As per UnivDatos Market Insights, the Ventricular Assist Devices Market was valued at US$ X million in 2020 and is expected to reach US$ X million by 2027, registering a CAGR of X% during the forecast period (2021-2027).
The surge in the Ventricular Assist Devices Market is due to the increasing prevalence of cardiac diseases and the long waiting times for heart transplant processes. In addition to this, the rising number of geriatric populations globally, which has high prevalence of cardiac disorders is also driving the growth of the market. For instance, according to World Health Organization (WHO) in 2020, the number one cause of death globally is cardiovascular diseases (CVD). It is estimated that 17.9 million people die each year are due to CVDs and where 85% of deaths are due to stroke and heart attack. The rising number of cardiovascular diseases increases the need for ventricular assist.
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The report “Global Ventricular Assist Devices Market: Current Analysis and Forecast (2020-2027)” by UnivDatos Market Insights delivers a comprehensive analysis of product, application, flow, design, end-user, and region.
Global Ventricular Assist Devices Market Segmentation
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)
By Application:
Destination therapy
Bridge-to-candidacy (BTC) therapy
Bridge-to-transplant (BTT) therapy
Bridge-to-recovery (BTR) therapy
Others
By Flow:
Pulsatile Flow
Continuous Flow
Axial Continuous Flow
Centrifugal Continuous Flow
By Design:
Transcutaneous
Implantable
By End-user:
Hospitals & Cardiac Centers
Ambulatory Surgical Centers
Others
By Region:
North America
United States
Canada
Rest of North America
Europe
France
Germany
Italy
Spain
United Kingdom
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of World
Based on product, the market has been segmented 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 generated the highest revenue 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. For example, in May 2019, Abiomed launched the Impella CP with SmartAssist which is designed to improve patient outcomes at the 2019 Society for Cardiovascular Angiography & Interventions (SCAI).
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Amongst applications, the market is divided into Destination therapy, Bridge-to-candidacy (BTC) therapy, Bridge-to-transplant (BTT) therapy, Bridge-to-recovery (BTR) therapy, and Others. The Destination therapy segment dominated the market due to the rising awareness of people about transplantation and the availability of ventricular assist devices for destination therapy. For instance, according to Medtronic’s ENDURANCE Supplemental trial of HeartWare left ventricular assist device (LVAD) the destination therapy be an excellent option for patients suffering from end-stage heart failure or who are not candidates for transplantation.
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. 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.
Additionally, this report also provides detailed analysis for major regions including North America, Europe, Asia-pacific, and the rest of the world. North America constitutes a major market for the ventricular assist devices industry and generated maximum revenue in 2020. According to American Heart Association in 2019, nearly half of all U.S. adults have some type of cardiovascular disease and by 2025 more than 130 million adults, or 45.1% of the US, population have cardiovascular disease. Abbott a US-based company in February 2020 announced that they have received CE Mark for their new product “Gallant” an implantable cardiac device, which has the most advanced heart rhythm management capabilities. This will lead to an upsurge in the ventricular assist device market in the forecast period.
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Key players
The market is highly fragmented due to the presence of different large, small, and medium-scale players. The market for ventricular assist devices is highly competitive. Some of the key players that hold major market share include companies are:
Medtronic PLC
Abbott Laboratories
Berlin Heart GmbH
Reliant Heart Inc.
Abiomed Inc.
Terumo Corporation
Angiodroid
SynCardia Systems
CardiacAssist, Inc.
Getinge
Table of Content –
1 Market Introduction
2 Research Methodology or Assumption
3 Market Synopsis
4 Executive Summary
5 Top Start-Ups Under Ventricular Assist Devices Industry
6 COVID-19 Impact
7 Global Ventricular Assist Devices Market Revenue
8 Market Insights by Product
9 Market Insights by Application
10 Market Insights by Flow
11 Market Insights by Design
12 Market Insights by End-User
13 Market Insights by Region
14 Ventricular Assist Devices Market Dynamics
15 Legal & Regulatory Framework
16 Demand and Supply Side Analysis
17 Value Chain Analysis
18 Ventricular Assist Devices Market Opportunities
19 Ventricular Assist Devices Market Trends & Insights
20 Competitive Scenario
21 Company Profiled
22 Disclaimer
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