The latest report published by IMARC Group, titled “Ventricular Assist Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on ventricular assist devices industry size. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global ventricular assist devices market size reached US$ 1.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.1 Billion by 2032, exhibiting a growth rate (CAGR) of 8.5% during 2024-2032.
Ventricular Assist Devices Market Trends:
The global market is primarily driven by the increasing prevalence of cardiovascular diseases, including heart failure, as these conditions often necessitate advanced treatment options. In accordance with this, continual technological advancements in medical devices are leading to the development of more efficient and safer VADs, enhancing patient outcomes and driving market demand.
Furthermore, the aging global population, which is more susceptible to cardiac conditions, is contributing to the market growth. Similarly, improved patient survival rates and quality of life with VAD implantation are encouraging healthcare providers to adopt these devices more widely. Moreover, rising awareness about advanced cardiac care among patients and healthcare professionals is also propelling the market forward. Additionally, increasing government and private sector investments in healthcare infrastructure and innovation are enhancing the market appeal.
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Ventricular Assist Devices Market Scope and Growth Analysis:
The scope of the market is expected to witness substantial growth as technological innovations continue to improve the performance, durability, and safety of VADs. The increasing focus on developing minimally invasive surgical techniques for VAD implantation is enhancing patient recovery times and broadening the market’s scope.
Furthermore, the growing prevalence of heart failure worldwide, coupled with better diagnostic capabilities, is increasing the number of patients eligible for therapy. As per market analysis, the rapid development of next-generation VADs that offer reduced complication rates and enhanced portability is also fueling the market scope. The rapid expansion of healthcare facilities, particularly in developing regions, is enhancing access, further augmenting market demand. Besides this, the growing number of clinical studies demonstrating the efficacy and safety of the product in treating heart failure patients is fostering confidence and adoption among medical professionals.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Abbott Laboratories
- Abiomed Inc.
- Berlin Heart GmbH (Syscore GmbH)
- Bivacor Inc.
- Calon Cardio
- Cardiacassist Inc. (LivaNova PLC)
- CHF Solutions Inc.
- Jarvik Heart Inc.
- MAQUET GmbH (Getinge)
- Medtronic Inc.
- Syncardia Systems LLC (Versa Capital Management LLC)
- TandemLife (LivaNova PLC)
- Terumo Corporation
Ventricular Assist Devices Market Segmentation:
Our report has categorized the market based on region, product, flow type, product type, application, and end user.
Breakup by Product:
- Left Ventricular Assist Device (LVAD)
- Right Ventricular Assist Device (RVAD)
- Biventricular Assist Device (BiVAD)
- Others
Breakup by Flow Type:
- Pulsatile Flow
- Non-Pulsatile or Continuous Flow
Breakup by Product Type:
- Implantable Ventricular Assist Devices
- Non-implantable Ventricular Assist Devices
Breakup by Application:
- Bridge-to-Transplant (BTT) Therapy
- Destination Therapy
- Bridge to Recovery and Bridge to Candidacy
Breakup by End User:
- Ambulatory Surgery Centers
- Hospital
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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