Ventricular Assist Device Market Trend 2021: Industry Upcoming Developments, Global Economics, Market Dynamics, Size, Share, Emerging Trends, Business Strategies of Top Key Players, Revenue Forecast 2031

Global Ventricular Assist Device Market report from Global Insight Services is the single authoritative source of intelligence on Ventricular Assist Device Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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A ventricular assist device (VAD) is a mechanical pump that is implanted inside the chest to help pump blood from the heart to the rest of the body. The device is used to treat heart failure, and is usually implanted in patients who are not eligible for a heart transplant.

Key Trends

The key trends in Ventricular Assist Device technology are miniaturization, wireless connectivity, and artificial intelligence.

Miniaturization: There is a trend towards smaller and more compact ventricular assist devices. This is driven by advances in manufacturing and materials technology, which allow for smaller devices with more features.

Wireless connectivity: Another trend is toward wireless connectivity. This allows for easier patient monitoring and data collection. It also allows for remote control of the device, which can be useful in emergency situations.

Artificial intelligence: Another trend is the use of artificial intelligence in ventricular assist devices. This can be used to improve the efficiency of the device and to make it easier to use.

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Key Drivers

The key drivers of the ventricular assist device market are the increasing prevalence of cardiovascular diseases and the rising geriatric population. The other drivers include the technological advances in the field of medical devices and the increasing awareness about the benefits of these devices.

The prevalence of cardiovascular diseases is increasing globally due to the sedentary lifestyle and unhealthy diets. The rising geriatric population is also a major driver of the market as the elderly are more susceptible to cardiovascular diseases.

The technological advances in the field of medical devices have led to the development of more sophisticated and efficient ventricular assist devices. The increasing awareness about the benefits of these devices is also fueling the growth of the market.

Market Segmentation

The ventricular assist device market is segmented on the basis of product, application, design, and region. On the basis of product, it is divided into left ventricular assist devices (LVADs), right ventricular assist devices (RVADs), and biventricular assist devices (BIVADs).

By application, the market is classified into bridge-to-transplant (BTT) therapy, destination therapy, bridge-to-recovery (BTR) therapy, and bridge-to-candidacy (BTC) therapy. By design, the market is bifurcated into transcutaneous and implantable ventricular assist devices. Region-wise, the ventricular assist devices market is analyzed across North America, Europe, Asia-Pacific and rest of the world.

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Key Players

The key players that operate in the global ventricular assist devices market include Abiomed, Inc., Berlin Heart GmbH, Boston Scientific Corporation, Calon Cardio, Jarvik Heart, Inc., LivaNova PLC, Medtronic plc, ReliantHeart Inc., Abbott Laboratories, and Terumo Medical Corporation.

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