Middle East and Africa 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 (South Africa, Saudi Arabia, U.A.E., Egypt, Israel and Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights : Middle East and Africa Left Ventricular Assist Device (LVAD) Market
The 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 7.5% in the forecast period of 2022 to 2029 and is expected to reach USD 33.84 million by 2029. Changing lifestyle triggers coupled with development of cardiovascular diseases and presence of favorable reimbursement policies among others are acting as driver for the left ventricular assist device (LVAD) market growth.
Left ventricular assist device (LVAD) is a pump that we use for patients who have reached end-stage heart failure. Left ventricular assist device is surgically implanted and it’s a battery operated, mechanical pump that helps the left ventricle pump blood to the rest of the blood. LVADs can be used as bridge-to-transplant, destination therapy, bridge-to-candidacy therapy and bridge-to-recovery therapy.
Changing lifestyle triggers the development of cardiovascular diseases which has enhanced the requirement of left ventricular assist device (LVAD) products which improves patient outcomes and allows them to lead a better life hence acts as driver for the left ventricular assist device (LVAD) market. The complications and risks associated with LVAD and high cost of LVAD implantation and treatment is expected to hinder the growth of left ventricular assist device (LVAD) market growth. Increase in minimal invasive procedure and technological advancements in left ventricular assist devices, thus acts as an opportunity for the left ventricular assist device (LVAD) market. Ongoing COVID-19 has impacted the number of LVAD implantation which has reduced the overall product sales and impacts the overall market size, hence acts as challenge for the left ventricular assist device (LVAD) market growth.
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 the based on the 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.
- On the basis of product type, the left ventricular assist device (LVAD) market is segmented into heart pump, controller, batteries and wires. In 2022, heart pump segment is expected to dominate the left ventricular assist device (LVAD) market due continuous technological advancements and increasing number of product clinical trials for pediatric use.
- On the basis of therapy, the left ventricular assist device (LVAD) market is segmented into bridge-to-transplant (BTT) therapy, destination therapy, bridge-to-candidacy (BTC) therapy, bridge-to-recovery (BTR) therapy. In 2022, bridge-to-transplant (BTT) therapy segment is expected to dominate the market due to miniaturization of LVAD devices and improvements in operative techniques which have led to significant improvement in survival rates.
- On the basis of age group, the left ventricular assist device (LVAD) market is segmented into adult and pediatric. In 2022, adult segment is expected to dominate the market due to changing lifestyles and increasing geriatric population susceptible to heart failure.
- On the basis of indication, the left ventricular assist device (LVAD) market is segmented into congestive heart failure, congenital heart disease, myocarditis, cardiac arrest, familial arrhythmias and arrhythmic, cardiomyopathies, advanced heart failure and others. In 2022, congestive heart failure is expected to dominate the market due to increasing implantation of continuous flow pumps and rising prevalence of congestive heart failure.
- On the basis of generation, the left ventricular assist device (LVAD) market is segmented into second generation devices, third generation devices and first generation devices. In 2022, second generation devices segment is expected to dominate the market due to high durability, quieter rate of device implantation and lower rates of driveline infections.
- On the basis of durability, the left ventricular assist device (LVAD) market is segmented into long-term, intermediate-term and short-term. In 2022, long-term segment is expected to dominate the market due to rising demand of durable left ventricular assist devices associated with long term successful rates.
- On the basis of design, the left ventricular assist device (LVAD) market is segmented into axial and centrifugal. In 2022, axial segment is expected to dominate the market as these have been first approved in the market and are the most common LVAD pump which have enhanced the patient’s life status especially in patients suffering from end-stage heart failure.
- On the basis of pulse type, the left ventricular assist device (LVAD) market is segmented into nonpulsatile and pulsatile. In 2022, nonpulsatile segment is expected to dominate the market as these are continuous-flow LVAD pumps and enhances cardiac functional benefits among patients suffering from heart failures. Moreover, nonpulsatile pumps have improved the exercise capacity among patients diagnosed with heart failure.
- On the basis of end user, the left ventricular assist device (LVAD) market is segmented into hospitals, specialty clinics, cardiac cath laboratories and others. In 2022, the hospitals segment is expected to dominate the market due to strategic agreements between the market players and hospitals for continuous technological advancements of LVADs. Moreover, ongoing clinical trials for providing patients with high quality LVAD devices is leveraging the market growth.
- On the basis of distribution channel, the left ventricular assist device (LVAD) market is segmented into direct tender, retail sales and others. In 2022, the direct tender segment is expected to dominate the market as direct tender offers high quality LVADs in a cost-effective manner. Moreover, it also allows easy device procurements at reduced interval of time which is also enhancing the market growth.
Left Ventricular Assist Device (LVAD) Market Country Level Analysis
The left ventricular assist device (LVAD) market is segmented on the based on the product type, therapy, age group, indication, generation, durability, design, pulse type, end user and distribution channel.
The countries covered in the left ventricular assist device (LVAD) market report are the South Africa, Saudi Arabia, U.A.E., Egypt, Israel and Rest of Middle East and Africa.
Heart pump segment in Middle East and Africa region is expected to grow with the highest growth rate in the forecast period of 2022 to 2029 because of increasing prevalence of cardiac disease and surge in launch of heart awareness campaigns. The heart pump segment in Saudi Arabia is dominating the Middle East and Africa left ventricular assist device (LVAD) market due to increasing implantation of mechanical circulatory support devices.
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 global 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.
Increasing Geriatric Population Along with Rising Prevalence of Cardiac Diseases 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 Abbott, Evaheart, Inc, Saft (A Subsidiary of TotalEnergies), ABIOMED, Berlin Heart among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many new initiatives and increasing clinical trials so as to achieve product approvals initiated by the companies is accelerating the left ventricular assist device (LVAD) market.
For instance,
- In March 2021, Berlin Heart achieved first pediatric heart transplantation in Saudi Arabia by using Berlin Heart’s EXCOR left ventricular assist device. This heart transplantation has improved recovery rate among pediatric age groups.
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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