Ventricular Assist Devices Market to Reach $2.82 Bn, Globally, by 2030 at 8.6% CAGR: AMR

News provided by

Mar 31, 2022, 10:29 ET

PORTLAND, Ore., March 31, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Ventricular Assist Devices Market by Product (Left Ventricular Assist Devices (LVADs), Right Ventricular Assist Devices (RVADs), and Biventricular assist devices (BIVADs)), Application (Bridge-to-transplant (BTT) Therapy, Destination Therapy, Bridge-to-recovery (BTR) Therapy, and Bridge-to-candidacy (BTC) Therapy), and Design (Transcutaneous and Implantable Ventricular Assist Devices): Global Opportunity Analysis and Industry Forecast, 2021-2030". As per the report, the global ventricular assist devices industry was accounted for $1.23 billion in 2020, and is expected to reach $2.82 billion by 2030, growing at a CAGR of 8.6% from 2021 to 2030.

For Right Perspective, Download Sample PDF at: https://www.alliedmarketresearch.com/request-sample/2024

Drivers, restraints, and opportunities

Rise in incidence of health failures, dearth of heart donors, surge in patient awareness about health failure treatment options, and technological advancements have boosted the growth of the global ventricular assist devices market. However, serious risks involved in the procedure and high cost of devices and procedures hinder the market growth. On the contrary, potential in emerging markets would open new opportunities in the future.

Covid-19 scenario:

During the Covid-19 pandemic, the demand for bariatric surgery increased, which favored the ventricular assist devices industry.
Moreover, rise in number of product approvals during the pandemic benefited the market.
However, the prolonged lockdown and disrupted supply chain presented some challenges to the key market players.

Do You Have Any Query Or Specific Requirement? Ask to Our Industry Expert: https://www.alliedmarketresearch.com/purchase-enquiry/2024

The left ventricular assist devices (LVADs) segment held the largest share

By product type, the left ventricular assist devices (LVADs) segment held the largest share in 2020, accounting for nearly three-fourths of the global ventricular assist devices market. In addition, the segment is expected to register the highest CAGR of 8.7% during the forecast period, owing to rise in prevalence of cardiovascular surgeries. The report includes analysis of other segments such as right ventricular assist devices (RVADs) and biventricular assist devices (BIVADs).

The hypermarket and supermarket segment dominated the market

By application, the bridge-to-transplant (BTT) segment held the lion's share in 2020, contributing to nearly half of the global ventricular assist devices market. However, the destination therapy segment is estimated to manifest the highest CAGR of 9.0% from 2021 to 2030, due to rise in number of approvals of products.

North America held the largest share

By region, the global ventricular assist devices market across North America dominated in 2020, holding more than two-fifths of the market, due to robust infrastructure provided for research activities and presence of key players across the region. However, the market across Asia-Pacific is projected to portray the highest CAGR of 8.9% during the forecast period, owing to rise in use of ventricular assist devices products, R&D activities for new product launch, and surge in investment in the healthcare sector.

Major market players

Abiomed, Inc.
Boston Scientific Corporation
Berlin Heart GmbH
Jarvik Heart, Inc.
Calon Cardio
Medtronic plc
LivaNova PLC
Abbott Laboratories
ReliantHeart Inc.
Terumo Medical Corporation

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Request for 14 days free trial: https://www.alliedmarketresearch.com/avenue/trial/starter

"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."

Trending Reports in Healthcare Industry (Book Now with 10% Discount):

Muscle Stimulator Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

Hospital-Acquired Infection Control Market - Global Opportunity Analysis and Industry Forecast, 2020-2028

Hearing Amplifiers Market - Global Opportunity Analysis and Industry Forecast, 2020-2028

Spirometer Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

Europe Antibiotic Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

Medical Nutrition Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/life-sciences
Follow Us on LinkedIn: https://www.linkedin.com/showcase/life-sciences-industry-research/