Allied Market Research has recently unveiled a research study titled "Ventricular Assist Devices Market Outlook and Forecast 2021-2031." This report delivers a comprehensive analysis of market risks, spotlights opportunities, and provides essential support for strategic and tactical decision-making spanning from 2021 to 2031. The study categorizes the market by pivotal regions propelling its growth and commercialization. Moreover, the report encompasses vital insights into market research and development, growth catalysts, and the evolving investment landscape within the Ventricular Assist Devices Market.
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Ventricular Assist Devices Market Statistics: The global ventricular assist devices market size was valued at $1,338.53 million in 2021, and is projected to reach $2,880.66 million by 2031, growing at a CAGR of 7.9% from 2022 to 2031.
Ventricular Assist Devices Market Growth Drivers:
- Rising Incidence of Heart Failure: The increasing prevalence of heart failure worldwide is a major driver for the demand for Ventricular Assist Devices. As the population ages and cardiovascular diseases become more prevalent, the need for advanced cardiac support devices rises.
- Shortage of Donor Hearts: The scarcity of donor hearts for transplantation has led to the growing adoption of Ventricular Assist Devices as a bridge to transplant or as destination therapy for patients who are not eligible for heart transplantation.
- Technological Advancements: Ongoing advancements in VAD technologies, including improvements in device design, materials, and functionality, contribute to enhanced device performance, reduced complications, and increased patient outcomes.
- Increasing Awareness and Education: Growing awareness among healthcare professionals and patients about the benefits of Ventricular Assist Devices has led to earlier consideration and adoption of these devices, improving overall patient outcomes.
- Aging Population: The global demographic shift toward an aging population correlates with an increased incidence of heart-related issues. This demographic trend is a significant driver for the Ventricular Assist Devices Market.
- Expansion of Indications: The expanding indications for Ventricular Assist Devices, including their use in pediatric patients and less severe heart failure cases, contribute to a broader market base and increased adoption.
- Improved Device Portability: Advancements in device miniaturization and portability have made Ventricular Assist Devices more accessible and suitable for a wider range of patients, including those who may benefit from ambulatory support.
- Government Initiatives and Funding: Supportive government initiatives, grants, and funding for research and development in the field of mechanical circulatory support devices contribute to technological advancements and market growth.
- Clinical Evidence and Research: Growing clinical evidence supporting the efficacy and safety of Ventricular Assist Devices, coupled with ongoing research in the field, boosts confidence among healthcare professionals and facilitates broader adoption.
- Collaborations and Partnerships: Collaborations between medical device manufacturers, research institutions, and healthcare providers foster innovation and drive the development of advanced Ventricular Assist Devices.
- Patient Preferences for Improved Quality of Life: The desire for improved quality of life among heart failure patients, including the ability to engage in daily activities, drives the acceptance and demand for Ventricular Assist Devices.
- Reimbursement Support: The availability of reimbursement for Ventricular Assist Devices procedures in various healthcare systems encourages healthcare providers and patients to consider these devices as viable treatment options.
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The segments and sub-section of Steam Cell Banking market is shown below:
By Product:
- Left Ventricular Assist Devices (LVADs)
- Right Ventricular Assist Devices (RVADs)
- Biventricular Assist Devices (BIVADs)
By Application:
- Bridge-To-Transplant (BTT)
- Destination Therapy
- Bridge-To-Recovery (BTR)
- Bridge To Candidacy Therapy
By Design:
- Transcutaneous Ventricular Assist Devices
- Implantable Ventricular Assist Devices
By Age:
- Adults
- Pediatrics
Some of the key players involved in the Market are: Calon Cardio-Technology Ltd, LivaNova PLC, AdjuCor GmbH, SynCardia Systems, LLC, Berlin Heart GmbH, Corewave SA, Bivacor Inc., Windmill Cardiovascular Systems, Abbott Laboratories, Jarvik Heart, Inc., NuPulseCV, Inc., Fineheart, Abiomed, Inc., CH Biomedical, Inc., Carmat SA, Evaheart, Inc.
If opting for the Global version of Ventricular Assist Devices Market; then below country analysis would be included:
– North America (USA, Canada and Mexico)
– Europe (Germany, France, the United Kingdom, Netherlands, Italy, Nordic Nations, Spain, Switzerland and Rest of Europe)
– Asia-Pacific (China, Japan, Australia, New Zealand, South Korea, India, Southeast Asia and Rest of APAC)
– South America (Brazil, Argentina, Chile, Colombia, Rest of countries etc.)
– Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, Egypt, Turkey, Nigeria, South Africa, Rest of MEA)
Key Questions Answered with this Study:
1) What makes Ventricular Assist Devices Market feasible for long term investment?
2) How are factors influencing the driving demand of Ventricular Assist Devices in the next few years?
3) Territory that may see steep rise in CAGR & Y-O-Y growth?
4) What geographic region would have better demand for products/services?
5) What opportunity emerging territory would offer to established and new entrants in Ventricular Assist Devices Market?
6) What strategies of big players help them acquire share in mature market?
7) Know value chain areas where players can create value?
8) What is the impact analysis of various factors in the Ventricular Assist Devices Market growth?
9) Risk side analysis connected with service providers?
Introduction about Ventricular Assist Devices Market
Ventricular Assist Devices Market Size (Sales) Market Share by Type (Product Category)
Ventricular Assist Devices Market by Application/End Users
Ventricular Assist Devices (Volume) and Market Share Comparison by Applications
Global Ventricular Assist Devices and Growth Rate (2021-2031)
Ventricular Assist Devices Competition by Players/Suppliers, Region, Type, and Application
Ventricular Assist Devices (Volume, Value, and Sales Price) table defined for each geographic region defined.
Ventricular Assist Devices Players/Suppliers Profiles and Sales Data
Key Raw Materials Analysis & Price Trends
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