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Global Artificial Heart Market 2019-2023| 9% CAGR Projection Over the Next Five Years | Technavio

May 14, 2019

LONDON--(BUSINESS WIRE)--May 14, 2019--

The global artificial heart market is expected to post a CAGR of close to 9% during the period 2019-2023, according to the latest market research report by Technavio.

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Technavio has published a new market research report on the global artificial heart market from 2019-2023 (Graphic: Business Wire)

The number of patients currently waiting for heart transplantation is significantly higher than the number of donor hearts available, and most patients die waiting for a transplant. The lack of available therapies for advanced HF has increased the demand for durable LVAD and TAH over the last decade. This growing demand is driven by improving technology with better outcomes in patients with advanced HF, and the availability of smaller devices fitting into more patients. Currently, the number of global LVADs implanted per year is higher than the number of heart transplants. Moreover, the demand for artificial hearts is expected to continue to increase during the forecast period.

As per Technavio, the focus on the development of non-blood-contacting VADs will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global artificial heart market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global artificial heart market: Focus on development of non-blood-contacting VADs

The artificial heart market is witnessing increased focus on the development of non-blood-contacting VADs as they can be applied without touching the bloodstream. They can overcome the limitations of all current circulatory assist devices, which touch the blood, and are thus, prone to various complications such as high rates of stroke and gastrointestinal bleeding. Non-blood-contacting VADs can be programmed to deliver energy to the bloodstream during cardiac systole or diastole. Thus, several vendors are increasing their R&D efforts to develop non-blood contacting VADs. This technology may enter the market during the forecast period and is expected to become a significant driver responsible for market growth.

“Apart from the focus on the development of non-blood-contacting VADs, factors such as the clinical trials for the development of TAHs, strategic acquisitions, and the increasing prevalence of HF and associated risk factors will significantly impact the growth of the artificial heart market during the forecast period,” says a senior research analyst at Technavio.

Global artificial heart market: Segmentation analysis

This market research report segments the global artificial heart market by product (VAD and TAH) and geographic regions (North America, Europe, Asia, and ROW)

The North American region led the market in 2018, followed by Europe, Asia, and ROW respectively. The market growth in North America can be attributed to the high prevalence of HF and associated risk factors, favorable reimbursement policies, improved healthcare infrastructure, access to advanced healthcare, and the strong presence of established vendors in the region. The US and Canada are the major revenue contributors to the market in North America.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190514005599/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: HEALTH CARDIOLOGY MEDICAL DEVICES

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 05/14/2019 10:05 AM/DISC: 05/14/2019 10:05 AM

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