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Cardiac Assist Devices
Cardiac Assist Devices
The Cardiac Assist Devices Market is Expected to Grow at a CAGR of 8% from 2009 to 2016
Hyderabad,
AP,
India
(prbd.net)
02/11/2010
The global market for cardiac assist devices is forecast to grow from $724.1m in 2009 to $1.2 billion by 2016 with a Compound Annual Growth Rate (CAGR) of 8%. The Ventricular Assist Devices (VAD) market is the largest in terms of market size and accounted for nearly 52% of the revenue generated from cardiac assist devices. The global market for VADs is forecast to grow from $374m in 2009 to about $696m by 2016 with a CAGR of 9%. The intra-aortic balloon market was valued at $331m and is forecast to grow at a CAGR of 7% to reach $520m by 2016. The Total Artificial Heart (TAH) market is expected to grow at 6% CAGR to reach $28m in 2016 from $19.4m in 2009.
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Heart failure is one of the most common diseases in the western countries with consistently increasing prevalence and incidence rates. Globally, it is estimated that nearly 23 million patients are suffering from heart failure. The increase in the aged population will continue to drive the number of patients suffering from heart failure. A United Nations (UN) report shows that, worldwide, the population of elderly people is growing at a rate of 2.6% per year, whereas the population as a whole is increasing by just 1.1% annually. Advances in medical technology, including the early detection of disease coupled with introduction of new treatment methods and life saving drugs, have played a significant role in enhancing these statistics. The treatment for heart failure is estimated to account for 2.5% of the total healthcare budget of developed countries. In the US, the prevalence rate of heart failure is estimated to be about 2.5% with an annual incidence rate of 0.25%.The annual healthcare expenditure on heart failure in the US is estimated to be about $40 billion in 2010. The available data suggests that about one in five people who develop heart failure die within one year of diagnosis. In Europe, countries such as Germany, UK, France, and Italy account for the highest prevalence and incidence rate.
GlobalData’s new report, “Cardiac Assist Devices - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016” provides key data, information and analysis on the global cardiac assist devices market. The report provides market landscape, competitive landscape and market trends information the cardiac assist devices market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.
For further details, please click or add the below link to your browser:
http://www.globaldata.com/reportstore/Report.aspx?ID=Cardiac-Assist-Devices-Global-Pipeline-Analysis-Opportunity-Assessment-and-Market-Forecasts-to-2016&ReportType=Industry_Report&coreindustry=Industry_Report&Title=Medical_Devices
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