Ventricular Assist Devices Market to touch $2 bn by 2024| Key Players: Terumo Medical Corporation, Medtronic, Abiomed, LivaNova

Global Ventricular Assist Devices Market was valued over USD 1.0 billion in 2017 and is expected to witness more than 10.5% CAGR from 2018 to 2024. Increase in number of people suffering from heart failure and other cardiovascular diseases in European countries will be one of the major impact rendering factors for the growth of ventricular assist devices market in the forthcoming years. As per the statistics published by the European Heart Network, every year around 4 million people in Europe and over 2 million in Europe Union (EU) die because of several cardiovascular diseases. Increase in patients suffering from cardiovascular diseases leading to heart failure will lead to growing demand and adoption rate of ventricular assist devices, fueling the industry growth.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/3014

Technological advancements in the North America region has resulted in ventricular assist devices becoming an increasingly widespread and accepted therapy for patients suffering from high heart failure rate. Technological advances have led to improved durability of the devices’ implantability, extended support and also lengthened the survival rates in patients. Introduction of latest third generation left ventricular assist device employs magnetic levitation (MAGLEV) technology that allows rotation without wear and friction. Hence, growing technological advancements pertaining to ventricular assist devices in North America will boost the Ventricular Assist Devices Market growth.

Left VADs market | To be propelled by the lack of heart donors

Left VADs are increasingly becoming a prevalent treatment options for individuals suffering from Stage-D heart failure with a reduced ejection fraction. According to a report published on the Journal of the American College of Cardiology (JACC), owing to technological advancements, the devices are becoming more durable and reliable, significantly extending the prospects of survival in patients suffering from the ailments. Although there are adverse effects, the device greatly improves the quality of life, claim medical experts.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Terumo Medical Corporation
• Medtronic
• Abiomed
• LivaNova
• Berlin Heart GmbH
• BiVACOR Inc
• Cardiobridge GmbH
• Cardiokinetix
• Evaheart, Inc.
• Maquet Getinge Group
• HeartWare Inc
• ReliantHeart Inc.
• SynCardia Systems, LLC
• Kalila Medical (Abbott Laboratories)

Nonetheless, with an ongoing organ donor shortage experienced for cardiac transplantation, the Left VADs are increasingly becoming the go-to substitute for a full-fledged transplant, especially in elderly patients. Attributing to these inducing factors, the left Ventricular Assist Devices Market is projected to record a CAGR of about 10.6% over 2018-2024.

The populous Indian sub-continent is anticipated to crop up as another remunerative revenue pocket for ventricular assist devices market. Quite overtly, the growth across the country is powered by the extensive prevalence of cardiovascular disorders in the region. A report presented in the AHA Journals in 2016 claimed that premature mortality (in terms of years of life lost) on account of CVD in India surged by 59% – from 23.2 million in 1990 to 37 million in 2010. Even the World Health Organization declared that cardiovascular diseases are one of the major factors contributing to the cases of mortality across the region, that would quite overtly push the India VADs market size in the years to come.

U.S. VADs market | Impact of growing cardiovascular diseases on the regional industry growth

The United States ventricular assist devices market is touted to be largely driven by the growing number of cardiovascular disease CVD cases across the nation. According to a 2018 report by the American Heart Association, approximately 92.1 million adults across the U.S. are suffering from some form of CVD or the after-effects of a stroke. Around 2,300 Americans lose their lives to CVDs every day – an average one death every 38 seconds. The U.S. Centers for Disease Control & Prevention (CDC) lists high cholesterol, high blood pressure and smoking as the key risk factors leading to heart diseases, further specifying that approximately 47% of Americans are suffering from at least one of the three listed risk factors.

These conditions coupled with recent technological advancements across the nation as well as favorable reimbursement policies would be some of the major influencing parameters fueling the growth of the U.S. ventricular assist devices market. As a matter of fact, the U.S. ventricular assist devices industry size is projected to register a modest CAGR of 9.8% over 2018-2024.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/3014

Some of the leading key players in Ventricular Assist Devices Market include Abbott, Abiomed, Berlin Heart, Bivacor, CardiacAssist, Inc., Evaheart, Maquet, Jarvik Heart, Medtronic, Terumo Corporation and others. These companies focus and implement important strategic decisions such as mergers, acquisitions, partnerships and collaborations in order to expand their product portfolio and geographic reach. Also, new product launches and product innovation will benefit the companies in strengthening their market position. In July 2018, Medtronic announced the approval and launch of a new left ventricular assist devices in the U.S., that is less invasive and more beneficial to the patient.

Global Market Insights Inc. is a global market research and management consulting company catering to leading corporations, non-profit organizations, universities and government institutions. Our main goal is to assist and partner organizations to make lasting strategic improvements and realize growth targets. Our industry research reports are designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development.

Global Market Insights, Inc.
4 North Main Street
Selbyville, Delaware 19975 USA
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email:sales@gminsights.com

This release was published on openPR.