Mechanical Circulatory Support (MCS) Devices Market Was Valued at USD 1,164.3 Million in 2021 Owing to Rising Prevalence of Cardiovascular Disorders

According to Precision Business Insights (PBI) latest report, the global mechanical circulatory support (MCS) devices market is valued at USD 1,164.3 million in 2021. The global mechanical circulatory support (MCS) devices market is segmented into the following types: By Product Type (Ventricular Assist Devices, Left Ventricular Assist Devices (LVAD), Biventricular Ventricular Assist Devices (BIVAD), Right Ventricular Assist Devices (RVAD), Artificial Heart, Extracorporeal Membrane Oxygenation, and Intra-Aortic Balloon Pumps), By End-User (Hospitals, Ambulatory Surgical Centers, and Specialty Cardiology Centers), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East Africa) Forecast to 2028. Key player's profiles in the mechanical circulatory support (MCS) devices market report are Abbott Laboratories, Teleflex Incorporated, SynCardia Systems LLC, St. Jude Medical Inc, CARMAT, CorWave SA, Medtronic PLC, Terumo Heart, Inc, NovaPump GmbH, Getinge AB, Balton Ltd., Meril Life Sciences Pvt. Ltd, Thoratec Corporation. Due to factors such as rising cardiovascular disorders, heart failure cases, and increased use of technologically advanced mechanical circulatory support devices, demand for mechanical circulatory support devices will increase during the forecasting period, resulting in a rise in the overall mechanical circulatory support devices market growth. The high investment cost will hamper the market. Also, the lack of awareness among the people about mechanical circulatory support (MCS) devices acts as a growth restraint to the market.

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Surgical Segment Dominates the Mechanical Circulatory Support (MCS) Devices Market
The surgical segment generated the most income in 2021, owing to a number of patients with arrhythmia or an irregular heartbeat problem has resulted in a growth in demand for cardiac monitors. Moreover, increased technological advancements boost the growth of the segment. Also, governments aid in the research and development of these devices, further propelling the market growth of this segment.

North America Leads Mechanical Circulatory Support (MCS) Devices Market:
Due to a scarcity of heart donors, rising cases of cardiac disease, attractive reimbursement regulations, and technological improvements, North America has the greatest market share. Furthermore, the market is driven by FDA approvals for new indications and the increased usage of newer technologies in the region. Europe is expected to hold the second-largest share in the mechanical circulatory support (MCS) devices market.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global mechanical circulatory support (MCS) devices market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In June 2021, CARMAT, the designer and developer of the world's most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from end-stage biventricular heart failure, today announces the third implant of its Aeson® bioprosthetic artificial heart in a commercial setting.

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Detailed Segmentation
Based on the Product Type, the market is segmented into the following:
• Ventricular Assist Devices
• Left Ventricular Assist Devices (LVAD)
• Biventricular Ventricular Assist Devices (BIVAD)
• Right Ventricular Assist Devices (RVAD)
• Artificial Heart
• Extracorporeal Membrane Oxygenation
• Intra-Aortic Balloon Pumps

Based on the End-User, the market is segmented into the following:
• Hospitals
• Ambulatory Surgical Centers
• Specialty Cardiology Centers

Based on the geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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