The report titled “Ventricular Assist Devices Market: Global Demand Analysis & Opportunity Outlook 2027″ delivers a detailed overview of the global ventricular assist devices market in terms of market segmentation by product type, by application, by age, by design, and by region.
The global ventricular assist devices market is segmented on the basis of product type, application, age, design, and region. The product type is further segmented into right ventricular assist device (RVAD), left ventricular assist device (LVAD), biventricular assist device (BIVAD), percutaneous ventricular assist device (PVAD) & total artificial heart, out of which, the left ventricular assist device is expected to lead the product type segment on account of enhancement in the number of people suffering from end-stage heart failure.
On the basis of application, the market is sub-segmented into destination therapy, bridge-to-transplant therapy, bridge-to-candidacy therapy & bridge-to-recovery therapy. Based on age, the market is divided into the age group of – below 18, 19-39, 40-59, 60-79 & above 80. The market is segmented by design into implantable ventricular assist devices & transcutaneous ventricular assist devices. The ventricular assist devices industries across the globe are focusing on effectively increasing the life expectancy of patients suffering from cardiovascular diseases which is anticipated to be the major reason behind the growth of the market in upcoming years.
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The global ventricular assist devices market is anticipated to expand at a CAGR of around 11% during the forecast period i.e. 2019-2027. Increasing cases of heart failure coupled with the rising incidence of people suffering from cardiovascular diseases are the major reasons that are anticipated to drive the growth of the market. Additionally, rising technological advancements pertaining to ventricular assist devices and the rise in the geriatric population are some of the factors which are expected to support the growth of the market over the forecast period.
Geographically, the global ventricular assist devices market is segmented into North America, Asia-Pacific, Latin America, Europe, the Middle East, and Africa, out of which, North America is anticipated to have the largest market share on account of the rising incidence of cardiovascular diseases, increasing technological advancements and growing popularity pertaining to ventricular assist devices across the region.
Europe is anticipated to be a lucrative region for the market on account of the rising geriatric population coupled with the increasing prevalence of heart failure around the Europe region. Further, the Asia Pacific region is anticipated to showcase a high market growth in the global ventricular assist devices market on the back of the growing mortality rate due to the increased prevalence of cardiovascular diseases in the region.
Increasing Incidence of Cardiovascular Diseases to Boost Market Growth
The rising incidence of cardiovascular diseases such as stroke and myocardial infarction among others is expected to boost the growth of the market. On the other hand, the growing rate of the geriatric population having a higher susceptibility to cardiovascular diseases is anticipated to boost the market revenue over the forecast period.
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