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HYDERABAD, TELANGANA, INDIA, February 13, 2023 /EINPresswire.com/ -- The Ventricular Assist Device Market size is $1.35 Billion in 2019, growing at a CAGR of 11.8% during the forecast period 2020-2025. Ventricular Assist Device is a mechanical pump used to support heart function and blood flow in individuals who have weakened hearts or cardiac problems. A ventricular assist device (VAD) takes blood from a lower chamber of the heart and helps pump it into the body and vital organs. It is used to support hearts during or after surgery until it recovers, or when a patient is waiting for a heart transplant or can be a long-term solution for patients who are not eligible for a heart transplant. These devices are implanted in the patient’s body when ventricles fail to perform their function owing to various medical conditions such as Bundle branch block, Myocardial Infarction (MI).

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Key Takeaways

1. Increased rate of heart attack and stroke leading to cardiovascular deaths is set to propel the growth of the market.

2. Increasing developments in the therapy process and increased functional capacity and performance are driving factors for the growth of the Ventricular Assist Device market.

3. Europe region is estimated to record the fastest growth rate during the forecast period 2020-2025.

Segmental Analysis:

1. In 2019, Left Ventricular Assist Devices (LVADs) segment dominated the Ventricular Assist Device Market in terms of revenue and is estimated to grow at a CAGR of 13.7%. Left Ventricular Assist Devices (LVADs) are implanted during an open-heart surgery, where it receives blood from the left ventricle and delivers it to the aorta. It works along with the patient’s own heart. It is mostly given as a treatment option for patients with end-stage heart failure.

2. In 2019, the North America region dominated Ventricular Assist Device Market in terms of revenue with a market share of 52.1% owing towards owing to the presence of established payers and an increase in the number of cardiovascular disease patients in the region. This growth can be attributed to the advanced healthcare infrastructure with technological practice, higher spending by citizens on healthcare, growing old age and cardiac patient pool, favorable government policies are key factors in the growth of the Ventricular Assist Device market.

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Competitive Landscape:

The top 5 players in the Ventricular Assist Device Market Industry are -

1. Abiomed Inc.
2. BiVACOR Inc
3. Abbott Laboratories
4. Medtronic PLC
5. Terumo Corporation

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