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According to The Business Research Company’s report on Left Ventricular Assist Devices, the global market is projected to increase from $1.36 billion in 2022 to $1.50 billion in 2023, with a 10.4% CAGR. By 2027, the market size is estimated to reach $2.11 billion, growing at an 8.9% CAGR.

What was the major driver in the left ventricular assist devices market?
The increasing prevalence of cardiovascular diseases propels the left ventricular assist device market. Cardiovascular diseases encompass heart and blood vessel disorders, including coronary and congenital heart diseases. In advanced heart failure, a left ventricular assist device aids the left ventricle, which pumps blood to body tissues. For instance, according to the UK’s British Heart Foundation, deaths from heart and circulatory diseases rose from 163,888 in 2019 to 168,319 in 2020. Moreover, data from the New York government in December 2022 reveals that heart disease claims about 697,000 lives annually in the United States, with 805,000 Americans experiencing heart attacks, including 605,000 first-time incidents and 200,000 resulting from previous heart attacks. Hence, the increasing prevalence of cardiovascular diseases drives the left ventricular assist device market’s growth.

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What was the key trend in the left ventricular assist devices market?
Technological advancements are a prominent trend in the left ventricular assist device market. Leading companies in this sector adopt innovative technologies to maintain their market position. For example, in January 2021, CorWave SA, a France-based medical device company, introduced LVAD membrane pump technology. This technology employs a pulse pump using electromagnetic pulses instead of a rotary pump, closely simulating a heartbeat’s action, producing a more natural pulsatile pumping activity.

Which was the largest region in the left ventricular assist devices market?
North America was the largest region in the left ventricular assist devices market in 2022. The regions covered in left ventricular assist devices report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the left ventricular assist devices market prominent players?
Major players in the left ventricular assist devices market are Abbott Laboratories, Medtronic plc., Terumo Corporation, St. Jude Medical, MAQUET GmbH & Co., Saft, LivaNova Plc, Thoratec Corporation, Abiomed Inc, Heart Ware International Inc., Transonic Systems, Berlin Heart GmbH, BioVentrix, Cleveland Heart Inc., Jarvik Heart Inc., CorWave SA, SynCardia Systems LLC, NuPulseCV Inc., Fineheart, Procyrion Inc, Carmat SA, BiVACOR Inc, Cardiac Assist Inc., Leviticus Cardio Ltd., AdjuCor GmbH, Calon Cardio-Technology Ltd, Evaheart Inc., Sunshine Heart Inc., CH Biomedical Inc., and Sun Medical Technology Research Corp.

Key left ventricular assist devices market segments
The global left ventricular assist devices market is segmented –
1) By Type: Transcutaneous Left Ventricular Assist Devices, Implantable Left Ventricular Assist Devices
2) By Type of Flow: Pulsatile, Non-Pulsatile
3) By Application: Bridge-to-Recovery (BTR) Therapy, Bridge-to-Transplant (BTT) Therapy, Destination Therapy, Bridge-to-Candidacy (BTC) Therapy
4) By End-user: Cardiology Centers, Hospitals

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The Left Ventricular Assist Devices Global Market Report 2023  provides a comprehensive overview on the left ventricular assist devices market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

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