Ventricular Assist Device Market Aims Bigger with Technological Innovations
The global ventricular assist devices market is extremely competitive with the presence of several well-established players.
Ventricular Assist Devices Market - An Overview
The global ventricular assist devices market is expected to witness strong growth during the forecast period between 2021 and 2031.
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Ventricular assist devices are deployed to pump blood from the lower chambers of the heart to the rest of the human body.
In the last few years, they have been extensively deployed in patients suffering from minor or major cardiovascular diseases, especially with patients suffering from ailments to their left ventricles.
Some of the commonly-deployed devices include left ventricular assist devices, right ventricular assist devices, and bi-ventricular assist devices.
The COVID-19 pandemic had a positive impact on the global ventricular assist devices market. As per reports, 1307 bariatric surgeries were conducted during the peak pandemic phase, leading to a large demand for ventricular assist devices and helping the market grow at a steady pace.
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Ventricular Assist Devices Market - Trends and Opportunities
Rising geriatric population worldwide suffering from cardiovascular diseases is the key growth driver for the ventricular assist devices market.
Also, surge in demand for ventricular devices due to a reduced number of organ donors is expected to drive the growth in the ventricular assist devices market.
In addition to this, rising number of approvals for ventricular assist devices is expected to contribute to market growth, in the upcoming years.
The left ventricular assist devices are expected to contribute the most to the overall market owing to increased research and development undertakings to produce improved quality of products in the pharmaceutical and medical industries.
Bridge-to-transplant application segment is anticipated to make the largest contribution to the overall market due to factors such as increase in the number of cardiac diseases and a rise in the number of heart failures, among patients.