Aug 18, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Left Ventricular Assist Device Treatment Market.
It was estimated prior to this unanticipated outbreak that the Left Ventricular Assist Device Treatment Market was expected to grow at a CAGR of 11.1% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
The preference for ventricular assist devices is increasing over heart transplants due to the long waiting time for a donor’s heart which results in the death of the patient. The growth of the global left ventricular assist device treatment market is primarily driven by the increasing prevalence of cardiovascular diseases particularly stroke and heart failure due to changing lifestyles and unhealthy eating habits. The growing emphasis on technological advancements to develop miniature devices equipped with advanced features is likely to create lucrative growth opportunities for the players operating in the global left ventricular assist device treatment market during the review period.
Based on product type, the market has been segmented into destination therapy, bridge to transplantation, bridge to recovery, and bridge to destination. The destination therapy segment accounted for the largest market share in 2020 owing to the rise in the number of the patient having heart-related disease and end-stage heart failure. The bridge to the transplantation segment is expected to grow at a substantial CAGR during the review period.
Geographically, the market in North America accounted for the largest market share in 2020 and is projected to continue its dominance during the review period. The market growth can be attributed to the high demand for miniature devices equipped with advanced technology and the increasing prevalence of cardiovascular diseases.
Key players operating in the global Left Ventricular Assist Device Treatment Market are-
Abbott Laboratories (The U.S),
Thoratec Corporation (The U.S.),
Apaxis Medical, Inc. (Canada)
Abiomed (The U.S),
HeartWare International Inc. (The U.S),
Berlin Heart GmbH (Germany),
Evaheart Inc (Japan),
Jarvik Heart, Inc. (The U.S), and
ReliantHeart, Inc. (The U.S).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Left Ventricular Assist Device Treatment analysis report discusses the following heads in great detail:
Market structure: Overview, industry life cycle analysis, supply chain analysis
COVID-19 Impact Assessment
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Strategic growth opportunities for the existing and new players
Key success factors