Ventricular Assist Devices Market Size, Share, Growth Analysis, By Design(Implantable Ventricular Assist Device, and Transcutaneous Ventricular Assist Device), By Product(Left Ventricular Assist Device, Right Ventricular Assist Device, Bi-Ventricular Assist Device, and Total Artificial Heart), By Flow Type(Pulsatile Flow, and Continuous Flow), By Application(Bridge to Transplant, Destination Therapy, Others (Bridge to Recovery, Bridge to Candidacy), By Region - Industry Forecast 2024-2031

Global Ventricular Assist Devices Market was valued at USD 1.13 Billion in 2022 and is expected to rise from USD 1.25 Billion in 2023 to USD 2.66 Billion by 2031, at a CAGR of 9.9% during the forecast period (2024–2031).

The surging prevalence of cardiovascular disorders and growing demand for heart transplants are estimated to primarily augment the sales of ventricular assist devices across the study period. Rapidly increasing aging population will also be a major contributor to the rising demand for ventricular assist devices around the world. Advancements in the development of novel ventricular assist devices and increasing investments in the R&D of novel technologies are also expected to create new opportunities for ventricular assist device companies in the future. Increasing healthcare expenditure around the world is also anticipated to boost revenue generation for ventricular assist device companies. Rising availability of total artificial hearts and growing acceptance of the same will also promote market growth across the forecast period and beyond. However, high costs of ventricular assist devices, risk of complications, and stringent regulatory framework are slated to slow down ventricular assist device demand outlook in the long run.