(Health-NewsWire.Net, June 11, 2019 ) VAD market is anticipated to increase at a rapid pace over the forecast period owing to rise in incidence of cardiac disorders and increase in geriatric population. Lack of heart donors for heart transplantation is boosting the market growth. Increase in adoption of MI procedures for VAD, technology advancements between the dealers is projected to increase the growth of the market.
Furthermore, potential risks and limitations of these Devices increase in product calls and lack of awareness in emerging countries hamper the market growth.
Global VAD market is the leading market in cardiac Devices industry which is projected to grow at a CAGR of 11.45% over the forecast period. Asia-Pacific, Europe, Middle East & Africa ad Americas are having dominance over the forecast period. Technological advanced products are driving the demand for VAD market. Additionally, increase in the product recalls by dealers is one of the major factors hindering the growth of global VAD market.
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Increase in usage of VAD for BTT (Biodynamic Touch Therapy) is the trends which are expected to increase the Global VAD market.
Key factors that are contributing the growth of the market in emerging regions like Americas is increasing the prevalence of heart failure. Owing to the increase in healthcare infrastructure in Asia-Pacific region is anticipated to increase VADs contribution to the global market over the forecast period.
Global VAD market is dominated by the dealers include Heart ware International and Thoratec, which is a major retailer in the market that offers products for all types of application of VAD.
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It presents the market attractiveness index through porters five force analysis on the basis of bargaining power of buyers, competitive rivalry, threat of new entrants, threat of substitutes, and bargaining power of suppliers.
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