Ventricular Assist Devices Market Report 2021: Latest Trends, Top Manufacturers, Product Type, End User, Impact Due to COVID-19 and Forecast 2027

 A comprehensive overview of the Ventricular Assist Devices Market is recently added by UnivDatos Market Insights to its humongous database. The ventricular assist devices market report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the ventricular assist devices market. The ventricular assist devices market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the ventricular assist devices market at the global and regional levels. The Global Ventricular Assist Devices Market is expected to grow significantly by 2027.

Market Overview

Calon Cardio-Technology Ltd. a UK-based company aspires to get the CE Mark for its “MiniVAD” by early 2024, by this time its US FDA early feasibility study is also expected to be completed. The company pursues to raise funds of almost US$ 47 million to US$ 60 million to support its R&D for the MiniVAD in the US and Europe from 2020 to 2023. Moreover, the need for ventricular assist devices is mainly rising due to the lack of heart donors which is increasing the number of patients waiting for heart transplantation. According to the organ donation data by the U.S. Department of Health & Human Services, almost 107,000 men, women, and children are on the national transplant waiting list for a lifesaving organ transplant by February 2021. Also, 17 people die each day waiting for an organ transplant.

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Furthermore, the Total Artificial Heart manufacturing industries are showing advanced device innovations and are expected to observe a rise in the number of launches and approvals. For instance, in December 2020, CARMAT an artificial heart manufacturing company received the CE Mark. The Total Artificial Heart created by CARMAT is self-regulated and changes the blood flow centered on the patient’s physical activity.

COVID-19 Impact

The COVID-19 pandemic has impacted all industries including medical devices. Most of the market players in their cardiac rhythm management devices segments have experienced huge losses due to the postponement of cardiovascular procedures. For instance, Medtronic has experienced a 12% decrease in its cardiac rhythm management devices segment in 2020, as compared to 2019. The decline was majorly experienced in ICDs, CRT-Ds, and ventricular assist devices segments, among others. Such factors have negatively affected the growth of the ventricular assist device market during the COVID-19 pandemic.

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Global Ventricular Assist Devices Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Product, the market is primarily bifurcated into

·       Left ventricular assist devices (LVADs)

·       Right ventricular assist devices (RVADs)

·       Biventricular assist devices (BIVADs)

·       Percutaneous Ventricular Assist Devices (PVADs)

·       Total Artificial Heart (TAH)

The Left ventricular assist devices (LVADs) segment generated the highest revenue in 2020 and the market is expected to grow at a significant rate during the forecast period. It is implanted in patients with heart failure and helps the bottom left chamber of the heart (left ventricle) pump blood out of the ventricle to the aorta and the rest of the body.

By Application, the market is primarily bifurcated into

·       Destination therapy

·       Bridge-to-candidacy (BTC) therapy

·       Bridge-to-transplant (BTT) therapy

·       Bridge-to-recovery (BTR) therapy

·       Others

The Destination therapy segment accounted for the major revenue portion in 2020 and the sector is anticipated to observe lucrative growth in the upcoming years.

By Flow, the market is primarily bifurcated into

·       Pulsatile Flow

·       Continuous Flow

o   Axial Continuous Flow

o   Centrifugal Continuous Flow

The Continuous Flow segment accounted for the major revenue portion in 2020. The sector is anticipated to observe considerable growth in the upcoming years, owing to its smaller size, longer durability, higher energy efficiency, less thrombogenicity, and less surgical trauma.

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By Design, the market is primarily bifurcated into

·       Transcutaneous

·       Implantable

The Implantable segment accounted for the major revenue portion in 2020 and the sector is anticipated to observe substantial growth during the forecast period.

By End-user, the market is primarily bifurcated into

·       Hospitals & Cardiac Centers

·       Ambulatory Surgical Centers

·       Others

The Hospitals & Cardiac Center segment is anticipated to observe lucrative growth in 2020. As they provide superior care to their patients and offer compensations during surgeries.

Artificial Intelligence in Drug DiscoveryMarket Geographical Segmentation Includes:

·       North America (US, Canada, and Rest of North America)

·       Europe (Germany, UK, Italy, France, Spain, and Rest of Europe)

·       Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)

·       Rest of the World

Based on the estimation, North America constitutes a major market for the ventricular assist devices industry and generated maximum revenue in 2020 owing to the presence of major companies and healthcare infrastructure with the highest rate of cardiovascular diseases across the world.

The major players targeting the market includes

·       Medtronic PLC

·       Abbott Laboratories

·       Berlin Heart GmbH

·       Reliant Heart Inc.

·       Abiomed Inc.

·       Terumo Corporation

·       Angiodroid 

·       SynCardia Systems

·       CardiacAssist, Inc.

·       Getinge

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the ventricular assist devices market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

•         What are the latest trends, new patterns, and technological advancements in the ventricular assist devices market?

•         Which factors are influencing the ventricular assist devices market over the forecast period?

•         What are the global challenges, threats, and risks in the ventricular assist devices market?

•         Which factors are propelling and restraining the ventricular assist devices market?

•         What are the demanding global regions of the ventricular assist devices market?

•         What will be the global market size in the upcoming years?

•         What are the crucial market acquisition strategies and policies applied by global companies?

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