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Left Ventricular Assist Devices Market 2024-2033: Competitor Assessment, Industry Size And Major Players
Left Ventricular Assist Devices Market
The Business Research Company offers in-depth market insights through Left Ventricular Assist Devices Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The left ventricular assist devices market size has grown strongly in recent years. It will grow from $1.5 billion in 2023 to $1.64 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to post-market surveillance and data, reduction in device size and noise, awareness and education programs, increased physician experience, adoption in bridge therapy..
The left ventricular assist devices market size is expected to see strong growth in the next few years. It will grow to $2.3 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to expanded indications, rise in heart failure cases, enhanced patient outcomes, market approval and regulatory changes, focus on destination therapy.. Major trends in the forecast period include advancements in implantation techniques, development of dual-pump systems, growing use as a destination therapy, focus on minimizing infection risks, integration with heart failure management programs, improved anticoagulation management..
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Market Segmentation:
The left ventricular assist devices market covered in this report is segmented -
1) By Type: Transcutaneous Left Ventricular Assist Devices, Implantable Left Ventricular Assist Devices
2) By Type of Flow: Pulsatile, Non-Pulsatile
3) By Application: Bridge-to-Recovery (BTR) Therapy, Bridge-to-Transplant (BTT) Therapy, Destination Therapy, Bridge-to-Candidacy (BTC) Therapy
4) By End-user: Cardiology Centers, Hospitals
Major Driver - Elevated Cardiovascular Disease Rates Propel Left Ventricular Assist Device Market
The rising prevalence of cardiovascular diseases is expected to propel the growth of the left ventricular assist device market going forward. Cardiovascular diseases refer to a group of disorders of the heart and blood vessels. It includes coronary heart disease, congenital heart disease, and others. In the case of advanced heart failure, a left ventricular assist device assists the heart's left ventricle, which pumps blood to the body's tissues. For instance, in October 2022, according to the World Heart Federation (WHF), a Switzerland-based non-governmental organization, the number of cardiovascular diseases (CVD) deaths is projected to rise from an estimated 18,9 million in 2020 to over 22,2 million in 2030. Furthermore, in December 2022, according to data published by New York government, in the United States, heart disease claims the lives of about 697,000 people annually, or 1 in every 5 fatalities where around 805,000 Americans experience a heart attack each year among which 605,000 of these result in a first-time heart attack, while 200,000 are caused by previous heart attacks. Therefore, the rising prevalence of cardiovascular diseases is driving the growth of the left ventricular assist device market.
Competitive Landscape:
Major companies operating in the left ventricular assist devices market report are Abbott Laboratories, Medtronic plc., Terumo Corporation, St. Jude Medical, MAQUET GmbH & Co., Saft, LivaNova Plc, Thoratec Corporation, Abiomed Inc, Heart Ware International Inc., Transonic Systems, Berlin Heart GmbH, BioVentrix, Cleveland Heart Inc., Jarvik Heart Inc., CorWave SA, SynCardia Systems LLC, NuPulseCV Inc., Fineheart, Procyrion Inc, Carmat SA, BiVACOR Inc, Cardiac Assist Inc., Leviticus Cardio Ltd., AdjuCor GmbH, Calon Cardio-Technology Ltd, Evaheart Inc., Sunshine Heart Inc., CH Biomedical Inc., Sun Medical Technology Research Corp
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Top Trend - Technological Advancements Driving The Left Ventricular Assist Device Market
Technological advancements are a key trend gaining popularity in the left ventricular assist device market. Major companies operating in the left ventricular assist devices market are adopting new technologies to sustain their position in the market. For instance, in January 2021, CorWave SA, a France-based medical device company developing innovative heart pumps, developed left ventricular assist device (LVAD) membrane pump technology. This membrane based LVAD employs a pulse pump (electromagnetic pulses) rather than a rotary pump to flow blood, closely mimicking the action of a heartbeat. It produces a pulsatile pumping activity far more like the natural heart.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Left Ventricular Assist Devices Market Characteristics
3. Left Ventricular Assist Devices Market Trends And Strategies
4. Left Ventricular Assist Devices Market - Macro Economic Scenario
5. Left Ventricular Assist Devices Market Size And Growth
…..
27. Left Ventricular Assist Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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