VENTRICULAR ASSIST DEVICES MARKET ANALYSIS

Regional Analysis

Regional Insights

Ventricular assist devices market is geographically divided into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The market in North America is expected to hold a dominant position in the VADs market during forecasted period due to high prevalence of heart failure and affordability of these devices in the region. According to a study published in the Journal Circulation in 2016, over 5.7 million people in the U.S. suffered suffering from HF (heart failure), which is expected to increase to 8 million by 2030 and over 250,000 patients are expected to develop advanced heart failure, thus requiring VADs. Shortage of heart donors in the U.S. is also expected to drive growth of the market. According to statistics provided by the American College of Cardiology in 2017, only 2,200 heart donor are available each year in the U.S. Europe is a lucrative region for ventricular assist devices market, as it accounts for the highest geriatric population in world according UN report in 2017 (25% of entire population) along with high prevalence of heart failure. According to report by the European Heart Network, in 2017, cardiovascular diseases cause 3.9 million deaths in Europe and over 1.8 million deaths in the European Union, each year. Asia Pacific is expected to represent enormous opportunities for market growth in the near future, owing to the growing mortality rate caused due to CVD in the region. More than 75% deaths occurs in middle-low income countries 2as per WHO factsheet 2016)