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Ventricular Assist Device Market is expanding at a CAGR of 9.20% from 2016 to 2024

According to the research report, the North America market for ventricular assist devices offered an opportunity worth US$0.49 bn in 2015. Expanding at an impressive CAGR of 9.20% during the period from 2016 to 2024, the market is projected to reach US$1.07 bn by 2024.

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Ventricular Assist Device Market is expanding at a CAGR of 9.20% from 2016 to 2024

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  1. Ventricular Assist Device Market - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024 With a large number of well-established players, such as Berlin Heart, SynCardia Systems, Sunshine Heart, St. Jude Medical, Heart Ware International, and Abiomed, the market for ventricular assist devices (VADs) in North America demonstrates a fiercely competitive landscape, finds a report by Transparency Market Research (TMR). Most of the leading companies rely on innovation and technological advancements for business development. However, in the coming years, their focus is projected to shift towards strategic collaborations in order to curtail the competition within the market. According to TMR, the opportunity in the North America market for VADs, which stood at US$0.4 bn in 2015, is likely to expand at a healthy CAGR of 9.20% between 2016 and 2024 and increase to US$1.07 bn by the end of the forecast period. The destination therapy (DT) segment has been reporting a greater application of VADs than the other two indication segments. It is expected to remain the leader with its share rising to 66.7% in the overall market by 2024, states the report. Browse Full Research Report: http://www.transparencymarketresearch.com/north-america-ventricular- assist-device-market.html A geographical analysis of the North America VAD market has also been offered in this research report. As per the study, the U.S. and Canada are the prime domestic markets for ventricular assist devices in this region. Among the two, the U.S. has emerged as the leading contributor to the overall market, thanks to the rise in the awareness level among consumers regarding the benefits offered by VADs.

  2. Expanding at a CAGR of 9.70%, this domestic market is anticipated to remain leading throughout the forecast period. The significant increase in patient assistance and clinical research is likely to act as the key driving factor behind the growth of this market over the next few years, notes the research study. Cardiovascular disorders have been a cause of concerns among people in North America since the last few years. As per the American Heart Association, nearly 70% of the geriatric population with diabetes die from heart disorders and almost 16% pass away from strokes in North America. “Most of the advanced heart failures in humans are caused by left ventricular dysfunction, resulting in the increased application of LVADs, which eventually, is adding substantially to the overall demand for VADs in North America,” says the author of this study. Other prominent factors, fueling the demand for VADs in North America are the limited number of heart donors and the growing awareness among consumers regarding the benefits of VADs, states the market report. While the North America market for ventricular assist devices looks thriving currently, the overall cost incurred in the treatment may create obstructions in the growth trajectory of this market over the forthcoming years. The increasing incidence of device malfunctioning and product recalls is also projected to restrict the progression of this market in the near future, notes the research study. Browse Full Press Release: Press Release

  3. About Us Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports. Contact Us Transparency Market Research State Tower, 90 State Street, Suite 700, Albany NY - 12207 United States USA - Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Website: http://www.transparencymarketresearch.com

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