ID: MRFR/HC/8299-HCR | 120 Pages | Published By Kinjoll Dey on March 2023
Ventricular Assist Devices Market is projected to be worth USD 1,726 million at CAGR of 11.2 % during the forecast period.
$1,726 Million
11.2%
North America
2020-2027
Ventricular Assist Devices Market accounted for USD 1,726 Million in 2019 and it is expected to grow USD 1.33 Billion at a CAGR of 8.10% from 2022 to 2030.
A ventricular assist device (VAD) is a miniaturized mechanical pump that is used to support heart function and maintain blood flow to vital organs in patients with weakened hearts. A ventricular assist device can be used if one or both the heart's ventricles don't function properly. Ventricular assist devices play an important role in managing patients with cardiac strokes and heart failures owing to the dearth of heart donors. Thus, there has been a huge demand for VAD and the market will witness an exponential growth during the forecast years.
Furthermore, the current outbreak of COVID-19 along with an increasing number of manufacturers in various regions is driving the ventricular assist devices market for ventricular assist devices.
Market Influencer
Increasing demand for VADs owing to a shortage of heart donors drives the global ventricular assist devices market.
Market Drivers
Market Restraints
Segmentation
By Product Type
By Type of Flow
By Design
By Application
By Region
Key Players
A ventricular assist device (VAD) is a miniaturized mechanical pump that is used to support heart function and maintain blood flow to vital organs in patients with weakened hearts. A ventricular assist device can be used if one or both the heart's ventricles don't function properly.
Ventricular Assist Devices Market is expected to record a substantial market valuation past the recorded 2019 value of USD 1.7 billion.
Ventricular Assist Devices Market is projected to register a moderate 8.10% CAGR in the forecast period.
The LVAD segment is expected to observe substantial demand over the review period.
The destination therapy segment is slated to expand as the fastest-growing segment.
A few emminent market players operating in the global ventricular assist devices market are Medtronic plc, abbott, cirtec, among others.