According to the report “Global Cardiac Assist Devices Market,” published by Market Data Forecast, the global market is projected to reach USD 1988.8 Million by 2021, at a CAGR of 8.43% from 2016 to 2021.
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Globally, there are around 25 million cases of Heart failure. The scarcity of donor organs to meet the demands has steered to the development of Cardiac Assist Devices. These are sort of mechanical pumps that work laterally with the heart to enhance its pumping efficiency and uphold the optimum blood flow throughout the body. These devices are employed in patients suffering from End-Stage Congestive Heart Failure, where the chances of survival through medications alone is minimal. Various pipeline products are going through clinical trials in order to provide vigorous clinical data on the safety and efficacy of the devices. The launch and approval of novel technologically advanced products will further increase the demand for cardiac assist devices in the future.
Thoratec Corporation is the leading provider of Ventricular Assist Devices, which controls nearly half of the European Market. It also occupies the prime position in the US market accounting for 75% of the market. MAQUET GmbH & Co occupies the second position with dominance on about 15% of the market. Thoratec Corporation and Berlin Heart are the prominent players in the VAD segment whereas Teleflex and MAQUET are dominant players in the Intra-Aortic Balloon Pumps (IABP) segment. SynCardia is the foremost company to provide the only Food and Drug Administration (FDA) approved Total Artificial Heart (TAH).
The factors influencing the Global Market for Cardiac Assist Devices Market, either positively or negatively are presented in the DROC analysis. Some of the things discussed in the section are Rise in global aging population, upsurge in occurrence of cardiovascular diseases, technological advancements and availability of more efficient and minimally invasive devices in future are driving the global cardiac assist devices market. Furthermore, lack of donor hearts for transplantation is also driving the cardiac assist devices implantations in patients with severe heart complications, thereby increasing the market opportunities.
For granular level understanding the global Cardiac Assist Devices Market is segmented based on the following categories with Market Size Estimations and Y-o-Y Forecasts presented for each sub-segment.
- Ventricular Assist Devices (VAD)
- Right Ventricular Assist Device (RVAD)
- Left Ventricular Assist Device (LVAD)
- Bi-Ventricular Assist Device (Bi-VAD)
- External Ventricular Assist Devices
- Intra-Aortic Balloon Pumps (IABP)
- Total Artificial Heart (TAH)
In addition, on the basis of geography the market is analysed under various regions namely, North America, Europe, Latin America, Asia- Pacific, Middle-east & Africa. North America accounts for the major share in the Global cardiac assist devices, with highest prevalent cases with heart failure. And high patient awareness, technological development, and reimbursements for cardiac assist devices implantation procedures are also helping the market growth in this region. It is followed by Europe, with the second largest market.
For more of regional analysis check out the following reports.
- North America Cardiac Assist Devices Market
- Europe Cardiac Assist Devices Market
- Asia-Pacific Cardiac Assist Devices Market
- Latin America Cardiac Assist Devices Market
- Middle East and Africa Cardiac Assist Devices Market
Thoratec Corporation and Berlin Heart are the prominent players in the VAD segment whereas Teleflex and MAQUET are dominant players in the Intra-Aortic Balloon Pumps (IABP) segment. SynCardia is the foremost company to provide the only Food and Drug Administration (FDA) approved Total Artificial Heart (TAH).
Some other major players on the market include Teleflex Incorporated, Berlin Heart GmbH, Abiomed, Inc., HeartWare International, Jarvik Heart, Inc. and Terumo Corporation. BiVacor Pty Ltd, Braile Biomedica Ltd., Calon Cardio-Technology Ltd., CardiacAssist, Inc., CardioBridge GmbH, Carmat SAS, Cleveland Heart, Inc., CorAssist Cardiovascular Ltd., Evaheart Medical USA, Inc., Leviticus Cardio Ltd., MyoCardioCare, Inc., SynCardia Systems, Inc., Windmill Cardiovascular Systems, Inc.
The Global Cardiac Assist Devices Market study offers the following deliverables:
- Global, regional and country-level analysisand forecasts of the study market; providing Insights on the geographical areas in which this industry is blooming
- Segment-level analysison basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges(DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that effect the global market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market playersalong with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysislisting out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along withInvestment opportunities to provide both individuals and organizations a strong financial foothold in the market
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