Global Ventricular Assist Devices Market to surpass $ 3.5 Bn by 2025

December 18, 2019


According to the research report titled ‘Ventricular Assist Devices Market Size By Product [Left Ventricular Assist Devices (LVADs), Right Ventricular Assist Devices (RVADs), Biventricular Assist Devices (BiVADs), Percutaneous Ventricular Assist Devices (PVADs), Total Artificial Heart (TAH)], By Application [Destination Therapy, Bridge-to-candidacy (BTC) Therapy, Bridge-to-transplant (BTT) Therapy, Bridge-to-recovery (BTR) Therapy], By Age [Below 18 years, 19-39 years, 40-59 years, 60-79 years, Above 80 years], By Flow [Pulsatile Flow, Continuous Flow {Axial Continuous Flow, Centrifugal Continuous Flow}], By Design (Transcutaneous, Implantable), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Belgium, Sweden, China, Japan, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global ventricular assist devices market is projected to cross USD 3.5 billion by the year 2025.
 

Growing occurrence of heart failure and other cardiovascular disorders is the major factor driving the growth of ventricular assist devices market. Advancements in technology has led to rising adoption of ventricular assist devices (VAD) for the treatment of cardiovascular diseases which in turn is aiding the market expansion. Surging mortality rate, coupled with scarcity of heart donors are augmenting the demand for ventricular assist devices across the globe.
 

Since ventricular assist devices are complex system, they require critical attention and standardized equipment and procedure during heart failure treatment. Thus, strict regulations regarding manufacturing and utilization of ventricular assist devices may prevail as market restraining factor.
 

As per product type, PVADs (percutaneous ventricular assist devices) market was worth USD 1 billion in 2018. Based on application spectrum, VAD market from BTT (bridge-to-transplant) therapy segment is projected to grow with 5.5% CAGR through 2025, cites the report.
 

On the basis of age group, growing occurrence of cardiovascular disorders especially in population aged between 40-59 years is driving the growth of ventricular assist devices market. Elaborating on type of flow, continuous flow segment of ventricular assist devices industry is expected to grow by 6% during the estimated timeframe. In terms of design type, implantable ventricular assist devices market is estimated to cross USD 2.5 billion by the year 2025.
 

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Considering geographical landscapes, North America held the largest revenue share in ventricular assist devices market in 2018, due to rising prevalence of heart failures, advanced healthcare infrastructure, favorable reimbursement policies, and high presence of key industry players. Moreover, U.S. ventricular assist devices industry is estimated to grow with a CAGR of 5% through 2025.
 

The prominent companies operating in ventricular assist devices industry are CardiacAssist, Inc., Terumo Corp., Medtronic, Jarvik Heart, Maquet, Evaheart, Bivacor, Berlin Heart, Abiomed, and Abbott.


Frequently Asked Questions (FAQ) :

Growing occurrence of heart failure and other cardiovascular disorders is the major factor driving the growth of ventricular assist devices market. Advancements in technology has led to rising adoption of ventricular assist devices for the treatment of cardiovascular diseases which in turn is aiding the market expansion. Surging mortality rate coupled with scarcity of heart donors are augmenting the demand for ventricular assist devices across the globe.
Since ventricular assist devices are complex system, they require critical attention and standardized equipment and procedure during heart failure treatment. Thus, strict regulations regarding manufacturing and utilization of ventricular assist devices may prevail as market restraining factor.
North America held the largest revenue share in ventricular assist devices market in 2018, due to rising prevalence of heart failures, advanced healthcare infrastructure, favorable reimbursement policies, and high presence of key industry players. Moreover, U.S. ventricular assist devices industry is estimated to grow with a CAGR of 5% during the period of 2019-2025.
The prominent companies operating in ventricular assist devices industry are CardiacAssist, Inc., Terumo Corp., Medtronic, Jarvik Heart, Maquet, Evaheart, Bivacor, Berlin Heart, Abiomed, and Abbott.