The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s ventricular assist device market report forecasts the ventricular assist device market size to grow to $3.02 Billion by 2027, with a CAGR (compound annual growth rate) of more than 12%.

Learn More On The Ventricular Assist Device Market Report 2023 – https://www.thebusinessresearchcompany.com/report/ventricular-assist-device-global-market-report

Ventricular Assist Device Market Size Forecast
The global ventricular assist device market is expected to grow from $1.71 billion in 2022 to $1.92 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ventricular assist device market size is expected to grow to $3.02 billion in 2027 at a CAGR of 12.0%.

North America held the largest ventricular assist device market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Ventricular Assist Device Market Driver ­– Increase In The Prevalence Of Cardiovascular Disorders
For instance, in 2021, according to the World Health Organization, a Switzerland-based government agency, India would account for one-fifth of the total deaths occurring from stroke and ischemic heart disease, mainly in younger adults. Additionally, according to the Center for Disease Control and prevention, an American national public health agency, approximately 697,000 people in the US died from heart disease in 2020 which converted to almost 1 in 5 deaths. Therefore, the increase in the prevalence of cardiovascular disorders is expected to boost demand for ventricular assist devices during the forecast period.

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Key Ventricular Assist Device Market Trend – Technological Advancement
The company operating in the ventricular assist device sector are focusing on developing next-generation ventricular assist devices to improve the function of blood circulation. Key players are focusing on developing ventricular assist devices with new technology to gain a competitive edge and strengthen their position in the market. For instance, CorWave, a France-based medical technology company has developed left ventricular assist device (LVAD) membrane pump technology. This LVAD based on membrane pump technology utilizes a pulse pump (electromagnetic pulses) instead of a rotary pump to move blood and more closely encourages the movement of blood in a heart. It creates a pulsatile pumping action much more similar to the native heart.

Ventricular Assist Device Market Segment
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 User: Hospitals, Ambulatory Surgical Centers, Cardiology Centers

Ventricular Assist Device Market Major Players and Strategies
Major players in the ventricular assist device market are Berlin Heart GmbH, Abiomed Inc., ReliantHeart Inc., CorWave SA, Cirtec, Abbott, Cardiac Assist Inc., Jarvik Heart Inc., Bivacor Inc., Calon Cardio, Terumo Medical Corporation, Syncardia Systems LLC, Boston Scientific Corporation, Heart Ware International, and LivaNova PLC.

The Ventricular Assist Device Global Market Report 2023 covers regional data on ventricular assist device market size, ventricular assist device market trends and drivers, opportunities, strategies, and ventricular assist device market competitor analysis. The countries covered in the ventricular assist device market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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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