Cardiac Assist Devices Market Growth Accelerated by Technological Advancements

Cardiac assist devices are implantable mechanical pumps that help improve the functioning of a weakened heart by decreasing the workload of the heart and increasing blood flow to the body. These devices offer a comprehensive solution for patients waiting for a heart transplant or with an advanced heart disease.

Market key trends:
Technological advancements is one of the key trends driving the growth of the cardiac assist devices market. Manufacturers are increasingly focusing on developing miniature, safer, and more reliable devices. For instance, Jarvik Heart, an American-based medical device company, has developed the Jarvik 2000 Heart Assist System, which is one of the smallest heart pumps in the world. Similarly, Abiomed Inc has introduced its Impella heart pump platform which provide comprehensive cardiac and respiratory support. These advancements allow reduced complications and improved patient outcomes thereby accelerating the adoption of cardiac assist devices. Introduction of devices with advanced features such as portability, biocompatibility is expected to further propel the market growth over the forecast period.

Segment Analysis
The global cardiac assist devices market is dominated by left ventricular assist devices (LVADs) segment. LVADs help pump blood from the left ventricle of the heart to the aorta and the rest of the body. LVADs are primarily used for destination therapy that allows many heart failure patients to live outside of the hospital. These devices provide long-term cardiac support by continuously pumping blood from the lower chambers of the heart. Therefore, LVADs segment holds the major market share due to high demand.

Key Takeaways
Global Cardiac Assist Devices Market Size is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: North America holds the largest share of the cardiac assist devices market due to rising prevalence of cardiovascular diseases and developed healthcare infrastructure in the region. As per the American Heart Association, heart disease is the leading cause of death in the United States. This has increased demand for cardiac assist devices for treatment. Asia Pacific is expected to grow at the fastest pace during the forecast period owing to growing medical tourism and healthcare spending in emerging economies such as China and India.

Key players: Key players operating in the cardiac assist devices market are Sherwin Williams Company, Akzo Nobel N.V., PPG Industries Ltd Axalta Coatings Systems, Rust-Oleum - RPM International Inc., Aexcel Coatings., Sokan New Materials, and Jotun AS. Sherwin Williams Company holds the leading position in the market and offers wide range of medical coatings for cardiac assist devices. Akzo Nobel NV focuses on providing eco-friendly coating solutions to medical device manufacturers.

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