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Left Ventricular Assist Device (LVAD) Market By Type (Transcutaneous LVAD and Implantable LVAD), By Age group, By Pump type, Application and By End-user And Segment Forecasts, 2016-2026

Left Ventricular Assist Device (LVAD) Market By Type (Transcutaneous LVAD and Implantable LVAD), By Age group, By Pump type, Application and By End-user And Segment Forecasts, 2016-2026

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The Global Left ventricular assist device (LVAD) Market is forecast to reach USD 2.32 Billion by 2026, according to a new report by Research Genics.LVAD is a type of mechanical pump that is primarily used for enhancing the operation and capacity of the functioning of a heart that is not able to perform its function effectively in an independent manner. In the last decade, the Left ventricular assist device (LVAD) market is experiencing rapid expansion. This expansion of the market has been a result of a combination of various factors. In recent years, the rate of occurrence of cardiovascular diseases like heart failures, coronary heart disease, and hypertension has been on a continuous rise. Every year, 18 million deaths occur due to these cardiovascular diseases that form 32% of all deaths across the globe. It is due to the high prevalence of these conditions across the globe, LVAD has gain relevance like never before that is resulting in boosting the market.

In addition to the factor mentioned above, the rise in cardiovascular diseases has also resulted in an increase in demand but lack of availability of heart donors. To manage this situation of high demand and low availability of heart donors, LVAD has become a necessity in cardiovascular treatment, which has resulted in its increased application of LVAD in cardiovascular care services. This rise in the use of LVAD in cardiovascular care services has a positive impact on the growth rate of this market.

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Another driving factor that promoted the expansion of the market is changing the lifestyle that is the basis for negative habits like alcohol consumption and smoking. Due to such a changing lifestyle and associated adverse habits, there has been a rise in the prevalence rate of cardiovascular disease that results in further promoting the growth of this sector.

Though LVAD has become a necessity in cardiovascular services for practical reasons; however, restraints like the high cost of implantation of LVAD as compared to other cardiovascular therapies and mechanical challenges associated with this assist device like the need to recharge it may result in adversely affecting the growth rate of this market.

In context to region analysis, North America dominates the industry. Factors that contributed to the market share of this region are a rise in the prevalence of cardiovascular diseases, a rise in investment in research and development, and the presence of advanced technologies in this region.CorWave, Apaxis Inc., Sunshine Heart, Evaheart, Sun Medical Technology Research, Abiomed, Jarvik Heart, HeartWare International, HeartWare International, Reliantheart, Transonic, Thoratec, Terumo.

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The companies are focusing on diverse strategies, like acquisitions and mergers, to maintain its present market share and launch enhanced products in the market.LVAD,Transcutaneous LVAD and Implantable LVAD,

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