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Follow on Google News | Ventricular Assist Devices (VAD)The Global Market for Ventricular Assist Devices is Expected to Grow at a CAGR of 11% from 2010 to 2017
By: Rajesh Gunnam The global prevalence of heart failure is significant and is expected to increase at a significant pace, driving growth in the global VAD market. According to the American Heart Association, it is estimated that in 2010, globally more than 23 million people had heart failure. Heart failure is more predominant in people above 75 years of age. An aging population would indicate an increase in the heart failure disease population. Moreover, the increasing prevalence of other risk factors such as hypertension, diabetes, obesity and coronary artery disease are also expected to contribute to the increase in disease population. The Left Ventricular Assist Devices (LVAD) market contributes significantly to the total VAD market. It was valued at $363.3m in 2010 and is forecast to grow at a CAGR of 13% to reach $870.3m by 2017. This segment accounts for about 73% of the $500.3m revenues of the global VAD market. The LVADs are used in the Bridge-to-Transplantation (BTT), destination therapy and bridge to recovery. This has led to the increasing demand for the LVADs thereby causing market growth. The disease population for left sided heart failure is also higher which further increases the demand for LVADs. For Sample Pages, please click or add the below link to your browser: http://www.globaldata.com/ The US VAD market was valued at $306.2m in 2010 and is expected to reach $725.8m by 2017 with a CAGR of 13%. The US accounts for 61% of the global VAD market which was $500.3m in 2010. The US market for VADs is driven by patient awareness and increasing disease prevalence. The other drivers behind such growth include the recommendations by various medical associations and clinical trials such as the Randomized Evaluation of Mechanical Assistance for the Treatment of Congestive Heart Failure (REMATCH) which encourage the use of VADs as long term treatments for advanced-stage heart failure. In 2010, Thoratec with 73% share was the dominant player in the global VAD market. Thoratec’s market dominance can be attributed to its broad product portfolio in the VAD segment and other mechanical support devices to treat the full range of clinical needs for advanced heart failure patients. In addition, it has strong brand recognition in the market which gives the company a competitive edge over other VAD manufacturers. Other companies in the global VAD market include HeartWare International, Berlin Heart GmbH, MicroMed Cardiovascular, Jarvik, Terumo Heart and ABIOMED. GlobalData’s new report, “Ventricular Assist Devices (VAD) - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global ventricular assist devices market. The report provides market landscape, competitive landscape and market trends information on the ventricular assist devices market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts. For further details, please click or add the below link to your browser: http://www.globaldata.com/ Visit our report store: http://www.globaldata.com/ For more details contact: pressreleases@ North America: +1 646 395 5477 Europe: Asia Pacific: # # # GlobalData is a global market intelligence services company providing information research and analysis products and services. End
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