Cardiac Assist Devices Industry Analysis, Size, Growth, Trends and Forecast to 2026
Recent Study on “Cardiac Assist Devices Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis and Forecast, 2018-2026” Added to Coherent Market Insights Reports Database.
Cardiac Assist Devices are mechanical pumps that assist the heart to enhance its pumping efficiency and help maintain optimal blood flow throughout the body. In cases of congestive heart failure, where oral medications fail to help the patient survive, cardiac assist devices are used. Heart failure is majorly caused due to weakening of heart muscles, which diminishes the heart’s ability to ensure optimal blood supply throughout the body. In such cases, the heart can be donated to the suffering patient, however, the number of donors for heart transplantation is reducing, due to rapid improvement in healthcare, which increases the life span of several patients. This in turn, is increasing the demand for cardiac assist devices, further creating a lucrative environment for growth of the cardiac assist devices market. Furthermore, rapid advancements in technology coupled with increasing number of cardiac surgeries among heart patients are factors contributing to growth of the cardiac assist devices market.
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The market for cardiac assist devices is majorly driven by the growing geriatric population, increasing prevalence of heart failure, high adoption of cardiac assist devices. These devices are also used as a BTT or Bridge-To-Transplantation, BTR or Bridge-To-Recovery, and/or DT or Destination Therapy depending upon the severity of the disease and necessity of the patient. Advancements in technology such as minimally invasive procedures and enhanced efficiency are expected to fuel growth of this market in the near future. However, alternative treatments such as implanting artificial pacemaker pose as threats to growth of the cardiac assist devices market.
The ‘Cardiac Assist Devices Market Research Report 2018-2026’ is an efficient and detailed study on the present situation by focusing on the global market. Study report offers key statistical information on the market situation of the manufacturers and is a beneficial source of advice and guidance for companies and persons involved in the industry. At the start, the study report offers a basic outlook of the industry containing its introduction, applications, and manufacturing technology. Also, the report scrutinizes the international key market players in-depth.
One of the latest trends gaining significant traction in the market is the increase in R&D activities and the launch of novel Cardiac Assist Devices by the market vendors. Due to the highly competitive nature of the market and the presence of various players, companies are increasingly focusing on advanced technologies to manufacture innovative Cardiac Assist Devices.
According to Centers for Disease Control and Prevention (CDC), around 5.7 million individuals in the U.S. suffered from heart failure in 2016. The report suggests that the number of occurrences is likely to increase, with the increase in number of aging of the population in this region. According to the American Heart Association, around 2,200 people in the U.S. die from cardiovascular disease every day, an average of 1 death per 40 seconds. This staggering number of patients suffering from heart diseases will result in growth in demand for cardiac assist devices.
Major manufacturers operating in the market primarily focus on developing innovative and efficient cardiac assist devices through a robust research and development program. Some of the companies operating in the cardiac assist devices market in the current scenario are MAQUET GmbH & Co., Berlin Heart GmbH, Teleflex Incorporated, Thoratec Corporation, Heart Ware International, SynCardia Systems, Inc., and ABIOMED.
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This study report analyzes this market on the basis of its market segments, major geographies, and current market trends. This report provides comprehensive analysis of:
• Market growth drivers
• Factors limiting market growth
• Current market trends
• Market structure
• Market projections for upcoming years
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