The global ventricular assist device market size was USD 1.12 billion in 2020. The market is projected to grow from USD 1.23 billion in 2021 to USD 2.24 billion in 2028 at a CAGR of 8.9% during the 2021-2028 period. This information is provided by Fortune Business Insights™, in its report, titled, “Ventricular Assist Device Market, 2021-2028.”
Industry Development
February 2021: CARMAT has gained sanction for the usage of novel version of its artificial heart in the Early Feasibility Study (EFS). This novel variety comprises specific enhancements in the prosthesis and the wearable system grounded on clinical experience attained in the PIVOTAL study.
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Ventricular Assist Device Market Growth Factors:
Heart failure is among the dominating reasons of mortality globally, impacting over 1-2% of the population in western nations. As per the American Heart Association (AHA), the occurrence of heart failure is estimated to augment at a substantial development pace by 2030, in the U.S. is expected to reach over 8 million patients.
Furthermore, in 2020, across the world, over 5.5 million people are predicted to be impacted by heart failure. Mentioning the surging number of patients experiencing the condition, numerous producers are undertaking initiatives for the obtainability of ventricular assist devices.
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