The global ventricular assist device market size was valued at USD 1.63 Billion in 2023. The major drivers of the industry include the technological advancements pertaining to novel product developments, increased public financing, growing global geriatric population, and pursual of unhealthy lifestyles. The market is anticipated to grow at a CAGR of 11.60% during the forecast period 2024-2032 to reach a value of USD 4.38 Billion by 2032.
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Rising incidences of heart failure and cardiovascular disease have resulted in the increased demand for ventricular assist devices as they help in mechanically pumping blood in patients with heart failure or weak heart.
A ventricular assist device is an electromechanical device for assisting cardiac circulation, which is used either to partially or to completely replace the function of a failing heart. The market can be divided on the basis of segments like product type, applications, and design.
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The increasing prevalence of cardiovascular diseases, technological advancements pertaining to novel product developments, and shortage of transplant organs are the major factors accelerating the growth of the industry. Moreover, increased public financing for new-product development combined with ongoing studies in this field are aiding the ventricular assist device industry further. High procedure cost and limited insurance coverage are the constraints, which may affect the market growth in the coming years.
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The report presents a detailed analysis of the following key players in the global ventricular assist device industry, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s five forces.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2023-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by End User |
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| Breakup by Region |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The ventricular assist device market reached a value of USD 1.63 Billion in 2023.
The market is anticipated to grow at a CAGR of 11.60% during the forecast period of 2024-2032 to reach a value of USD 4.38 Billion by 2032.
The major drivers of the industry include the technological advancements pertaining to novel product developments, increased public financing, growing global geriatric population, and pursual of unhealthy lifestyles.
The increasing prevalence of cardiovascular diseases and the shortage of transplant organs are the major factors accelerating the industry's growth.
The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major product types in the industry are left ventricular assist devices (LVADS), right ventricular assist devices (RVADS) silicon, and biventricular assist devices (BIVADs).
The significant applications in the industry are bridge-to-transplant (BTT) therapy, destination therapy, bridge-to-recovery (BTR) therapy, and bridge-to-candidacy (BTC) therapy.
The design sectors include transcutaneous ventricular assist devices and implantable ventricular assist devices.
The key players in the industry are Terumo Corporation, ReliantHeart, Inc., Medtronic Plc., Jarvik Heart, Inc., CardiacAssist Technologies, Calon Cardio-Technology Ltd., Abbott Laboratories, Asahi Kasei Corporation, and Abiomed, Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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