Insightace Analytics Pvt. Ltd. announces the release of a market assessment report on the “Global Cardiac Assist Devices Market- by Modality (Transcutaneous and Implantable), Products (Ventricular Assist Device (VAD) and Intra-Aortic Balloon Pump), End-User (Hospital and Ambulatory Surgical Centers), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by Insightace Analytics, the global Cardiac Assist Devices Market is expected to grow at an 8.0 % CAGR during the forecast period for 2023-2031.
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Mechanical pumps are called cardiac assist devices to aid the heart’s ability to pump more effectively and maintain an ideal level of blood flow throughout the body. Cardiac assist devices may be utilized for congestive heart failure patients when ineffective pharmaceutical treatment methods.
The market environment is becoming even more favourable for market growth in the coming years due to the rising demand for cardiac assist devices. Innovations in ventricular assist device technology brought about by cutting-edge technologies like artificial intelligence and the Internet of Things have significantly increased usage.
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North America is anticipated to contribute to the significant cardiac assist devices market over the forecast years, ascribed to an increase in the prevalence of heart failure, the growth of the healthcare industry, and increasing government spending on the construction of healthcare facilities in these regions. In addition, the Asia Pacific cardiac assist devices market is expected to grow significantly.
Major market players operating in the cardiac assist devices market include Terumo Heart, Inc., Nova Pump GmbH, Getinge AB, Belton Ltd., Meryl Life Sciences Pvt. Ltd., Throated Corporation, Cardiac Assist, Inc., and Berlin Heart G.
Recent collaborations and agreements in the market:
- In October 2021, SynCardia, a manufacturer of whole artificial hearts, was purchased by Picard Medical. As a result of the acquisition, SynCardia will be able to strengthen its current products, improving clinical support for clinicians. Also, it will make it possible for the business to request authorization to use its goods in novel ways.
- In March 2020, for patients nearing death from biventricular failure, the US FDA approved Nocardia Systems LLC’s use of a 50CC temporary artificial heart system as a bridge to a heart transplant.
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Market Segments
Global Cardiac Assist Devices Market, by Modality, 2023-2031 (Value US$ Mn)
- Transcutaneous
- Implantable
Global Cardiac Assist Devices Market, by Products, 2023-2031 (Value US$ Mn)
- Ventricular Assist Device (VAD)
- Intra-Aortic Balloon Pump
Global Cardiac Assist Devices Market, by End-User, 2023-2031 (Value US$ Mn)
- Hospital
- Ambulatory Surgical Centers
Global Cardiac Assist Devices Market, by Region, 2023-2031 (Value US$ Mn)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North America Cardiac Assist Devices Market, by Country, 2023-2031 (Value US$ Mn)
- S.
- Canada
Europe Cardiac Assist Devices Market, by Country, 2023-2031 (Value US$ Mn)
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific Cardiac Assist Devices Market, by Country, 2023-2031 (Value US$ Mn)
- India
- China
- Japan
- South Korea
- Australia & New Zealand
Latin America Cardiac Assist Devices Market, by Country, 2023-2031 (Value US$ Mn)
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa Cardiac Assist Devices Market, by Country, 2023-2031 (Value US$ Mn)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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