Global Ventricular Assist Device Market was valued at US$ 2.10 Bn in 2019 and is expected to reach US$ 2.4 Bn by 2027, at a CAGR of 10.24 % during the forecast period.
Global Ventricular Assist Device Market Overview:
Ventricular assist devices are pumps, which are used to support cardiac circulation in patients who have weakened hearts. Growing occurrences of heart failure across the globe, innovative technological advancements in ventricular assist devices, increasing awareness among patients about monitoring of the heart, and lack of heart donors are some of the prominent factors behind the growth of the global ventricular assist device market.
The latest study from Maximize Market Research, Global Ventricular Assist Device Market 2021-2027, is helpful in understanding the market's competitors. The study takes a wide and basic look at the market, as well as a look into subjective variables that could give readers valuable business insights. The study includes a market overview that covers the value chain structure, regional analysis, applications, market size, and forecast (2021-2027). The study will be used to get a more accurate assessment of the existing and future state of the global Global Ventricular Assist Device market.
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Throughout the projected period, the study analyses a variety of factors, including worldwide Global Ventricular Assist Device market growth, consumer volume, market trends, and corporate pricing structures, in order to provide an analytical evaluation of the industry. The report provides in-depth analysis of the market's complexities. Market features, product differentiation analysis, market size, client landscape, and regional landscape are all included in the research. The report considers development direction, current trends, breakthroughs, predictions, and the competitive environment in its research. This market has been explored in a variety of categories based on profitability and industrial base.
Global Ventricular Assist Device Market Segmentation:
The left ventricular assist devices are expected to lead the global ventricular assist device market. The leading position in the market can be attributed to the growing number of patients who are suffering from last-stage heart failure, development in technology like effectiveness, high survival rate, and reduced risk of the devices. A growing number of patients suffering from cardiac complications like cardiomyopathy, stroke, and class III & class IV heart failure are likely to need a heart transplant.
Global Ventricular Assist Device Market Key Players:
• CardiacAssist, Inc.
• Berlin Heart GmbH
• Jarvik Heart, Inc.
• ABIOMED, Inc.
• Medtronic plc.
• Abbott Laboratories
• ReliantHeart Inc.
• Teleflex Incorporated
• Carmat SA
• Sun Medical Technology Research Corp.
• Bivacor
• Calon Cardio-Technology Ltd.
• LivaNova PLC
• Terumo Medical Corporation.
• Evaheart Medical USA, Inc.
• Fresenius Medical Care AG & Co. KGaA
• Maquet GmbH
• HeartWare International, Inc.
• Thoratec
• Cardiac Assist
It is then goes into great detail on the major rivals in the global Global Ventricular Assist Device market, as well as developing companies, including revenue, demand, high-quality product producers, sales, and service providers. The study also looks at capacity utilisation, raw material sources, import-export, the value chain, pricing structure, and the industrial supply chain. This report features the following players:
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Global Ventricular Assist Device Market Regional Analysis:
Based on various types of commodities, applications, end-users, and nations, among others, the research gives detailed insights into multiple development prospects and obstacles in the above-mentioned locations. Key elements of the global Global Ventricular Assist Device market, such as sales growth, product pricing and analysis, growth potential, and solutions for addressing market challenges in certain areas, are also included in the study.
COVID-19 Impact Analysis on Global Ventricular Assist Device Market:
COVID-19 is a global public health emergency that has damaged almost every firm, and the long-term effects are likely to have an impact on industry growth during the projection period. Our ongoing research widens our research methods to incorporate basic COVID-19 problems as well as possible future steps. The study considers changes in consumer behaviour and demand, purchasing patterns, the dynamics of modern market forces, and significant government efforts while analysing COVID-19. The updated research includes market insights, analysis, estimates, and predictions based on COVID-19's impact.
Key Questions Answered in the Global Ventricular Assist Device Market Report are:
- Who are the key players in the Global Ventricular Assist Device industry?
- In terms of the region, what is the potential market for Global Ventricular Assist Device?
- In the next five years, which application area of Global Ventricular Assist Device is likely to develop at a substantial rate in the market?
- What opportunities do new market entrants have?
- How big will the Global Ventricular Assist Device market be in 2027?
- What are the Global Ventricular Assist Device market's growth prospects?
- In the Global Ventricular Assist Device market report, what year is considered the base year?
- In the Global Ventricular Assist Device market, which region has the biggest market share?
- What elements do you think will drive the Global Ventricular Assist Device market?
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The global ventricular assist device market size is expected to reach USD 4.1 billion by 2027, according to a new report by Radiant Insights, Inc., registering a CAGR of 11.7% over the forecast period.
Increase in prevalence of cardiovascular diseases such as congenital heart diseases, heart failure, hypertension, ventricular septal defect, and stroke due to rise in adoption of unhealthy lifestyle habits such as physical inactivity, smoking, and alcohol consumption drives the demand for ventricular assist devices (VADs).
According to estimates published by the United Nations in 2012, the global geriatric population was nearly 809.4 million and is expected to witness a twofold increase by 2050 with an estimated population of over 2,000 million.
Geriatric population has a high risk of various cardiovascular diseases and a majority of them are expected to suffer from heart failure or stroke.
For instance, the United Kingdom National Health Service (UK NHS) financed a bridge-to-transplant (BTT) program in which left ventricular assist devices (LVADs) such as HeartMate II and HeartWare are used for treating patients.
The increasing patient pool for cardiovascular disorders, coupled with growing demand for mechanical assist devices, is expected to drive the demand for VADs over the forecast period.
