About Left Ventricular Assist Device
A left ventricular assist device is a pump that used for patients who have reached end-stage heart failure. It also known as a mechanical circulatory support device. It is an implantable mechanical pump that helps pump blood from the lower chambers of heart to the rest of body. It is implanted inside a person’s chest to help a weakened heart pump blood. It doesn’t replace the heart but it just helps it do its job.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Left Ventricular Assist Device market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Abiomed, Inc. (United States), Asahi Kasei Corporation (Japan), Abbott Laboratories (United States), Berlin Heart GmbH (Germany), Calon Cardio-Technology Ltd. (United Kingdom), CardiacAssist Technologies (United States), Jarvik Heart, Inc. (United States), Medtronic plc. (Ireland), ReliantHeart, Inc. (United States) and Terumo Medical Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Thoratec Corporation (United States) and Evaheart, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Left Ventricular Assist Device market by Type (Transcutaneous Ventricular Assist Device and Implantable Ventricular Assist Device), Application (Bridge-to-Transplant Therapy, Destination Therapy, Bridge-to-Recovery Therapy and Bridge-to-Candidacy Therapy) and Region.
On the basis of geography, the market of Left Ventricular Assist Device has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Flow, the sub-segment i.e. Pulsatile Flow will boost the Left Ventricular Assist Device market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Continuous Adoption in Ventricular Assist Device
Market Growth Drivers:
High Cardiovascular Disease Prevalence Leading To High Heart Failure Rates and Rise in the Awareness among the People
Challenges:
High Cost of Ventricular Assist Device Implantation
Restraints:
Risk of Internal Bleeding and Infections
Opportunities:
Increasing Number of New Product Approval and Growing Geriatric Population
In June 2023, In the first step towards securing FDA approval, Israel-based device maker Magenta Medical is commencing an early feasibility study with its Elevate percutaneous Left Ventricular Assist Device (pLVAD) for high-risk percutaneous coronary intervention (HR-PCI). Being the world’s smallest heart pump, it provides temporary mechanical circulatory support during HR-PCI procedures.
Key Target Audience
Left Ventricular Assist Device Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.