Cardiac Assist Devices Market is Contemplated to Grow at a CAGR of 13.7% and is also Anticipated to Reach Upto USD 5.5 Billion by 2026, Estimates DelveInsight

LAS VEGAS, Dec. 13, 2021 /PRNewswire/ -- DelveInsight's Cardiac Assist Devices Market Insights and Forecast report provides the current and forecast Cardiac Assist Devices Market, upcoming innovation in the devices, individual market shares, challenges, drivers and barriers, market trends, and key competitors in the Cardiac Assist Devices Market. 

Some of the salient features from the Cardiac Assist Devices Market report: 

• As per DelveInsight analysis, in terms of revenue share, North America is predicted to register the fastest growth in the Cardiac Assist Devices market.
• Major pharma players working proactively in the Cardiac Assist Devices Market include Abbott Laboratories, Teleflex Incorporated, SynCardia Systems, LLC, St. Jude Medical Inc, CARMAT, CorWave SA, Medtronic PLC, Terumo Heart, Inc., NovaPump GmbH, Getinge AB, Balton Ltd., Meril Life Sciences Pvt. Ltd., Thoratec Corporation, CardiacAssist, Inc., Berlin Heart GmbH, and others.
• DelveInsight analyzes that Global Cardiac Assist Devices Market is expected to grow at a substantial CAGR of 13.7% during the forecast period from 2021 to 2026 and is anticipated to reach USD 5.5 billion by 2026.
• On December 17, 2020, Abbot had announced that FDA approved the updated labeling for the company's HeartMate 3 heart pump that can be used in pediatric patients with advanced refractory left ventricular heart failure.
• On March 30, 2020, the Food and Drug Administration had approved the 50 cc temporary Total Artificial Heart System developed and manufactured by SynCardia Systems LLC.

Interested in knowing how the Cardiac Assist Devices Market will be growing by 2026? Click to get a snapshot of Cardiac Assist Devices Market Analysis

Cardiac Assist Devices Overview 

Cardiac Assist devices are mechanical pumps that help the heart for enhancing its pumping efficiency and help maintain the optimal amount of blood flow throughout the body. For the patients suffering from congestive heart failure, where pharmacological methods of treatment tend to fail, cardiac assist devices could be used. Heart failure occurs majorly due to the weakening of heart muscles which also stops the heart from supplying optimal blood to the entire body. In such cases, heart transplantation is also a viable option, however, the number of donors for the heart, the plantation is continuously reducing, thereby increasing the demand for Cardiac Assist Devices.

To pick on the latest highlights related to Cardiac Assist Devices, get the snapshot of the key highlights entailed in the Cardiac Assist Devices Market report.

Cardiac Assist Devices Market Insight 

Geographically, the global Cardiac Assist Devices market is studied for North America, Europe, Asia-Pacific, and the Rest of the World. In terms of market share, North America tends to dominate the global cardiac assist devices market in the present scenario and is expected that it will continue to remain the same during the forecast period from 2021-2026. However, the domination exhibited by North America will be conspicuously challenged by the European market. This supremacy witnessed is attributed to the rising prevalence of cardiovascular disorder, higher adoption of Cardiac Assist Devices, and the presence of already established key manufacturers in the North American region.

For instance, on February 10, 2021, the United States Food and Drug Administration had granted the artificial heart developer, Carmat the approval for using the new version of an artificial heart in the United States early feasibility study. Thus, owing to the market development related to products, acquisitions and mergers, there will be significant growth in the Cardiac Assist Devices market during the forecast period.

To know more why North America is the leader in market growth for the Cardiac Assist Devices market, get a snapshot of the report Cardiac Assist Devices market

Cardiac Assist Devices Market Drivers and Barriers

Owing to the increase in the prevalence of cardiovascular disorders, there will be a higher demand for Cardiac Assist Devices, thereby leading to a boost in the Cardiac Assist Devices market growth during the forecast period. Other factors include growing heart failure cases, higher adoption of Cardiac Assist Devices, and an increase in research and development of technologically advanced Cardiac Assist Devices, which shall lead to an increased surge in the Cardiac Assist Devices market. Adding to these factors is the affordability of medical devices, acceptance of cardiac assistance devices in emerging countries, increasing penetration, innovation, and advancement of medical devices, all giving rise to exceptional growth in the Cardiac Assist Devices market.

Whereas on the other hand, the market for Cardiac Assist Devices had observed a period of reduced growth owing to the outbreak of COVID-19. Owing to the COVID-19 pandemic situation, various forms of elective procedures were temporarily stopped in contrast to the COVID-19 affected patients that were given utmost priority. Apart from this, several other factors including the lockdown-related restrictions, patient reluctance to visit the hospitals and clinics, logistical issues, and the temporary closing of manufacturing companies had further affected the healthcare system.

To get a deeper understanding of the driving factors related to the Cardiac Assist Devices market, find a snapshot of the Cardiac Assist Devices Market Dynamics.

Scope of the Cardiac Assist Devices Market Report

Study Period: 2018-2026

Key Companies: Abbott Laboratories, Teleflex Incorporated, SynCardia Systems, LLC, St. Jude Medical Inc, CARMAT, CorWave SA, Medtronic PLC, Terumo Heart, Inc., NovaPump GmbH, Getinge AB, Balton Ltd., Meril Life Sciences Pvt. Ltd., Thoratec Corporation, CardiacAssist, Inc., Berlin Heart GmbH, and others.

Cardiac Assist Devices Market Segmentation

By Product 

Ventricular Assist Devices

• Left Ventricular Assist Devices (LVAD)
• Biventricular Ventricular Assist Devices (BIVAD)
• Right Ventricular Assist Devices (RVAD)
• Total Artificial Hearts
• Intra-Aortic Balloon Pumps

By Type

• Transcutaneous
• Implantable

By Therapy

• Bridge-To-Transplant (BTT)
• Bridge-To-Candidacy (BTC)
• Destination Therapy (DT)

By End-User

• Hospitals
• Cardiac Centres
• Ambulatory Surgical Centers

By Geography

• North America
• Europe
• Asia-Pacific
• Rest of World

Delveinsight Analysis: The Cardiac Assist Devices market is expected to grow at a CAGR of 13.70%

and will reach USD 5.50 billion by 2026.

Table of Contents 

Learn more about the report offerings @ Cardiac Assist Devices Market Outlook

Understand the Competition, Risk Assessment, and effective Research and Development approach to take value-based decisions.

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SOURCE DelveInsight Business Research, LLP