Ventricular Assist Device market competitive and growth analysis 2023-2032 - major players, high growth strategies and opportunities | Abiomed, Abbott Laboratories, Medtronic, LivaNova PLC, Terumo Corporation.

As per The Business Research Company's Ventricular Assist Device Opportunities And Strategies Market Report 2023, The global ventricular assist device market reached a value of nearly $1,701.2 million in 2022, having grown at a compound annual growth rate (CAGR) of 9.3% since 2017. The market is expected to grow from $1,701.2 million in 2022 to $3,003.1 million in 2027 at a rate of 12.0%. The market is then expected to grow at a CAGR of 12.0% from 2027 and reach $5,295.8 million in 2032.

The increasing need for destination therapy, which refers to the use of permanently implanted left ventricular assist devices (LVAD) to treat patients with severe end-stage heart failure, is expected to be the major driver of the market. This can be attributed to the increased durability and hemocompatibility of LVAD support as a result of new technologies and novel management strategies. In addition, the low availability and high costs of organ transplants will make VAD a more accessible alternative for patients.

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Companies in the market are increasingly focusing on lengthening the effective life of ventricular assist devices (VADs) to improve patient survival rates. Recent major improvements in technology and in the understanding of risk profiles have led to the development of VADs with improved life. For instance, in 2001, two-year survival rate on an assist device was 23%, whereas the latest generation of LVAD (left ventricular assist devices) has a reported two-year survival rate of 79%, comparable to the rate for heart transplants (82%). The new HeartMate 3 LVAD, developed by Abbott, a US-based medical devices and healthcare company, is associated with a two-year survival rate of 83%.

The top opportunities in the ventricular assist device market segmented by product will arise in the left ventricular assist devices (LVADs) segment, which will gain $1,106.5 million of global annual sales by 2027. The top opportunities in the ventricular assist device market segmented by type will arise in the continuous flow segment, which will gain $1,157.8 million of global annual sales by 2027. The top opportunities in segment by design will arise in the implantable ventricular assist devices segment, which will gain $1,026.7 million of global annual sales by 2027. The top opportunities in segment by application will arise in the destination therapy segment, which will gain $587.0 million of global annual sales by 2027. The top opportunities in segment by end user will arise in the hospitals segment, which will gain $931.0 million of global annual sales by 2027. The ventricular assist device market size will gain the most in the USA at $1,053.1 million.

Ventricular Assist Device Market Segmentation:
The ventricular assist device market is segmented by product, by type, by design, by application and by end-users.
By Product-
a) Left Ventricular Assist Devices (LVADs)
b) Right Ventricular Assist Devices (RVADs)
c) Biventricular Assist Devices (BIVADs)

By Type-
a) Pulsatile Flow
b) Continuous Flow
By Design-
a) Transcutaneous Ventricular Assist Devices
b) Implantable Ventricular Assist Devices

By Application-
a) Bridge-To-Transplant (BTT) Therapy
b) Destination Therapy
c) Bridge-To-Recovery (BTR) Therapy
d) Bridge-To-Candidacy (BTC) Therapy

By End Users-
e) Hospital
f) Ambulatory Surgical Centers
g) Cardiology Centers

Major players in the Ventricular Assist Device market include Abiomed, Abbott Laboratories, Medtronic, LivaNova PLC, Terumo Corporation

The regions covered in the global Ventricular Assist Device market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Ventricular Assist Device Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Ventricular Assist Device Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
.....
19. Company Profiles
20. Key Mergers and Acquisitions
21. Opportunities And Strategies
22. Ventricular Assist Device Market, Conclusions And Recommendations
23. Appendix

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