North America Ventricular Assist Device Market Size & Outlook
North America ventricular assist device market, 2018-2028 (US$M)
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North America ventricular assist device market highlights
- The North America ventricular assist device market generated a revenue of USD 1,273.9 million in 2021.
- The market is expected to grow at a CAGR of 17.4% from 2022 to 2028.
- In terms of segment, left ventricular assist devices was the largest revenue generating product in 2021.
- Bi-ventricular assist devices is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2022 to 2028.
North America data book summary
| Market revenue in 2021 | USD 1,273.9 million |
| Market revenue in 2028 | USD 3,910.6 million |
| Growth rate | 17.4% (CAGR from 2021 to 2028) |
| Largest segment | Left ventricular assist devices |
| Fastest growing segment | Bi-ventricular assist devices |
| Historical data covered | 2018 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 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, North America region accounted for 53.0% of the global ventricular assist device market in 2021.
- Globally, North America is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 834.6 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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North America 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 79.21% in 2021. Horizon Databook has segmented the North America 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.
Economic development, advanced facilities for R&D, universities & hospitals, and presence of key medical device manufacturers are factors driving product development and commercialization in this region.
Increasing prevalence of cardiac diseases due to sedentary lifestyle, increasing consumption of unhealthy foods, alcohol, & tobacco, and substance abuse, are some of the key factors boosting the market growth in North America.
Furthermore, presence of well-established reimbursement policies and increasing awareness pertaining to ventricular assist devices (VADs) as bridge-to-transplant, bridge-to-recovery, and destination therapies are expected to drive demand over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America ventricular assist device market , including forecasts for subscribers. This continent databook contains high-level insights into North America ventricular assist device market from 2018 to 2028, including revenue numbers, major trends, and company profiles.
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North America ventricular assist device market size, by country, 2018-2028 (US$M)
North America Ventricular Assist Device Market Outlook Share, 2021 & 2028 (US$M)
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