Cardiac Assist Devices Market by Type and by Region – Industry Analysis, Size, Share, Growth, Trends, and Forecast (2016 – 2021)
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The Middle-East & Africa market for cardiac assist devices is estimated at $92.54 Million in 2016 and is poised to reach $132.1 Million by 2021, growing at a CAGR of 7.38%. Rise in aging population, upsurge in occurrence of cardiovascular diseases, technological advancements and availability of more efficient and minimally invasive devices in future are driving the cardiac assist devices market.
The devices are normally used in patients suffering from End-Stage Congestive Heart Failure, where the chances of survival through medications alone is minimal. The scarcity of donor organs has steered to the development of these devices.
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The approval of novel technologically advanced products will further increase the demand for cardiac assist devices in the future. Furthermore, lack of donor hearts for transplantation is also driving the cardiac assist devices implantations in patients with severe heart complications, thereby increasing the market opportunities.
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Existence of alternative treatment like pacemaker, heart transplantation and the risks associated with the device implantation, such as respiratory failure, development of blood clots and device failure restrain the market growth. Adding to these, surgical impediments such as kidney failure, bleeding, Infection and occurrence of stroke are also acting as a barrier in the adoption of such devices.
The Middle-East & Africa cardiac assist devices market is segmented on the basis of type into Ventricular Assist Devices (VAD), Intra-Aortic Balloon Pumps (IABP) & Total Artificial Heart (TAH). Further the Ventricular Assist Devices is divided into Right Ventricular Assist Device (RVAD), Left Ventricular Assist Device (LVAD), Bi-Ventricular Assist Device (Bi-VAD) & External Ventricular Assist Devices.
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In addition, on the basis of geography, the Middle-East & Africa market is segmented into two regions, each representing Middle-East and African Countries. The Middle-East & Africa region accounts to about 4% of the Global cardiac assist devices market.
Thoratec Corporation, MAQUET GmbH & Co, Teleflex Incorporated, Berlin Heart GmbH, Abiomed, Inc., HeartWare International, SynCardia Systems, Inc. are the leading market players with dominance over 60% of the market.
Some other potential players in the market include Jarvik Heart, Inc. and Terumo Corporation. BiVacor Pty Ltd, Braile Biomedica Ltd., Calon Cardio-Technology Ltd., CardiacAssist, Inc., CardioBridge GmbH, Carmat SAS, Cleveland Heart, Inc., CorAssist Cardiovascular Ltd., Evaheart Medical USA, Inc, Windmill Cardiovascular Systems, Inc.
Scope of the report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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