Growth Opportunities and Trends in the Left Ventricular Assist Devices Market: Key Insights for 2025-2034
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What fueled the previous growth in the left ventricular assist devices market?
Over the past few years, the market size for left ventricular assist devices has seen substantial growth. It is projected to climb from $1.6 billion in 2024 to $1.74 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 8.8%. Growth in the previous period was primarily due to factors such as post-market surveillance and data, minimized device size and noise, educational and awareness initiatives, enhanced physician experience, and their rising use in bridge therapy.
What will be the left ventricular assist devices market size in the future?
The market for left ventricular assist devices is predicted to experience robust growth in the coming years, reaching a value of $2.52 billion in 2029, with a compound annual growth rate (CAGR) of 9.6%. Factors contributing to this growth during the forecast period include expanded usage, an increase in heart failure cases, improved patient outcomes, market approval, and regulatory changes, along with a drive towards destination therapy. Key trends during this period will involve improvements in implantation methods, the evolution of dual-pump systems, an increased utilization as a destination therapy, a focus on reducing infection risks, integration with heart failure management initiatives, and better management of anticoagulation.
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What main drivers are fueling expansion in the left ventricular assist devices market?
The growth of the left ventricular assist device market is forecasted to be spurred by the increasing occurrence of cardiovascular diseases. Cardiovascular diseases are a collection of disorders affecting the heart and blood vessels, including coronary heart disease, congenital heart disease, and more. For instances of severe heart failure, a left ventricular assist device is used to aid the left ventricle of the heart in pumping blood to the tissues of the body. For example, data from the Office for Health Improvement and Disparities, a UK government body, showed that in March 2024, there were slightly more than 1,862,500 individuals (or 3% of the population) in England who had a GP diagnosis of CHD in 2023. Similarly, New York government data from December 2022 showed that heart disease causes about 697,000 deaths each year in the United States, accounting for 1 in every 5 fatalities, and approximately 805,000 Americans experience a heart attack each year, with 605,000 of these being first-time heart attacks and 200,000 resulting from previous heart attacks. As a result, the growing occurrence of cardiovascular diseases is a key force behind the growth in the left ventricular assist device market.
What key areas define the segmentation of the global left ventricular assist devices market?
The left ventricular assist devices market covered in this report 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
Subsegments:
1) By Transcutaneous Left Ventricular Assist Devices: Temporary Transcutaneous Devices, Permanent Transcutaneous Devices
2) By Implantable Left Ventricular Assist Devices: Continuous Flow Devices, Pulsatile Flow Devices
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Who are the dominant players expanding their reach in the left ventricular assist devices market?
Major companies operating in the left ventricular assist devices market include Abbott Laboratories, Medtronic plc., Terumo Corporation, St. Jude Medical, MAQUET GmbH & Co., LivaNova Plc, Thoratec Corporation, Abiomed 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., Sun Medical Technology Research Corp
How are evolving market trends shaping left ventricular assist devices Strategies?
Leading corporations within the left ventricular assist devices industry are pioneering technologies such as power management units (PMUs) to boost the effectiveness, trustworthiness, and lifespan of these devices. Fundamentally, a power management unit (PMU) is a compound circuit that controls and handles the power distribution to several elements within electronic tools. For example, Renesas Electronics, a semiconductor producer based in Japan, introduced SmartBond DA1470x in June 2022. The SmartBond DA1470x series denotes a considerable progress in BLE technology, offering developers a flexible structure to develop innovative IoT products while minimising costs and boosting performance. Its extensive level of integration eases the design, enhances reliability, and shortens the time it takes to get to the market for various applications.
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Which regions are emerging as leaders in the left ventricular assist devices market?
North America was the largest region in the left ventricular assist devices market in 2024. The regions covered in the left ventricular assist devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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