How much is the LVAD market?

The lvad market size is estimated to grow at $962.42 million in 2019. Read More

What is the growth rate of the LVAD market?

The growth rate of the lvad year-over-year is 12.23%. Read More

Which region held the largest market share in the LVAD market?

North America is the region to held the largest market share with 46.08% growth. Read More

Which Segment has the largest market share in the LVAD market?

is the segment that has the largest market share in the market. Read More

LVAD Market by Application and Geography - Forecast and Analysis 2021-2025

Published: Jun 2021
Pages: 120
SKU: IRTNTR70682

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The LVAD market has the potential to grow by USD 962.42 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 12.23%.

This LVAD market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (destination therapy, BTD therapy, BTT therapy, and BTR therapy) and geography (North America, Europe, Asia, and ROW). The LVAD market report also offers information on several market vendors, including Abbott Laboratories, Abiomed Inc., Berlin Heart GmbH, CorWave SA, Jarvik Heart Inc., LivaNova Plc, Medtronic Plc, Sun Medical Technology Research Institute Co. Ltd., Terumo Corp., and Transonic Systems Inc. among others.

What will the LVAD Market Size be in 2021?

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LVAD Market: Key Drivers and Trends

The increasing prevalence of heart failure is notably driving the LVAD market growth, although factors such as complexities related to regulatory compliance and associated LVADs may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the LVAD market industry get your FREE report sample now.

The increasing prevalence and incidence of CVDs among people belonging to all age groups are leading to the rising mortality rate from the disease. Patients who suffer from chronic CVD have a higher risk of developing heart failure.
Ventricular assist devices are implantable mechanical pumps that are used in patients with heart failure or those who have a high chance of heart failure due to the weakening of the heart.
Ischemic heart disease, coronary artery diseases, and myocardial infarction are the major heart diseases that affect millions of people across the globe. These heart diseases are the underlying cause of heart failure among people globally.
The incidence of heart failure has increased across the world due to various factors, such as inactive or sedentary lifestyles, obesity, chronic heart disease, and high blood pressure, among others.
The increasing prevalence of heart disease among people, which leads to heart failure, has increased the demand for different ventricular assist devices, including LVADs. This will be a key driver boosting the growth of the LVAD market.

Favorable reimbursement policies is another key driver influencing the growth of the LVAD market.
Open heart surgery is one of the most expensive medical procedures. The availability of favorable reimbursement policies encourages people to opt for these expensive medical procedures, which, in turn, has a positive effect on the sales of LVADs.
Health insurance companies have started offering specialized health insurance policies such as critical illness insurance, insurance for senior citizens, and pre-existing illness plans to lure customers. These specialized health insurance plans enable individuals in the US to undergo expensive medical procedures.
In countries such as the Philippines, China, and India, private health insurance companies offer convenient reimbursement policies.
New reimbursement systems in emerging markets will encourage people to undergo expensive medical procedures, such as open-heart surgery, which is expected to contribute to the growth of the LVAD market in the region during the forecast period.

This LVAD market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major LVAD Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

Abbott Laboratories
Abiomed Inc.
Berlin Heart GmbH
CorWave SA
Jarvik Heart Inc.
LivaNova Plc
Medtronic Plc
Sun Medical Technology Research Institute Co. Ltd.
Terumo Corp.
Transonic Systems Inc.

The LVAD market is concentrated and the vendors are deploying growth strategies such as focusing on mergers and acquisitions (M&A) to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the LVAD market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.