Global Ventricular Assist Devices Market Size to exceed $2 bn by 2024

Ventricular assist devices market size is set to exceed USD 2.0 billion by 2024; according to a new research study published by Global Market Insights, Inc.
 

Recent technological advancements in the design and functioning of ventricular assist devices making it more efficient, risk-free and less invasive will lead to growing demand and adoption rate of the device. Improvements in the devices and the implantation procedures has reduced the health risk and increased the survival rate in patients. This rapid technological advancements will be one of the major factors for boosting the market growth in the near future.

 

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Growing geriatric population in developing nations of Asia Pacific region will be a significant market driving factor over the forecast timeframe. Cardiovascular diseases are one of the major causes of death in Asia Pacific countries and the growing geriatric population in the region will eventually increase the chances of people getting affected by end-stage heart failure. Hence, rise in the number of older population will result in augmenting the demand and adoption of ventricular assist devices, fueling the business growth.
 

Ventricular assist devices market

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The risks associated with the product and procedure will be one of the major market impeding factors. Patients with left ventricular assist devices have chances of health risks such as bleeding, infection, device pumping issues and right side heart failure. Such health risks will result in hampering the growth of ventricular assist devices market growth in future.
 

Browse key industry insights spread across 200 pages with 180 market data tables & 10 figures & charts from the report, “Ventricular Assist Devices Market Size By Product [Left ventricular assist devices (LVADs), Right ventricular assist devices (RVADs), Biventricular assist devices (BIVADs), Percutaneous Ventricular Assist Devices, Total Artificial Heart], By Application [Destination therapy, Bridge-to-candidacy (BTC) therapy, Bridge-to-transplant (BTT) therapy, Bridge-to-recovery (BTR) therapy], By Age [Below 18, 19-39, 40-59, 60-79, Above 80] Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Belgium, Sweden, China, Japan, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/ventricular-assist-devices-market
    
 

Left ventricular devices market is estimated to grow at a CAGR of 10.6% during the projection period. Modern day advancements in the device such as high survival rate, efficiency and low risk will be one of the major factors responsible for the market growth. Growing heart failure rate and lack of heart donors across the globe has led to increase in number of people opting for ventricular assist devices, boosting the industry growth.
 

Destination therapy market held the maximum market share and was valued over USD 419.5 million in the year 2017. As per the Centers for Medicare & Medicaid Services, destination therapy is one of the most preferred therapies that is used in the heart failure patients and constitutes a major and growing portion of the overall heart implants. The growing use of destination therapy for ventricular assist devices in patients suffering from end-stage heart failure will enhance the market growth.
 

The sales of ventricular assist devices in the people aged between 60-79 years is estimated to grow significantly at a CAGR of 10.5% over the forecast timeframe. Growing sedentary lifestyle has led to increase in life style diseases such as cardiovascular diseases (CVD) and heart failure. Rising prevalence of CVD diseases in geriatric population will result in boosting demand and adoption rate of ventricular assist devices, augmenting the business growth.
 

U.S. ventricular assist devices market is projected to grow at a CAGR of 9.8% during the forecast timeframe. According to the statistics published by Johns Hopkins Medicine Organization, around 84 million Americans suffer from some or the other form of cardiovascular disease. Growing population suffering from CVD disease, recent technological advancements in the country and favorable reimbursement policy will be few major impact rendering factors on the growth of the ventricular assist device market in the region.
 

Germany dominated the Europe ventricular assist devices market and was valued over USD 106.7 million in the year 2017. According to the statistics published by European Union (EU), around 51,000 heart bypass surgeries were carried out in Germany in the year 2016. CVD diseases are one of the leading cause of death in the Europe region. Growing prevalence of the CVD disease among the Europe region will enhance and drive the growth of ventricular assist devices market in the region.
 

Some of the leading players in the ventricular assist devices market include Abbott, Abiomed, Berlin Heart, Bivacor, CardiacAssist, Inc., Evaheart, Maquet, Jarvik Heart, Medtronic and Terumo Corporation. These companies mainly focus on strategic decisions to increase the research and development investment in order to manufacture more advanced and innovative products. Merger and acquisitions have increased the capabilities of the companies and increase their efficiency to sustain in the market by providing better solutions.
 

Ventricular assist devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:

Ventricular assist devices market by Product

  • Left ventricular assist devices (LVADs)
  • Right ventricular assist devices (RVADs)
  • Biventricular assist devices (BIVADs)
  • Percutaneous Ventricular Assist Devices
  • Total Artificial Heart

Ventricular assist devices market by Application

  • Destination therapy
  • Bridge-to-candidacy (BTC) therapy
  • Bridge-to-transplant (BTT) therapy
  • Bridge-to-recovery (BTR) therapy
  • Others

Ventricular assist devices market by Age

  • Below 18
  • 19-39
  • 40-59
  • 60-79
  • Above 80

The above information is provided for the following regions/countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Sweden
    • Belgium
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    • South Africa
    • Saudi Arabia

 

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