Ventricular Assist Devices Market Global Trends, Size, Share, Growth Advancements in Technology, Current Scenario & Forecast 2027
Pune, Maharashtra, India, September 17 2020 (Wiredrelease) Allied Analytics :Globally, there is a shortage of heart donors due to which VADs have emerged as a reliable option as bridge-to-transplant therapy or as destination therapy. Moreover, advent of technically advanced ventricular assist devices further boosts the market growth.
Ventricular Assist Devices Market by Product, Application, and Design: Global Opportunity Analysis and Industry Forecast, 2019-2027, the global ventricular assist devices market was valued at $809 million in 2016, and is estimated to reach $1,773 million by 2023, growing at a CAGR of 11.8% to 2027
Download Free Sample Report with Details COVID-19 Impact@ https://www.alliedmarketresearch.com/request-sample/2024
Ventricular assist device (VAD) is used to assist a damaged or weakened heart in pumping blood. The device is surgically attached to one or both intact ventricles and thus assists cardiac circulation.
Ventricular Assist Devices MarketCompetitive Analysis:
The major companies profiled in the report are Abiomed, Inc., Asahi Kasei Corporation (Evaheart Medical U.S.A., Inc.), Abbott Laboratories (St. Jude Medical, Inc.), Berlin Heart GmbH, Calon Cardio-Technology Ltd., CardiacAssist Technologies, Jarvik Heart, Inc., Medtronic plc, ReliantHeart, Inc., and Terumo Medical Corporation
Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
The major factors that contribute to the market growth include technological advancements in ventricular assist devices, awareness among patients about monitoring of the heart, and treatment options for management of cardiac disorders. Moreover, increased presence unmet medical needs in the developing and the under developed regions of the world is anticipated to provide lucrative opportunities for the market growth. However, the main challenge in the market is high cost of the VAD procedure. Also, bleeding complications and other associated risks hamper the growth of the ventricular assist devices market.
By product, LVADs accounted for the major share of the global ventricular assist devices market in 2016. By application segment, bridge-to-transplant generated the maximum revenue, thus accounting for more than 49% of the global ventricular assist devices market in 2016. In addition, destination therapy segment is expected to witness the highest CAGR of 13.4% during the forecast period. By design, implantable ventricular assist device dominated the market with three-fourths share in the global ventricular assist devices market.
Inquiry for Buying@ https://www.alliedmarketresearch.com/purchase-enquiry/2024
Similar Reports With COVID-19 Impact:
Hospital Information System Market Opportunities and Forecasts, 2020-2027
Held Pulse Oximeter Market- Opportunities and Forecasts, 2020-2027
Biosimulation Market Opportunities and Forecasts, 2020-2027
Alzheimers Disease Therapeutics Diagnostics Market Opportunities and Forecasts, 2020-2027
Covid-19 Diagnostics Market Opportunities and Forecasts, 2020-2027
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small medium enterprises.
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research
This content has been published by Allied Analytics company. The WiredRelease News Department was not involved in the creation of this content. For press release service enquiry, please reach us at firstname.lastname@example.org.