Ventricular assist device is a mechanical pump used to support the function of left, right, or both ventricles. These devices are used to support cardiac circulation in people who have reached the end-stage heart failure.
The global ventricular assist devices market garnered $809 million in 2020, and is anticipated to reach $1,773 million, growing at a CAGR of 11.8%.
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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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Growth in incidences of heart failure across the globe, new technological advancements in ventricular assist devices, awareness among patients about monitoring of the heart, and shortage of heart donors drive the market. Moreover, emerging countries such as developing and under-developed nations provide lucrative opportunities for the market to witness growth. However, the market is restrained by high cost of the procedure and certain risks associated with the VAD implantation procedure.
The global ventricular assist devices market is segmented into product, application, design, and region. Based on product, it is divided into left ventricular assist devices (LVADs), right ventricular assist devices (RVADs), and biventricular assist devices (BIVADs). By application, the market is classified into bridge-to-transplant (BTT) therapy, destination therapy, bridge-to-recovery (BTR) therapy, and bridge-to-candidacy (BTC) therapy. Based on design, the market is bifurcated into transcutaneous and implantable ventricular assist devices. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
>This report provides an extensive analysis of the current and emerging trends and dynamics in the global ventricular assist devices market.
>This study provides the competitive landscape of the global market to predict the competitive environment across geographies.
>This report entails the detailed quantitative analysis of the current trends and future estimations to identify the prevailing opportunities.
>Comprehensive analysis of factors that drive and restrict the market growth is provided in the report.
>Region- and country-wise analysis is provided to understand the market trends and dynamics.
KEY MARKET SEGMENTS
>Left Ventricular Assist Devices (LVADs)
>Right Ventricular Assist Devices (RVADs)
>Biventricular Assist Devices (BIVADs)
>Bridge-to-transplant (BTT) Therapy
>Bridge-to-recovery (BTR) Therapy
>Bridge-to-candidacy (BTC) Therapy
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>Transcutaneous Ventricular Assist Devices
>Implantable Ventricular Assist Devices
>North America ?U.S.
?Rest of Europe
?Rest of Asia-Pacific
?Rest of LAMEA
The key players profiled in this report are as follows:
>Asahi Kasei Corporation (Evaheart Medical U.S.A., Inc.)
>Abbott Laboratories (St. Jude Medical, Inc.)
>Berlin Heart GmbH
>Calon Cardio-Technology Ltd.
>Jarvik Heart, Inc.
>Terumo Medical Corporation
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This market report shows the projected market size for the pain management devices market at the end of the forecast period. The report also examines the historical and current market sizes.
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