Valley Cottage, NY -- (SBWIRE) -- 09/07/2018 -- Global Cardiac Assist Devices Market: Snapshot
A cardiac assist device is an electromechanical device for assisting cardiac circulation, which is used either partially or to completely replace the function of a failing heart. A new research report by Future Market Insights highlights the changing scenario of the global cardiac assist devices market given the increase in cases of cardiovascular diseases across the world. The report is titled 'Cardiac Assist Devices Market: Global Industry Analysis 2012–2016 and Opportunity Assessment 2017–2027,' and depicts the market forecast during the study period 2017-2027. This comprehensive research report indicates that the global burden of cardiovascular diseases is expected to be around 29% of the total deaths. This has increased the need for better cardiac assist devices in the market.
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The global cardiac assist devices market is expected to reach a market value of over US$ 2,200 Mn by the end of 2027, growing at a CAGR of 5.7% during the forecast period. The rise in demand for cardiac assist devices is also a result of limited heart donors available across the world. The global cardiac assist devices market is also said to be highly competitive due to the presence of well-established top players in the global market. Companies are now focussing on new product launches and developing smart cardiac assist devices in order to gain maximum market share.
Global Cardiac Assist Devices Market: Segmental Analysis
Based on region, North America holds the largest market share with an expected market size of over US$ 1,100 Mn by the end of 2027. Western Europe is the second largest region in the global cardiac assist devices market in terms of value.
On the basis of product type, the ventricular assist device segment is predicted to stay ahead with the maximum market share and fastest growth. This segment is expected to reach a market value of over US$ 1,600 Mn by the end of 2027, growing at a CAGR of 6.1% during the forecast period.
In terms of modality, the implantable application segment is expected to lead with the highest market share and fastest growth, leaving the transcutaneous segment lagging behind in terms of market size.
Based on end user, hospitals are expected to hold the highest market share with an estimated valuation of over US$ 1,700 Mn by the end of 2027. However, ambulatory surgical centres are expected to witness the fastest growth at the rate of 6.7% during the forecast period.
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Global Cardiac Assist Devices Market: Competitive Landscape
This research report consists of detailed information of all the major players in the industry along with a brief profile depicting their current and future strategies. Some of these key players mentioned in the report are Thoratec Corporation, MAQUET GmbH & Co., Teleflex Incorporated, Heart Ware International, Berlin Heart GmbH, ABIOMED, SynCardia Systems, Inc., Abbott Laboratories, Medtronic Plc., Terumo Corporation etc.