Global Ventricular Assist Devices Market to reach $1.2 Billion by 2014, According to New Report by Global Industry Analysts, Inc.
Driven by enhanced focus on development of next generation devices, and widening demand and supply gap for heart transplantation, the global market for ventricular assist devices is projected to exceed $1.2 billion by 2014.
San Jose, CA (PRWEB) February 19, 2009 -- Globally, about one million people suffer from end-stage heart failure. With demand for heart transplantation, the traditional procedure for end-stage heart failure, surpassing the availability of donor hearts, use of ventricular assist devices (VADs) has emerged as an ideal alternative form of treatment for such patients. Development of VADs with improved design, features and durability is expected to expand its adoption across a broader patient population, including women and children.
Besides, the arrival of second generation and third generation VADs has expanded the scope of using destination therapy as an early intervention measure in the treatment of heart failure, thereby offering hope to several heart failure patients. Destination Therapy holds vast potential in the overall ventricular assist devices (VAD) (http://www.strategyr.com/Ventricular_Assist_Devices_Market_Report.asp) market, driven primarily by the benefits of procedure when compared to conventional heart transplantations. Further, the procedure holds promise owing to its use among patients who are otherwise ineligible for donor hearts due to old age or severe sickness.
United States represents the largest market for VADs, as stated in a recent report by Global Industry Analysts, Inc. A major driver for the use of VADs in United States is the recommendation by various medical associations for using alternative therapies (including VADs) in the treatment of advanced stage cardiac failure patients. The adoption of VADs is also affected by factors such as cost of device, competition from drug industry, reimbursement levels, and time period for gaining FDA approvals.
Thoratec Corporation is the predominant player with about 50% share of the global VAD market. Other key players operating in the market include Abiomed Inc., Berlin Heart GmbH, EvaHeart Medical USA Inc., Jarvik Heart Inc., MicroMed Cardiovascular Inc., SynCardia Systems Inc., Terumo Heart Inc., Ventracor Limited, and World Heart Corporation.
The report titled "Ventricular Assist Devices: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a review of market dynamics, trends, issues, and competition pertaining to the market. The report enumerates recent product introductions/innovations, developments, mergers, acquisitions and other strategic industry activities. Analysis is presented for the period 2005-2015 for United States, Europe, and Rest of World.
For more details about this research report, please visit
http://www.strategyr.com/Ventricular_Assist_Devices_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (http://www.strategyr.com) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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