Research Nester published a report titled “Ventricular Assist Devices Market: Global Demand Analysis Opportunity Outlook 2033” which delivers a detailed overview of the global ventricular assist devices market in terms of market segmentation by product type, design, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global ventricular assist devices market is projected to grow at a CAGR of ~9% by attaining robust revenue during the forecast period, i.e., 2023 – 2033. Growing cases of cardiovascular disease worldwide are anticipated to propel the growth of the market during the forecast period. World Health Organization (WHO), showed that in 2019, almost 17,9 people died due to some sort of cardiovascular disease. Additionally, a higher prevalence of congenital heart disease is further estimated to propel the market growth over the forecast period. For instance, congenital heart disease (CHDs) is noticed to affect nearly 38,000 births each year in the United States.
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Additionally, by end-user, the global ventricular assist devices market is segmented into specialty clinics, hospitals, ASCs, and others. Out of these sub-segments, the hospitals segment is estimated to obtain the largest share in the market during the forecast period. The growth of the segment can be accounted to the mounting patient pool in the hospitals. In 2018, about 100 million people visited the emergency department (ED).
Furthermore, the global ventricular assist devices market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East Africa region. Out of these regions, the market in the North America region is estimated to grow at a rapid pace over the forecast period on the back of the presence of well-structured healthcare infrastructure and growing demand for ventricular assist devices owing to the rising penetration of cardiac arrest. For instance, it was observed that approximately 0.03 million people become victims of out-of-hospital cardiac arrests every year in the USA.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Exponential Growth in the Number of Heart Attack Incidents to Foster the Growth of the Market
The annual rate of death on account of a heart attack in the USA is estimated to be around 0.08 million.
Heart attack is one of the leading causes of death across the globe and a notable number of people are affected by it over the recent decades. A heart attack is also designated as a myocardial infection where blood can’t pass through a particular heart muscle. Hence, ventricular pumps are used since they are mainly developed to flow the blood from the lower chamber of the heart to the rest of the body. Therefore, such utilization is anticipated to propel the growth of the market during the forecast period.
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However, high costs associated with the requisite equipment and lack of skilled medical professionals are expected to operate as a key restraint to the growth of the global ventricular assist devices market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global ventricular assist devices market which includes company profiling of Abbott Laboratories, Sun Medical Technology Research Corp, Berlin Heart GmbH, Abiomed, Inc., ReliantHeart, Inc., Jarvik Heart, Inc, LivaNova, Inc., Boston Scientific Corporation, Calon cardio-Technology Ltd., Medtronic plc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global ventricular assist devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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