Cardiac Assist Devices Market to Achieve Remarkable Growth Through 2031 with a Strong Focus on Minimally Invasive Devices and Enhancing Heart Failure Treatments

Insightace Analytics Pvt. Ltd. announces the release of a market assessment report on the "Global Cardiac Assist Devices Market- by Modality (Transcutaneous and Implantable), Products (Ventricular Assist Device (VAD) and Intra-Aortic Balloon Pump), End-User (Hospital and Ambulatory Surgical Centers), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

The Cardiac Assist Devices Market is expected to grow at an 8.0 % CAGR during the forecast period for 2023-2031.

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Cardiac assist devices, also known as mechanical pumps, are designed to support the heart's ability to pump blood more efficiently and maintain optimal blood flow throughout the body. These devices are typically employed in patients with congestive heart failure when pharmaceutical treatments are no longer effective. The primary cause of heart failure is the deterioration of the heart's muscle tissue, which impairs its ability to supply sufficient blood to the body. While heart transplantation remains a potential treatment option, the decline in the availability of heart donors has led to an increased demand for cardiac assist devices.

The market for these devices is expected to expand significantly in the coming years, driven by the rising demand for effective solutions to heart failure. Advances in ventricular assist device (VAD) technology, powered by innovations such as artificial intelligence and the Internet of Things, have substantially increased their usage. Leading market players are intensifying their research and development efforts to meet the growing demand, with a focus on creating smaller centrifugal pumps that facilitate less invasive insertion procedures. The ongoing development of unique and efficient cardiac assist devices is supported by robust R&D programs from industry leaders.

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Additionally, the increasing prevalence of severe heart disease, coupled with an aging global population and a shortage of heart transplant donors, is expected to drive the adoption of cardiac assist devices in the coming years. However, the market is likely to face challenges due to intense competition among existing market players, treatment complexities, and a lack of awareness, particularly in rural and underserved regions of developing countries.

North America is projected to remain a dominant market for cardiac assist devices, driven by the rising incidence of heart failure, growth in the healthcare sector, and increased government investment in healthcare infrastructure. The Asia-Pacific region is also expected to experience significant market growth, particularly in countries such as China, India, and Brazil, where awareness of heart disease and treatment options is increasing. The growing collaboration between major industry players in these regions will further contribute to the expansion of the global cardiac assist device market.

Major market players operating in the cardiac assist devices market include Terumo Heart, Inc., Nova Pump GmbH, Getinge AB, Belton Ltd., Meryl Life Sciences Pvt. Ltd., Throated Corporation, Cardiac Assist, Inc., and Berlin Heart G.

Recent collaborations and agreements in the market:
• In October 2021, SynCardia, a manufacturer of whole artificial hearts, was purchased by Picard Medical. As a result of the acquisition, SynCardia will be able to strengthen its current products, improving clinical support for clinicians. Also, it will make it possible for the business to request authorization to use its goods in novel ways.
• In March 2020, for patients nearing death from biventricular failure, the US FDA approved Nocardia Systems LLC's use of a 50CC temporary artificial heart system as a bridge to a heart transplant.

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Market Segments
Global Cardiac Assist Devices Market, by Modality, 2022-2030 (Value US$ Mn)
• Transcutaneous
• Implantable
Global Cardiac Assist Devices Market, by Products, 2022-2030 (Value US$ Mn)
• Ventricular Assist Device (VAD)
• Intra-Aortic Balloon Pump
Global Cardiac Assist Devices Market, by End-User, 2022-2030 (Value US$ Mn)
• Hospital
• Ambulatory Surgical Centers
Global Cardiac Assist Devices Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Cardiac Assist Devices Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Cardiac Assist Devices Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Cardiac Assist Devices Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Cardiac Assist Devices Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Cardiac Assist Devices Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global cardiac assist devices market
 To receive an industry overview and future trends of the cardiac assist devices market
 To analyze the cardiac assist devices market drivers and challenges
 To get information on the cardiac assist devices market value (US$Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the cardiac assist devices market industry

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