Ventricular Assist Device Market Growth, Size, Analysis, Outlook by Trends, Opportunities and Forecast to 2028

The market is projected to grow from USD 1.23 billion in 2021 to USD 2.24 billion in 2028 at a CAGR of 8.9% during the 2021-2028 period.

The Ventricular Assist Device Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the The Ventricular Assist Device Market by region.

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The technological developments in medical devices have enhanced the efficiency of these devices. Thus, the rate of infection through the devices is reduced simultaneously. Latest devices such as HeartMate III and DuraHeart have features such as lower rotational speeds, smaller size, higher efficiency, and enhanced anatomic design. In October 2019, Medtronic received U.S. Food and Drug Administration (FDA) for its new fully implantable device named as HVAD systems. The LVAD is fully implanted without a cable line extending to a power source outside the body.

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Pre-Post COVID-19 Impact on Global Ventricular Assist Device Market

COVID-19 is an infectious disease caused by the most recently discovered novel corona virus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks.

In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the Ventricular Assist Device Market, since end-user industries were still not operating at their full capacity.

Who are the Major Ventricular Assist Device Market Vendors?

• Abbott Laboratories (U.S.)
• Berlin Heart GmbH (Germany)
• Medtronic (Ireland)
• Cardiac Assist, Inc. (U.S.)
• Jarvik Heart, Inc. (U.S.)
• ReliantHeart (U.S.)
• ABIOMED (U.S.)
• Sun Medical Technology Research Corp (Japan)

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Secondary Research:

This research study made extensive use of secondary sources, directories, and databases such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global market. Other secondary sources included company annual reports, press releases, and investor presentations, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research:

Various sources from both the supply and demand sides were interviewed during the primary research process to obtain qualitative and quantitative information for this report. Primary sources included industry experts from the core and related industries, as well as preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations from all segments of the value chain of this industry. To obtain and verify critical qualitative and quantitative information, in-depth interviews were conducted with a variety of primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants.

Estimation of Market Size

The total size of the Ventricular Assist Device Market was estimated and validated using both top-down and bottom-up approaches. These methods were also widely used to estimate the size of various market sub segments. The following research methodologies were used to estimate market size:

Extensive secondary research was used to identify the industry’s key players.

The revenues generated by the market’s leading players in molecular diagnostics have been determined through primary and secondary research.

All percentage shares, splits, and breakdowns were calculated using secondary sources and confirmed using primary sources.

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