NEW YORK, Nov. 29, 2021 /PRNewswire/ -- Technavio's latest offering, the Ventricular Assist Devices Market report provides a detailed analysis of the competitive scenario and the market growth across various regions. The ventricular assist devices market value is set to grow by USD 4.05 billion from 2020 to 2025, progressing at a CAGR of 21.46%.
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38% of the market's growth will originate from North America. US and Canada are the key markets for ventricular assist devices in the region. The awareness initiatives by organizations will facilitate the ventricular assist devices market growth in North America. The report offers an up-to-date analysis of the geographical composition of the market, competitive intelligence, and regional opportunities in store for vendors.
The market is driven by factors such as the increasing prevalence of heart failure, and the scarcity of donor's hearts for transplantation. However, the high costs associated with ventricular assist devices are hindering market growth. The ventricular assist devices market analysis report also provides detailed information on other upcoming trends that will have a far-reaching effect on the market growth.
The ventricular assist devices market is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market. The ventricular assist devices market report includes information on the product launches, sustainability, and prospects of leading vendors including Abbott Laboratories, Abiomed Inc., Asahi Kasei Corp., Berlin Heart GmbH, Calon Cardio-Technology Ltd, CorWave SA, Jarvik Heart Inc., LivaNova Plc, Medtronic Plc, and Mohawk Innovative Technology Inc.
Few Companies with the Key Offerings
Abiomed Inc. - The company is involved in offering a wide range of products such as the OXY-1 System that is a compact cardiopulmonary support system with an integrated oxygen concentrator.
Asahi Kasei Corp. - The company is involved in offering a wide range of products such as Defibrillators, AEDs, and many more.
Berlin Heart GmbH -The company is involved in offering innovative systems for mechanical circulatory support.
The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
By Product, the market is classified into left and right ventricular assist devices and bi-ventricular assist devices. The ventricular assist devices market share growth by the left and right ventricular assist devices segment has been significant
By Geography, the market is classified as North America, Europe, Asia, and ROW. North America will have the largest share of the market.
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Ventricular Assist Devices Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 21.46%
Market growth 2021-2025
USD 4.05 billion
YoY growth (%)
North America, Europe, Asia, and ROW
Performing market contribution
North America at 38%
Key consumer countries
US, Germany, China, Canada, UK, and India
Leading companies, competitive strategies, consumer engagement scope
Abbott Laboratories, Abiomed Inc., Asahi Kasei Corp., Berlin Heart GmbH, Calon Cardio-Technology Ltd, CorWave SA, Jarvik Heart Inc., LivaNova Plc, Medtronic Plc, and Mohawk Innovative Technology Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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