Ventricular Assist Device Market Trends, Growth,Analysis and Outlook, 2025Posted by Ryan Shaw on August 26th, 2019 The global Ventricular Assist Device Market size is expected to reach USD 2,464.9 million by 2025, at a CAGR 11.4% over a forecast period, according to a new report by Grand View Research, Inc. Ventricular assist device (VAD) market is majorly driven by rising prevalence of heart failures, shortage of organ donors, and recent technological advancements improving the quality of lives of patients with weakened heart. HeartMate 3 LVAD by Abbott and EXCOR Pediatric LVAD by Berlin Heart are some of the examples of technologically advanced products. Increasing number of research activities and new product launches are some of the major factors contributing to the market growth. Increasing number of new product approvals and recent technological advancements are anticipated to further fuel the demand. In addition, growing number of new product approvals are expected to further propel the demand in the forthcoming years. For instance, in 2018, Abbott has received U.S. Food and Drug Administration (FDA) approval for its HeartMate3 Left Ventricular Assist Device (LVAD) for patients with advanced heart failure. The key players contributing to the growth of the VAD market include Abbott; Medtronic; Berlin Heart; and ReliantHeart. Ongoing clinical trials for testing of these devices and increased government funding are some of the factors that may positively impact the market over the forecast period. Growing patient awareness about the availability of these devices and increased R&D activities for new product development are projected to positively impact the market growth. Furthermore, rising cardiovascular diseases, improved healthcare infrastructure, and rise in healthcare expenditure propel the market growth in the developing countries. Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/ventricular-assist-devices-market Further key findings from the report suggest:
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