Cardiac Assist Devices Market Is Expected To Grow At A CAGR Of Over 9% During The Forecast Period 2020

The cardiac assist devices market is expected to grow at a CAGR of over 9% during the period 2019–2025. The cardiac assist devices market is expected to observe significant growth on account of the growing incidence of congestive heart failures worldwide, especially in the geriatric population. With increased awareness of heart failures among patients and the availability of advanced treatment options, the market is likely to witness growth during the forecast period.

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Key Vendors

• Abbott
• Medtronic
• Abiomed
• Berlin Heart
• Getinge
• SynCardia
• Teleflex

Insights by Vendors

The global cardiac assist devices market is highly consolidated with major players accounting for a significant share of the industry. However, there are considerable growth opportunities for new entrants. Several investigational and small med-tech companies are expected to offer innovative products and technologies. The leading players are focusing on implementing several strategies such as product launches and approvals, acquisitions, and an increase in R&D investment to enhance their market share. Moreover, they focus on expansion in existing and new industries to cater to the needs of growing customer base, widen their product portfolios, and boost their production capabilities to gain traction from end-users. Leading players are likely to dominate the industry on account of their strong presence and surgeons’ endorsement for their products due to the availability of abundant clinical data and efficacy.

The following factors are likely to contribute to the growth of the cardiac assist devices market during the forecast period:

• Growing Global Incidence of Heart Failure
• Shortage of Donor Hearts & Increasing Patient Waiting List for Heart Transplantation
• Increasing demand for Shared Care Centers & their Importance Post-LVAD Implantation
• Technological Advancements
• New Product Approvals and Line Extensions for Existing Commercial Cardiac Assist Devices

Global Cardiac Assist Devices Market: Segmentation

This research report includes detailed segmentation by Application, Products, End-users, and Geography. The application of bridge to transplant (BTT) is enhancing the quality of life and survival chances of patients. The segment is expected to grow steadily due to advances in technology. The entry of advanced and innovative products from first-generation pulsatile flow cardiac assist devices to third-generation continuous flow devices is immensely influencing market growth prospects. However, the segment is likely to witness a decline during the forecast due to the increasing usage of cardiac assist devices as a destination therapy for treating advanced heart failure.

Left ventricular assist devices (LVAD) are predominantly used to bridge to transplant and destination therapy compared to other devices. The usage of LVAD has significantly improved the survival rate among patients undergoing heart transplantation. The application of LVADs in patients requiring cardiac support for longer duration enhances the quality of life and survival chances. These factors are likely to influence patients to prefer LVAD implants, thereby bolstering the demand for LVADs.

Intra-aortic balloon pumps (IABP) are considered to be the first line of treatment, especially in low and middle-income countries, and help treat the patient at critical stages. The segment is expected to grow due to several surgeons recommending IABP for treating advanced heart failures. IABPs provide safer use and earlier intervention to provide hemodynamic support and has minimal complications than other cardiac assist devices.

The hospital segment is expected to dominate the market during the forecast period, as the number of hospitals offering cardiac care is relatively high than in other healthcare settings. Patients prefer undergoing advanced heart failure treatment in hospitals due to their convenient locations and ease of accessibility. Moreover, the aging population and shortage of heart donors are other major factors likely to drive the segment growth.

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Specialty cardiac centers (SSCs) are solely dedicated to treating patients suffering from several CVDs, such as vascular stenosis and heart failure. The segment is expected to grow at the fastest CAGR due to the availability of sophisticated infrastructure related to the diagnosis and high-quality treatment of CVDs in standalone cardiology centers.

Table of Content

1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusion
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of The Study
4.4 Market Segmentation
4.4.1 Product
4.4.2 Application
4.4.3 End-users
4.4.4 Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

The study considers the present scenario of the cardiac assist devices market and its market dynamics for the period 2019−2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent companies operating in the market.

Key Market Insights

The analysis of the cardiac assist devices market provides market sizing and growth opportunities for the period 2019–2025.
• Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
• Includes a detailed analysis of challenges and investment opportunities in the industry.
• Delivers a complete overview of market segments and the regional outlook of the cardiac assist devices market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the market.

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Cardiac Assist Devices Market Is Expected To Grow At A CAGR Of Over 9% During The Forecast Period 2020–2025

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