Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for global professionals · Thursday, March 28, 2024 · 699,506,218 Articles · 3+ Million Readers

Advancements in Medical Devices Contributing to the Growth of Left Ventricular Assist Device Market to Grow at a CAGR of 10.5% during 2018-2024 : Energias Market Research Pvt. Ltd.

NEW YORK, March 19, 2018 (GLOBE NEWSWIRE) -- The global left ventricular assist device (LVADs) market is expected to grow significantly from USD 1,024 million in 2017 to USD 2,043 million in 2024, at a CAGR of 10.5% from 2018 to 2024. The key factor propelling the growth of the global left ventricular assist device (LVADs) market is increasing prevalence of heart failure coupled with limitation of suitable organ donors. Additionally, growing number of devices and therapy approvals, along with technological advancements in product design is further boosting the growth of the global left ventricular assist device market. However, high cost associated with the implantation may hinder the growth of the market to some extent.  

The report segments the global left ventricular assist device (LVADs) market by Type of Indication (destination therapy, bridge to transplantation, bridge to recovery, and bridge to destination), by End-User (hospitals, and cardiology centers), and by Region (North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa).

Left ventricular assist device is a mechanical pump that is used for the patients who are suffering from heart failure disease. The left ventricular assist device is surgically implanted inside the patient’s chest. The left ventricular assist device works with the heart to pump more blood, and improves other organ function by improving blood flow to the brain, kidney, liver, and other body organs. The device continuously takes blood from the left ventricle and passes it to the aorta. Doctors implant this device for treatment of severe heart conditions such as chronic cardiac function disorders, and heart failure.

Browse full research report with TOC on “Global Left Ventricular Assist Device (LVADs) Market, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation and Forecast 2024” at:  https://www.energiasmarketresearch.com/left-ventricular-assist-device-treatment-market-outlook/

To purchase report:  sales@energiasmarketresearch.com

Key Findings of the Global Left Ventricular Assist Device (LVADs) Market Report

  • The global left ventricular assist device (LVADs) market is expected to reach USD 2,043 million by 2024 at CAGR of 10.5%
  • On the basis of Type of Indication:
     
    • The bridge to transplantation segment holds the largest share of the global LVADs market in 2017 and is expected to grow at a significant rate during the forecast period owing to larger number of devices available for use as bridge-to-transplantation
    • The destination therapy, segment is expected to be the fastest growing segment of the global LVADs market in 2017

  • Geographically, North America holds the major share of the global LVADs market in 2017, owing to the growing number of heart failure patients, and shortage of organ donors in the region.  Furthermore, favorable government policies, and adoption of new technologies is also driving the growth in the North American LVADs market
  • Key players profiled in the global LVADs market are Abbott Laboratories, Abiomed, Berlin Heart Gmbh, Thoratec Corporation, Jarvik Heart Inc., Heart Ware International Inc., Apaxis, Inc., CorWave, Evaheart, Inc., and  St Jude Medical, Reliantheart

Advancements in Medical Devices Contributing to Increased Life Expectancy -

Heart failure is a major problem worldwide and causes hospitalizations every day and can even lead to death in some cases. Heart transplantation improves quality of life in patients with advance heart failure but the organ supply is limited. In recent years, advancements in medical equipment technology and new techniques for implantation, as well as government initiative to approve medical devices is providing new hope to the heart failure patients. The left ventricular assist device is a viable option for patients who are suffering from end-stage heart failure. LVAD is surgically implanted in patient’s chest and continuously takes blood from the left ventricle and passes it to the aorta. Key players in medical device industry are conducting clinical trials for the development of new medical devices and improve implantation techniques.

Global Left ventricular assist device (LVADs) Market – Regional Insight

Geographically, the global left ventricular assist device market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa. North America holds the major share of global LVADs market, owing to growing number of heart failure patients, and shortage of organ donors in the region. Moreover adoption of new technology and favorable government policies, are also boosting the market growth. In the U.S., approximately 5.7 million people suffer from heart failure and around 915,000 new patients are diagnosed with the disease every year.  Asia-Pacific region is expected to witness fastest growth rate during the forecast period, owing to increasing incidence of cardiovascular diseases, and growing number of elderly patients. Growth of left ventricular assist device market in Europe is mainly due to European regulatory approval for the introduction of new medical devices.

About Energias Market Research Pvt. Ltd. -

Energias Market Research Pvt. Ltd. publishes high-quality reports, in-depth market research studies, to help clients obtain investment level clarity on the current business scenario, trends, and segmentation for their future developments. We are committed to our client’s needs, by providing high-quality custom reports solutions best fit for strategy development and implementation to a high return of invest (RoI). We believe that exceptional problems need the expertise to solve, and with the help of our industries expertise, we are able to offer an in-depth understanding of what’s crucial, what’s applicable, and what it takes to ensure accomplishment in any business or venture.

With a wide range of expertise from various industrial sectors and more than 50 industries that include energy, chemical and materials, information communication technology, semiconductor industries, healthcare and daily consumer goods, etc. We strive to provide our clients with a one-stop solution for all research and consulting needs.

Contact:

Mr. Manas Nagi

Business Development Manager

For any queries email us: info@energiasmarketresearch.com

To purchase report: sales@energiasmarketresearch.com

Call us: +1-716-239-4915

Visit: https://www.energiasmarketresearch.com/

Primary Logo

Powered by EIN News


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release