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Global Ventricular Assist Devices Market: About this marketSpeak directly to the analyst to clarify any post sales queries you may have.
The ventricular assist devices market analysis considers sales from left and right ventricular assist devices and bi-ventricular assist devices products. Our study also finds the sales of ventricular assist devices in Asia, Europe, North America, and ROW. In 2019, the left and right ventricular assist devices segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing prevalence of end-stage heart failure and rising number of new product launches will play a significant role in the left and right ventricular assist devices segment to maintain its market position. Also, our global ventricular assist devices market report looks at factors such as increasing prevalence of heart failure, new product launches, and scarcity of donor hearts for transplantation. However, high costs associated with ventricular assist devices, complications related to implantation of ventricular assist devices, and frequent product recalls may hamper the growth of the ventricular assist devices industry over the forecast period.
Global Ventricular Assist Devices Market: Overview
Increasing prevalence of heart failure
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 will lead to the expansion of the global ventricular assist devices market at a CAGR of almost 12% during the forecast period.
Technological advances
The procurement and maintenance of medical equipment account for a significant part of a healthcare organization's operational expenses. However, growing technological innovations have enabled a paradigm shift in the cost as well as the manageability of medical equipment. Technologically advanced and innovative ventricular assist devices are used to aid in cardiac circulation, which can partially or completely replace the function of the heart. Second-generation ventricular assist devices include implantable, continuous flow, rotary pumps with axial flow. Market vendors are also developing third-generation ventricular support devices that are incorporated with centrifugal continuous-flow pumps, which provide enhanced durability and reliability. This development is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of several major players, the global ventricular assist devices market is fragmented. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading ventricular assist devices manufacturers, that include Abbott Laboratories, Abiomed Inc., Asahi Kasei Corp., Berlin Heart GmbH, CorWave SA, Fresenius Medical Care AG & Co. KGaA, Jarvik Heart Inc., LivaNova Plc, Medtronic Plc, and Mohawk Innovative Technology Inc.
Also, the ventricular assist devices market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Table of Contents
PART 01: EXECUTIVE SUMMARYPART 07: CUSTOMER LANDSCAPEPART 09: DECISION FRAMEWORK
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY PRODUCT
PART 08: GEOGRAPHIC LANDSCAPE
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
List of Exhibits
Executive Summary
The following companies as the key players in the global ventricular assist devices market: Abbott Laboratories, Abiomed Inc., Asahi Kasei Corp., Berlin Heart GmbH, CorWave SA, Fresenius Medical Care AG & Co. KGaA, Jarvik Heart Inc., LivaNova Plc, Medtronic Plc, and Mohawk Innovative Technology Inc.Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the technological advances.”
According to the report, one of the major drivers for this market is the increasing prevalence of heart failure.
Further, the report states that one of the major factors hindering the growth of this market is the frequent product recalls.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Abbott Laboratories
- Abiomed Inc.
- Asahi Kasei Corp.
- Berlin Heart GmbH
- CorWave SA
- Fresenius Medical Care AG & Co. KGaA
- Jarvik Heart Inc.
- LivaNova Plc
- Medtronic Plc
- Mohawk Innovative Technology Inc.
