NEW YORK, Nov. 29, 2021 /PRNewswire/ -- Technavio's latest offering, the Ventricular Assist Devices Market report provides a detailed analysis of the competitive scenario and the market growth across various regions. The ventricular assist devices market value is set to grow by USD 4.05 billion from 2020 to 2025, progressing at a CAGR of 21.46%.

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38% of the market's growth will originate from North America. US and Canada are the key markets for ventricular assist devices in the region. The awareness initiatives by organizations will facilitate the ventricular assist devices market growth in North America. The report offers an up-to-date analysis of the geographical composition of the market, competitive intelligence, and regional opportunities in store for vendors.

Market Dynamics

The market is driven by factors such as the increasing prevalence of heart failure, and the scarcity of donor's hearts for transplantation.  However, the high costs associated with ventricular assist devices are hindering market growth. The ventricular assist devices market analysis report also provides detailed information on other upcoming trends that will have a far-reaching effect on the market growth.

Company Profiles

The ventricular assist devices market is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market. The ventricular assist devices market report includes information on the product launches, sustainability, and prospects of leading vendors including Abbott Laboratories, Abiomed Inc., Asahi Kasei Corp., Berlin Heart GmbH, Calon Cardio-Technology Ltd, CorWave SA, Jarvik Heart Inc., LivaNova Plc, Medtronic Plc, and Mohawk Innovative Technology Inc.

Few Companies with the Key Offerings 

• Abiomed Inc. - The company is involved in offering a wide range of products such as the OXY-1 System that is a compact cardiopulmonary support system with an integrated oxygen concentrator.
• Asahi Kasei Corp. - The company is involved in offering a wide range of products such as Defibrillators, AEDs, and many more.
• Berlin Heart GmbH -The company is involved in offering innovative systems for mechanical circulatory support.

Competitive Analysis

The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Market Segmentation

• By Product, the market is classified into left and right ventricular assist devices and bi-ventricular assist devices. The ventricular assist devices market share growth by the left and right ventricular assist devices segment has been significant
• By Geography, the market is classified as North America, Europe, Asia, and ROW. North America will have the largest share of the market.

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