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Ventricular Assist Device Market Growth Statistics, Regional Analysis, Top Players, Size, And Forecast To 2033
Ventricular Assist Device Market Growth
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
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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