Global Ventricular Assist Devices Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Type (Left Ventricular Assist Device, Right Ventricular Assist Device, Bi-Ventricular Assist Device), By Application (Bridge-To-Candidacy, Bridge-To-Transplant, Destination Therapy), And By Geography - Forecasts From 2021 To 2026

The global ventricular assist devices market is evaluated at US$1,444.505 million for the year 2019 and is projected to grow at a CAGR of 10.35% reaching the market size of US$2,877.968 million by the year 2026.

Market overview.

Ventricular assist devices are mechanical pumps used to support cardiac circulation in patients who have weakened hearts.

The rising prevalence of cardiovascular diseases and an enormous gap between the demand and supply of donor hearts are the prime factors for driving the growth of the market. According to a World Health Organization report, nearly 17.9 million people around the globe die because of cardiovascular disease every year, which accounts for 31% of all deaths. Moreover increasing number of regulatory approvals also acts as a driving factor for the growth of the market. However high cost of ventricular assist devices along with the high cost of implantation works as the restraining factor for the growth of the market.

 

Impact of COVID-19 on the market.

The advent of COVID-19 had a positive impact on the market of ventricular assist devices as it became an integral part of the treatment procedures that were followed during the period to cure the patients. Moreover, WHO declared COVID-19 a pandemic as the increase in the number of cases was exponential in the initial months. The medical authorities advised the hospitals and other such medical institutions to stock up the requirements to never run out of supplies during the treatments, which in turn, increased the demand for VADs in the year 2020.

North America is anticipated to hold a substantial share in the market.

Global Ventricular Assist Devices Market Scope:

Report Metric	Details
Market size value in 2019	US$1,444.505 million
Market size value in 2026	US$2,877.968 million
Growth Rate	CAGR of 10.35% from 2019 to 2026
Base year	2019
Forecast period	2021–2026
Forecast Unit (Value)	USD Million
Segments covered	Type, Application, And Geography
Regions covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies covered	Calon Cardio, Jarvik Heart Inc., MAQUET Holding BV & Co. KG, Medtronic PLC,   SynCardia Systems LLC, Terumo Corporation, Abiomed Inc., BiVACOR Inc., Abbott   Laboratories, Berlin Heart GmbH
Customization scope	Free report customization with purchase

 

Segmentation

• By Type
  • Left ventricular assist device (LVAD)
  • Right ventricular assist device (RVAD)
  • Bi-Ventricular Assist Device (BVAD)
• By Application
  • Bridge-To-Candidacy (BTC)
  • Bridge-To-Transplant (BTT)
  • Destination Therapy (DT)
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • UK
    • Others
  • Middle East & Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

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Frequently Asked Questions (FAQs)

Q1. What will be the ventricular assist devices market size by 2026?
A1. The global ventricular assist devices market is projected to reach a market size of US$2,877.968 million in 2026.

Q2. What is the size of global ventricular assist devices market?
A2. Ventricular Assist Devices Market was valued at US$1,444.505 million in 2019.

Q3. What are the growth prospects for the ventricular assist devices market?
A3. The ventricular assist devices market is projected to grow at a CAGR of 10.35% over the forecast period.

Q4. Which region holds the maximum market share of the ventricular assist devices market?
A4. North America is anticipated to hold a substantial share in the ventricular assist devices market.

Q5. What factors are anticipated to drive the ventricular assist devices market growth?
A5. The major factors that drive the global ventricular assist devices market growth include an increase in the incidence of patients with heart failure and a shortage of heart donors.

 

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