Cardiac assist devices market size and growth: The cardiac assist devices market is estimated to achieve a market valuation of over USD 2728.7 Million by the end of 2024, growing at a CAGR of 8.451% during the forecast period.
Cardiac assist devices Market Overview:
A cardiac assist device supports the heart in case of respiratory failure. Such devices may replace the heart partially or entirely. There are various kinds of cardiac assist devices present in the market like Ventricular Assist Device and Intra-aortic Balloon Pump.
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Cardiac assist devices Market drivers and restraints:
Increase in prevalence of cardiovascular diseases, rise in novel treatments, affordability of medical devices, high adoption and acceptance of cardiac assist devices in growing markets, and innovation and development in medical devices drive the cardiac assist devices market. High competition among existing players, complications and severity concerned with the treatment, and lack of knowledge among the rural population in developing and underdeveloped nations are likely to restrain the cardiac assist devices market.
Report segmented as:
By Type:
• Ventricular assist devices
• Intra-aortic balloon pumps (IABPs)
• Total artificial heart
By Modality:
• Transcutaneous
• Implantable
By Application:
• Bridge-to-transplant (BTT) therapy
• Destination therapy
• Bridge-to-recovery (BTR) therapy
• Bridge-to-candidacy (BTC) therapy
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Geographical analysis:
Based on the geography, the world cardiac assist devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2017, North America led the global cardiac assist devices market because of the high prevalence of cardiovascular diseases and the presence of major players in the region. The Asia Pacific and Latin America are rising markets and are estimated to expand at a substantial speed throughout the forecast period because of the increase in the incidence of heart failure, growth of the health care business, and rise in government investment to develop health care infrastructure in these nations.
Important market players:
Key players operating in the cardiac assist devices market include Abiomed, Berlin Heart, CardiacAssist, Inc., Cardiobridge GmbH, Carmat, HeartWare, Jarvik Heart, Inc., XENIOS AG, MiTiHeart Corporation, and SynCardia Systems, LLC.
The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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