LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global ventricular assist devices market since 2015 and the market is poised to grow by USD 943.27 million during 2020-2024 at a CAGR of almost 12% during the forecast period. Request Free Sample Pages
Read the 145-page research report with TOC on "Ventricular Assist Devices Market Analysis Report by Geography (Asia, Europe, North America, and ROW), by Product (Left and right ventricular assist devices, and Bi-ventricular assist devices), and Segment Forecasts, 2020-2024".
The market is driven by the increasing prevalence of heart failure. In addition, increase in technological advances is anticipated to further boost the growth of the ventricular assist devices market.
Patients who suffer from chronic cardiovascular diseases have a high risk of developing heart failure. Ischemic heart disease is found to be one of the most common causes of heart failure. Surgeons use implantable mechanical pumps such as ventricular assist devices in patients with heart failure or those with a weak heart muscle. In addition, the implantation of ventricular assist devices is also recommended for patients with congestive heart failure. Thus, the increasing prevalence of heart failure is expected to drive market growth during the forecast period.
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Major Five Ventricular Assist Devices Market Companies:
Abbott Laboratories
Abbott Laboratories is headquartered in the US and operates the business under various segments such as Established Pharmaceuticals, Nutritionals, Diagnostics, and Cardiovascular and Neuromodulation. The company offers a left ventricular assist device, HeartMate 3 LVAD.
Abiomed Inc.
Abiomed Inc. is headquartered in the US and offers products through its Unified business segment. The company offers Impella 2.5 and Impella RP to various end-user industries including hospitals, clinics, and ASCs.
Asahi Kasei Corp.
Asahi Kasei Corp. is headquartered in Japan and operates under various business segments, namely Material, Homes, and Health Care. The company offers an implantable left ventricular assist system, Evaheart LVAS.
Berlin Heart GmbH
Berlin Heart GmbH is headquartered in Germany and offers products through its Unified Business Segment. The company offers a mechanical paracorporeal ventricular assist device, EXCOR Adult to various end-user industries including hospitals, clinics, and ASCs.
CorWave SA
CorWave SA is headquartered in France and offers products through its Unified business segment. The company offers a next-generation left ventricular assist device, Neptune to various end-user industries including hospitals, clinics, and ASCs.
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Ventricular Assist Devices Product Outlook (Revenue, USD Million, 2020-2024)
- Left and right ventricular assist devices
- Bi-ventricular assist devices
Ventricular Assist Devices Regional Outlook (Revenue, USD Million, 2020-2024)
- Asia
- Europe
- North America
- ROW
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