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Global Ventricular Assist Device Market To Be Driven By Increased Demand For Life Saving Devices In The Forecast Period Of 2021-2026

The new report by Expert Market Research titled, ‘Global Ventricular Assist Device Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Global Ventricular Assist Device market, assessing the market based on its segment like product type, application, design, and major regions like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2015-2026)

  • Historical Market Size (2020): USD 1.4 billion
  • Forecast CAGR (2021-2026): 11.5%
  • Forecast Market Size (2026): USD 2.8 billion

The global Ventricular Assist Device market witnessed decent growth in the historical period, due to an increase in lifestyle related diseases and rising incidences of chronic diseases like diabetes, hypertension, cardiovascular diseases etc.

Industry Definition and Major Segments

Ventricular Assist Device functions as a mechanical circulatory support device, that is, as an implantable mechanical pump that aids in pumping blood from the lower chambers of the heart to the rest of the body. These devices are important in several treatment approaches for heart-related ailments. These life saving devices can be used to replace the function of a failing heart, either partially or totally.

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By product type, the market is segmented into:

  • Left Ventricular Assist Devices (LVADs)
  • Right Ventricular Assist Devices (RVADs) Silicon
  • Biventricular Assist Devices (BIVADs)

By application, the market is bifurcated into:

  • Bridge-To-Transplant (BTT) Therapy
  • Destination Therapy
  • Bridge-To-Recovery (BTR) Therapy
  • Bridge-To-Candidacy (BTC) Therapy

By design, the market is split into:

  • Transcutaneous Ventricular Assist Devices
  • Implantable Ventricular Assist Devices

The regional market for Ventricular Assist Device includes:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

Geographically, North America held the largest market in the historical period. The availability of regulated reimbursement policies and coverages, as well as increased awareness of VADs such as bridge-to-recovery, destination therapies, and bridge-to-transplant, are expected to drive the VAD industry in the forecast period. The United States has the largest number of obese citizens, putting them vulnerable to cardiovascular disease. In addition, the development of technologically advanced healthcare facilities in the United States is predicted to raise treatment numbers and provide impetus to market expansion. However, Asia Pacific is anticipated to register the highest CAGR growth in the forecast period. Advancement in healthcare facilities and favourable initiatives from the region’s governments are boosting the public and private partnerships and investments in countries like China, India, etc.

One of the important factors driving the growth of the VAD market is the rise in the incidence of chronic illnesses and the drop in organ transplantation, due to long waiting times for receiving the transplant. Furthermore, growing geriatric population and rising natality are significant impact-rendering drivers for the market over the projected period. The VAD market is continually changing, and the major companies are investing in product innovation and development. The market for VAD is projected to be driven by technological improvements along with timely regulatory approvals in the form of small-size devices with features such as infection control. These factors are expected to propel the market in the forecast period.

Key Market Players

The major players in the global market involve Terumo Corporation (OTCMKTS: TRUMY), ReliantHeart, Inc., Medtronic Plc., Jarvik Heart, Inc., CardiacAssist Technologies, Calon Cardio-Technology Ltd., Abbott Laboratories , Asahi Kasei Corporation, Abiomed, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

We also provide state-of-the-art procurement intelligence through our platform, https://www.procurementresource.com. Procurement Resource is a leading platform for digital procurement solutions, offering daily price tracking, market intelligence, supply chain intelligence, procurement analytics, and category insights through our thoroughly researched and infallible market reports, production cost reports, price analysis, and benchmarking.

Informes de Expertos (https://www.informesdeexpertos.com), the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.

Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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Contact Information:

Company Name: EMR Inc.

Contact Person: Matt Johnson, Corporate Sales Specialist – U.S.A.

Email: [email protected]

Toll Free Number: +1-415-325-5166 | +44-702-402-5790

Address: 30 North Gould Street, Sheridan, WY 82801, USA

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Website: https://www.expertmarketresearch.com

Menafn, Reportedtimes, PR-Wirein, Extended Distribution, Research Newswire, English

Contact Information:

Company Name: EMR Inc.

Contact Person: Matt Johnson, Corporate Sales Specialist – U.S.A.

Email: [email protected]

Toll Free Number: +1-415-325-5166 | +44-702-402-5790

Address: 30 North Gould Street, Sheridan, WY 82801, USA

City: Sheridan

State: Wyoming

Country: United States

Website: https://www.expertmarketresearch.com