June 10, 2021
According to the research report titled ‘Cardiac Assist Devices Market Insights, Competitive Landscape and Market Forecast-2026’, available with Market Study Report LLC, global cardiac assist devices market is slated to record a strong compound annual growth rate through 2026.
High prevalence of cardiac problems such as coronary heart disease in tandem with rising elderly population are some of the major growth stimulants of global cardiac assist devices market. CAD, or cardiac assist devices, are essentially mechanical pumps that operate along with the heart to increase the pumping efficacy.
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Cardiac assist devices are also used to maintain optimal blood flow across the body. Thus, widespread adoption of cardiac assist devices in end-stage heart failure treatments and insufficient availability of heart donors are paving the way towards the overall market growth.
In addition, introduction of innovative therapies, availability of affordable medical devices, and high popularity of CAD are also creating lucrative growth avenues for the industry participants.
On the contrary, complexities involved in such treatments, lack of awareness, and steep competition are likely to refrain the expansion of global cardiac assist devices market.
Based on product landscape, the market is segmented into total artificial heart, intra-aortic balloon pumps (IABPs), and ventricular assist devices. Moving on to modality type, global cardiac assist devices market is bifurcated into implantable and transcutaneous segments
The application scope of this marketplace consists of bridge-to-candidacy therapy, bridge-to-recovery therapy, destination therapy, and bridge-to-transplant therapy.
Global cardiac assist devices industry, based on geographical analysis, is fragmented on the basis of Spain, France, Germany, the United Kingdom, Spain, Japan, and the United States.
SynCardia Systems LLC, MiTiHeart Corporation, Xenios AG, Jarvik Heart Inc., HeartWare, CARMAT, CardioBridge GmbH, CardiacAssist Inc., Calon Cardio-Technology Ltd., Bivacor Pvt. Ltd., Abiomed, Berlin Heart GmbH, and Abbott Laboratories are the prominent companies operating in global cardiac assist devices market.