Cardiac Assist Devices Pipeline Technology and Market Forecasts to 2015
GlobalData's "Cardiac Assist Devices Pipeline Technology and Market Forecasts to 2015" report is an essential source of information and analysis on the global cardiac assist devices market. The report identifies the key trends shaping and driving the dynamism in the global cardiac assist devices market. The report also provides insight on the prevalent competitive landscape and the emerging players expected to bring significant shift in the market positioning of the existing market leaders. Most importantly, the report provides valuable insight on the pipeline products within the global cardiac assist devices sector.
Global Cardiac Assist Devices Market Forecast To Reach $836.2 m In 2015
The cardiac assist devices market was valued at $836.2 mn in 2008. The market is expected to reach $1.5 bn in 2015 with an annual growth rate of 8.3%. The long wait lists for heart transplants and the rising incidences of heart failure will drive the cardiac assist devices market. Approximately 550,000 individuals suffer from heart failure each year in the US alone. As there are relatively few therapeutic approaches available for treating this, cardiac assist devices provide lucrative opportunities for growth within this market.
Large Number of Patients Being Added To the National Transplant List Every Year Will Boost the Sales of Cardiac Assist Devices
Cardiac assist devices are an alternative to heart transplant in patients with end-sage heart failure. According to the United Network for Organ Sharing, there were approximately 2,300 hearts available for transplant in the U.S. in 2007. Approximately 2,700 individuals are on the US national transplant waiting list at any point of time. Thus the long waiting list and constant addition of patients to the transplant list will drive the sales of cardiac assist devices as they offer both temporary as well as long-term alternatives to heart transplants.
Rising Prescription Rate Due to Improved Devices Increasing the Adoption Rate of Cardiac Assist Devices
The adoption rate of cardiac assist devices is increasing due to limited complications associated with the advanced cardiac assist devices available. The improved devices also offer a longer lifespan to the patient with the implanted device, by reducing complications like infection, multiple organ failure and blood clotting within the tubes.
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