Transparency Market Research in its new report titled, “Heart Pump Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the heart pump devices market. The TMR report anticipates that the rising incidence of cardiovascular diseases, growing geriatric population with weak disease resistance, decreasing number of donor heart, and high prevalence of unhealthy lifestyle will drive the heart pump devices market during the forecast period i.e, 2018-2026. Other factors such as regulatory approval of several new and advanced heart pump devices, rising health care expenditure are propelling the growth of the market, says the report.
The TMR report has segmented the global heart pump devices market based on product type, application, end-user, and geography. On the basis of product type, the heart pump devices market is split into ventricular assist devices, intra-aortic balloon pumps, and total artificial heart.
Ventricular assist devices can be further classified into right ventricle (RVAD), left ventricle (LVAD), and biventricular assist device (BiVAD). In terms of application, the heart pump devices market is classified into bridge-to-transplantation, destination therapy, and other therapies. On the basis of end-user, the heart pump devices market can be categorized into hospitals, clinics, cardiac centers, and ambulatory surgery centers. In terms of geography, the global heart pump devices market can be classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
According to the report, North America dominates the global heart pump devices market. Factors such as technological advancements, increased number of cardiovascular diseases, and rise in demand for artificial heart are anticipated to boost the heart pump devices in the region during the forecast period. According to a health care practitioner from California, there is an increasing occurrence of several cardiovascular diseases among the adult population. As per the report, Europe is the second-leading market for heart pump devices.
The heart pump devices market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to growth of elderly population in the country like Japan, prevalence of unhealthy lifestyle among people, growing burden of cardiovascular diseases, developing health care infrastructure in the region. According to OECD estimation, cardiovascular diseases are the leading cause of deaths in Asia Pacific, with over 9.3 million deaths caused due to such diseases in the region in 2012. Cardiovascular diseases accounted for about 33% of the total number of deaths in Asia Pacific in 2012.
Some of the prominent players operating in the heart pump devices market are profiled in this report to give a better competitive landscape and these include Medtronic plc, Abbott Laboratories, Thoratec Corporation, Jarvik Heart, Inc., HeartWare International Inc., Terumo Europe NV, Berlin Heart GmbH, and Getinge AB.
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