Heart Pump Devices Market to Observe Significant Growth during 2018-2026
Heart pump devices are utilized to improve the course of blood in the body. These are utilized for a few conditions, for example, when a patient isn't qualified for a heart transplant, amid or after medical procedure, until a patient's heart recovers, or waiting for a heart transplant. Ventricular help gadget is an ordinarily utilized heart pump. A few sorts of heart pumps are accessible, for left ventricular assist device (LVAD), right ventricle assist device (RVAD), and biventricular assist device (BiVAD). Among these, left ventricular assist device is utilized more often and enables the left ventricle to pump blood to the aorta. The right ventricle assist gadget is utilized just for momentary help and enables the right ventricle to pump blood to pulmonary artery.
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The global heart pump devices market can be categorized as per the product type, end-user, application, and region. On the basis of product type, the heart pump devices market can be segmented into intra-aortic balloon pumps, ventricular assist devices, and total artificial heart. Ventricular assist devices can be sub-segmented as left ventricle (LVAD), right ventricle (RVAD), and biventricular assist device (BiVAD). On the basis of application, the heart pump devices market is categorized as into destination therapy, bridge-to-transplantation and other therapies.
Factors, for example, rising rate of cardiovascular illnesses, developing elderly people with low immunity, diminishing number of heart donors, and increase cases bad lifestyle are the major factors behind growth of the global heart pump devices market. As per HeartWare International Inc., there are less than 4,000 heart donors present worldwide every year. Different factors, for example, approval from the government for some of the advanced and new heart pump devices, growing healthcare sector use are propelling the development of the market. For example, in April 2018, Abiomed, Inc. got the green signal from US FDA's for Impella CP heart pump. Then again, elevated cost of the product are probably going to restrict the global heart pump devices market in the coming years.
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As per OECD study, cardiovascular ailments are the main source of mortality in Asia Pacific, with over 9.3 mn death caused because of such illnesses in the mentioned region in 2012. In the same year, cardiovascular ailments represented about 33% of the all the deaths in Asia Pacific.
Regionally, North America leads the global heart pump devices market. Factors, for example, advancement in technology, rising cases of cardiovascular ailments, and surge in demand for artificial heart are foreseen to support the heart pump devices in the region in the forthcoming years. As per a healthcare professional in California, there is a rise in events related to cardiovascular infections among the adult people. As indicated by the Centers for Disease Control and Prevention, heart sicknesses represent roughly 610,000 deaths in the U.S. every year. Europe is the second-driving market for heart pump devices. The heart pump devices market in Asia Pacific is required to extend rapidly in the coming years because of development of geriatric population in the nation like Japan, general rise in changed lifestyle among individuals, developing weight of cardiovascular illnesses, creating healthcare framework in the region.
Leading players working in the global heart pump devices market are Abbott Laboratories, Medtronic plc, Thoratec Corporation, HeartWare International Inc., Jarvik Heart, Inc., Berlin Heart GmbH, Terumo Europe NV, and Getinge AB.
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