Press release
Evolving Market Trends In The Left Ventricular Assist Devices Industry: Advancements in Power Management for Left Ventricular Assist Devices
Left Ventricular Assist Devices
What Is the Expected Left Ventricular Assist Devices Market Size During the Forecast Period?
In recent times, the market size for left ventricular assist devices has experienced considerable growth. The projections reveal an increase from $1.6 billion in 2024 to $1.74 billion in 2025, equating to a compound annual growth rate (CAGR) of 8.8%. Factors such as post-market surveillance and data collection, decreased device size and noise, awareness and education initiatives, heightened physician experience and acceptance in bridge therapy have contributed to the remarkable growth during the historic period.
Forecasted to experience significant expansion in the coming years, the market size for left ventricular assist devices is expected to reach $2.52 billion by 2029, with a compound annual growth rate (CAGR) of 9.6%. Factors propelling this growth include expanded usage parameters, increasing heart failure cases, improved patient results, market approval, and regulatory reforms, all with a focus on destination therapy. Several notable trends during this forecasted period involve advances in implantation techniques, the establishment of dual-pump systems, a growing reliance on destination therapy, an emphasis on lowering infection risks, integration into heart failure management strategies, and refined anticoagulation management protocols.
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What Are the High-Growth Segments in the Left Ventricular Assist Devices Market?
The left ventricular assist devices market covered in this report is segmented -
1) By Type: Transcutaneous Left Ventricular Assist Devices, Implantable Left Ventricular Assist Devices
2) By Type Of Flow: Pulsatile, Non-Pulsatile
3) By Application: Bridge-To-Recovery (BTR) Therapy, Bridge-To-Transplant (BTT) Therapy, Destination Therapy, Bridge-To-Candidacy (BTC) Therapy
4) By End-User: Cardiology Centers, Hospitals
Subsegments:
1) By Transcutaneous Left Ventricular Assist Devices: Temporary Transcutaneous Devices, Permanent Transcutaneous Devices
2) By Implantable Left Ventricular Assist Devices: Continuous Flow Devices, Pulsatile Flow Devices
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What Key Drivers Are Expected to Influence Future Left Ventricular Assist Devices Market Growth?
The increasing occurrence of cardiovascular diseases is anticipated to spur the expansion of the left ventricular assist device market in the future. Cardiovascular diseases are a collection of disorders affecting the heart and blood vessels, encompassing conditions like coronary heart disease and congenital heart disease, among others. When dealing with severe heart failure, a left ventricular assist device aids the heart's left ventricle in pumping blood to the body's tissues. For example, data released by the Office for Health Improvement and Disparities, a UK government organization, in March 2024 revealed that in 2023, marginally above 1,862,500 individuals (3%) had a CHD diagnosis from a GP in England. Moreover, as per the data provided by the New York government in December 2022, heart disease is responsible for nearly 697,000 deaths annually or 1 in every 5 deaths in the United States, with approximately 805,000 Americans suffering a heart attack each year. Of these, 605,000 incidents are first-time heart attacks, while 200,000 are attributed to recurrent heart attacks. Thus, the escalating prevalence of cardiovascular diseases is fuelling the growth of the left ventricular assist device market.
Which Companies Hold the Largest Share Across Different Left Ventricular Assist Devices Market Segments?
Major companies operating in the left ventricular assist devices market include Abbott Laboratories, Medtronic plc., Terumo Corporation, St. Jude Medical, MAQUET GmbH & Co., LivaNova Plc, Thoratec Corporation, Abiomed Inc, Transonic Systems, Berlin Heart GmbH, BioVentrix, Cleveland Heart Inc., Jarvik Heart Inc., CorWave SA, SynCardia Systems LLC, NuPulseCV Inc., Fineheart, Procyrion Inc, Carmat SA, BiVACOR Inc, Cardiac Assist Inc., Leviticus Cardio Ltd., AdjuCor GmbH, Calon Cardio-Technology Ltd, Evaheart Inc., Sunshine Heart Inc., CH Biomedical Inc., Sun Medical Technology Research Corp
What Trends Are Driving Growth in The Left Ventricular Assist Devices Market?
Leading corporations in the left ventricular assist devices sector are innovating technologies such as power management units (PMUs) to improve the efficiency, dependability, and lifespan of the devices. A PMU is a type of integrated circuit responsible for regulating and distributing power to different parts of electronic equipment. As an example, Renesas Electronics, a semiconductor manufacturer based in Japan, released SmartBond DA1470x in June 2022. The SmartBond DA1470x series is a considerable leap forward in BLE technology, providing developers with a flexible platform that helps design innovative IoT products while reducing costs and boosting performance. This also simplifies the design process, enhances reliability, and accelerates the time it takes to reach the market in various applications.
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What Are the Emerging Geographies for The Left Ventricular Assist Devices Market Growth?
North America was the largest region in the left ventricular assist devices market in 2024. The regions covered in the left ventricular assist devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Left Ventricular Assist Devices Market?
2. What is the CAGR expected in the Left Ventricular Assist Devices Market?
3. What Are the Key Innovations Transforming the Left Ventricular Assist Devices Industry?
4. Which Region Is Leading the Left Ventricular Assist Devices Market?
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