Increasing Geriatric Population Contributes to Market Growth of North America Left Ventricular Assist Device Market
The geriatric population is prone to conditions such as CVDs, orthopedic disorders, metabolic disorders, and neurological disorders. According to the US Census Bureau, ~13% of the population in the US was aged 65 and above in 2009, which is estimated to increase by 20% by the end of 2030. Per a study by Emory Healthcare, in the US, ~1.4 million people of age more than 65 have congestive heart failure, and more than 5% of people aged 60–69 have congestive heart failure. Additionally, the annual incidence of congestive heart failure is 10 per 1,000 among people aged 65 and above. Congestive heart failure is one of the most common diagnoses in patients of age 65 and above age, and the condition led to 875,000 hospitalizations in the US in 2021. Left ventricular assist devices are widely used in managing end-stage heart failure in the geriatric population. Hence, the elevating aging population base and the increasing prevalence of heart failure in this population fuel the North America left ventricular assist device market.
North America Left Ventricular Assist Device Market Overview
The North America left ventricular assist device market is segmented into the US, Canada, and Mexico. The region accounted for the largest share of the global left ventricular assist device market in 2021 owing to the prevalence of cardiovascular diseases, especially in the geriatric population. A rise in the cases of heart failure and the inclusion of LVAD-associated costs under insurance are also contributing to the growth of the North America left ventricular assist devices market.
North America Left Ventricular Assist Device Market Revenue and Forecast to 2028 (US$ Million)
North America Left Ventricular Assist Device Market Segmentation
The North America left ventricular assist device market has been segmented on the basis of type of flow, design, and application, and country.
Based on the type of flow, the North America left ventricular assist device market is segmented into non-pulsatile and pulsatile flow. The non-pulsatile segment registered a larger market share in 2022.
The North America left ventricular assist device market, by design, is bifurcated into implantable ventricular assist devices and transcutaneous ventricular assist devices. The managed services segment accounted for a larger market share in 2022.
In terms of 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 the largest market share in 2022.
The North America left ventricular assist device market, by country, is segmented into the US, Canada, and Mexico. The US dominated the market in 2022.
AO Kaspersky Lab; Avast Software s.r.o.; Cisco Systems, Inc.; ESET, spol. s r.o.; Fortinet, Inc.; McAfee, LLC; Microsoft Corporation; and Palo Alto Networks, Inc. are the leading companies operating in the North America left ventricular assist device market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 540.59 Million |
| Market Size by 2028 | US$ 739.28 Million |
| CAGR (2022 - 2028) | 5.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type of Flow
|
|
Regions and Countries Covered
|
|
| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
|
The North America Left Ventricular Assist Device Market is valued at US$ 540.59 Million in 2022, it is projected to reach US$ 739.28 Million by 2028.
As per our report North America Left Ventricular Assist Device Market, the market size is valued at US$ 540.59 Million in 2022, projecting it to reach US$ 739.28 Million by 2028. This translates to a CAGR of approximately 5.4% during the forecast period.
The North America Left Ventricular Assist Device Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Left Ventricular Assist Device Market report:
The North America Left Ventricular Assist Device Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Left Ventricular Assist Device Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Left Ventricular Assist Device Market value chain can benefit from the information contained in a comprehensive market report.
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