The Business Research Company’s report on the Left Ventricular Assist Devices Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the left ventricular assist devices industry?
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 March 2024, according to data published by the Office for Health Improvement and Disparities, a UK-based government, in 2023 there were just over 1,862,500 people (3%) with a GP diagnosis of CHD in England. Furthermore, in December 2022, according to data published by the 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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What is the estimated market size of the left ventricular assist devices sector by 2029, based on current forecasts?
The left ventricular assist devices market size has grown strongly in recent years. It will grow from $1.6 billion in 2024 to $1.74 billion in 2025 at a compound annual growth rate (CAGR) of 8.8%. 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, and 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 $2.52 billion in 2029 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to expanded indications, a 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, and improved anticoagulation management.
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Who are the top players in the left ventricular assist devices market?
Major companies operating in the left ventricular assist devices market include Abbott Laboratories, Medtronic plc., Terumo Corporation, St. Jude Medical, MAQUET GmbH & Co., LivaNova Plc, Thoratec Corporation, Abiomed Inc, Transonic Systems, Berlin Heart GmbH, BioVentrix, Cleveland Heart Inc., Jarvik Heart Inc., CorWave SA, SynCardia Systems LLC, NuPulseCV Inc., Fineheart, Procyrion Inc, Carmat SA, BiVACOR Inc, Cardiac Assist Inc., Leviticus Cardio Ltd., AdjuCor GmbH, Calon Cardio-Technology Ltd, Evaheart Inc., Sunshine Heart Inc., CH Biomedical Inc., Sun Medical Technology Research Corp
What are the major trends in the left ventricular assist devices market?
Major companies operating in the left ventricular assist devices market are developing technologies such as power management units (PMUs) to enhance the devices’ efficiency, reliability, and longevity. A power management unit (PMU) is an integrated circuit that regulates and manages the power supply and distribution to various components in electronic devices. For instance, in June 2022, Renesas Electronics, a Japan-based semiconductor manufacturing company, launched SmartBond DA1470x. The SmartBond DA1470x family represents a significant advancement in BLE technology, providing developers with a versatile platform to create innovative IoT products while optimizing costs and enhancing performance. Its high level of integration simplifies design, improves reliability, and reduces time-to-market for various applications.
Which geography holds the highest left ventricular assist devices market share?
North America was the largest region in the left ventricular assist devices market in 2024. The regions covered in the left ventricular assist devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How do different segments contribute to the overall expansion of the left ventricular assist devices market?
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
Subsegments:
1) By Transcutaneous Left Ventricular Assist Devices: Temporary Transcutaneous Devices, Permanent Transcutaneous Devices
2) By Implantable Left Ventricular Assist Devices: Continuous Flow Devices, Pulsatile Flow Devices
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How is the left ventricular assist devices market defined?
The left ventricular assist device is a mechanical pump implanted in heart failure patients. The device aids in the heart’s lower left chamber (left ventricle), pumping blood to the aorta and the rest of the body.
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