Ventricular Assist Device Global Market is Projected to Increase Revenues Growth, Business Insights, Future Demand and Forecast 2024-2033 | Abiomed, Medtronic, LivaNova PLC, Terumo Corporation, Berlin Heart GmbH

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Ventricular Assist Device Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $3.5 billion In 2028 At A CAGR Of 12.6% :

The ventricular assist device market size has grown rapidly in recent years. It will grow from $1.92 billion in 2023 to $2.18 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period can be attributed to an increase in the prevalence of heart failure and a rise in demand for organ transplantation procedures..

The ventricular assist device market size is expected to see rapid growth in the next few years. It will grow to $3.5 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to the increasing need for destination therapy, aging population, increasing healthcare expenditure and a rise in awareness regarding heart failure treatment. Major trends in the forecast period include focus on lengthening effective life of vads, miniaturization of vads, advanced pump technologies, increased focus on vad safety and effectiveness, focus on reduction in side effects of vads and percutaneously inserted ventricular assist devices..

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Ventricular Assist Device Market Major Segments
The ventricular assist device market covered in this report is segmented -
1) By Product: Left Ventricular Assist Devices (LVADs), Right Ventricular Assist Devices (RVADs), Biventricular Assist Devices (BIVADs).
2) By Type: Pulsatile Flow, Continuous Flow
3) By Design: Transcutaneous Ventricular Assist Devices, Implantable Ventricular Assist Devices
4) By Application: Bridge-To-Transplant (BTT) Therapy, Destination Therapy, Bridge-To-Recovery (BTR) Therapy, Bridge-To-Candidacy (BTC) Therapy
5) By End Users: Hospital, Ambulatory Surgical Centres, Cardiology Centres

Key Driver - The Rising Prevalence Of Cardiovascular Disorders Propels Growth In Ventricular Assist Device Market

The increase in the prevalence of cardiovascular disorders is driving the growth of the ventricular assist device market. Cardiovascular disorders are heart diseases caused by high blood pressure, smoking, high cholesterol, inactivity, and other factors. The increase in the prevalence of cardiovascular disorders is also due to noncontagious diseases such as diabetes, chronic respiratory illness, and heart attacks due to hypertension. The significant increase in cardiovascular disorders is expected to boost demand for ventricular assist devices as they act as a vital support system for severely ill cardiac patients. For instance, in 2021, according to the World Health Organization, a Switzerland-based government agency, India would account for one-fifth of the total deaths occurring from stroke and ischemic heart disease, mainly in younger adults. In addition, around 12.1 million people in the U.S. are expected to suffer from atrial fibrillation (A-Fib) by 2030. Therefore, the increase in the prevalence of cardiovascular disorders is expected to boost demand for ventricular assist devices during the forecast period.

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Prominent Trend - Innovative Technologies Drive Technological Advancements In Ventricular Assist Device Market

Technological advancement is a key trend gaining popularity in the ventricular assist device market. The company operating in the ventricular assist device sector is focusing on developing next-generation ventricular assist devices to improve the function of blood circulation. Key players are focusing on developing ventricular assist devices with new technology to gain a competitive edge and strengthen their position in the market. For instance, in 2021, CorWave, a France-based medical technology company developed left ventricular assist device (LVAD) membrane pump technology. This LVAD based membrane pump technology utilizes a pulse pump (electromagnetic pulses) instead of a rotary pump to move blood and more closely encourages the movement of blood in a heart. It creates a pulsatile pumping action much more similar to the native heart.

Ventricular Assist Device Market Players
Major companies operating in the ventricular assist device market report are Abiomed, Abbott Laboratories, Medtronic, LivaNova PLC, Terumo Corporation, Berlin Heart GmbH, Cirtec, Jarvik Heart Inc., SynCardia Systems LLC., Calon Cardio-Technology Ltd, Huadong Medicine Co. Ltd, Shenzhen Hexin Zondan Medical Equipment Co. Ltd, Sun Medical Technology Research Corp., Boston Scientific Corporation, CorWave SA, CH Biomedical (USA) Inc, Evaheart Inc, BiVACOR Inc, ReliantHeart Inc, Cardiac Assist Inc, Heart Ware International, Braile Biomedica Ltd

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Largest And Fastest Growing Region In The Market
North America was the largest region in the ventricular assist device market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ventricular assist device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ventricular Assist Device Market Report Structure
3. Ventricular Assist Device Market Trends And Strategies
4. Ventricular Assist Device Market - Macro Economic Scenario
5. Ventricular Assist Device Market Size And Growth
…..
27. Ventricular Assist Device Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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