Mechanical Circulatory Support Devices Market is Anticipated to Grow at a Significant CAGR of 9.43% and is Expected to Expand Up to USD 3.88 Billion by 2026, Analyzes DelveInsight

Los Angeles, USA, Jan. 19, 2022 (GLOBE NEWSWIRE) -- Mechanical Circulatory Support Devices Market is Anticipated to Grow at a Significant CAGR of 9.43% and is Expected to Expand Up to USD 3.88 Billion by 2026, Analyzes DelveInsight

The Mechanical Circulatory Support Devices market is contemplated to rise in the coming years owing to various factors such as rising incidence of cardiovascular disorders and the growing incidence of heart failure leading to an increase in the demand for Mechanical Circulatory Support Devices, thus driving the growth of Mechanical Circulatory Support Devices market.

DelveInsight's Mechanical Circulatory Support Devices Market Insights and Forecast report provides the current and forecast Mechanical Circulatory Support Devices, upcoming innovation in the devices, individual market shares of the devices, challenges, drivers and barriers, market trends, and key competitors in the Mechanical Circulatory Support Devices. 

Some of the essential takeaways from the Mechanical Circulatory Support Devices Market report: 

• According to DelveInsight analysis, North America is expected to dominate the overall Mechanical Circulatory Support Devices market during the forecast period.
• Many major Mechanical Circulatory Support Device companies working continuously include names such as market include Abbott Laboratories, Teleflex Incorporated, SynCardia Systems, LLC, St. Jude Medical Inc, CARMAT, CorWave SA, Medtronic PLC, Terumo Heart, Inc., NovaPump GmbH, Getinge AB, Balton Ltd., Meril Life Sciences Pvt. Ltd., Thoratec Corporation, CardiacAssist, Inc., Berlin Heart GmbH, and others.
• As per DelveInsight estimates, the global Mechanical Circulatory Support Devices market is anticipated to grow at a tremendous CAGR of 9.43% during the forecast period from 2021 to 2026 and is also expected to reach USD 3.88 billion by 2026.
• On December 17, 2020, Abbott had announced about their FDA approval for updated labeling of the company’s HeartMate 3 heart pump so that it could be used readily in pediatric patients suffering from advanced refractory left ventricular heart failure.
• On October 03, 2019, Medtronic had announced FDA approval for the development of a fully implanted LVAD.

To pick on the latest highlights related to the Mechanical Circulatory Support Devices Market get the snapshot of the key highlights entailed in the Mechanical Circulatory Support Devices Market report.

Mechanical Circulatory Support Devices Overview 

A Mechanical Circulatory Support Device is the device that helps the heart to function properly. It is a device that is used for the treatment of end-stage chronic heart failure. The device tends to offer improved survival and overall quality of life for patients that have exhausted medical management or have developed a sudden, and acute heart failure that was accompanied by the cardiogenic shock. Also, in order to take care of the left and right ventricles of the heart, ventricular assistive devices are used to keep the patient alive.

Interested in knowing how the Mechanical Circulatory Support Devices Market will be growing by 2026? Click here to get a snapshot of Mechanical Circulatory Support Devices Market Landscape 

Mechanical Circulatory Support Devices Market Insight 

Geographically, the global Mechanical Circulatory Support Devices market is studied for North America, Europe, Asia-Pacific, and the Rest of the World. In terms of revenue share, North America tends to lead the global market in the present scenario and is expected that it will continue to remain superior during the forecast period. However, the domination exhibited by North America will be conspicuously challenged by the European market. This domination is attributed due to the rising prevalence of cardiovascular disorders, favorable reimbursement policies, and the presence of all major key players in the North American market.

For Instance, On October 19, 2018, Abbott’s heartmate 3 heart pump had received FDA approval for advanced heart failure patients as they were not eligible for a heart transplant procedure. Furthermore, there are great opportunities for market penetration in the Asia Pacific region as well because the major companies already have a grip in these developed regions and can target the developing economies.

Understand more about the Market Landscape of the Device @ Mechanical Circulatory Support Devices Analysis

Mechanical Circulatory Support Devices Market Drivers and Barriers

There will be an increase in the demand for Mechanical Circulatory Support Devices owing to the factors such as the rising prevalence of cardiovascular disorders, rising heart failure cases, and an increase in usage of technologically advanced Mechanical Circulatory Support Devices leading to a rise in the overall mechanical circulatory support devices market growth during the forecasting period 2021-2026. In addition to that, technologically advanced features of Mechanical Circulatory Support Devices like the smaller size enable it to be implanted with minimal invasion to provide complete ventricular circulation assistance and reduced hemolysis by providing ample path for circulation act as elements leading to a surge in the Mechanical Circulatory Support Devices market. Also, the funding provided by various governments will aid in the research and development of these devices, further propelling the market growth of Mechanical Circulatory Support Devices.

On the other hand, the Mechanical Circulatory Support Devices market had observed a period of stagnant growth owing to the outbreak of COVID-19. Due to the COVID-19 pandemic situation, all the other forms of elective procedures were temporarily stopped in contrast to the COVID-19 affected patients that were given utmost priority. Other factors such as lockdown restrictions, patient reluctance to visit the hospitals and clinics, logistical restrictions and the closing down of manufacturing facilities can all be considered as drawbacks for the Mechanical Circulatory Support Devices market.

To get a deeper understanding of the driving factors related to the Mechanical Circulatory Support Devices market, get a snapshot of the Mechanical Circulatory Support Devices Market Dynamics

Scope of the Mechanical Circulatory Support Devices Market Report

Study Period: 2018-2026

Key Mechanical Circulatory Support Devices Companies: Abbott Laboratories, Teleflex Incorporated, SynCardia Systems, LLC, St. Jude Medical Inc, CARMAT, CorWave SA, Medtronic PLC, Terumo Heart, Inc., NovaPump GmbH, Getinge AB, Balton Ltd., Meril Life Sciences Pvt. Ltd., Thoratec Corporation, CardiacAssist, Inc., Berlin Heart GmbH, and others.

Mechanical Circulatory Support Devices Market Segmentation

By Product Type

• Ventricular Assist Devices

• Left Ventricular Assist Devices (LVAD)
• Biventricular Ventricular Assist Devices (BIVAD)
• Right Ventricular Assist Devices (RVAD)

• Artificial Heart
• Extracorporeal Membrane Oxygenation
• Intra-Aortic Balloon Pumps

By End-User

• Hospitals
• Ambulatory Surgical Centers
• Specialty Cardiology Centers

By Geography

• North America
• Europe
• Asia-Pacific
• Rest of the World 

Delveinsight Analysis: The Mechanical Circulatory Support Devices market is expected to grow at a
CAGR of 9.43% and will reach USD 3.88 billion by 2026.

Table of Contents 

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Discover more about the Medical Devices Reports to diagnose, prevent and cure various diseases, along with key players developing several devices to drive the treatment market. 

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