Ventricular Assist Device Market 2022 Key Players, Top Regions, Growth, Size, Shares, Revenue Segmentations by Types, Applications Challenges
The Ventricular Assist Device Market crossed US$ 313.56 million mark in 2022 and is expected to hit US$ 562.96 million by 2030, recording a CAGR of 6.81% during the forecast period.
According to the data provided by Center for Disease Control and Prevention (CDC), in the year 2018, approximately 6.2 million people suffered heart failure in United States. Moreover, about 26 million population worldwide is affected by heart failure. As there is increase in incidence of heart failure and cardiovascular diseases, demand for heart transplantation has increased substantially. However, there is low availability of adequate heart donors worldwide. According to the Health Resources and Service Administration, by March 2018, there were about 4,000 candidates in the waiting list for heart transplant. Ventricular assist device is used for the management of heart failure and cardiovascular failure due to CVD. The US FDA has approved use of left ventricular assist device in case of end-stage heart failure. This use of ventricular assist devices after heart failure is driving the growth of the ventricular assist devices market
The Ventricular Assist Device Market 2022 provides a complete assessment of the industry including definitions, classifications, applications, and industry chain structure, which is beneficial for companies regardless of their size and revenue. Ventricular Assist Device Market Survey report covering the major market insights and industry approach towards COVID-19 in the upcoming years. For each manufacturer covered, the clients will find the report complete in all aspects as it covers all key components with valuable statistics and expert opinions in all regards. This section analyses region-wise revenue and volume for the forecast period till 2030.
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The List of TOP KEY PLAYERS in Ventricular Assist Device Market Report are –
- Abbott Laboratories
- Medtronic PLC
- Jarvik Heart, Inc.
- Reliant Heart, Inc.
- Medical Technology Research Corp.
- SynCardia Systems LLC
- Terumo Corporation
The report additionally focuses on world major leading industry players of this market providing information like company profiles, product picture, and specification, capacity, production, price, cost, revenue, and contact information. This report focuses on market trends, volume and value, regional level, and company level. This report represents the overall Ventricular Assist Device Market Size by analyzing historical information and future prospects till 2030.
Based on types, the Ventricular Assist Device Market is primarily split into:
- Product Type:
- Left Ventricular Assist Device
- Right Ventricular Assist Device
- Biventricular Assist Device
- Pulsatile Flow
- Continuous Flow
Based on applications, the Ventricular Assist Device Market covers:
- Bridge-to-candidacy (BTC) therapy
- Bridge-to-transplant (BTT) therapy
- Bridge-to-recovery (BTR) therapy
- End User:
- Ambulatory Surgical Centers
- North America
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
Recent strategic developments in ventricular assist device market
The ventricular assist device market has undergone several significant developments, and a few of these have been mentioned below:
- In June 2021, Medtronic stopped the sale and distribution of the HeartWare Ventricular Assist Device (HVAD) system given the increased risk of mortality and neurological adverse events in patients using the device, and a malfunction where the device may fail to restart.
- In June 2021, Abbott announced the company has capacity and supply to effectively support the growing demand for mechanical circulatory support (MCS) devices for the effective treatment of advanced heart failure. Abbott is also supporting training and education programs for additional physicians.
- In December 2020, Abbott received U.S. Food and Drug Administration (FDA) approval for the updated labeling for HeartMate3 heart pump as it can be used in pediatric patients with advanced refractory left ventricular heart failure.
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Key Highlights of the Ventricular Assist Device Market Research Report:
The report summarizes the Ventricular Assist Device Market by stating the definition, applications, scope, it’s price, supply and demand ratio, and market overview.
Competitive landscape of all leading key players together with their business strategies, approaches, and latest Ventricular Assist Device market development.
It elements market investment, opportunities, growth factors, restraints, and market risks.
It performs a comprehensive study of emerging players in the Ventricular Assist Device business along with the existing ones.
It accomplishes primary and secondary research and resources to estimate prime products, market size, and industrial partnerships of this business.
To study and analyze the Ventricular Assist Device consumption by key regions/countries, product type and application, history information, and forecast during 2022-2030.
To understand the structure of Ventricular Assist Device by identifying its various sub segments.
Focuses on the key Ventricular Assist Device manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans within the next few years.
To analyze Ventricular Assist Device with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the expansion of the market.
To project the consumption of Ventricular Assist Device submarkets, with respect to key.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions within the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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