[FURL=https://www.industryarc.com/Report/16935/ventricular-assist-device-market.html]Ventricular Assist Device Market[/FURL] size is $1.35 Bn in 2019, growing at a CAGR of 11.8% during the forecast period 2020-2025. Ventricular Assist Device is a mechanical pump used to support heart function and blood flow in individuals who have weakened hearts or cardiac problems. A ventricular assist device (VAD) takes blood from a lower chamber of the heart and helps pump it into the body and vital organs. It is used to support hearts during or after surgery until it recovers, or when a patient is waiting for a heart transplant or can be a long term solution for patients who are not eligible for heart transplant. These devices are implanted in the patient’s body when ventricles fail to perform their function owing to various medical conditions such as Bundle branch block, Myocardial Infarction (MI).Key Takeaways
Increasing developments in the therapy process and increased functional capacity and performance is driving factors for the growth of Ventricular Assist Device market.
Europe region is estimated to record the fastest growth rate during the forecast period 2020-2025.
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Geography - Segment Analysis
In 2019, the North America region dominated Ventricular Assist Device Market in terms of revenue with a market share of 52.1% owing towards owing to the presence of established payers and an increase in the number of cardiovascular disease patients in the region. This growth can be attributed towards the advanced healthcare infrastructure with technological practice, higher spending by citizens on healthcare, growing old age and cardiac patient pool, favorable government policies are key factors in the growth of the Ventricular Assist Device market.
Drivers – Ventricular Assist Device Market
Increase In The Prevalence of Cardiovascular Diseases
According to the World Health Organization, an estimated 17.9 million people die owing to cardiovascular diseases worldwide, each year with 35% of global deaths and 85% of these cardiovascular disease deaths are owing to heart attack and stroke. The increase in the prevalence of Ventricular Assist Device is driving the Ventricular Assist Device Market owing towards the increase of manufacturers focusing on expanding their pipeline to cater to the demand for Ventricular Assist Device treatment.
Ventricular Assist Device Industry Outlook: Ventricular Assist Device top 10 companies include Abiomed Inc., BiVACOR Inc, Abbott Laboratories, Medtronic PLC, Terumo Corporation, Asahi Kasei Corporation, Berlin Heart GmbH, Calon Cardio-Technology Ltd., CardiacAssist Technologies, and Jarvik Heart.
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