market. However, the market in Asia Pacific is projected to expand at the highest CAGR during the forecast period due to factors such as governmental initiatives, increased awareness about cardiac safety, rise in focus of major players in India and China. Emerging markets with rapidly growing economies offer significant opportunities in the market because of changing lifestyle and increase in awareness among people.

Key players in the global circulatory support devices market are St. Jude Medical, Medtronic, ABIOMED, Reliant Heart, and Berlin Heart. Other prominent companies in the market include CorWave, CardiacAssist, Evaheart, Leviticus Cardio, Jarvik Heart, and Ventracor.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

- The study is a source of reliable data on:

Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis

- The regional analysis covers:

North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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- Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market   

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