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Ventricular Assist Device Market analysis, Size, applications share, trends and Forecast 2021-2031 | ReliantHeart Inc., Abbott Laboratories, and Terumo Medical Corporation
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Key Trends
The key trends in Ventricular Assist Device technology are miniaturization, wireless connectivity, and artificial intelligence.
Miniaturization: There is a trend towards smaller and more compact ventricular assist devices. This is driven by advances in manufacturing and materials technology, which allow for smaller devices with more features.
Wireless connectivity: Another trend is toward wireless connectivity. This allows for easier patient monitoring and data collection. It also allows for remote control of the device, which can be useful in emergency situations.
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Artificial intelligence: Another trend is the use of artificial intelligence in ventricular assist devices. This can be used to improve the efficiency of the device and to make it easier to use.
Key Drivers
The key drivers of the ventricular assist device market are the increasing prevalence of cardiovascular diseases and the rising geriatric population. The other drivers include the technological advances in the field of medical devices and the increasing awareness about the benefits of these devices.
The prevalence of cardiovascular diseases is increasing globally due to the sedentary lifestyle and unhealthy diets. The rising geriatric population is also a major driver of the market as the elderly are more susceptible to cardiovascular diseases.
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The technological advances in the field of medical devices have led to the development of more sophisticated and efficient ventricular assist devices. The increasing awareness about the benefits of these devices is also fueling the growth of the market.
Market Segmentation
The ventricular assist device market is segmented on the basis of product, application, design, and region. On the basis of product, it is divided into left ventricular assist devices (LVADs), right ventricular assist devices (RVADs), and biventricular assist devices (BIVADs).
By application, the market is classified into bridge-to-transplant (BTT) therapy, destination therapy, bridge-to-recovery (BTR) therapy, and bridge-to-candidacy (BTC) therapy. By design, the market is bifurcated into transcutaneous and implantable ventricular assist devices. Region-wise, the ventricular assist devices market is analyzed across North America, Europe, Asia-Pacific and rest of the world.
Key Players
The key players that operate in the global ventricular assist devices market include Abiomed, Inc., Berlin Heart GmbH, Boston Scientific Corporation, Calon Cardio, Jarvik Heart, Inc., LivaNova PLC, Medtronic plc, ReliantHeart Inc., Abbott Laboratories, and Terumo Medical Corporation.
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