Ventricular Assist Devices Market is Estimated to Witness High Growth Owing to Rising Prevalence of Cardiovascular Diseases

 Ventricular assist devices (VADs) are mechanical circulatory devices that are implanted in patients with weakened hearts that cannot pump enough blood to the rest of the body. They assist the heart in pumping blood and act as a bridge to transplant for patients awaiting a donor heart or a destination therapy for patients ineligible for a heart transplant. The growing cases of heart failure coupled with technological advancements in cardiac assist devices is driving the adoption of ventricular assist devices. According to the American Heart Association, around 6.2 million adults in the U.S. suffer from heart failure and this number is expected to increase 46% by 2030.

The Global Ventricular Assist Devices Market is estimated to be valued at US$ 3.6 billion in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Ventricular Assist Devices market are Medtronic, Abbott Laboratories, Abiomed, Berlin Heart, CardiacAssist, LivaNova, Jarvik Heart etc.

The rising prevalence of cardiovascular diseases has generated a strong demand for Ventricular Assist Devices Market Trends as a bridge-to-transplant and destination therapy. The technological advancements introducing portable VADs and miniaturized VADs is proving beneficial in expanding adoption.

The North America ventricular assist devices market accounted for the largest revenue share in 2024. However, Asia Pacific region is anticipated witness highest growth over the forecast period due to increasing healthcare expenditure, growing awareness and improving access to cardiac care.

Market Drivers

The growing geriatric population and rising incidence of cardiometabolic disorders are key factors expected to drive the ventricular assist devices market. Ventricular assist devices offer an improved quality of life and increased survival rate in late-stage heart failure patients who are not eligible for heart transplant surgeries. Additionally, favorable reimbursement for VADs procedures, ongoing research for development of innovative technologies are further propelling the market growth during forecast period.

PEST Analysis

Political: Regulations around the usage and manufacturing of medical devices are becoming more stringent globally, requiring extensive compliance.

Economic: Fluctuations in global healthcare spending can impact investment levels in new medical technologies. However, rising healthcare costs in developed nations raise demand for technologies that reduce costs.

Social: An aging population fuels the demand for technologies addressing cardiac issues. Growing awareness about available treatments positively impacts the market.

Technological: Advancements in materials and miniaturization allow for smaller, easier to implant devices. Remote monitoring capabilities offer improved patient management after implantation.

Regions with Highest Market Value

North America accounts for the largest share of the global ventricular assist devices market in terms of value, owing to favorable reimbursement policies and high acceptance of advanced technologies. The United States dominates the regional market.

Fastest Growing Region

Asia Pacific is expected to grow at the fastest pace during the forecast period due to rising healthcare expenditure, growing incidence of target diseases, and increasing adoption of advanced treatment options across major countries like China and India.

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About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)



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