Ventricular Assist Devices Market is slated to be worth US$ 20.6 Billion by the end of 2033 at a CAGR of around 22.8%
Ventricular Assist Devices Market Demand is expected to increase due to a surge in Cardiovascular Diseases: Opportunities ahead
Ventricular Assist Devices Market Demand is expected to increase due to a surge in Cardiovascular Diseases: Opportunities ahead
NEW YORK, NEW YORK, UNITED STATES, February 7, 2023 /EINPresswire.com/ -- Ventricular Assist Device Market
The global Ventricular Assist Devices Market is estimated at US$ 2.3 Billion in 2022 and is estimated to grow further to US$ 2.7 Billion in 2023. The Ventricular Assist Devices market value is projected to increase at a CAGR of around 22.8% from 2023 to 2033. Global Ventricular Assist Devices Market is expected to reach US$ 20.6 Billion by the end of 2033.
As the prevalence of cardiovascular disorders has increased in recent years, which has augmented the demand for ventricular assist devices. United States accounted for over 50% of global market demand in 2022.
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Ventricular Assist Devices (VADs) are medical devices that are used to support the heart by pumping blood in patients with heart failure. VADs are an effective treatment option for patients with advanced heart failure, providing circulatory support and improving the quality of life for patients. The VAD market has seen significant growth in recent years and is expected to continue its growth trend in the coming years.
The increasing incidence of heart failure and the growing demand for advanced heart support devices are some of the key factors driving the growth of the VADs market. In addition, the increasing prevalence of cardiovascular diseases and the growing awareness of VADs as a viable treatment option are also contributing to the growth of the VADs market.
Factors such as increasing prevalence of cardiovascular diseases and technological advancements in ventricular assist devices are driving the market growth. Furthermore, increasing investments in research and development activities related to VAD devices, along with government initiatives to promote awareness about heart failure management, are also propelling the industry’s growth.
Key Companies-
• Abiomed
• Medtronic
• Abbott
• Berlin Heart
• Cardiac Assist, Inc.
• Jarvik Heart, Inc.
• ReliantHeart, Inc.
• Sun Medical Technology Research Corp
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Ventricular Assist Devices Market Segmentions
By Product Type
• Left Ventricular Assist Device
• Right Ventricular Assist Device
• Bi-Ventricular Assist Device
• Total Artificial Heart
By Flow Type
• Pulsatile Flow
• Continuous Flow
By Application
• Bridge to Transplant
• Destination Therapy
• Other Applications
By Design Type
• Implantable Ventricular Assist Device
• Transcutaneous Ventricular Assist Device
By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
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Conclusion
The VADs market is expected to experience significant growth in the coming years due to the increasing incidence of heart failure and the growing demand for advanced heart support devices. The increasing awareness of VADs as a viable treatment option and the growing number of heart failure patients being treated in hospitals and clinics are also expected to drive the growth of the VADs market. The increasing investment in research and development by key players to bring innovative VADs to the market is expected to further drive the growth of the VADs market in the coming years.
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