Global Left Ventricular Assist Devices Market Forecast 2024-2033 – Market Size, Drivers, Trends, And Competitors

The Business Research Company's Left Ventricular Assist Devices Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 17, 2024 /EINPresswire.com/ -- The left ventricular assist devices market is projected to grow from $1.5 billion in 2023 to $1.64 billion in 2024, at a CAGR of 9.9%. Despite challenges in the healthcare sector, the market is anticipated to reach $2.3 billion by 2028, driven by expanded indications, increased heart failure cases, and advancements in implantation techniques.

Rise in Healthcare Expenditures Drives Market Growth
The rise in healthcare expenditures is a significant factor contributing to the growth of the left ventricular assist devices market. Health expenditures encompass costs associated with providing health services, family planning activities, nutrition programs, and emergency help. Increasing healthcare expenditure advances the development of health-related products, including left ventricular assist devices. For instance, according to the Centers for Medicare & Medicaid Services, US healthcare spending increased by 2.7% to $4.3 trillion in 2021, accounting for 18.3% of the GDP. This rise in expenditures is driving the market's growth.

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Key Players and Market Trends
Major companies operating in the left ventricular assist devices market include Abbott Laboratories, Medtronic plc., Terumo Corporation, and St. Jude Medical. These companies focus on product innovation and technological advancements to sustain their market positions. For instance, CorWave SA developed a left ventricular assist device membrane pump technology in January 2021, which closely mimics the action of a heartbeat using a pulse pump.

Segments:
• By Type: Transcutaneous Left Ventricular Assist Devices, Implantable Left Ventricular Assist Devices
• By Type of Flow: Pulsatile, Non-Pulsatile
• By Application: Bridge-to-Recovery (BTR) Therapy, Bridge-to-Transplant (BTT) Therapy, Destination Therapy, Bridge-to-Candidacy (BTC) Therapy
• By End-user: Cardiology Centers, Hospitals

Geographical Insights: North America Leading the Market
North America led the left ventricular assist devices market in 2023 and is expected to continue its dominance. The report provides detailed insights into regional dynamics, market trends, and growth opportunities in regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.

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Left Ventricular Assist Devices Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Left Ventricular Assist Devices Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on left ventricular assist devices market size, left ventricular assist devices market drivers and trends, left ventricular assist devices market major players, competitors' revenues, market positioning, and market growth across geographies. The left ventricular assist devices market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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