The Global Ventricular Assist Devices Market Growth Accelerated By Technological Advancements

https://www.coherentmarketinsights.com/market-insight/ventricular-assist-devices-market-1686
Ventricular Assist Devices Market


Ventricular assist devices are mechanical pumps used to support heart function and blood flow in patients with weak or failing hearts. These devices have advantages over traditional heart pumps as they are more reliable, energy efficient and offer portability. The rising prevalence of cardiovascular diseases and growing number of transplant procedures have increased the demand for ventricular assist devices.

The global Ventricular Assist Devices Market is estimated to be valued at US$ 1.37 Bn in 2023 and is expected to exhibit a CAGR of 5.3%  over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Technological advancements is one of the key trends driving the growth of the ventricular assist devices market. Manufacturers are increasingly investing in research and development to develop next-generation devices with improved features. For instance, devices are being miniaturized to increase patient mobility and made wireless to eliminate driveline infections. Second generation devices with improved durability are also gaining popularity. Moreover, third generation continuous flow devices that mimic the physiology of the native heart are in the pipeline. Such innovative devices are expected to significantly boost the adoption of ventricular assist devices during the forecast period.


Segment Analysis
The ventricular assist devices market is divided into two dominant segments namely, left ventricular assist devices (LVAD) and right ventricular assist devices (RVAD). The LVAD segment holds the largest market share currently due to the high prevalence of left ventricular failure. LVAD provides long-term support of heart function for those suffering from advanced heart failure.

Key Takeaways
The global Ventricular Assist Devices Market Growth is expected to witness high growth over the forecast period of 2023 to 2030. The global Ventricular Assist Devices Market is estimated to be valued at US$ 1.37 Bn in 2023 and is expected to exhibit a CAGR of 5.3%  over the forecast period 2023 to 2030.

Regional analysis: North America currently dominates the ventricular assist devices market and is expected to continue its dominance over the forecast period. This is attributed to advanced healthcare infrastructure and rising government funding for heart failure treatment in the region. Europe is expected to be the second largest market driven by increasing research on ventricular assist devices and presence of key market players.

Key players: Key players operating in the ventricular assist devices market are Abbott Laboratories , Abiomed , Berlin Heart GmbH, CardiacAssist , Jarvik Heart , Medtronic , ReliantHeart, SynCardia Systems , and Terumo Corporation. Abbott Laboratories holds the largest market share currently due to its wide portfolio of ventricular assist devices including HeartMate 3 left ventricular assist device.

Explore more related article on this topic: https://www.ukwebwire.com/the-demand-for-ventricular-assist-devices-demand/

Comments

Post a Comment

Popular posts from this blog

Global Fiber Reinforced Concrete Market Opportunity Analysis and Industry Forecast 2028

Image
  Fiber Reinforced Concrete Market A rise in commercial construction activity is anticipated to fuel the market as a result of the economy's improved state. The need for more office and storage space has been driven by the expansion of industries like food and consumer goods, which has had a large positive impact on the construction sector and the demand for paving slabs as long-lasting and attractive flooring. With the majority of the actors involved in the production and manufacture of the raw materials used in the production of paving slabs, product makers have a highly integrated supply chain. The majority of market participants also benefit from a robust direct distribution network that facilitates a seamless flow of products and enables them to build a broader customer base. Having a wide range of customizable products is important while making purchases. The global Fiber Reinforced Concrete Market was valued at US$ 2,330.40 Mn in 2020 and is forecast to reach a value of US$
Read more

Augmented Reality Is Fastest Growing Segment Fueling The Growth Of Air Defense Systems Market

Image
Air Defense Systems Market Market Overview: Air defense systems provides protection against cruise, tactical and strategic ballistic missiles, unmanned aerial vehicles, and aircraft. They consist of radar systems, interceptor missiles, command and control systems and fire control systems. Air defense systems help detect incoming enemy planes, and intercept missiles and other threats before they reach their targets using air-to-air, surface-to-air, and man-portable missiles. Market key trends: One of the major trends in the air defense systems market is the increasing adoption of augmented reality and artificial intelligence. Augmented reality offers 3D digital interfaces to air defense operators and commanders and overlays geographical data and combat intelligence information onto real-world combat scenarios. This enhances situation awareness, minimizes fatigue and improves decision-making. It is increasingly being incorporated into command and control systems, fire control radars and
Read more

Agricultural Micronutrients Market Growth Accelerated By Increasing Need For Improved Soil Fertility

Image
Agricultural Micronutrients Market Agricultural micronutrients are essential plant nutrients required in small quantities for healthy plant growth and development. Micronutrients such as iron, zinc, manganese, molybdenum, and boron play vital roles in various metabolic functions of crops such as photosynthesis, nitrogen fixation, and enzyme activity. The increasing need to boost crop yields and improve soil fertility has raised the demand for micronutrient fertilizers globally. The growing population and reducing arable land have fueled the need for sustainable agricultural practices, propelling the micronutrients market. The global Agricultural Micronutrients Market is estimated to be valued at US$ 5.19 Bn in 2024 and is expected to exhibit a CAGR of 27.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing adoption of precision farming and digital technologies in the agriculture sector is
Read more