Ventricular Assist Devices Market Report, 2021 Global Share, Key Players, Segmentation Analysis, Business Growth and Forecast to 2027
Global Ventricular Assist Devices Market is expected to spread by 2027 expanding at a significant CAGR during the forecast period (2021-2027). The increasing incidences of heart failure and strokes have stimulated the demand for technologically advanced ventricular assist devices. These devices are used in patients that have a weak heart or for patients which are suffering from heart failure. The devices are positioned in either left, right or both ventricles of the heart but most commonly it is used in the left ventricle.
Factors driving the ventricular assist devices
market include the increasing prevalence of cardiac disorders, majorly among
the elderly population and the long waiting times for heart transplant
processes. According to WHO, in 2019, the top 10 causes of death accounted for
55% of the 55.4 million deaths worldwide. In 2019, Coronary Heart Disease was the leading
cause (42.1%) of deaths for Cardiovascular diseases in the US, followed by
stroke (17.0%), high blood pressure (11.0%), heart failure (9.6%), diseases of
the arteries (2.9%), and other cardiovascular diseases (17.4%). Moreover, the increasing
technological advancements in ventricular assist devices are also driving the
growth of this market. For instance, in March 2020, “SynCardia Systems,
LLC” announced that they have received U.S. Food and Drug Administration
(FDA) approval For its 50cc temporary Total Artificial Heart System (50cc
TAH-t) as a bridge to transplantation in cardiac transplant eligible
patients at risk of imminent death from biventricular failure.
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Based on products, the market is bifurcated into Left ventricular assist devices (LVADs), Right
ventricular assist devices (RVADs), Biventricular assist devices (BIVADs),
Percutaneous Ventricular Assist Devices (PVADs), and Total Artificial Heart
(TAH). The Left ventricular assist devices (LVADs) segment dominated the market
in 2020. It is implanted in patients with heart failure and helps the bottom left
chamber of the heart (left ventricle) pump blood out of the ventricle to the
aorta and the rest of the body. Based on application, the market is bifurcated into Destination therapy,
Bridge-to-candidacy (BTC) therapy, Bridge-to-transplant (BTT) therapy,
Bridge-to-recovery (BTR) therapy, and Others. The Destination therapy segment accounted for the major revenue portion in 2020, owing to the rising awareness of people about transplantation
and the availability of ventricular assist devices for destination therapy.
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Based
on flow, the market is bifurcated into the continuous flow and pulsatile flow. The continuous
flow segment accounted for the major revenue portion in 2020, owing to its smaller size, longer durability, higher energy efficiency, less
thrombogenicity, and less surgical trauma. Based on design, the market is
bifurcated into transcutaneous and implantable. The implantable segment accounted for the
major revenue portion in 2020. Based on end-user, the market is bifurcated
into hospitals & cardiac centers, ambulatory surgical centers, and others. The hospitals & cardiac center segment is anticipated to observe lucrative growth.
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Additionally, the report provides
detailed analysis for major regions including North
America (US, Canada, and the Rest of North America), Europe (Germany, France,
Italy, Spain, UK, and Rest of Europe), Asia-Pacific (China, Japan, India,
Australia, and Rest of APAC), Rest of World has been conducted. North
America constitutes a major market for the Smartphone-connected pacemaker
devices industry and generated maximum revenue in 2020 owing
to the presence of major
companies and healthcare infrastructure with the highest rate of cardiovascular
diseases across the world. Some of the major players operating in the
market include Medtronic PLC,
Abbott Laboratories, Berlin Heart GmbH, Reliant Heart Inc., Abiomed Inc.,
Terumo Corporation, Angiodroid, SynCardia Systems, CardiacAssist, Inc., Getinge,
etc. Several
M&As along with partnerships have been undertaken by these players to
develop smartphone-connected pacemaker devices in the market.
Global Ventricular Assist Devices Market Segmentation
Market Insight, by Product
· Left ventricular assist devices (LVADs)
· Right ventricular assist devices
(RVADs)
· Biventricular assist devices
(BIVADs)
· Percutaneous Ventricular Assist
Devices (PVADs)
· Total Artificial Heart (TAH)
Market Insight, by Application
· Destination therapy
· Bridge-to-candidacy (BTC) therapy
· Bridge-to-transplant (BTT)
therapy
· Bridge-to-recovery (BTR) therapy
· Others
Market Insight, by Flow
· Pulsatile Flow
· Continuous Flow
o Axial Continuous Flow
o Centrifugal Continuous Flow
Market Insight, by Design
· Transcutaneous
· Implantable
Market Insight, by End-user
· Ambulatory Surgical Centers
· Others
Market Insight, by Region
·
North America Ventricular Assist Devices Market
o
United States
o
Canada
o
Rest of North America
·
Europe Ventricular Assist Devices Market
o
France
o
Germany
o
Italy
o
Spain
o
United Kingdom
o
Rest of Europe
·
Asia-Pacific Ventricular Assist Devices Market
o
China
o
Japan
o
India
o
Australia
o
Rest of Asia-Pacific
·
Rest of World Ventricular Assist Devices Market
Top Company Profiles
·
Medtronic PLC
·
Abbott Laboratories
·
Berlin Heart GmbH
·
Reliant Heart Inc.
·
Abiomed Inc.
·
Terumo Corporation
·
Angiodroid
·
SynCardia Systems
·
CardiacAssist, Inc.
·
Getinge
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