Left Ventricular Assist Devices Market Growth Trajectory Through 2024-2033

The Left Ventricular Assist Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Left Ventricular Assist Devices Global Market Report 2024, The left ventricular assist devices market size has grown strongly in recent years. It will grow from $1.5 billion in 2023 to $1.64 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%.  The  growth in the historic period can be attributed to post-market surveillance and data, reduction in device size and noise, awareness and education programs, increased physician experience, adoption in bridge therapy..

The left ventricular assist devices market size is expected to see strong growth in the next few years. It will grow to $2.3 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.  The growth in the forecast period can be attributed to expanded indications, rise in heart failure cases, enhanced patient outcomes, market approval and regulatory changes, focus on destination therapy.. Major trends in the forecast period include advancements in implantation techniques, development of dual-pump systems, growing use as a destination therapy, focus on minimizing infection risks, integration with heart failure management programs, improved anticoagulation management..

The rising prevalence of cardiovascular diseases is expected to propel the growth of the left ventricular assist device market going forward. Cardiovascular diseases refer to a group of disorders of the heart and blood vessels. It includes coronary heart disease, congenital heart disease, and others. In the case of advanced heart failure, a left ventricular assist device assists the heart’s left ventricle, which pumps blood to the body’s tissues. For instance, in October 2022, according to the World Heart Federation (WHF), a  Switzerland-based non-governmental organization, the number of cardiovascular diseases (CVD) deaths is projected to rise from an estimated 18,9 million in 2020 to over 22,2 million in 2030. Furthermore, in December 2022, according to data published by New York government, in the United States, heart disease claims the lives of about 697,000 people annually, or 1 in every 5 fatalities where around 805,000 Americans experience a heart attack each year among which 605,000 of these result in a first-time heart attack, while 200,000 are caused by previous heart attacks. Therefore, the rising prevalence of cardiovascular diseases is driving the growth of the left ventricular assist device market.

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The left ventricular assist devices market covered in this report is segmented –

1) By Type: Transcutaneous Left Ventricular Assist Devices, Implantable Left Ventricular Assist Devices

2) By Type of Flow: Pulsatile, Non-Pulsatile

3) By Application: Bridge-to-Recovery (BTR) Therapy, Bridge-to-Transplant (BTT) Therapy, Destination Therapy, Bridge-to-Candidacy (BTC) Therapy

4) By End-user: Cardiology Centers, Hospitals

Technological advancements are a key trend gaining popularity in the left ventricular assist device market. Major companies operating in the left ventricular assist devices market are adopting new technologies to sustain their position in the market. For instance, in January 2021, CorWave SA, a France-based medical device company developing innovative heart pumps, developed left ventricular assist device (LVAD) membrane pump technology. This membrane based LVAD employs a pulse pump (electromagnetic pulses) rather than a rotary pump to flow blood, closely mimicking the action of a heartbeat. It produces a pulsatile pumping activity far more like the natural heart.

The left ventricular assist devices market report table of contents includes:

 

1. Executive Summary
2. Left Ventricular Assist Devices Market Characteristics
3. Left Ventricular Assist Devices Market Trends And Strategies
4. Left Ventricular Assist Devices Market – Macro Economic Scenario
5. Global Left Ventricular Assist Devices Market Size and Growth

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32. Global Left Ventricular Assist Devices Market Competitive Benchmarking
33. Global Left Ventricular Assist Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Left Ventricular Assist Devices Market
35. Left Ventricular Assist Devices Market Future Outlook and Potential Analysis
36. Appendix

Top Major Players:

• Abbott Laboratories
• Medtronic plc
• Jude Medical
• MAQUET GmbH & Co
• Saft, LivaNova PLC

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