North America Left Ventricular Assist Device Market

The North America left ventricular assist device market is expected to grow from US$ 540.59 million in 2022 to US$ 739.28 million by 2028. It is estimated to record a CAGR of 5.4% from 2022 to 2028.

Increasing Geriatric Population Contributes to Market Growth of North America Left Ventricular Assist Device Market

The geriatric population is prone to conditions such as CVDs, orthopedic disorders, metabolic disorders, and neurological disorders. According to the US Census Bureau, ~13% of the population in the US was aged 65 and above in 2009, which is estimated to increase by 20% by the end of 2030. Per a study by Emory Healthcare, in the US, ~1.4 million people of age more than 65 have congestive heart failure, and more than 5% of people aged 60–69 have congestive heart failure. Additionally, the annual incidence of congestive heart failure is 10 per 1,000 among people aged 65 and above. Congestive heart failure is one of the most common diagnoses in patients of age 65 and above age, and the condition led to 875,000 hospitalizations in the US in 2021. Left ventricular assist devices are widely used in managing end-stage heart failure in the geriatric population. Hence, the elevating aging population base and the increasing prevalence of heart failure in this population fuel the North America left ventricular assist device market.

North America Left Ventricular Assist Device Market Overview

The North America left ventricular assist device market is segmented into the US, Canada, and Mexico. The region accounted for the largest share of the global left ventricular assist device market in 2021 owing to the prevalence of cardiovascular diseases, especially in the geriatric population. A rise in the cases of heart failure and the inclusion of LVAD-associated costs under insurance are also contributing to the growth of the North America left ventricular assist devices market.

North America Left Ventricular Assist Device Market Revenue and Forecast to 2028 (US$ Million)

North America Left Ventricular Assist Device Strategic Insights

Strategic insights for the North America Left Ventricular Assist Device provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Left Ventricular Assist Device Report Scope

North America Left Ventricular Assist Device Regional Insights

The geographic scope of the North America Left Ventricular Assist Device refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

North America Left Ventricular Assist Device Market Segmentation

The North America left ventricular assist device market has been segmented on the basis of type of flow, design, and application, and country.

Based on the type of flow, the North America left ventricular assist device market is segmented into non-pulsatile and pulsatile flow. The non-pulsatile segment registered a larger market share in 2022.

The North America left ventricular assist device market, by design, is bifurcated into implantable ventricular assist devices and transcutaneous ventricular assist devices. The managed services segment accounted for a larger market share in 2022.

In terms of application, the North America left ventricular assist device market is segmented into destination therapy, bridge to transplantation, bridge to candidacy, and bridge to recovery. The destination therapy segment held the largest market share in 2022.

The North America left ventricular assist device market, by country, is segmented into the US, Canada, and Mexico. The US dominated the market in 2022.

AO Kaspersky Lab; Avast Software s.r.o.; Cisco Systems, Inc.; ESET, spol. s r.o.; Fortinet, Inc.; McAfee, LLC; Microsoft Corporation; and Palo Alto Networks, Inc. are the leading companies operating in the North America left ventricular assist device market.