USD 2 Bn by 2024| Ventricular Assist Devices Market set for massive growth

Ventricular assist devices market size is set to exceed USD 2.0 billion by 2024; according to a new research study published by Global Market Insights, Inc.

Ventricular Assist Devices Market size was valued over USD 1.0 billion in 2017 and is expected to witness more than 10.5% CAGR from 2018 to 2024. Driven by a spate of technological advancements in the domain of medical equipment, ventricular assist devices (VADs) market has come up to be one of the most lucrative verticals of the healthcare space. A VAD is essentially a medical device that is used to help with the heart functions & blood flow in patients with failing or weak hearts. Technological developments of late are making VADs less invasive, more risk-free and efficient, fueling a significant increase in their adoption rate, further advancing ventricular assist devices industry growth. These technological enhancements coupled with constantly improving implementation procedures have successfully reduced the associated health risks while also ensuring an increased survival rate in patients.

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The global VADs market is also expected to accumulate significant proceeds on account of the growing obese and geriatric population worldwide, a demographic most likely to experience heart problems & heart diseases. According to the World Health Organisation (WHO), a survey in 2016 discovered that over 1.9 billion adults, above 18 years of age, were overweight with approximately 650 million of them being obese. Meanwhile, a report from the United Nations predicts the global geriatric population to more than double by 2050. These factors are quite overtly, compelling further innovations in the healthcare industry, expediting ventricular assist devices market trends.

U.S. VADs market | Impact of growing cardiovascular diseases on the regional industry growth
The United States ventricular assist devices market is touted to be largely driven by the growing number of cardiovascular disease CVD cases across the nation. According to a 2018 report by the American Heart Association, approximately 92.1 million adults across the U.S. are suffering from some form of CVD or the after-effects of a stroke. Around 2,300 Americans lose their lives to CVDs every day – an average one death every 38 seconds. The U.S. Centers for Disease Control & Prevention (CDC) lists high cholesterol, high blood pressure and smoking as the key risk factors leading to heart diseases, further specifying that approximately 47% of Americans are suffering from at least one of the three listed risk factors.

These conditions coupled with recent technological advancements across the nation as well as favorable reimbursement policies would be some of the major influencing parameters fueling the growth of the U.S. ventricular assist devices market. As a matter of fact, the U.S. ventricular assist devices industry size is projected to register a modest CAGR of 9.8% over 2018-2024.

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Nonetheless, with an ongoing organ donor shortage experienced for cardiac transplantation, the Left VADs are increasingly becoming the go-to substitute for a full-fledged transplant, especially in elderly patients. Attributing to these inducing factors, the left VADs market is projected to record a CAGR of about 10.6% over 2018-2024.

The populous Indian sub-continent is anticipated to crop up as another remunerative revenue pocket for ventricular assist devices market. Quite overtly, the growth across the country is powered by the extensive prevalence of cardiovascular disorders in the region. A report presented in the AHA Journals in 2016 claimed that premature mortality (in terms of years of life lost) on account of CVD in India surged by 59% – from 23.2 million in 1990 to 37 million in 2010. Even the World Health Organization declared that cardiovascular diseases are one of the major factors contributing to the cases of mortality across the region, that would quite overtly push the India VADs market size in the years to come.

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Report Content
Chapter 1. Methodology
1.1. Methodology
1.2. Market definition
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary Paid sources Unpaid sources
1.4.2. Primary
Chapter 2. Executive Summary
2.1. Ventricular assist devices industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application trends
2.1.4. Age group trends
2.1.5. Regional trends
Chapter 3. Ventricular assist devices Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry impact forces
3.3.1. Growth drivers Increase in number of heart failures and cardiovascular diseases in Europe Technological advancements in North America Growing geriatric population in Asia Pacific Rise in awareness regarding heart failure treatment in Latin America Decrease in number of heart donors across the globe
3.3.2. Industry pitfalls & challenges High cost of the device and procedure High health risk associated with product and procedures Stringent regulatory regulations
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By application
3.4.3. By age group
3.5. Regulatory landscape
3.5.1. U.S.
3.5.2. Europe
3.6. Technology landscape
3.7. Left ventricular assist devices properties
3.8. Global prevalence of cardiovascular diseases, 2017
3.9. Global heart transplantation scenario
3.10. Porter’s analysis
3.11. Competitive landscape, 2017
3.11.1. Business overview
3.11.2. Revenue analysis
3.11.3. Product landscape
3.11.4. Strategy dashboard
3.12. PESTEL analysis

It is quite evident from the aforementioned trends that the global VADs market is well positioned to accumulate sizable gains over 2018-2024. Powered by the escalating prevalence of CVDs worldwide and the robust technological advancements in healthcare, the overall VADs industry size is liable to be pegged at USD 2 billion by 2024.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Release ID: 88912938