Germany Ventricular Assist Device Market Size & Outlook
Germany ventricular assist device market, 2018-2028 (US$M)
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Germany ventricular assist device market highlights
- The Germany ventricular assist device market generated a revenue of USD 278.1 million in 2021 and is expected to reach USD 824.8 million by 2028.
- The Germany market is expected to grow at a CAGR of 16.8% from 2022 to 2028.
- In terms of segment, left ventricular assist devices was the largest revenue generating product in 2021.
- Total Artificial Heart (TAH) is the most lucrative product segment registering the fastest growth during the forecast period.
Ventricular assist device market data book summary
| Market revenue in 2021 | USD 278.1 million |
| Market revenue in 2028 | USD 824.8 million |
| Growth rate | 16.8% (CAGR from 2021 to 2028) |
| Largest segment | Left ventricular assist devices |
| Fastest growing segment | Total Artificial Heart (TAH) |
| Historical data | 2018 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Left ventricular assist devices, Right ventricular assist devices, Bi-ventricular assist devices, Total Artificial Heart (TAH) |
| Key market players worldwide | Johnson & Johnson, Medtronic PLC, Abbott Laboratories, Cardio Diagnostics Holdings Inc |
Other key industry trends
- In terms of revenue, Germany accounted for 11.6% of the global ventricular assist device market in 2021.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2028.
- In Europe, Germany ventricular assist device market is projected to lead the regional market in terms of revenue in 2028.
- UK is the fastest growing regional market in Europe and is projected to reach USD 208.9 million by 2028.
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Ventricular Assist Device Market Scope
Ventricular Assist Device Market Companies
| Name | Profile | # Employees | HQ | Website |
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Germany ventricular assist device market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to ventricular assist device market will help companies and investors design strategic landscapes.
Left ventricular assist devices was the largest segment with a revenue share of 79.68% in 2021. Horizon Databook has segmented the Germany ventricular assist device market based on left ventricular assist devices, right ventricular assist devices, bi-ventricular assist devices, total artificial heart (tah) covering the revenue growth of each sub-segment from 2018 to 2028.
The presence of high-quality healthcare infrastructure and favorable reimbursement policies are key factors expected to drive this market. As per World Bank healthcare expenditure as total (% of GDP) estimates, Germany allocates nearly 11.4% of GDP toward healthcare expenditure in 2018.
According to International Society for Pharmacoeconomics and Outcomes Research (ISPOR), in November 2020, over 90% of total population was reportedly covered by Statutory Health Insurance Fund (SHIF) and less than 10% were covered by private insurance.
Furthermore, it was also reported that pharmaceutical spending was reduced from preceding year due to the implementation of a new law for raising compulsory rebates for pharmaceutical manufacturers.
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Our clientele includes a mix of ventricular assist device market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Germany ventricular assist device market , including forecasts for subscribers. This country databook contains high-level insights into Germany ventricular assist device market from 2018 to 2028, including revenue numbers, major trends, and company profiles.
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Germany ventricular assist device market size, by product, 2018-2028 (US$M)
Germany Ventricular Assist Device Market Outlook Share, 2021 & 2028 (US$M)
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