Europe Left Ventricular Assist Device (LVAD) Market, By Product Type (Heart Pump, Controller, Batteries, Wires), Therapy (Bridge-To-Transplant (BTT) Therapy, Destination Therapy, Bridge-To-Candidacy (BTC) Therapy, Bridge-To-Recovery (BTR) Therapy), Age Group (Adult, Pediatric), Indication (Congestive Heart Failure, Congenital Heart Disease, Myocarditis, Cardiac Arrest, Familial Arrhythmias and Arrhythmic, Cardiomyopathies, Advanced Heart Failure, Others), Generation (Second Generation Devices, Third Generation Devices, First Generation Devices), Durability (Long-Term, Intermediate-Term, Short-Term), Design (Axial, Centrifugal), Pulse Type (Nonpulsatile, Pulsatile), End User (Hospitals, Cardiac Cath Laboratories, Specialty Clinics, Others), Distribution Channel (Direct Tender, Retail Sales, Others), Country (Germany, France, United Kingdom, Italy, Russia, Spain, Turkey, Netherlands, Switzerland, Belgium, Ireland, Rest of Europe) Industry Trends and Forecast to 2029.
Market Analysis and Insights : Europe Left Ventricular Assist Device (LVAD) Market
Europe left ventricular assist device (LVAD) market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 9.2% in the forecast period of 2022 to 2029 and is expected to reach USD 540.47 million by 2029. Increasing technological advancements in the left ventricular assist device act as driver for the left ventricular assist device (LVAD) market growth.
A left ventricular assist device (LVAD) is a mechanical pump implanted in patients with heart failure. It helps the left bottom chamber of the heart (left ventricle) pump blood out of the ventricle to the aorta and the rest of the body.
It is used for patients who have reached end-stage heart failure. The LVAD is surgically implanted, a battery-operated, mechanical pump, which helps the left ventricle (main pumping chamber of the heart) pump blood to the rest of the body.
The primary reasons driving the growth of the Europe left ventricular assist devices market are an increase in the number of patients suffering from heart failure and a scarcity of heart donors. Additionally, technically sophisticated LVADs (for example, HeartMate III) contribute to market growth. Moreover, ongoing breakthroughs in this discipline, as well as novel applications of innovative therapies, are projected to open up new avenues for the LVAD market. Nonetheless, these devices are expensive, and they pose hazards such as blood clots and bleeding, which are projected to considerably hamper market expansion. Furthermore, the increase in product recall is a significant challenge for the market.
The left ventricular assist device (LVAD) market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the left ventricular assist device (LVAD) market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Left Ventricular Assist Device (LVAD) Market Scope and Market Size
The left ventricular assist device (LVAD) market is segmented on basis of product type, therapy, age group, indication, generation, durability, design, pulse type, end user, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Europe left ventricular assist device (LVAD) market is categorized into ten notable segments such as product type, therapy, age group, indication, generation, durability, design, pulse type, end user, and distribution channel.
- On the basis of product type, the Europe left ventricular assist device (LVAD) market is segmented into heart pump, controller, batteries and wires. Batteries are further segmented into rechargeable and non-rechargeable. In 2022, the heart pump is expected to dominate the market as it performs the functions of the heart without replacing it and allows patients to live longer than those who are only treated with medical therapy.
- Based on therapy, the Europe left ventricular assist device (LVAD) market is segmented bridge-to-transplant (BTT) therapy, destination therapy, bridge-to-candidacy (BTC) therapy, bridge-to-recovery (BTR) therapy. In 2022, the bridge-to-transplant (BTT) sector is anticipated to dominate the market because it helps patients wait for a transplant and prevents further damage to the heart and other organs until a donor is available.
- Based on age group, the Europe left ventricular assist device (LVAD) market is segmented into adult and pediatric. Adult is further segmented into 19-39 years, 40-59 years, 60-79 years, and above 80 years. In 2022, the adult-segment is expected to dominate the market since the majority of heart failure events occur in adults. The prevalence is 1-2% of the European population, rising to more than 10% among people over the age of 70. This could imply that more than 10 million people suffer from heart failure.
- Based on indication, the Europe left ventricular assist device (LVAD) market is segmented into congestive heart failure, congenital heart disease, myocarditis, cardiac arrest, familial arrhythymias and arrhythmic cardiomyopathies, advanced heart failure and others. In 2022, congestive heart failure is expected to dominate the market since it is the most common diagnosis in hospitalized patients over age 65. In Europe, more than 16 million people have been diagnosed with CHF.
- Based on generation, the Europe left ventricular assist device (LVAD) market is segmented into second generation devices, third generation devices, and first generation devices. In 2022, the market is dominated by second-generation rotary pumps, which have the advantage of a smaller design and the potential for greater long-term mechanical reliability by eliminating the reservoir chamber and valves required.
- Based on durability, the Europe left ventricular assist device (LVAD) market is segmented into long-term, intermediate-term, short-term. In 2022, the long-term segment is expected to dominate to lead the market due to the need to keep supporting the heart pumps for longer duration, which is boosting market growth.
- Based on design, the Europe left ventricular assist device (LVAD) market is segmented into axial and centrifugal. In 2022, axial segment is expected to dominate since it performs efficiently at high rotating speeds and its decreased preload.
- Based on pulse type, the Europe left ventricular assist device (LVAD) market is segmented into nonpulsatile and pulsatile. In 2022, nonpulsatile category segment is expected to dominate the market because LVADs are being used more frequently in destination therapy, any adverse effects of inadequate arterial pulsatility on peripheral structures might be greatly magnified with the long implantation periods associated with this type of therapy.
- Based on end user, the Europe left ventricular assist device (LVAD) market is segmented into hospitals, specialty clinics, cardiac cath laboratories and others. In 2022, the hospitals sector segment is expected to dominate due to a growing pool of cardiovascular patients as a result of changing lifestyles and an aging population. In 2020, there were over 19,000 hospitals in 23 European countries.
- Based on distribution channel, the Europe left ventricular assist device (LVAD) market is segmented into direct tender, retail sales and others. In 2022, the direct tender sector is expected to dominate because it provides accountability and higher quality products due to the competition, which increases demand for these items.
Left Ventricular Assist Device (LVAD) Market Country Level Analysis
The left ventricular assist device (LVAD) market is analyzed and market size information is provided by the country, ten notable segments such as product type, therapy, age group, indication, generation, durability, design, pulse type, end user, and distribution channel as referenced above.
The countries covered in the Europe left ventricular assist device (LVAD) market report are the Germany, France, United Kingdom, Italy, Russia, Spain, Turkey, Netherlands, Switzerland, Belgium, Ireland, Rest of Europe.
Adult segment in Germany is expected to grow with the highest growth rate in the forecast period of 2022 to 2029 due to the rising prevalence of cardiovascular diseases, including advanced heart failure, cardiac arrest, and congestive heart failure in adults.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of European brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Strategic Activities by Major Market Players to Enhance the Awareness for Left ventricular assist device, is Boosting the Market Growth of Left Ventricular Assist Device (LVAD) Market
The left ventricular assist device (LVAD) market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2011 to 2020.
Competitive Landscape and Left Ventricular Assist Device (LVAD) Market Share Analysis
Left ventricular assist device (LVAD) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to left ventricular assist device (LVAD) market.
The major companies which are dealing in the left ventricular assist device (LVAD) are ABIOMED, Abbott, Evaheart, Inc, Saft, Berlin Heart, CorWave SA, Jarvik Heart, Inc. and among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contract and agreement are also initiated by the companies’ worldwide which are also accelerating the left ventricular assist device (LVAD) market.
For instance,
- In January 2021, CorWave SA received USD 40 million funding from three investors to develop an advanced breakthrough wave membrane heart pump. The funding received allowed the company to accelerate product development and strengthen its footprint in the global left ventricular assist device (LVAD) market.
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company footprints in the left ventricular assist device (LVAD) market which also provides the benefit for organization’s profit growth.
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