Cardiac Assist Devices Market - Forecast(2022 - 2027)

• Cardiac assist devices market size was valued at $1,307 million in 2020 and is anticipated to grow at a CAGR of 8.2% during the forecast period 2021-2026. The cardiac assist devices industry growth rate is attributed to the increasing focus on the growing demand for efficient cardiac assist devices in developed countries, along with an increase in the prevalence of heart failure which is poised in bringing new opportunities.

• Cardiac Assist Devices (CADs) are blood pumps that support the circulatory functions of severely ill cardiac patients.

Key Takeaways

•The factors such as rising adoption of innovative various cardiac assist devices owing to rise in the incidence of heart failures and several patients with cardiovascular diseases (CVDs) such as myocardial infarction are amongst the major factor projected to impel growth of cardiac assist devices market.

•Additionally, factors such as rising government funding for product development and ongoing research activities are to create opportunities paving a way for the growth in the market during the forecast period 2021-2026.

Cardiac Assist Devices Market Segment Analysis - By Modality

The implantable held the largest market on account of the fact that this modality type ventricular assist devices has shown a surge in the usage owing to an increase in the number of several myocardial infarction cases globally. Also, the segment is to hold its dominance through the forecast period 20212026 with a healthy growth in CAGR of 8.69% as this segment is visualizing the entry of numerous market players specifically focused into the innovation of new products hence; broadening the scope of application is also poised to hold the market share.

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