The left ventricular assist device (LVAD) market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 10.8% in the forecast period of 2022 to 2029 and is expected to reach USD 298.94 million by 2029. Rising healthcare expenditure and rising prevalence of cardiac disease are acting as driver for the left ventricular assist device (LVAD) market growth.
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Left Ventricular Assist Device (LVAD) Market Scope and Market Size
· The left ventricular assist device (LVAD) market is segmented on the based on the product type, therapy, age group, indication, generation, durability, design, pulse type, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
· On the basis of product type, the left ventricular assist device (LVAD) market is segmented into heart pump, controller, batteries and wires. In 2022, heart pump segment is expected to dominate the left ventricular assist device (LVAD) market as heart pumps ensures the proper and vital functioning of left ventricular assist devices and enhances the patient satisfaction suffering from heart failure. Moreover, increasing number of heart failure is also accelerating the market growth.
· On the basis of therapy, the left ventricular assist device (LVAD) market is segmented into bridge-to-transplant (BTT) therapy, destination therapy, bridge-to-candidacy (BTC) therapy, bridge-to-recovery (BTR) therapy. In 2022, bridge-to-transplant (BTT) therapy is expected to dominate the market as it is applicable to patients wait for further transplantation and also improves the quality of patients life as it pumps oxygen enriched blood.
· On the basis of age group, the left ventricular assist device (LVAD) market is segmented into adult and pediatric. In 2022, adult is expected to dominate the market due to increasing geriatric population as heart failure mostly affects adult’s population lying in between the age of 55 years to 75 years.
· On the basis of indication, the left ventricular assist device (LVAD) market is segmented into congestive heart failure, congenital heart disease, myocarditis, cardiac arrest, familial arrhythmias and arrhythmic, cardiomyopathies, advanced heart failure and others. In 2022, congestive heart failure segment is expected to dominate the market due to increasing obesity which leads to high rate of heart failures.
· On the basis of generation, the left ventricular assist device (LVAD) market is segmented into second generation devices, third generation devices and first generation devices. In 2022, second generation devices segment is expected to dominate the market as most of the left ventricular assist devices available in the market are of second generation and these smaller devices offers easy implantation with low rates of driveline infections as compared to first generation devices.
· On the basis of durability, the left ventricular assist device (LVAD) market is segmented into long-term, intermediate-term and short-term. In 2022, long-term segment is expected to dominate the market as these devices these acts as an alternative therapy to prevent patients suffering from heart failure.
· On the basis of design, the left ventricular assist device (LVAD) market is segmented into axial and centrifugal. In 2022, axial segment is expected to dominate the market as these have been first approved in the market and still used by several manufacturers while designing LVAD. Moreover, axial segment improves quality of patient’s life especially in patients who survive the perioperative period.
· On the basis of pulse type, the left ventricular assist device (LVAD) market is segmented into nonpulsatile and pulsatile. In 2022, nonpulsatile segment is expected to dominate the market as these are continuous-flow LVAD pumps which in turn improves the cardiac functional benefits in patients suffering from end-stage heart failure.
· On the basis of end user, the left ventricular assist device (LVAD) market is segmented into hospitals, specialty clinics, cardiac cath laboratories and others. In 2022, the hospitals segment is expected to dominate the market due to availability of technologically advanced left ventricular assist devices and presence of trained healthcare professionals.
· On the basis of distribution channel, the left ventricular assist device (LVAD) market is segmented into direct tender, retail sales and others. In 2022, the direct tender segment is expected to dominate the market as direct tenders offers high quality left ventricular assist devices in a cost-effective manner.
Left Ventricular Assist Device (LVAD) Market Country Level Analysis
The left ventricular assist device (LVAD) market is analyzed and market size information is provided by the country, product type, therapy, age group, indication, generation, durability, design, pulse type, end user, and distribution channel as referenced above.
· The countries covered in the left ventricular assist device (LVAD) market report are the China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, Rest of Asia-Pacific.
Competitive Landscape and Left Ventricular Assist Device (LVAD) Market Share Analysis
· Left ventricular assist device (LVAD) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to left ventricular assist device (LVAD) market.
The major companies which are dealing in the left ventricular assist device (LVAD) are
· ABIOMED,
· Abbott, Evaheart, Inc,
· Saft,
· Berlin Heart,
· CorWave SA,
· Jarvik Heart, Inc.
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MAJOR TOC OF THE REPORT
INTRODUCTION
MARKET SEGMENTATION
EXECUTIVE SUMMARY
PREMIUM INSIGHTS
MARKET OVERVIEW
QUESTIONNAIRE
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