GMI Research expects the total market for UAE Ventricular Assist Device market to grow from USD 26.3 million in 2018 to reach USD 59.4 million by 2025, recording a compound annual growth rate (CAGR) of 10.8% during the period.
The key factors boosting the growth of the market are:
• Increase in the number of cardiac disease patients leading to an increase in heart failure rates.
• Shortage of heart donors and increase in heart failures.
• Technological advancements in product design.
Higher adoption of technologically advanced cardiac devices, increasing awareness regarding the treatment of the cardiac diseases, rising prevalence of heart failures and an increasing number of patients with cardiac diseases are driving the demand for Ventricular Assist Device (VAD). Besides, a rapid increase in heart diseases is expected to fuel the growth of this market.
According to GMI Research, Left Ventricular Device dominated the market in 2018 and is expected to continue its domination during the forecast period as it works parallel to the suffering heart and gives a continuous flow from the left ventricle to the aorta and controls the flow of blood in the heart. Right Ventricular Device and Biventricular device segment will also witness a considerable growth rate in the forecast period.
Bridge-To-Transplant therapy in the application segment is acquired the maximum revenue share in 2018 due to an increase in awareness of people towards the VADs and its specifications. BTT segment is the most popular application segment in UAE market owing to a lack of awareness regarding heart transplant and shortage of heart donors. However, the (Bridge to recovery) BTR segment is expected to flourish in the forecast period due to the improving purchasing power of the population and rising health concerns.
• In 2018, the Bridge-to-transplant application segment held more than three- fourth of the market share.
• Transcutaneous design type is estimated to grow at the highest rate in the forecast period due to the advancement in the product design.
Various notable players operating in UAE Ventricular Assist Device Market include Johnson & Johnson (Abbott Medical Optics), Teleflex Medical Inc., Jarvik Heart Inc., eviticus Cardio Ltd., Getinge AB, TERUMO CORPORATION, SynCardia Systems, LLC, Abu Dhabi Medical Devices Company, Medtronic plc and BIVACOR INC among others.
The UAE Ventricular Assist Device market is segmented on the basis of Type, Application, and Design Segmentation. Based on Ventricular Assist Device type, the market comprises of Left Ventricular Device, Right Ventricular Device and Biventricular Device. Application type includes Bridge-to-transplant (BTT), Bridge-to-recovery (BTR) and Destination Therapy and the Design type includes Implantable Ventricular Assist and Transcutaneous Ventricular Assist Devices
The research report “UAE Ventricular Assist Device Market” provides in-depth analysis of the Ventricular Assist Device market, in U.A.E, based on application type, design type and type for the forecast period from 2018 to 2025. The report highlights the major market drivers propelling the growth as well as challenges faced by the market participants. The research report provides market size and forecast for Ventricular Assist Device Market. The report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
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