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Discover trends, market shifts, and competitive outlooks for the left ventricular assist devices industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
What Are the Key Projections for the CAGR of the Left Ventricular Assist Devices Market Size From 2025 to 2034?
The market size of left ventricular assist devices has seen a substantial increase in the past few years. The market is predicted to expand from $1.6 billion in 2024 to $1.74 billion in 2025, experiencing a compound annual growth rate (CAGR) of 8.8%. The past period’s growth can be linked to factors such as post-market monitoring and data collection, downsizing of devices, less noise produced, awareness initiatives, enhanced experience of physicians, and its increased use in bridge therapy.
In the coming years, a substantial increase is anticipated in the market size of left ventricular assist devices. It is predicted to rise to a total worth of $2.52 billion by 2029, observing a compound annual growth rate (CAGR) of 9.6%. The expected increment during the forecast period is due to a variety of factors, including the broadening of indications, escalation in heart failure incidents, improved patient results, market validation, and legislative modifications, all centered around destination therapy. Key trends projected to impact the market during the forecast period encompass advancements in implementation techniques, the creation of dual-pump schemes, elevated usage as a destination therapy, efforts to curb infection dangers, coherence with heart failure management protocols, and superior management of anticoagulation.
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What Are the Primary Drivers Supporting the Market Growth of the Left Ventricular Assist Devices Market?
The increase in the occurrence of heart-related diseases is anticipated to catalyze the expansion of the left ventricular assist device industry. Cardiovascular disorders encapsulate a variety of heart and blood vessel-related maladies, including coronary and congenital heart illnesses, among others. A left ventricular assist device serves as an aid to the heart’s left ventricle, which supplies blood to body tissues when faced with severe heart failure. For example, the Office for Health Improvement and Disparities, a UK government body, released figures in March 2024 that showed just over 1,862,500 individuals (3%) in England were diagnosed with CHD by a GP in 2023. Additionally, in December 2022, according to the New York government’s data, heart disease lead to around 697,000 deaths annually in the United States, accounting for 1 in 5 fatalities. Approximately 805,000 Americans suffer a heart attack each year, of which, 605,000 are experiencing it for the first time, and 200,000 incidents are the result of previous heart attacks. Thus, the mounting incidence of cardiovascular diseases is stimulating the growth of the left ventricular assist device market.
Which Primary Segments of the Left Ventricular Assist Devices Market Are Driving Growth and Industry Transformations?
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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Which Regions Are Key Players in the Growth of the #What Are the Primary Drivers Supporting the Market Growth of the Left Ventricular Assist Devices Market?# 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.
What Are the Most Significant Market Trends in the Left Ventricular Assist Devices Market?
Key players in the left ventricular assist devices market are pioneering technologies such as power management units (PMUs) to improve the performance, dependability, and lifespan of the devices. A power management unit (PMU) is a type of integrated circuit which controls and oversees the power distribution to different parts of electronic devices. For example, in June 2022, Renesas Electronics, a semiconductor manufacturer from Japan, introduced SmartBond DA1470x. The SmartBond DA1470x range symbolizes a major leap forward in BLE technology, offering developers a flexible platform to craft inventive IoT products while minimizing costs and boosting efficiency. Its advanced level of integration streamlines design processes, heightens reliability, and hastens time-to-market for diverse applications.
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What Parameters Are Used to Define the Left Ventricular Assist Devices Market?
The left ventricular assist device is a mechanical pump implanted in heart failure patients. The device aids in the heart’s lower left chamber (left ventricle), pumping blood to the aorta and the rest of the body.
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