Ventricular Assist Device Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Ventricular Assist Device Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, June 28, 2024 /EINPresswire.com/ -- The ventricular assist device (VAD) market, integral to treating heart failure by improving blood circulation, has witnessed robust growth. It is set to rise from $1.92 billion in 2023 to $2.18 billion in 2024, boasting a compound annual growth rate (CAGR) of 13.3%. This expansion is attributed to increasing heart failure prevalence and demand for organ transplantation procedures.

Rising Awareness Driving Market Growth
Awareness regarding heart failure treatment has surged, catalyzing the adoption of ventricular assist devices. Heart failure, marked by the heart's diminished capacity to pump blood, has seen rising incidences due to factors like coronary artery disease and hypertension. The American Heart Association predicts a 46% increase in heart failure cases by 2030, underscoring the need for effective treatments like VADs.

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Key Players and Market Trends
Leading companies such as Abiomed, Abbott Laboratories, and Medtronic are focusing on enhancing VAD effectiveness and safety through technological advancements. For instance, CorWave introduced LVAD membrane pump technology, utilizing electromagnetic pulses for more natural blood movement, akin to the heart's pulsatile action.

In strategic moves, mergers, and acquisitions, major players aim to bolster their market positions. Innovations in miniaturization, advanced pump technologies, and safety enhancements are pivotal trends shaping the VAD landscape.

Segments
The ventricular assist device market covered in this report is segmented –
1) By Product: Left Ventricular Assist Devices (LVADs), Right Ventricular Assist Devices (RVADs), Biventricular Assist Devices (BIVADs).
2) By Type: Pulsatile Flow, Continuous Flow
3) By Design: Transcutaneous Ventricular Assist Devices, Implantable Ventricular Assist Devices
4) By Application: Bridge-To-Transplant (BTT) Therapy, Destination Therapy, Bridge-To-Recovery (BTR) Therapy, Bridge-To-Candidacy (BTC) Therapy
5) By End Users: Hospital, Ambulatory Surgical Centers, Cardiology Centers

Geographical Insights: North America Leads, Asia-Pacific Emerges Fastest-Growing
North America dominated the VAD market in 2023, driven by technological advancements and high healthcare expenditure. Meanwhile, Asia-Pacific is poised for rapid growth, buoyed by increasing healthcare infrastructure and rising awareness of cardiovascular diseases.

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Ventricular Assist Device Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Ventricular Assist Device Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ventricular assist device market size, ventricular assist device market drivers and trends, ventricular assist device market major players, competitors' revenues, market positioning, and market growth across geographies. The ventricular assist device market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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