Infinium Global Research Ventricular Assist Device Market | Page 3

Ventricular Assist Device Market: Trends and Forecast -2024
failure. Moreover, growing the occurrence of diabetes, genetic factors, lifestyle
factors such as tobacco consumption, junk food, alcohol addiction, substance
abuse, are likely to contribute towards cardiovascular disease population. On the
other hand, high cost associated with devices and its implementation and high risks
involved with a VAD implantation procedure are likely to hamper the growth of the
market. Furthermore, research and development carried on innovation of novel
device is likely to bring more opportunities to the market. For instance, in 2017,
Heartmate III has been approved by the FDA. It is smaller than its predecessor
HeartMate II, and uses a full maglev impeller instead of the cup-and-ball bearing
system found in HeartMate II.
Among the regions, North America is expected to be the largest market for VAD.
Rising occurrence of cardiovascular diseases, developed healthcare infrastructure,
high patient awareness levels and better compensation policies for implantation
procedures is the key factors drives the growth in this region. According to CDC,
about 5.7 million adults in the U.S. have heart failure. The constant improvement in
healthcare infrastructure in emerging countries such as India, is likely to drive the
growth of Asia-Pacific region.
The merger and acquisition and business expansion are the key strategy of the
leading player in this market. For instance, Abbott signs definitive agreement to
acquire St. Jude Medical to create a premier medical device leader with top
positions in high-growth cardiovascular markets, including atrial fibrillation,
structural heart and heart failure, in 2016. Medtronic acquires HeartWare
International to expand heart failure portfolio in 2016.
Segment Covered
The report on global ventricular assist devices market covers segments such as,
product type. On the basis of product type the global ventricular assist devices
market is categorized into right ventricular assist device (rVAD), left ventricular
assist device (lVAD), biventricular assist device (bi-VAD) and total artificial heart
(TAH).
Geographic Coverage
The report provides regional analysis covering geographies such as North America,
Europe, Asia-Pacific, and Rest of the World. In this section the key trends and
market size for each geography is provided over the period of 2016-2024. The
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