Ventricular Assist Devices Market Set to Register 10.5% CAGR During 2018-2024: Medtronic, Evaheart, Maquet, Abbott, Abiomed, Berlin Heart, Bivacor, Jarvik Heart, Terumo Corporation

The newly released research at Market Study Report LLC titled “2018-2024 Global Ventricular Assist Devices Market Report” provides data, information, brief analysis, company profiles, statistics for past years and forecasts for next few years.

U.S. ventricular assist devices market is estimated to grow at robust CAGR of 9.8% over the forecast timeframe. As per the American College of Cardiology, around 800,000 die in the U.S. because of cardiovascular diseases. Growing prevalence of CVD diseases, rise in sedentary lifestyle among the people, growing heart failure rate among the Americans and recent technological advancements will be a major market driving factor in the country.

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Ventricular Assist Devices Market will exceed USD 2.0 billion by 2024; as per a new research report. Recent rise in awareness about the emerging treatment and use of ventricular assist devices for heart failure in the developing region of Latin America will drive the industry growth in the near future. Growing mortality rates and hospitalization in the Latin America region due to high prevalence of heart failure rates will enhance the growth of ventricular assist devices market growth in the forthcoming years.

Lack of heart donors across the globe will be one of the major market boosting factors. According to a recent research survey, it was found that heart donation shortage is likely to increase in the near future with heart failure rate prevalence increasing multifold and heart donors growing steadily. The high prevalence of heart failure across the globe and shortage of heart donors will lead to increase in demand and adoption rate of ventricular assist devices, fueling the market growth.

Ventricular assist devices being very complicated and critical devices that are used in the treatment of end-stage heart failure in patients, strict medical rules and regulations are needed to be followed by the manufacturers. Hence, stringent rules and regulations will decline the adoption of devices hampering the market growth in the near future.

Japan dominated the Asia Pacific ventricular assist devices market and was valued around USD 22.0 million in the year 2017. According to recent study, the prevalence of CVD and heart failure in the people have increased at a significant rate in the past few years. The growing geriatric population prone to lifestyle diseases such as cardiovascular diseases will be responsible for the growth of ventricular assist devices in the region.

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Percutaneous ventricular assist device market held significant amount of market share and was valued around USD 99.9 million in the year 2017. Increase in number of right ventricle failure rates has led to growing use of percutaneous VAD. Several advantages provided by percutaneous VAD such as safety, easy to implant and high reliability for survival will increase the demand and adoption rate of the device, augmenting the market growth.

Bridge-to-transplant (BTT) therapy market is estimated to grow substantially at a CAGR of 10.4% during the forecast period. As per the recent research reports, BTT-VAD therapy is associated with increase in patient?s survival rate and cost-effectiveness. Hence, decreased treatment and device cost will increase the adoption rate of device in the low and middle income population, fueling the business growth in the upcoming years.

Some of the leading players in the ventricular assist devices market include Abbott, Abiomed, Berlin Heart, Bivacor, CardiacAssist, Inc., Evaheart, Maquet, Jarvik Heart, Medtronic, Terumo Corporation and others. These companies focus on strategic decisions such as partnerships and collaborations to increase the research and development investment and expand their product portfolio. Merger and acquisitions have resulted in the company?s geographical expansion and boosted their efficiency to sustain in the market by providing better products.

Table of Content:

Chapter 1. Methodology

1.1. Methodology

1.2. Market definition

1.3. Forecast parameters

1.4. Data sources

1.4.1. Secondary

1.4.1.1. Paid sources

1.4.1.2. Unpaid sources

1.4.2. Primary

Chapter 2. Executive Summary

2.1. Ventricular assist devices industry 360 degree synopsis, 2013 - 2024

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Application trends

2.1.4. Age group trends

2.1.5. Regional trends

Chapter 3. Ventricular assist devices Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024

3.3. Industry impact forces

3.3.1. Growth drivers

3.3.1.1. Increase in number of heart failures and cardiovascular diseases in Europe

3.3.1.2. Technological advancements in North America

3.3.1.3. Growing geriatric population in Asia Pacific

3.3.1.4. Rise in awareness regarding heart failure treatment in Latin America

3.3.1.5. Decrease in number of heart donors across the globe

3.3.2. Industry pitfalls & challenges

3.3.2.1. High cost of the device and procedure

3.3.2.2. High health risk associated with product and procedures

3.3.2.3. Stringent regulatory regulations

3.4. Growth potential analysis

3.4.1. By product

3.4.2. By application

3.4.3. By age group

3.5. Regulatory landscape

3.5.1. U.S.

3.5.2. Europe

3.6. Technology landscape

3.7. Left ventricular assist devices properties

3.8. Global prevalence of cardiovascular diseases, 2017

3.9. Global heart transplantation scenario

3.10. Porter's analysis

3.11. Competitive landscape, 2017

3.11.1. Business overview

3.11.2. Revenue analysis

3.11.3. Product landscape

3.11.4. Strategy dashboard

3.12. PESTEL analysis

Chapter 4. Ventricular assist devices Market, By Product

4.1. Global ventricular assist devices market share, by product, 2017 & 2024

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Related Report:

Global (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Ventricular Assist Devices Market 2018, Forecast to 2023

Ventricular assist device, which is also known as VAD, is a mechanically assisted pump which is being used to support heart function and flow of blood in people who have weakened hearts. Ventricular assist device works by taking blood from a lower chamber of the heart and helps pump it to the body & organs similar to a healthy heart. A VAD supports patient?s heart through or after surgery until the heart recovers, while patient is waiting for a heart transplant or if patient is not eligible for a heart transplant. A VAD can also be a long-term solution for patients with cardiac disorders.

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