San Francisco, 25 March,
Ventricular Assist Device Market Analysis By Product (Left, Right, Bi-
Ventricular Assist Devices), And Segment Forecasts To 2022.
The global ventricular assist device market is expected to reach USD 1.97 billion by
2022, according to a new report by Grand View Research, Inc. Key factors
attributing to its rapid growth include rising prevalence of cardiovascular
disorders coupled with the development of technological advanced products such
as miniature device with infection reduction technology.
Furthermore, increasing
healthcare expenditure, favorable reimbursement policies and advanced
technological facilities, are expected to positively reinforce ventricular
assist device market growth over the next seven years.
Ventricular assist device
market is segmented on the basis of type of product which includes left
ventricular, right ventricular and bi-ventricular assist device. Key factors
attributing to rapidly increasing number of patients with end stage heart
failure and low availability of therapeutic options are among the key factors
attributing to the market growth.
With continual shortage of
organ donors and increasing demand of LVADs’ for bridge to transplantation in
patients suffering from end stage heart failure, is expected to positively
reinforce market growth over the forecast period.
Lack of developed reimbursement
policies in underdeveloped economies of Africa and Asia is one of the key
factors attributing for low penetration of these device. However, constant
economic development, improving healthcare infrastructure and reimbursement
policies in countries such as India and China is expected to positively
reinforce market growth in next seven years.
Technological advancements in
VADs have been a continuous process since the launch of first generation
device. First generation VADs are referred to as pulsatile volume displacement
pumps which are powered by pneumatic or electrical drive systems. Some of the
U.S. FDA approved products are the Abiomed BVS5000, Worldheart Novacor System
(LVAS).
Second generation ventricular
assist device which are usually known as continuous flow LVADs were developed
to overcome several limitations of the pulsatile displacement systems. At
present, second generation LVADs that are available include the TandemHeart
pVAD, Thoratec Heartmate II, Jarvik 2000, and the Impella Pump System.
Third generation ventricular
assist device such as VentrAssist, DuraHeart, HeartMate III LVAD and others are
currently under various stages of development, clinical trials and
commercialization stages. These third generation ventricular assist device are
continuous flow device with more advancement in product design, materials,
battery capacity and size. Constant development in these devices serves as a
high impact rendering driver for the growth of the market.
Access Full Research Report On Ventricular Assist Device Market Analysis:
Further key findings from the report suggest:
·
In 2014, North America
accounted for largest market share of over55%. Key factors attributing to its
large share include presence of advanced healthcare infrastructure, and high
level of collaboration between various stakeholders including medical fraternity,
medical device industry, regulatory authorities, universities and others.
·
Furthermore, presence of high
research expenditure by public and private entities in healthcare sector is
anticipated to propel market growth for ventricular assist device in the coming
seven years.
·
Asia Pacific is expected to be
one of the fastest growing markets, growing at a CAGR of over17% during the
forecast period. Key factors attributed to the growth are high economic growth
in countries such as China, Brazil, India, and South Korea coupled with high
unmet medical needs is expected to boost usage rates of ventricular assist
device.
·
Key players operating in
ventricular assist device market include Abiomed, HeartWare International,
Thoratec, Inc., Berlin Heart, Cardiac Assist and ReliantHeart
Browse More Reports Of This Category By
Grand View Research At: https://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the
ventricular assist device market on the basis of product and region:
Ventricular Assist device
Product Outlook (Revenue, USD Million, 2014 - 2022)
·
Left ventricular assist device
·
Right ventricular assist device
·
Bi-ventricular assist device
Ventricular Assist device
Regional Outlook (Revenue, USD Million, 2014 - 2022)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
Japan
o
India
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
South Africa
Access Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-ventricular-assist-devices-market
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com/
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