15.08.2022 17:30

Global Ventricular Assist Devices Market to Grow at a Substantial CAGR of 8.12%, Reaching Almost USD 3 Billion by 2027, Asserts DelveInsight

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Ventricular Assist Devices market is expected to grow in the coming years owing to the increasing prevalence of heart failure and cardiovascular diseases due to obesity, age, & unhealthy lifestyles and rising demand for organ transplants due to increasing prevalence of chronic ailments such as hypertension, diabetes, and others.

LAS VEGAS, Aug. 15, 2022 /PRNewswire/ -- DelveInsight's Ventricular Assist Devices Market Insights and Forecast report provides the current and forecast Ventricular Assist Devices Market, upcoming innovations in the devices, individual market shares, challenges, drivers and barriers, market trends, and key competitors in the Ventricular Assist Devices Market. 

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Some of the essential takeaways from the Ventricular Assist Devices Market report: 

  • As per DelveInsight analysis, in terms of revenue share, North America is predicted to register the fastest growth in the Ventricular Assist Devices market.
  • Some of the Global Ventricular Assist Devices Device companies with access devices in various stages of development include Abiomed, Inc., Asahi Kasei Corporation (Evaheart Medical U.S.A., Inc.), Abbott Laboratories (St. Jude Medical, Inc), Berlin Heart GmbH, Jarvik Heart, Inc., Medtronic Plc., Terumo Corporation, Evaheart, Inc., Calon Cardio, SynCardia Systems LLC, Cardiobridge Gmbhand, LivaNova, Inc., Cirtec, CorWave SA, FineHeart, ReliantHeart Inc., and others.
  • DelveInsight analysis states that the Global Ventricular Assist Devices market was valued at USD 1,956.30 million in 2021, growing at a CAGR of 8.12% during the forecast period from 2022 to 2027 to reach USD 3,105.18 million by 2027.
  • In January 2022, the School of Medical Research and Technology (SMRT) of IIT Kanpur launched Hridyantra, a challenge-based program to develop an advanced artificial heart also called Left Ventricular Assist device (LVAD) for patients with end-stage heart failure.
  • In June 2021, Abbott, a global healthcare leader, announced that the company has the capacity and supply to effectively support the growing demand for mechanical circulatory support (MCS) devices for the effective treatment of advanced heart failure.
  • In February 2020, Abbott, a global healthcare leader that helps people live more fully at all stages of life, announced that the company has received Breakthrough Device designation from the U.S. Food and Drug Administration (FDA) for its in-development Fully Implantable Left Ventricular Assist System (FILVAS).

To pick on the latest highlights related to the Ventricular Assist Devices implantable device market, get a snapshot of the key highlights entailed in the Ventricular Assist Devices Market Sample Report

Ventricular Assist Devices Overview 

A Ventricular Assist Device, also known as a mechanical circulatory support device, is a medical device that helps pump blood from the lower chambers of your heart (ventricles) to the rest of the body. It is an electromechanical device used for assisting cardiac circulation, which is used either to partially or completely replace the function of a failing heart.

Ventricular Assist Devices Market Insight 

Geographically, the Global Ventricular Assist Devices market is studied for North America, Europe, Asia-Pacific, and the Rest of the World. Regarding revenue, North America accounts for the highest revenue share compared with the Global Ventricular Assist Devices market, which will remain constant during the forecast period. The domination of North America is due to the Increasing prevalence of heart failure and other cardiovascular diseases; an increasing number of the geriatric population susceptible to chronic medical ailments such as diabetes, neurological disorders, and cardiovascular diseases will propel the Ventricular Assist Devices in North America, leading to a rise in the overall Ventricular Assist Devices market growth in this region.

Another factor responsible for increasing the product demand is the technological advancements in medical devices. Various features like infection control properties and incorporation of artificial intelligence in the device will increase the demand for Ventricular Assist Devices in North America. All the features are making the devices more and more convent and easy to use, thereby bolstering the Ventricular Assist Devices market.

Click here to understand more about the key players in the Ventricular Assist Devices Market and their future @Ventricular Assist Devices Future Assessment

Ventricular Assist Devices Market Dynamics 

The Ventricular Assist Devices market is witnessing positive market growth owing to the increasing prevalence of heart failure and other cardiovascular diseases, an increasing number of the geriatric population susceptible to chronic medical ailments such as diabetes, neurological disorders, and cardiovascular diseases will propel the Ventricular Assist Devices in the market. Also, the product launches in the local market and continuous government support, in turn, will drive the product demand in the Ventricular Assist Devices market. Moreover, the rising demand for organ transplants due to chronic ailments and the technological advancements like infection control properties and incorporation of artificial technology in the world are anticipated to pay way to a rise in demand for Ventricular Assist Devices, in turn increasing the Ventricular Assist Devices market growth.

However, the high cost of the device and side effects associated with the device, such as bleeding complications and ischemic & hemorrhagic stroke, may pose a challenge to the Ventricular Assist Devices market growth. Also, the ongoing COVID-19 pandemic has negatively impacted the market for Ventricular Assist Devices as elective surgeries were not performed for some time. The admission and treatment of COVID-19 patients were at utmost priority as compared to other disorders. Moreover, there was a disruption in the supply chain leading to the unavailability of raw materials and halting the manufacturing process. This led to an increase in the shortage of devices in the market, hampering the overall market growth. But, with the return of normalcy and masses being vaccinated, the market has again picked up momentum.

To gain a better understanding of the COVID-19 impact on Ventricular Assist Devices, get a snapshot of the COVID-19 Impact on the Ventricular Assist Devices Market

Scope of the Ventricular Assist Devices Market Report

  • Coverage: Global
  • Study Period: 2019-2027
  • Market Segmentation By Product - Left Ventricular Assist Devices, Right Ventricular Assist Devices, And BiVentricular Assist Devices
  • Market Segmentation By Application Type - Bridge-To-Transplant [Btt], Destination Therapy, And Others
  • Market Segmentation By Design Type - Transcutaneous Ventricular Assist Devices And Implantable Ventricular Assist Devices
  • Market Segmentation By Type of Flow - Pulsatile Flow And Continous Flow
  • Market Segmentation By End-User- Hospital And Clinics, Ambulatory Surgical Centers, And Others
  • Market Segmentation By Geography - North America, Europe, Asia-Pacific, and Rest of the   World
  • Key Ventricular Assist Devices Companies - Abiomed, Inc., Asahi Kasei Corporation (Evaheart Medical U.S.A., Inc.), Abbott Laboratories (St. Jude Medical, Inc.), Berlin Heart GmbH, Jarvik Heart, Inc., Medtronic Plc., Terumo Corporation, Evaheart, Inc., Calon Cardio, SynCardia Systems LLC, Cardiobridge Gmbhand, LivaNova, Inc., Cirtec, CorWave SA, FineHeart, ReliantHeart Inc., among others.
  • Product Profiles, Case Studies, KOL's Views, Analyst's View

Delveinsight Analysis: The Global Ventricular Assist Devices market was valued at USD 1,956.30 millionin 2021, growing at a CAGR of 8.12% during the forecast period from 2022 to 2027 to reach USD 3,105.18 million by 2027.

Know more about which MedTech player is set to emerge as the trendsetter in the Global Ventricular Assist Devices Market @ Key Ventricular Assist Devices Companies Analysis 

Table of Contents 

1

Ventricular Assist Devices Market Report Introduction

2

Ventricular Assist Devices Market Executive summary

3

Ventricular Assist Devices Market Regulatory and Patent Analysis

4

Ventricular Assist Devices Market Key Factors Analysis

5

Ventricular Assist Devices Porter's Five Forces Analysis

6

COVID-19 Impact Analysis on Ventricular Assist Devices Market

7

Ventricular Assist Devices Market Layout

8

Ventricular Assist Devices Market Global Company Share Analysis – Key 3-5 Companies

9

Ventricular Assist Devices Market Company and Product Profiles

10

Project Approach

11

KOL Views

12

DelveInsight Capabilities

13

Disclaimer

14

About DelveInsight

Learn more about the Ventricular Assist Devices  @ Ventricular Assist Devices Regulatory Landscape

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Cardiac Assist Devices Market 

Global Cardiac Assist Devices Market report delivers an in-depth understanding of Global Cardiac Assist Devices and the historical and forecasted Global Cardiac Assist Devices market trends, market drivers & barriers, unmet needs, and key companies involved such as Abbott Laboratories, Teleflex Incorporated, SynCardia Systems, LLC, St. Jude Medical Inc, CARMAT, CorWave SA, Medtronic PLC, Terumo Heart, NovaPump GmbH, Getinge AB Balton Ltd, Meril Life Sciences Pvt. Ltd, Thoratec Corporation, and others.

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About DelveInsight

DelveInsight is a leading Business Consultant and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance. 

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