The increase in prevalence of heart failure, technological advancements in the field of medical devices, the surge in patient awareness about ventricular assist devices, and the new product launches and approvals in VADs drive the global ventricular assist devices market.
PORTLAND, Ore., March 22, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Ventricular Assist Devices Market by Product (Left Ventricular Assist Devices (LVADs), Right Ventricular Assist Devices (RVADs), Biventricular Assist Devices (BIVADs)), by Application (Bridge-To-Transplant (BTT), Destination Therapy, Bridge-To-Recovery (BTR), Bridge To Candidacy Therapy), by Design (Transcutaneous Ventricular Assist Devices, Implantable Ventricular Assist Devices), by Age (Adults, Pediatrics): Global Opportunity Analysis and Industry Forecast, 2021-2031” According to the report, the global ventricular assist devices industry was valued at $1.33 billion in 2021 and is estimated to generate $2.88 billion by 2031, witnessing a CAGR of 7.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Download a Sample Copy of this Report- https://www.alliedmarketresearch.com/request-sample/2024
Drivers, Restraints, and Opportunities
The increase in prevalence of heart failure, technological advancements in the field of medical devices, and the surge in patient awareness about ventricular assist devices drive the ventricular assist devices market. However, the high cost of devices and procedures hinder the global market growth. On the other hand, growth & innovations in the healthcare industry, significant investments by government to improve healthcare infrastructure, development of the medical tourism industry in emerging countries, a rise in incidence of cardiovascular diseases, and the new product launches and product approvals in VADs by the public and private players will present new growth opportunities for the global ventricular assist devices market in the coming years.
Impact of Covid-19 on Ventricular Assist Devices Market:
- The COVID-19 pandemic outbreak had a negative impact on the global ventricular assist devices market. It had a significant effect on patients, including those who were waiting for transplantation. The number of surgeries performed during the pandemic came down due to reduced patients visits to hospitals for diagnosis and treatment of diseases other than COVID-19.
- These challenges regarding survival and safety also impacted the recovery teams, organ procurement organizations, and donors as well as the recipients.
- However, the ventricular assist devices market has recovered post the pandemic.
Procure Complete Report (316 Pages PDF with Insights, Charts, Tables, and Figures)
https://www.alliedmarketresearch.com/checkout-final/ventricular-assist-devices-market
The left ventricular assist devices (LVADs) segment to dominate the market during the forecast period
Based on product, the left ventricular assist devices (LVADs) segment contributed to the largest share of more than three-fourths of the global ventricular assist devices market in 2021 and would dominate the market during the forecast period. The same segment is expected to witness the fastest CAGR of 8.3% from 2022 to 2031. This is because these devices are used more commonly than right ventricular assist devices (RVADs), as the left ventricle is the main pumping chamber of the heart and providing support to it can have a significant impact on the overall heart function.
The implantable ventricular assist devices segment to achieve the highest revenue during the forecast period
Based on design, the implantable ventricular assist devices segment grabbed the highest share of more than 90% of the overall ventricular assist devices market in 2021 and is projected to maintain its dominance in 2031. The same segment is expected to witness the fastest CAGR of 8.1% from 2022 to 2031. This growth is attributed to the technological advancements in the field of VADs and a rise in research activities to develop efficient and high quality implantable ventricular assist devices.
For Purchase Inquiry- https://www.alliedmarketresearch.com/purchase-enquiry/2024
North America to achieve the largest revenue by 2031
Based on region, the market in North America was the largest in 2021, accounting for nearly half of the global ventricular assist devices market and is expected to dominate the market through 2031. This is owing to the rise in prevalence of heart failure, high adoption of technologically advanced ventricular assist devices, and developed healthcare infrastructure in the region. However, the market in Asia-Pacific is likely to dominate in terms of revenue and show the fastest CAGR of 11.1% during the forecast period. This is owing to the surge in demand for sophisticated ventricular assist devices, large number of healthcare reforms, high prevalence of cardiac disorders, and increase in focus of key players to develop technologically advanced & cost-effective devices in the region.
Leading Market Players
- Evaheart Inc.
- Abiomed Inc.
- Abbott Laboratories
- CH Biomedical Inc.
- Carmat SA
- Calon Cardio-Technology Ltd.
- Bivacor Inc.
- LivaNova PLC
- Berlin Heart GmbH
- Fineheart
- AdjuCor GmbH
- NuPulseCV Inc.
- Jarvik Heart Inc.
- SynCardia Systems LLC
- Corewave SA
- Windmill Cardiovascular Systems
The report analyzes these key players of the global ventricular assist devices market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Some Trending Reports in Healthcare Industry:
Dental Restoration Market- Opportunity Analysis and Industry Forecast, 2022–2031
Angiography Devices Market- Opportunity Analysis and Industry Forecast, 2022–2031
Interventional Oncology Market – Global Opportunity Analysis and Industry Forecast, 2022–2031
Inflammatory Bowel Disease Drugs Market- Global Opportunity Analysis and Industry Forecast, 20222–2031
Healthcare Fraud Detection Market – Global Opportunity Analysis and Industry Forecast, 2022–2031
AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
SOURCE Allied Market Research
