According to FutureWise analysis the market for mechanical circulatory support devices in 2023 is US$ 1.32 billion, and is expected to reach US$ 2.78 billion by 2031 at a CAGR of 9.72%.
Mechanical circulatory support is a term that refers to a variety of therapies and technologies that help patients survive life-threatening cardiogenic shock. Chronic hypotension, poor cardiac output, and high central filling pressures are all symptoms of cardiogenic shock. Cardiogenic shock is the most serious complication of an acute myocardial infarction, with a significant death rate due to ischemic heart injury. Mechanical circulatory support devices are typically required in patients who have advanced heart or pulmonary failure. They can help with cardiac sarcoidosis, cardiomyopathy, endocarditis, heart failure, hypertrophic cardiomyopathy, and congenital heart disease, among other conditions. The mechanical circulatory support systems market is growing because to an increase in the incidence of heart failure, which accounts for about 500,000 new patients in the United States each year. Furthermore, the rising rate of heart failure has contributed to an increase in hospitalisation, increasing the global burden of health-care spending. The market for mechanical circulatory support devices is being driven by an increase in the frequency of cardiovascular disorders. According to the World Health Organization, cardiovascular diseases are the leading cause of death worldwide each year. Technological advancements in ventricular assist devices (VAD), such as continuous flow technology, have aided in improving implantability and efficiency, providing extended support, and improving the overall patient experience, all of which have helped to increase demand for these devices, resulting in market growth.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Mechanical Circulatory Support Devices Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Mechanical Circulatory Support Devices Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.