Cardiac Assist Devices Market Size, Share ,analysis and trends 2026
The Cardiac Assist Devices Market size was worth $ XX billion in 2018 and is forecasted to reach $ XX billion by 2026, at a CAGR of XX% during the forecast period (2019-2026).
(EMAILWIRE.COM, October 16, 2019 ) Market Overview:
Cardiac Assist Devices (CADs) are hemodynamic support devices that improve the pumping efficiency and maintain optimum blood flow throughout the body. They are used to treat end stage heart failure.
Market Dynamics:
The cardiac assist devices market growth is driven by increasing prevalence of heart failures and number of patients with cardiovascular diseases (CVDs) which drives the demand for cardiac assist devices as they helps mechanically pump blood in patients with heart failures or weakened heart.
However, high cost of ventricular assist devices (VADs) for advanced heart failure coupled with expensive follow up care is restraining the growth of the cardiac assist devices market. On an average, the VADs costs around US$ 100,000 and the total procedure costs around US$ 700,000 over a six year period. The high cost of the device and procedures is too expensive for the low and middle income patient population, hence, declining the demand and growth of the market.
Market Segmentation:
By type, the Cardiac Assist Devices Market is segmented into Ventricular Assist Device, Total Artificial Heart, Intra-Aortic Balloon Pump, and Others. Among these, the ventricular assist devices segment accounted for the largest market share of the cardiac assist devices in 2018, owing to the high adoption of the product among patients.
On the basis of application of cardiac assist devices, the market is segmented into bridge-to-transplant (BTT) therapy, destination therapy, and others (such as bridge-to-recovery (BTR) therapy, and bridge-to-candidacy (BTC) therapy). Among these, the destination therapy is estimated to grow at the highest CAGR during the forecast period (2019-2026), owing to high success rate, structural innovations, and higher quality of life with ventricular assist devices for destination therapy.
Geographical Analysis:
Geographically, the Market is divided into North America, Europe, South America, Asia-Pacific, and the Middle East and Africa.
North America is dominating the cardiac assist devices market in 2018 and estimated to hold largest market size over the forecast period (2019-2026), owing to the rising prevalence of heart failure cases. According to the American Heart Association, in 2017, approximately, 790,000 people in U.S. have heart attacks each year. In addition, rising number of people suffering from cardiovascular diseases and growing technological advancements are boosting the demand and adoption rate of cardiac assist devices in this region. In the United States, there are about 4,000 people on the heart transplant listed.
Competitive Analysis:
The Cardiac Assist Devices market is dominated by few major players including Biophan Technologies, Berlin Heart GmbH, Calon Cardio-Technology Ltd., MAQUET GmbH & Co., Teleflex Incorporated, Heart Ware International, Abiomed Inc., Thoratec Corporation, SynCardia Systems, and Bioheart.
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About Us:
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: pr@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Cardiac Assist Devices (CADs) are hemodynamic support devices that improve the pumping efficiency and maintain optimum blood flow throughout the body. They are used to treat end stage heart failure.
Market Dynamics:
The cardiac assist devices market growth is driven by increasing prevalence of heart failures and number of patients with cardiovascular diseases (CVDs) which drives the demand for cardiac assist devices as they helps mechanically pump blood in patients with heart failures or weakened heart.
However, high cost of ventricular assist devices (VADs) for advanced heart failure coupled with expensive follow up care is restraining the growth of the cardiac assist devices market. On an average, the VADs costs around US$ 100,000 and the total procedure costs around US$ 700,000 over a six year period. The high cost of the device and procedures is too expensive for the low and middle income patient population, hence, declining the demand and growth of the market.
Market Segmentation:
By type, the Cardiac Assist Devices Market is segmented into Ventricular Assist Device, Total Artificial Heart, Intra-Aortic Balloon Pump, and Others. Among these, the ventricular assist devices segment accounted for the largest market share of the cardiac assist devices in 2018, owing to the high adoption of the product among patients.
On the basis of application of cardiac assist devices, the market is segmented into bridge-to-transplant (BTT) therapy, destination therapy, and others (such as bridge-to-recovery (BTR) therapy, and bridge-to-candidacy (BTC) therapy). Among these, the destination therapy is estimated to grow at the highest CAGR during the forecast period (2019-2026), owing to high success rate, structural innovations, and higher quality of life with ventricular assist devices for destination therapy.
Geographical Analysis:
Geographically, the Market is divided into North America, Europe, South America, Asia-Pacific, and the Middle East and Africa.
North America is dominating the cardiac assist devices market in 2018 and estimated to hold largest market size over the forecast period (2019-2026), owing to the rising prevalence of heart failure cases. According to the American Heart Association, in 2017, approximately, 790,000 people in U.S. have heart attacks each year. In addition, rising number of people suffering from cardiovascular diseases and growing technological advancements are boosting the demand and adoption rate of cardiac assist devices in this region. In the United States, there are about 4,000 people on the heart transplant listed.
Competitive Analysis:
The Cardiac Assist Devices market is dominated by few major players including Biophan Technologies, Berlin Heart GmbH, Calon Cardio-Technology Ltd., MAQUET GmbH & Co., Teleflex Incorporated, Heart Ware International, Abiomed Inc., Thoratec Corporation, SynCardia Systems, and Bioheart.
View full report: https://www.datamintelligence.com/research-report/cardiac-assist-devices-market
Download free sample: https://www.datamintelligence.com/download-sample/cardiac-assist-devices-market
About Us:
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: pr@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results