Report : North America Left Ventricular Assist Device Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – Type of Flow (Pulsatile Flow and Non-Pulsatile Flow), Design (Implantable Ventricular Assist Devices and Transcutaneous Ventricular Assist Devices), and Application (Bridge to Transplantation, Destination Therapy, Bridge to Recovery, and Bridge to Candidacy)
At 5.4% CAGR, the North America Left Ventricular Assist Device Market is speculated to be worth US$ 739.28 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America left ventricular assist device market was valued at US$ 540.59 million in 2022 and is expected to reach US$ 739.28 million by 2028, registering a CARG of 5.4% from 2022 to 2028. Rising incidence of target diseases and procedures and uplifting geriatric population are the critical factors that attributed to the expansion of North America left ventricular assist device market.
According to the World Health Organization (WHO), cardiovascular disease (CVD) is one of the leading causes of death across the region. A few main contributors that are increasing the prevalence of CVD and stroke are family history, ethnicity, and age. The prevalence of CVD is also growing due to tobacco use; high blood pressure (hypertension); high cholesterol; exercise lack; unhealthy diet; excessive alcohol consumption; and diseases such as dyslipidemia, obesity, and diabetes. As per the American Heart Association, ~41.4% of adults in the US will have hypertension by 2030 (an 8.4% increase from 2012). Also, the country reports ~287,000 deaths due to heart failure every year. As per Temple Health, 70.9% of patients received heart transplants within a year, and the shortest waitlist average was 55.2% in the US in 2021. The increasing the heart transplant waiting list has propelled the use of left ventricular assist devices (LVADs) for end-stage heart failure patients to increase the ejection fraction and prevent organ failure. Therefore, the rising prevalence of CVD and heart failure and the long waiting list for a heart transplant propel the adoption of LVADs, which drives the growth of the North America left ventricular assist device market.
On the contrary, rise in product recalls and complications associated ventricular assist devices with hinders the North America left ventricular assist device market growth.
Based on type of flow, the North America left ventricular assist device market is segmented into non-pulsatile and pulsatile flow. The non-pulsatile segment held 59.2% market share in 2022, amassing US$ 319.81 million. It is projected to garner US$ 449.26 million by 2028 to expand at 5.8% CAGR during 2022–2028.
Based on design, the North America left ventricular assist device market is bifurcated into implantable ventricular assist devices and transcutaneous ventricular assist devices. The implantable ventricular assist devices segment held 57.3% market share in 2022, amassing US$ 309.61 million. It is projected to garner US$ 415.58 million by 2028 to expand at 5.0% CAGR during 2022–2028.
Based on application, the North America left ventricular assist device market is segmented into destination therapy, bridge to transplantation, bridge to candidacy, and bridge to recovery. The destination therapy segment held 40.4% market share in 2022, amassing US$ 218.46 million. It is projected to garner US$ 310.03 million by 2028 to expand at 6.0% CAGR during 2022–2028.
Based on country, the North America left ventricular assist device market has been segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 66.5% market share in 2022. It was assessed at US$ 359.22 million in 2022 and is likely to hit US$ 500.86 million by 2028, exhibiting a CAGR of 5.7% during the forecast period.
Key players dominating the North America left ventricular assist device market are ABIOMED Inc; Abbott Laboratories; Medtronic Plc; LivaNova Plc; Terumo Corp; Berlin Heart GmbH; BiVACOR Inc; Evaheart Inc; and BioVentrix Inc, among others.
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