Cardiac Assist Devices Market worth $ 10.50 Billion by 2030

Insightace Analytics Pvt. Ltd. announces the release of a market assessment report on the "Global Cardiac Assist Devices Market- by Modality (Transcutaneous and Implantable), Products (Ventricular Assist Device (VAD) and Intra-Aortic Balloon Pump), End-User (Hospital and Ambulatory Surgical Centers), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

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According to the latest research by Insightace Analytics, the global cardiac assist devices market was valued at US$ 3.16 Billion in 2021. It is expected to reach US$ 10.50 Billion by 2030, with a CAGR of 14.47 % during a forecast period of 2022-2030.

Mechanical pumps are called cardiac assist devices to aid the heart's ability to pump more effectively and maintain an ideal level of blood flow throughout the body. Cardiac assist devices may be utilized for congestive heart failure patients when ineffective pharmaceutical treatment methods. The leading cause of heart failure is the heart's muscles deteriorating, which also prevents the heart from providing enough blood to the body as a whole. Heart transplantation is also an option in these situations, but as the number of heart donors is steadily declining, the need for cardiac assist devices is growing.

The market environment is becoming even more favourable for market growth in the coming years due to the rising demand for cardiac assist devices. Innovations in ventricular assist device technology brought about by cutting-edge technologies like artificial intelligence and the Internet of Things have significantly increased usage. Leading players have boosted their research and innovation due to the expanding demand for cardiac assist devices. Smaller centrifugal pumps would enable a less intrusive insertion method; thus, industry participants are continually attempting to manufacture them. Robust research and development programs focus on the market's major players as they work to create unique and efficient cardiac assist devices. Furthermore, the usage of cardiac assist devices in patients with severe heart diseases is expected to increase in the following years due to the world's aging population and a lack of heart transplant donors. In the subsequent years, however, the market for cardiac assist devices is projected to be constrained by intense competition among the market's current participants, treatment problems and severity, and a lack of awareness among the rural populace in developing and underdeveloped nations.

North America is anticipated to contribute to the significant cardiac assist devices market over the forecast years, ascribed to an increase in the prevalence of heart failure, the growth of the healthcare industry, and increasing government spending on the construction of healthcare facilities in these regions. In addition, the Asia Pacific cardiac assist devices market is expected to grow significantly. The demand for cardiac assist devices is anticipated to proliferate over the projected period in nations like China, India, and Brazil as more people become aware of heart diseases and how to treat them. Prominent industry players and growing cooperation among significant firms for market penetration in the region contribute to the global cardiac assist device market.

Major market players operating in the cardiac assist devices market include Terumo Heart, Inc., Nova Pump GmbH, Getinge AB, Belton Ltd., Meryl Life Sciences Pvt. Ltd., Throated Corporation, Cardiac Assist, Inc., and Berlin Heart G.

Recent collaborations and agreements in the market:
In October 2021, SynCardia, a manufacturer of whole artificial hearts, was purchased by Picard Medical. As a result of the acquisition, SynCardia will be able to strengthen its current products, improving clinical support for clinicians. Also, it will make it possible for the business to request authorization to use its goods in novel ways.
In March 2020, for patients nearing death from biventricular failure, the US FDA approved Nocardia Systems LLC's use of a 50CC temporary artificial heart system as a bridge to a heart transplant.

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Market Segments

Global Cardiac Assist Devices Market, by Modality, 2022-2030 (Value US$ Mn)
Transcutaneous
Implantable

Global Cardiac Assist Devices Market, by Products, 2022-2030 (Value US$ Mn)
Ventricular Assist Device (VAD)
Intra-Aortic Balloon Pump

Global Cardiac Assist Devices Market, by End-User, 2022-2030 (Value US$ Mn)
Hospital
Ambulatory Surgical Centers

Global Cardiac Assist Devices Market, by Region, 2022-2030 (Value US$ Mn)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

North America Cardiac Assist Devices Market, by Country, 2022-2030 (Value US$ Mn)
U.S.
Canada

Europe Cardiac Assist Devices Market, by Country, 2022-2030 (Value US$ Mn)
Germany
France
Italy
Spain
Russia
Rest of Europe

Asia Pacific Cardiac Assist Devices Market, by Country, 2022-2030 (Value US$ Mn)
India
China
Japan
South Korea
Australia & New Zealand

Latin America Cardiac Assist Devices Market, by Country, 2022-2030 (Value US$ Mn)
Brazil
Mexico
Rest of Latin America

Middle East & Africa Cardiac Assist Devices Market, by Country, 2022-2030 (Value US$ Mn)
GCC Countries
South Africa
Rest of Middle East & Africa

Why should buy this report:
To receive a comprehensive analysis of the prospects for the global cardiac assist devices market
To receive an industry overview and future trends of the cardiac assist devices market
To analyze the cardiac assist devices market drivers and challenges
To get information on the cardiac assist devices market value (US$Mn) forecast to 2030
Significant investments, mergers & acquisitions in the cardiac assist devices market industry

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