Ventricular Assist Device Market Insights:
The Ventricular Assist Device Market size was valued at USD 1444.27 Million in 2022, expecting a CAGR of 7.8% during the forecast period (2023-2030), and the market is projected to be worth USD 2633.9 Million by 2030.
Driver:
The increased adoption of Ventricular Assist Device in the Medical Devices industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Ventricular Assist Device also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Ventricular Assist Device in many sectors also boosts the market growth during the forecast period.
The ventricular assist device (VAD) market refers to the market for mechanical devices that are used to assist the heart in pumping blood in patients with heart failure or other cardiac conditions. VADs are implantable devices that are used as a bridge to heart transplantation or as a long-term therapy for patients who are not candidates for transplantation. These devices typically consist of a pump that is implanted in the patient’s chest, connected to the heart, and powered by an external battery or power source. VADs can be used to support one or both ventricles of the heart and can be used in a variety of settings, including in hospitals and in patients’ homes.
Ventricular Assist Device Market Research Report” was just released by Market Research Community. It is divided into several categories, including 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), and companies (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), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 7.8%, over the forecast period of 2023–2030.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 2633.9 Million |
| CAGR (2023-2030) | 7.8% |
| 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 |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key 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 |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Ventricular Assist Device market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
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
Market Segment Analysis:
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
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Ventricular Assist Device industries in the region.
Key Ventricular Assist Device Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Ventricular Assist Device Market segments.
– Largest Market Share Held by Industry to Industry for Ventricular Assist Device
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Ventricular Assist Device Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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