New York, NY -- (SBWIRE) -- 02/05/2021 -- Changing lifestyle, rise in geriatric population, and technological advancements in the healthcare sector are some of the factors boosting Left ventricular assist device (LVAD) Market. 

Market Size – USD 1.06 Billion in 2018, Market Growth - CAGR of 11.3%, Market Trends –Technological advancements in the healthcare sector.

Left Ventricular Assist Device (LVAD) is a sort of mechanical pump that is mainly used to enhance the operation and functioning of the heart that is not capable of performing its function independently. In the last decade, the market for left ventricular assistance devices (LVAD) has undergone rapid expansion. In recent years, the rate of incidence of cardiovascular disorders such as heart failure, coronary heart disease, and hypertension has been gradually rising.

The report is furnished with the latest market scenario pertaining to the COVID-19 pandemic and its after-effects on the Left Ventricular Assist Device (LVAD) industry and the key segments. The pandemic has disrupted the workflow of the industry and created financial difficulties. The report assesses the complete impact of the pandemic on the market and offers key insights into the market scenario along with trends and demands disruptions. The report also offers an outlook on the market scenario in the forecast timeline.

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Key participants- Sunshine Heart, CorWave, Apaxis Inc., Sun Medical Technology Research, Evaheart, Abiomed, HeartWare International, Jarvik Heart, HeartWare International, Reliantheart, Transonic, Thoratec, Terumo.

Market Drivers

The Global Left Ventricular Assist Device (LVAD) Market is expected to hit USD 2.32 billion by 2026. Various factors are driving the growth of the Left Ventricular Assist System industry. Lifestyle improvement has been one of the main elements that have fueled the development of this field. That's because of lifestyle changes; people are prone to habits like smoke and alcohol intake. Because of the correlation of these habits, individuals have become more vulnerable to cardiovascular disease, which has resulted in increased demand for LVAD.

The Global Left Ventricular Assist Device (LVAD) Market is segmented as follows:

Type Outlook (Revenue, USD Billion; 2016-2026)
- Transcutaneous LVAD
- Implantable LVAD

Age group Type Outlook (Revenue, USD Billion; 2016-2026)
- 20-39 years
- 40-59 years
- 60-79 years

Pump type Outlook (Revenue, USD Billion; 2016-2026)
- Pulsatile volume-displacement pumps
- First-Generation Devices
- Axial flow pumps
- Second-Generation Devices
- Continuous flow centrifugal pumps
- Third-Generation Devices

Application Type Outlook (Revenue, USD Billion; 2016-2026)
- Bridge-to-Recovery (BTR) Therapy
- Bridge-to-Transplant (BTT) Therapy
- Destination Therapy
- Bridge-to-Candidacy (BTC) Therapy

End-user Outlook (Revenue, USD Billion; 2016-2026)
- Cardiology Centers
- Hospitals

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Regional Outlook

As far as the region is concerned, North America can be seen to dominate the market. North America has the largest market share with the highest revenue of USD 35 billion in 2018, growing at a CAGR of 11.7% in the coming years. Factors such as the high incidence rate of cardiovascular diseases, the availability of advanced technologies, and the geriatric population's growth have added to the market share of the region.

Market Segmentation by Regions:

- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Coverage of the Left Ventricular Assist Device (LVAD) Market:

- Insightful information regarding the global Left Ventricular Assist Device (LVAD) market
- Identification of growth in various segments and sub-segments of the Left Ventricular Assist Device (LVAD) market
- Strategic recommendations for investment opportunities
- The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
- Emerging trends and current market segment analysis to help investors formulate new business strategies
- Accelerates the decision-making process through the availability of the drivers and limitations

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Global Left Ventricular Assist Device (LVAD) Market: Table of Contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Left Ventricular Assist Device (LVAD) Market Segmentation & Impact Analysis

Continued……….

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