Fortune Business Insights

Major Companies Covered in Ventricular Assist Devices Market are- Abbott Laboratories (US), Berlin Heart GmbH (Germany), Medtronic (Ireland), Cardiac Assist, Inc. (US), Jarvik Heart, Inc (USA), ReliantHeart (USA), ABIOMED (USA), Sun Medical Technology Research Corp (Japan)

Pune, India, 25 Feb. 2022 (GLOBE NEWSWIRE) — The global ventricular assist devices market size was USD 1.12 billion in 2020. The market is expected to grow from USD 1.23 billion in 2021 to USD 2.24 billion in 2028 at a CAGR of 8.9% over the period 2021-2028. This information is provided by Fortune Business Insights™, in its report titled “Ventricular Assist Device Market, 2021-2028”.

industry development

February 2021: CARMAT was sanctioned for the use of a new version of its artificial heart in the early feasibility study (EFS). This new variety includes specific enhancements to the prosthesis and wearable system based on clinical experience gained in the PIVOT study.

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Scope of Ventricular Assist Devices Market Report:

Report cover

Details

Forecast period

2021 to 2028

Forecast Period 2021 to 2028 CAGR

8.9%

2028 value projection

$2.24 billion

base year

2020

Market size in 2021

$1.23 billion

Historical data for

2017 to 2019

Number of pages

150

Segments Covered

By type, by procedure, by geography

Growth engines

Based on our analysis, the global market showed a meteoric growth of -9.19% in 2020 compared to the average year-on-year growth during 2017-2019.

The sudden rise in CAGR is attributable to the demand and growth of this market, returning to pre-pandemic levels once the pandemic is over.

The factors such as increasing prevalence of heart failure, awareness of heart failure treatment and increasing applications of these devices in heart failure are contributing to the growth of the market during the forecast period 2021 -2028.

To learn more about the short and long term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/ventricular-assist-device-market-106377

Ventricular Assist Devices Market Growth Factors:

  • Heart failure is one of the main causes of death in the world, affecting more than 1 to 2% of the population of Western countries. According to the American Heart Association (AHA), the occurrence of heart failure is expected to increase at a substantial rate of development by 2030, in the United States expected to reach over 8 million patients.

  • Moreover, in 2020, worldwide, more than 5.5 million people are expected to be affected by heart failure. Mentioning the increasing number of patients suffering from the disease, many producers are undertaking initiatives to obtain ventricular assist devices.

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Regional outlook

  • The market size of ventricular assist devices in North America stood at USD 0.45 billion in 2020. The dominant nature of this regional market is attributed to the increasing implementation of advanced diagnostics for the identification of the heart failure and the increasing incidence of cardiovascular disease in this region.

  • Europe held the second largest ventricular assist device market share and is expected to grow at a substantial CAGR due to growing investments in the market combined with newer product promotions.

  • The Asia-Pacific market showed higher CAGR due to the progress of healthcare equipment and encouraging government strategies.

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List of Key Players Covered in the Report

  • Abbott Laboratories (USA)

  • Berlin Heart GmbH (Germany)

  • Medtronic (Ireland)

  • Cardiac Assist, Inc. (USA)

  • Jarvik Heart, Inc. (USA)

  • ReliantHeart (USA)

  • ABIOMED (USA)

  • Sun Medical Technology Research Corp (Japan)

Ventricular Assist Devices Market Contents:

  • introduction

  • Abstract

  • Market dynamics

    • Market factors

    • Market constraints

    • Market opportunities

  • key ideas

    • Number of heart surgeries, by region/country, 2020

    • New product launches, by key players

    • Impact of COVID-19 on the market

    • Recent key developments, mergers and acquisitions, key players

  • Global Ventricular Assist Devices Market Analysis, Outlook and Forecast, 2017 – 2028

    • Main results/summary

    • Market Analysis, Outlook and Forecast – By Product

      • Left ventricular assist device

      • Right ventricular assist device

      • Bi-ventricular assist device

    • Market Analysis, Outlook and Forecast – By Type

      • Pulsating flow

      • Continuous flow

    • Market Analysis, Outlook and Forecast – By Application

    • Market Analysis, Outlook and Forecast – By End User

    • Market Analysis, Outlook and Forecast – By Region

      • North America

      • Europe

      • Asia Pacific

      • Latin America

      • Middle East and Africa

  • North America Ventricular Assist Devices Market Analysis, Outlook and Forecast, 2017-2028

    • Main results/summary

    • Market Analysis, Outlook and Forecast – By Product

      • Left ventricular assist device

      • Right ventricular assist device

      • Bi-ventricular assist device

    • Market Analysis, Outlook and Forecast – By Type

      • Pulsating flow

      • Continuous flow

    • Market Analysis, Outlook and Forecast – By Application

    • Market Analysis, Outlook and Forecast – By End User

    • Market Analysis, Outlook and Forecast – by Country

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