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/

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