The global cardiac assist devices market is valued at USD 1672.56 Million in 2018 and is poised to attain USD 2506.85 Million by 2023, developing at a CAGR of 8.43%. Cardiac assist devices (CAD) are kind of mechanical pumps that works together with the coronary heart to improve its pumping efficiency and hold the maximum efficient blood to go along with the flow of blood throughout the body. A cardiac assist device helps the coronary heart in case of respiratory failure. Such devices also can update the coronary partly or completely.
Lack of donor's hearts for transplantation is a key driver of the market
Factors affecting market growth:
Growing geriatric population coupled with rise in cardiovascular sicknesses (+) Lack of donor's hearts for transplantation (+) Technological advancements (+) Increasing healthcare expenditure (+) Minimally invasive devices (+) Development of blood clots and device failure (-) High costs of devices (-)
North America holds the biggest share of the market Internationally
The Global Cardiac assist devices market is geographically segmented into
North America Europe Asia Pacific Latin America Middle East and Africa North America holds the predominant share within the international cardiac assist devices, with maximum cases of coronary heart failure. Technological development and reimbursements for cardiac assist devices implantation procedures are also helping the market growth in this location.
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