Ventricular Assist Device Market size is valued at USD 1,950.0 million in 2021 and is expected to reach a value of USD 3,407.5 million by 2028, growing at a CAGR of 8.3% during the forecast period 2022 to 2028. The global market provides a detailed overview of the ventricular assist device market and that can be segmented by product, type of flow, design, and application. By product, the ventricular assist device market has been segmented into left ventricular assist device, right ventricular assist device, bi-ventricular assist device, and the total artificial heart. The left ventricular assist device segment is likely to be the largest and fastest-growing segment in terms of product. Based on the type of flow, the ventricular assist device market is segmented into pulsatile flow and continuous flow. Among these, the pulsatile flow segment is expected to have the fastest-growing market during the forecast period 2022-2028. On the basis of design, the market is segregated into implantable ventricular assist devices and transcutaneous ventricular assist devices. The implantable ventricular assist device held a considerable market share during the forecast period. Based on application, the market is segregated into a bridge to transplant, destination therapy, and others. Bridge to transplant segment held considerable market share during the estimated period.
In May 2021, The Ministry of Health, Labor, and Welfare (MHLW) of Japan has approved the Impella CP heart pump. The availability of Impella hemodynamic support to patients with heart failure will be facilitated by this approval, hastening the company’s growth.