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Cardiac assist devices are used to treat end stage heart failure. These devices are act as mechanical pumps that work along with the heart to improve its pumping efficiency and maintain the optimum blood flow throughout the body. Cardiac assist devices may replace the heart partially or completely. These devices also support the heart in case of respiratory failure.
There are different cardiac assist device available for patient. The choice of cardiac assist device is determined by the needs of the individual. Some devices are implanted in the body, while some operate outside the body. The different available devices are intra-aortic balloon pumps, total artificial heart, ventricular assist devices, and circulatory support devices. Ventricular assist devices are widely used and are expected to dominate the global market. These devices are used in patients suffering from end stage heart failure, where treatment through medicines is not possible.
Cardiac assist devices are very costly. Such high cost is hammering this market in the developing and underdeveloped countries due to low per capita income and insufficient medical infrastructure. Alternative treatments like pacemakers heart transplantation and some common risks related with cardiac assist devices include infections, pump thrombus, development of blood clots, hemorrhage, arrhythmias, and even device failure are acting as barrier for the growth of this market. Other surgical factors like kidney failure, bleeding, Infection and occurrence of stroke may hinder the growth of the global cardiac assist devices market.
North America is the largest cardiac assist device market followed by Europe and Asia-Pacific due to high rate of diagnosed patients suffering from cardiac diseases. Asia Pacific is anticipated to witness an exponential during the forecast period because of development in medical infrastructure, rise in per capita income, growing health awareness and government initiatives for treatment of cardiac diseases. Increase in occurrence of cardiovascular diseases with ageing population and technological advancements is driving growth of this market. Also investment in R&D to make cardiac assist devices more efficient and cost effective is boosting cardiac assist device market.
Cardiac Assist Devices Market : Product Type
Cardiac Assist Devices Market: Application
Cardiac Assist Devices Market : Competitive Analysis
Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study consists of following key players in Global Cardiac Assist Devices Market:
Geographical analysis of Cardiac Assist Devices Market:
Global Cardiac Assist Devices Market Report delivers a comprehensive analysis of the following parameters:
Parameters | Details |
---|---|
Base Year |
2024 |
Historical Data |
2018-2023 |
Forecast Data |
2024-2030 |
Base Year Value (2024) |
USD 4096.4 million |
Forecast Value (2031) |
USD 6930 million |
CAGR (2025-2030) |
7.8 % |
Regional Scope |
North America, Europe, Asian Pacific, Latin America, Middle East and Africa, and ROW |
Cardiac Assist Devices Market was valued at around USD 4096.4 million in 2023 & estimated to reach USD 6930 million by 2030.
Cardiac Assist Devices Market is likely to grow at Compound Annual Growth Rate (CAGR) of 7.8% between 2024 to 2030.
Cardiac Assist Devices Market is dominated by the Hospitals segment and the North America region holds the highest market share in 2023.
Some of the top key players in the Cardiac Assist Devices Market are Biophan Technologies, Inc., Calon Cardio-Technology Ltd, Thoratec Corporation, MAQUET GmbH & Co., Teleflex Incorporated, Heart Ware International, Berlin Heart GmbH, Abiomed Inc., SynCardia Systems, Bioheart, Inc., Cardiac Assist, Inc., MyoCardioCare, Inc, Cleveland Heart, Inc.
Primary driving factors for the growth of the Cardiac Assist Devices Market include Increase in occurrence of cardiovascular diseases with ageing population and technological advancements.
Yes, the report includes COVID 19 impact on the market.
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