Largest segment driving the growth of the Cardiac Assist Devices Market

 


The global Cardiac Assist Devices Market is estimated to be valued at US$ 3.2 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Cardiac assist devices aid in pumping blood throughout the body when heart's pumping action weakens due to disorders like heart failure. It includes Ventricular Assist Devices (VADs), Intra-Aortic Balloon Pumps (IABPs) and Total Artificial Hearts (TAHs). These devices are crucial for patients awaiting a heart transplant.

Market key trends:

The increasing adoption of telemonitoring and remote patient monitoring by healthcare facilities as well as patients is one of the major trends witnessed in the Cardiac Assist Devices Market. Telemonitoring allows remote monitoring of patients' health using digital technologies thus reducing hospital visits. It provides real-time monitoring of patients vitals and early detection of worsening conditions. This has significantly improved patient care while lowering healthcare costs. With growing emphasis on patient-centric care, telemonitoring is poised to become an integral part of cardiac assist devices over the forecast period.

Segment Analysis

Content: The cardiac assist devices market is segmented into ventricular assist devices, total artificial hearts, and intra-aortic balloon pumps. Among these, ventricular assist devices dominate the market and account for around 80% share due to the increasing applications of left ventricular assist devices(LVADs) and right ventricular assist devices(RVADs) in bridging patients to heart transplantation. LVADs dominate ventricular assist devices segment owing to their ability to support the left ventricle and improve the patient's quality of life.

Key Takeaways

The global cardiac assist devices market is expected to witness high growth, exhibiting a CAGR of 13% over the forecast period, due to increasing prevalence of cardiovascular diseases worldwide. According to the American Heart Association's Heart Disease and Stroke Statistics 2023 report, cardiovascular diseases are the leading global cause of death, accounting for over 17.6 million deaths annually

Regional analysis: North America dominates the global cardiac assist devices market share due to supportive reimbursement policies and higher awareness regarding advanced treatment methods. Asia Pacific is expected to be the fastest growing market attributed to large population base suffering from cardiovascular diseases and improving healthcare infrastructure.

Key players: Key players operating 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. Abbott Laboratories leads the global market share owing to its broad product portfolio and strong geographical presence across major markets.

Read More

https://www.dailyprbulletin.com/cardiac-assist-devices-market-size-share-growth-outlook-2023/


Comments

Post a Comment

Popular posts from this blog

Uninterruptible Power Supply Market Poised for Significant Growth Accelerated by Adoption of Renewable Energy Sources

Image
  Uninterruptible Power Supply Market  An uninterruptible power supply (UPS) is a power supply system designed to provide emergency power to a load when the input power source fails. UPS systems provide transient voltage protection from power surges and spikes and consistent power even under brownout conditions. They are most commonly used in data centers, telecommunication systems, medical equipment, industrial processes that require continuous operation, and other critical applications where power disruptions cannot be tolerated. The global uninterruptible power supply market is estimated to be valued at US$ 9.95 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.   Market Dynamics: The uninterruptible power supply market is expected to witness significant growth over the forecast period. This is mainly attributed to the rising focus on improving power reliability acro
Read more

Yacht Charter Market is Estimated to Witness High Growth Owing to Opportunity of Increasing Recreational Boating

Image
  Yacht Charter Market Yacht charter is the business of renting or leasing yachts and sailing boats for pleasure and touring. Yachts are primarily used for entertainment of guests, luxury experience, and recreational enjoyment. Large yachts come equipped with various amenities such as ocean-view staterooms, gourmet galley kitchens, lavish lounges and sundecks. Some of the popular uses include dinners, parties, family trips, weekend getaways, and corporate events. The global yacht charter market is estimated to be valued at US$ 68809.83 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.   Market Dynamics: The global yacht charter market is witnessing high growth owing to the rising popularity of luxury yachts among high-net-worth individuals as a preferred leisure activity. Yacht charters allow individuals to experience the luxury lifestyle without the steep costs associ
Read more

The Global Switchgear Market Growth Accelerated By Increased Demand For Switchgear From Renewable Energy Sector

Image
Switchgear Market   Switchgear equipment are devices consisting of circuit breakers, fuses or any other associated equipment used for operating, isolating, protecting and managing electricity distribution in an electrical power system. These equipment are used in transmission and distribution systems to control the flow of power and limit electrical currents. They protect circuits and equipment in the system by limiting electrical currents to safe levels in the event of a short circuit or any sudden overloading. The growing demand for ensured power supply across manufacturing industries and commercial spaces has been driving increased adoption of switchgear.   The global switchgear market is estimated to be valued at US$ 127.13 Mn in 2024 and is expected to exhibit a CAGR of 4.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.   Market Dynamics: One of the key drivers for the growth of the switchgear market has be
Read more