How Will the Ventricular Assist Device Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How Will the Ventricular Assist Device Market Grow Over the Forecast Period Based on Its Expected CAGR?
The market for ventricular assist devices has seen a surge in size over the past few years. It is projected to expand from $2.12 billion in 2024 to $2.39 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 12.6%. The past expansion can be ascribed to a rising occurrence of heart failure and an increased necessity for organ transplantation procedures.
Expectations are high for substantial expansion in the ventricular assist device market in the coming years. By 2029, it is projected to have grown to a sizable $3.91 billion, with a compound annual growth rate (CAGR) of 13.1%. This predicted growth is largely due to factors such as the growing demand for destination therapy, an aging demographic, increased health budget allocations, and heightened awareness regarding heart failure treatments. In the years ahead, we can expect several trends, including enhancement of VAD longevity, miniaturization of VADs, progressive pump technologies, an amplified focus on safety and efficiency of VAd, an emphasis on minimizing VAD-related side effects, and the development of ventricular assist devices inserted percutaneously.
Which Factors Are Enhancing the Growth of the ventricular assist device Market?
The surge in cardiovascular ailments is fueling the growth of the ventricular assist device market. Heart diseases, which are the upshot of high blood pressure, smoking, elevated cholesterol, sedentary lifestyle, and other elements, are known as cardiovascular disorders. Noncommunicable afflictions such as diabetes, chronic respiratory illness, and heart attacks caused by hypertension have also contributed to the rise in cardiovascular disorders. The marked rise in these disorders is projected to increase the need for ventricular assist devices, which serve as a crucial lifeline for critically sick heart patients. In October 2022, the National Library of Medicine, an American federal agency, predicted that by 2035, 45.1% of the American population will suffer from cardiovascular disease. The complete expenditure on cardiovascular illnesses is forecasted to reach $1.1 trillion in 2035. Consequently, the surge in the incidence of cardiovascular diseases is expected to fuel the demand for ventricular assist devices during the anticipated period.
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Who Are the Dominant Players Expanding Their Reach in the Ventricular Assist Device Market?
Major companies operating in the ventricular assist device market include:
• Abiomed_x000D_
• Abbott Laboratories_x000D_
• Medtronic_x000D_
• LivaNova PLC_x000D_
• Terumo Corporation_x000D_
What Are the Top Trends Shaping the Evolution of the Ventricular Assist Device Market?
Ventricular assist devices that are inserted percutaneously are enjoying an increased preference in the marketplace. These devices, which are non-pulsatile axial flow pumps, are placed over the aortic valve and pump blood away from the left ventricle of the heart. By reducing the pressure on the left ventricle and decreasing myocardial oxygen consumption, a percutaneously inserted VAD enhances cardiac output and curbs the end-diastolic pressure in the left ventricle. For instance, in August 2022, Abiomed Inc., a medical device firm based in the U.S, launched Impella, a percutaneous VAD suitable for qualifying pediatric patients within the USA. This device offers adequate cardiac support for patients experiencing left ventricle failure. It can either replace extracorporeal membrane oxygenation (ECMO) or work alongside other treatments to better the patient’s hemodynamics.
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Which Segments of the Ventricular Assist Device Market Hold the Most Potential for Future Development?
The ventricular assist device market covered in this report is segmented –
1) By Product: Left Ventricular Assist Devices (LVADs), Right Ventricular Assist Devices (RVADs), Biventricular Assist Devices (BIVADs).
2) By Type: Pulsatile Flow, Continuous Flow
3) By Design: Transcutaneous Ventricular Assist Devices, Implantable Ventricular Assist Devices
4) By Application: Bridge-To-Transplant (BTT) Therapy, Destination Therapy, Bridge-To-Recovery (BTR) Therapy, Bridge-To-Candidacy (BTC) Therapy
5) By End Users: Hospital, Ambulatory Surgical Centres, Cardiology Centres
Subsegments:
1) By Left Ventricular Assist Devices (LVADs): Implantable LVADs, Temporary LVADs
2) By Right Ventricular Assist Devices (RVADs): Implantable RVADs, Temporary RVADs
3) By Biventricular Assist Devices (BIVADs): Full Support BIVADs, Hybrid BIVADs
Which Regions Are Setting the Pace for Ventricular Assist Device Market Growth?
North America was the largest region in the ventricular assist device market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ventricular assist device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Ventricular Assist Device Market Defined Across Different Regions?
A ventricular assist device refers to an implantable mechanical circulatory device used to treat heart failure by pumping blood from the heart to the rest of the body, improving circulation to vital organs. A wide range of ventricular assist devices are approved by the US FDA to provide long-term or permanent support to patients with end-stage heart failure.
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