The global Ventricular Assist Devices (Vads) Market is projected to be around $2.5 billion by 2025 and it is expected to exhibit a positive growth over the forecast period. Increasing prevalence of cardiovascular diseases such as coronary artery disorders, heart failure and hypertension are the key factors driving the growth of VADs market. Also, rise in aging population and technological advancements in VADs are largely contributing to the positive market growth. As per a report of the Center for Diseases Control and Prevention, about 5.7 million American adults were affected by heart failure in 2016. VADs are being widely used as destination therapies for patients with advanced heart failure. Heart failure prevalence rises with age following an exponential pattern. Some potential risks associated with VADs are blood clots, excessive bleeding during and after procedure and device malfunctions. These factors can hamper the market growth to some extent.
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Regional Outlook and Trend Analysis
In 2016, North America dominated the global VADs market with highest market share. This dominance can be attributed to the presence of huge patient population along with high adoption of technologically advanced products and high disposable income of the population. With the presence of sophisticated healthcare infrastructure the market will show significant growth over the forecast period.
Asia-Pacific will exhibit fastest growth during the forecast period due to rising number of cases related to diabetic disorders. Promotion of medical tourism activities by governments in various emerging economies to offer cost effective treatment to foreign patients is set to boost the market growth of VADs.
Ventricular Assist Devices Market Segmentation
- Right Ventricular Assist Devices (RVADs)
- Left Ventricular Assist Devices (LVADs)
- Biventricular Assist Devices (BIVADs)
- Destination Therapy
- BTT and BTD Therapies
- BTR Therapy
- Implantable VADs
- Percutaneous VADs
By End User:
- Ambulatory Surgical Centers
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